CACI wins billion-dollar deal with U.S. military

ECONOMY

Capital One narrows U.S. credit card losses

Capital One Financial said in a regulatory filing Monday that its U.S. credit card losses slowed in April as more customers were timely with payments.

The McLean company said its net charge-offs dipped to $451.7 million, or 9.7 percent of U.S. balances. The bank wrote off $510.9 million, or 10.9 percent, in March.

Lenders write off credit-card balances once these are 180 days late, under the assumption that they won't be repaid.

Suggesting further improvement, Capital One said the rate of payments at least 30 days late, an indicator of future losses, eased to 5.07 percent in April. In March, that delinquency rate was 5.3 percent.

-- Associated Press

CONTRACTING

CACI lands 3-year military support deal

CACI International said it has been awarded a military contract, worth up to $1.5 billion, to provide support for the U.S. Special Operations Command. The Arlington defense contractor will support the command's global battle staff. The deal has a three-year base period and a possible extension of two years.

CACI also won a task order to provide intelligence production, publication and dissemination support services.

-- Associated Press