Raphael Stevens

The Pentagon’s Space Development Agency announced nearly $1.8 billion in contracts to three companies for a next-generation military communications network.
A pair of aerospace giants – Lockheed Martin and Northrop Grumman – and private venture York Space will each build 42 satellites for the SDA’s Transport Layer Tranche 1.
The military wants to utilize an iterative design with small, low-cost satellites to make its network more robust and adaptable.

Aerial view of the United States military headquarters, the Pentagon.
Jason Reed | Reuters

The Space Development Agency, an acquisition arm of the Department of Defense, on Monday announced nearly $1.8 billion in contracts to three companies for a next-generation military communications network of 126 satellites.
A pair of aerospace giants – Lockheed Martin and Northrop Grumman – and private venture York Space will each build 42 satellites for the SDA’s Transport Layer Tranche 1 (T1TL).

Lockheed Martin won $700 million, Northrop Grumman won $692 million, and York won $382 million.
The SDA’s Transport Layer network represents the Pentagon’s bid to build a satellite internet system. Companies such as SpaceX’s Starlink, OneWeb, Amazon, Telesat have been pouring funds into developing private broadband satellite networks in low Earth orbit.
But the Pentagon aims to create its own “mesh network” with the Transport Layer, which is envisioned as “a resilient, low-latency, high-volume data transport communication system.” The Transport Layer is being built in “tranches,” with the military wanting to utilize an iterative design with small, low-cost satellites to make its network more robust and adaptable.
SDA awarded Lockheed and York with the first contracts for the Transport Layer in 2020 for Tranche 0, with each building 10 satellites that are scheduled to launch later this year. The Tranche 1 contracts awarded on Monday require delivery in 2024.

York’s growth continues

The S-CLASS platform, designed for missions for a wide variety of government and commercial customers.
York Space Systems

While Northrop Grumman and Lockheed Martin have long histories of building valuable satellites for the U.S. government, the continued Transport Layer awards represent a boon for York, which was founded in 2015.

“The fact that SDA is leading in this area of leveraging commercial off-the-shelf kinds of satellites is a big deal,” York Space chairman Charles Beames told CNBC.
Beames said York’s revenue growth year over year has been anywhere from 40% to 100%, with the company continuing to expand its manufacturing capabilities in Denver, Colorado.
“Even with conservative backlog projections, we’re at well over $1 billion in backlog” of satellites to build over the next few years, Beames said.

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Health-care spending is rising in the U.S. more than anywhere else around the world.
Lack of choices in insurance plans limits competition, which can drive prices higher.

Health-care spending is rising around the world, but the U.S. is the worst performer. The United States accounts for more than 40% of all global health spending.
Health-care spending made up 5% of total U.S. GDP in 1960. In 2020, spending hit almost 20% of total U.S. GDP.

“Health care almost always outpaces inflation, and so health-care costs grow faster than the economy,” said Cynthia Cox, vice president at the Kaiser Family Foundation. “That’s why it’s representing a larger and larger share of the economy.”
Americans aren’t using more health care than people in other nations that spend less. Instead, U.S. residents pay more for each interaction. Hospitals, physicians and clinical care made up more than half of the total health-care spending in 2019.
One of the causes of high spending is the fragmented nature of the U.S. system. Some Americans have comprehensive and affordable health insurance coverage while others have little to no coverage.
“The way the system is structured now, it is a cure-driven system, not a prevention-driven system,” said Yaseen Hayajneh, associate professor of health administration at Western Connecticut State University.
“Preventing diseases from getting worse is always going to cost less,” said Dr. Tyeese Gaines, an emergency medicine physician who also previously ran her own practice.

Most Americans don’t have much of a choice when it comes to their insurance plan. More than 54% get health insurance through their employer. This lack of choice limits competition, which can drive prices higher.
“[The] capitalist view works when the market is free,” Hayajneh told CNBC. “Health care is never a free market.”
Watch the video above to learn more about why health-care costs are rising in the U.S. more than anywhere else and how that can be stopped.

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Peel Group, a real estate firm led by 79-year-old billionaire John Whittaker, the company’s chairman and largest shareholder, wants to build a £100 million ($136 million) cannabis-growing facility on the Isle of Man, where it is headquartered.
The proposed facility, located on the fringe of the capital Douglas, would be used to produce medicinal cannabis that would then be distributed around the world.
The crop, not yet legal for recreational use in the U.K. or the Isle of Man, would be grown in several large warehouses that Peel Group would lease to tenants.

