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Prysmian is investing over $1 billion to expand its Catawba County, North Carolina facility in Claremont, adding 385 jobs, according to Governor Josh Stein. The expansion is expected to take 20-24 months and more than double U.S. fiber optic capacity, including glass preform and fiber, and increase cable production. Prysmian employs about 680 there.

Netflix will shut down Night School Studio, developer of Oxenfree and Afterparty, six weeks after releasing Unhinged, and plans to close Moonloot, a Helsinki studio it founded in 2022. Netflix says it is restructuring its internal games team to focus on kids, party, story-driven and mainstream titles, without disclosing job counts. It acquired Night School in 2021.

Netflix said it is shutting down Night School Studio, acquired in 2021 under Netflix Games, about a month after the release of mobile game Unhinged. Netflix also plans to close Moonloot and cut some internal gaming staff, citing organizational changes to focus on party, kids, mainstream-licensed and story games, according to a Netflix spokesperson.

Reuters reports that U.S. President Donald Trump ordered the Navy to drop the electromagnetic aircraft carrier launch system and return to steam catapults, via a national security memorandum. The change would require removing the system on Gerald R. Ford-class carriers and is expected to cost billions. Huntington Ingalls is the primary contractor building the Ford class, according to the White House.

Northrop Grumman (NYSE:NOC) received a $158.8 million contract modification from the U.S. Department of War, according to the agency. The award under contract W58RGZ-26-C-0009 covers definitization, with work at Rolling Meadows, Illinois. Completion is estimated Aug. 13, 2026, and $158.831 million in fiscal 2026 funds were obligated.

Brookfield Corp. said it can manage financing risks tied to a planned US$500 billion partnership to fund AI chip purchases, alongside Nvidia and other financial institutions. Brookfield CFO Nick Goodman cited risk controls like cash-flow contracts. Brookfield reported Q2 distributable earnings of US$1.4 billion (61 cents/share) and profit of US$703 million (14 cents/share).