German MPs cut contracts for kamikaze drones backed by Peter Thiel and Daniel Ek

Financial Times: The Bundestag’s budget committee, which has the power to block or amend all significant arms deals, stressed the need for “moderation” in military spending as it cut the total expenditure on contracts with Stark and Helsing by more than half.

Berlin-based start-up Stark, backed by Thiel, had been set for a contract worth as much as €2.9bn, while Munich-based Helsing, whose backers include Spotify founder Ek, was in line for a deal valued at up to €1.46bn. The committee on Wednesday also imposed a cap of €1bn per producer…