Cannabis leaves sit on plants growing in a greenhouse in the GW Pharmaceuticals Plc facility in Sittingboune, U.K. on Monday, Oct. 29, 2018.
Jason Alden | Bloomberg | Getty Images

A vast marijuana farm could soon be built on a small island between the U.K. and Ireland.
Peel Group, a real estate firm led by 79-year-old billionaire John Whittaker, the company’s chairman and largest shareholder, wants to build a £100 million ($136 million) cannabis-growing facility on the Isle of Man, where it is headquartered.

The proposed facility, located on the fringe of the capital Douglas, would be used to produce medicinal cannabis that would then be distributed around the world and prescribed to patients. However, the self-governing nation is yet to legalize medicinal cannabis, meaning cannabis produced at the facility could not be prescribed for use on the Isle of Man.
Located in the middle of the Irish Sea, the Isle of Man’s economy is primarily based on finance, while tourism and agriculture are also key sectors.
Chris Eves, finance director at Peel Group, told CNBC Wednesday that cannabis could be a lucrative new industry for the island.
“I think medicinal cannabis, pharmaceutical cannabis, is the next real opportunity for the island to steal a march on this side of the Atlantic,” Eves said, adding that the U.S. and Canada have already made a strong start.

Computer-generated images depict a site with around 10 buildings including warehouses and offices.

“What we’re planning to develop over here is atmospherically sealed units,” Eves said, adding that the facilities would “ensure maximum potency” of the product.

Licenses

The crop, not yet legal for recreational use in the U.K. or the Isle of Man, would be grown in several large warehouses that Peel Group would lease to one or more tenants, who would need a license first.
Cannabis production licenses are yet to be issued by the Isle of Man government but applications have been made by a number of parties, Eves said, adding that people with the necessary cannabis farming skills may need to be imported initially.
Sales of cannabis are set to soar in the next few years as more countries around the world legalize the drug for recreational use.
Peel Group does not hold a view on whether recreational cannabis use should be legalized on the Isle of Man or overseas, Eves said.
“At this point, what we’re looking to deliver here is purely pharmaceutical,” he said. “We’re not necessarily pushing for change. We think there is a business case for it without [recreational use]. Undoubtedly, that feels to me as the natural progression. I think societies are generally accepting of that direction of travel.”

Other major developments

Peel Group, which counts Media City in Salford, England, and the Trafford Centre mall in Manchester among its biggest projects, intends to submit a planning application for the cannabis farm in the next few months.
It is currently conducting a public consultation on the Isle of Man that’s set to last until March 7.
While the development has received support from local residents and lawmakers, some are concerned that it will be an eyesore, while others worry it will use too much energy.
“The energy requirements are concerning and currently incompatible with supply and grid,” an Isle of Man civil servant told CNBC, asking to remain anonymous because they weren’t authorized to speak publicly on the matter.
Peel Group has said it would set up a solar farm to help power the cannabis farm.
But the civil servant said: “Solar capabilities are limited on the island unless they are planning on investing significantly in battery storage, which would be great.”
Andrew Newton, leader of the Isle of Man’s Green Party, told CNBC that the development presents a number of sustainability issues that will need to be considered.
“These include a risk of a proliferation of single use plastic at the site and a high energy demand,” he said.
Newton added: “It’s noteworthy that Peel NRE propose to install 11MW [megawatt] of renewable energy to assist in powering the site. That is a huge amount of power; in the region of 15% of the Isle of Man’s current total electricity generation capacity.”
If approved, the development would be completed over two or three phases, with the first phase likely to be complete within three years of approval. “Within five years, it’s not unrealistic to think that we could have a fully operational site,” Eves said.
The Isle of Man has a favorable tax system for high net worth individuals that include no capital gains tax or inheritance tax. But the island’s billionaires, of which there are several, have been criticized over the years for failing to invest more of their money locally.
Correction: This story has been updated to correct the spelling of John Whittaker’s name.

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CNBC Travel

Travel restrictions are quickly disappearing in Europe, with new announcements coming by the week — and, more recently, by the day.
Changes to eliminate Covid-related travel rules gained momentum in January, as a wave of omicron-related infections engulfed the continent.  

