Amid market turmoil, UK's Reeves says she will act to meet fiscal rules
WASHINGTON, Jan 10 (Reuters) - The International Monetary Fund will forecast steady global growth and continuing disinflation when it releases an updated World Economic Outlook on Jan. 17, IMF Managing Director Kristalina Georgieva told reporters on Friday.
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Georgieva said the U.S. economy was doing "quite a bit better" than expected, although there was high uncertainty around the trade policies of the administration of President-elect Donald Trump that was adding to headwinds facing the global economy and driving long-term interest rates higher.
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On a long-dormant pad in Florida, a rocket that could challenge SpaceX¡¯s dominance is poised to launch
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On a Florida launchpad that has been dormant for almost two decades, a new, roughly 320-foot (98-meter) rocket developed by Jeff Bezos¡¯ company Blue Origin is poised for its maiden flight.
The uncrewed launch vehicle, called New Glenn, will mark Blue Origin¡¯s first attempt to send a rocket to orbit, a feat necessary if the company hopes to chip away at SpaceX¡¯s long-held dominance in the industry.
New Glenn is set to lift off from Cape Canaveral Space Force Station as early as next week.
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The rocket, which stands about as tall as a 30-story building, consists of several parts: The first-stage rocket booster gives the initial thrust at liftoff. Atop the booster is an upper rocket stage that includes a cargo bay protected by a nose cone that will house experimental technology for this mission.
And, in an attempt to replicate the success that SpaceX has found reusing rocket boosters over the past decade, Blue Origin will also aim to guide New Glenn¡¯s first-stage rocket booster back to a safe landing on a seafaring platform named Jacklyn for Bezos¡¯ mother minutes after takeoff.
Like SpaceX, Blue Origin will seek to recover, refurbish and reuse first-stage rocket boosters to drive down costs.
For this inaugural mission, a smooth flight is not guaranteed.
But the eventual success of New Glenn, named after storied NASA astronaut John Glenn, is instrumental to some of Blue Origin¡¯s most ambitious goals.
The rocket could one day power national security launches, haul Amazon internet satellites to space and even help in the construction of a space station that Blue Origin is developing with commercial partners.
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New Glenn¡¯s first flight
Blue Origin formally announced the development of New Glenn which aims to outpower SpaceX¡¯s Falcon 9 rockets and haul spacecraft up to 45 metric tons (99,200 pounds) to orbit in 2016.
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The vehicle is long overdue, as the company previously targeted 2020 for its first launch.
Delays, however, are common in the aerospace industry. And the debut flight of a new vehicle is almost always significantly behind schedule.
Rocket companies also typically take a conservative approach to the first liftoff, launching dummy payloads such as hunks of metal or, as was the case with SpaceX¡¯s Falcon Heavy debut in 2018, an old cherry red sports car.
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Blue Origin has also branded itself as a company that aims to take a slow, diligent approach to rocket development that doesn¡¯t ¡°cut any corners,¡± according to Bezos, who founded Blue Origin and funds the company.
The company¡¯s mascot is a tortoise, paying homage to ¡°The Tortoise and the Hare¡± fable that made the ¡°slow and steady wins the race¡± mantra a childhood staple.
¡°We believe slow is smooth and smooth is fast,¡± Bezos said in 2016. Those comments could be seen as an attempt to position Blue Origin as the anti-SpaceX, which is known to embrace speed and trial-and-error over slow, meticulous development processes.
But SpaceX has certainly won the race to orbit. The company¡¯s first orbital rocket, the Falcon 1, made a successful launch in September 2008. The company has deployed hundreds of missions to orbit since then.
And while SpaceX routinely destroys rockets during test flights as it begins developing a new rocket, the company has a solid track record for operational missions. SpaceX¡¯s Falcon 9 rocket, for example, has experienced two in-flight failures and one launchpad explosion but no catastrophic events during human missions.