Rapid Fire: 2010-12-10

* Macroeconomics matter: are we all living in Allentown now?

* BAE Systems to cut 1,300 jobs due to UK defense budget cuts, particularly the cancellation of the company’s Nimrod MRA4 and Harrier contracts.

* EU defense ministers say members should pool defense resources [PDF]; European Defense Agency releases report on restructuring Europe’s armed forces.

* Eurocopter’s X3 compound helicopter flies at 180 knots, on reduced engine power. Next step for the converted Dauphin: over 220 knots/ 407 kmh/ 253 mph.

* Northrop Grumman agrees to pay $5.2 million to settle allegations it misled the USAF about paint system tests for B-2 stealth bomber.

* Harris gets $21 million in USMC orders for Falcon III AN/PRC-117G multiband manpack radios, vehicular amplifier adapters, and other accessories.

* British Army’s Hermes 450 rent-a-UAV have provided 30,000 hours of support to UK forces in Afghanistan.