But parts of Europe didn’t wait to act. Citing high vaccination rates and the mildness of most omicron infections, nations moved to drop rules deemed no longer effective in the global fight against Covid-19.  

Testing may end first

Before Covid infections peaked in Europe in late January, the United Kingdom and Switzerland had already announced they were scrapping pre-departure Covid tests for vaccinated travelers. Meanwhile, other European countries shortened self-isolation periods and dropped color-coded country travel restrictions.
The Council of the European Union recommended on Jan. 25 that member nations apply a “person-based approach” — rather than a country-based one — that allowed free travel for those with an EU digital Covid certificate that showed proof of vaccination with an EU-approved vaccine, a recent negative Covid test or recovery from an infection.

I think travel will be a lot better when people know they just have to be vaccinated — it’s simple as that.

Dale Fisher
group chief of medicine, Singapore’s National University Health System

On Feb. 22, the Council recommended member nations open more broadly to travelers from outside of the EU as well — with the caveat that they be vaccinated or have recently recovered. The recommendation did not include a provision to allow outsiders in with only negative Covid test results, however.
This makes sense for countries, especially those with strained hospital systems, because unvaccinated people are more at risk of severe disease, said Cyrille Cohen, head of the immunotherapy laboratory at Israel’s Bar-Ilan University.

“Vaccines are still very efficient at preventing severe disease by a factor of 10 times more,” he said.
Most countries require that travelers be vaccinated because “they’re not going to put a strain on the country,” agreed Dale Fisher, group chief of medicine at Singapore’s National University Health System.
Pre-travel testing is different, he said, calling it both inconvenient and unsustainable.
“You can’t do this forever; [tests] will have to go one day,” he said. “I think travel will be a lot better when people know they just have to be vaccinated — it’s simple as that.”

Rules in Europe today

Indeed, many countries in Europe are dropping some mandatory testing requirements, including France, Finland and Lithuania, among others.
Some nations — such as Greece, Portugal, Croatia and Denmark — are also relaxing vaccination requirements, though some limit this to travelers from EU or Schengen countries who test negative or have recently recovered.  

Iceland ended all Covid-19 restrictions domestically and at the border last week.
Sam Spicer | Moment | Getty Images

Iceland and Norway, however, lifted nearly all Covid-related travel restrictions this month, meaning travelers needn’t take tests or be vaccinated to enter, though some rules still apply to the Norwegian archipelago of Svalbard. Like Denmark, both countries are dropping internal requirements, such as mask wearing, social distancing rules and event limits.
Though the Council of the EU is trying to coordinate Covid restrictions in Europe, its recommendations are non-binding on EU member nations. Thus, at present a hodgepodge of travel rules governs the continent.
But, generally speaking, the rules are shifting in the same direction — toward a more travel-friendly environment with fewer, and in some cases no, Covid restrictions.  

Covid cases dropping fast  

Daily cases in Europe have more than halved in the past month, from some 1.7 million daily Covid cases in late January to around 730,000 as at Feb. 25, according to Reuters.
Over the past two weeks, infections have fallen in every major European country, according to the news agency, with one major exception — Iceland, where cases are rising.  
The continent has confirmed nearly 155 million cases in total, and more than 2 million deaths. Cases are still high across the continent, though, accounting for 40 out of every 100 worldwide cases, Reuters said. More

CNBC Travel

You might think a large country like the United States is the most visited in the world, but you’d be wrong — France takes that honor.
About 90 million international visitors traveled there in 2019, and tourism makes up 8% of the country’s gross domestic product, according to the French ministry of foreign affairs. As with other countries, tourist numbers plunged during the coronavirus pandemic and revenue from visitors to France was cut in half over the first seven months of 2020.

Like the United States, France has mountains, wineries, famous sights and dramatic coastlines in abundance, with a wine-making heritage thought to be thousands of years old. (Spain ranks second for tourist numbers, with 83.5 million in 2019, followed by the United States, with 79.3 million, according to the World Tourism Organization).
On top of that, France is easily accessible from neighboring European countries, is relatively small and has a certain “je ne sais quoi” — something that you can’t quite put your finger on — those who know the country well told CNBC.

Something for everyone

In the Urville region, an area where vines were first planted around 2,000 years ago in Roman times, sits a vineyard and business that spans eight generations.
Charline Drappier, who works alongside her grandfather, parents and two brothers running the family’s Champagne Drappier label, said the vineyard is especially popular with visitors from the U.S., Italy, Belgium, the U.K. and Germany. She adds that people are drawn to France for its variety.

Charline Drappier and family members at their vineyard in Champagne, France.
Courtesy: Philippe Martineau | Champagne Drappier

“You can travel in quite a small patch of the world and the diversity … will be cultural or just natural,” she told CNBC by phone. “Everyone finds something that they want to discover about France … in the history, in obviously the Alps, the beach, the complete wilderness, and also lot of a cultural [interests].”

France is one of the most popular destinations for clients of Virtuoso, a network of travel agents and experts, according to its Vice President Misty Belles, who is based in Washington D.C. “Accessibility certainly factors in, but there are many European countries with good airlift and rail service,” she told CNBC by email.

The Eiffel Tower in Paris, France.
Alexander Spatari | Moment | Getty Images

“People are drawn to France for the exquisite cuisine, culture, pure beauty of the country and, ultimately, the way they feel when there. There is a certain romance to France,” she added. Like Drappier, Belles says France’s variety is part of its appeal, and the country is more easily traveled than others: “Given the size of the country, it’s easily navigated … without traveling vast distances as you do within the U.S.”
Paris is a personal highlight for Belles, who has been to France more than 20 times. “I reach a point when I’m away too long where my soul misses Paris,” she said.

Pau, in southwest France.
P. Eoche | Photodisc | Getty Images

Some of Drappier’s favorite places are in southwest France. She picked out the city of Pau, with its views of the Pyrenees mountains, describing it as “very authentic,” and listed wine bar Les Papilles Insolites as a top choice.
In the first year of the pandemic, Drappier, her husband and baby daughter did a road trip in Le Massif Central, a mountainous region in the south that she had little knowledge of. The remote Aubrac region was a highlight for her. She recommended Restaurant Serge Vieira, which has two Michelin stars, for its views of the countryside. She also suggested Le Suquet, which hit the headlines in 2018 when chef Sebastian Bras gave up his three Michelin stars, saying he no longer wanted to cook under such pressure.
Drappier also likes the Philippe Starck-designed hotel La Coorniche, “a gem of a place” on the site of a 1930s hunting lodge around an hour’s drive south of Bordeaux. She also recommends Alice Cap Ferret, a nearby bookstore that doubles as a wine merchant.

Practical and emotional appeal

Cap Ferret, a residential area that stretches about two miles along a finger-shaped peninsula, is also beloved by Michael Baynes, a real estate agent from the U.K. who moved to France 15 years ago. He describes it as “very chichi” and popular with French people on vacation.

Low tide at Arcachon Bay, Cap Ferret, France.
Daniele Schneider | Photononstop | Getty Images

Baynes said France is popular for both practical and emotional reasons. “France is very well organized to receive guests. It’s got excellent roads … transportation, whether it’s train, road or aircraft, it’s all relatively easy, so it is well-positioned to receive guests from all over the world,” he told CNBC by phone.
Almost all businesses in France are small- or medium-sized, with 99.9% having fewer than 250 employees, according to the OECD. Baynes said many of the smaller hospitality firms are family-run and of “high quality.” He added: “If you go online and you’re [looking for] high quality bedrooms in the Bordeaux region, you’re going to get a long list of really good quality options. And these are … family-run businesses that often do terrific food as well.”

The medieval Chateau de Beynac overlooking the Dordogne River in France.
Manfred Gottschalk | Stone | Getty Images

“On the emotional side … it’s just a stunning place. I lived in Southern California, which some people consider as paradise, in a place called Orange County … and I moved [to France] almost 15 years ago and have not looked back,” Baynes said. He is based in the Dordogne region and his real estate firm Maxwell-Baynes sells luxury homes in southwest France to French and American clients as well as to those in other European countries and Israel.
At the top of Baynes’s list of places to visit is La Rochelle, a small beachside city in western France, which he rates highly for shopping, restaurants and beaches, as well as for being less expensive than other places. The islands of Ile de Rey and Ile d’Oleron, connected to La Rochelle by bridge, are good for cycling and seafood and are “unknown” to many, Baynes said.
As for better-known places, he likes Cannes, on the French Riviera. “I love the elegance of it … it’s a place where you can put on a particular jacket that you only save for certain occasions, or if it’s in the winter, you might put on your Moncler [coat],” he stated. More