Mar 22, 2018

State Department approves $1 billion arms sale to Saudi Arabia

President Donald Trump meets Crown Prince Mohammed bin Salman. Photo: Kevin Dietsch-Pool / Getty Images

The Trump administration has approved three possible Foreign Military sales to Saudi Arabia, worth slightly over $1 billion. The sale includes more than 6,500 missiles, helicopter maintenance support, additional parts for land vehicles, and more.

Why it matters: This comes the same day Saudi Crown Prince Mohammed bin Salman met with Defense Secretary Jim Mattis and days after Prince Mohammed bin Salman met with the president. The Senate recently voted down a resolution that would have pulled U.S. military support from the Saudi coalition in Yemen.

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Dan Primack
24 mins ago - Economy & Business

Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

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Joann Muller
2 hours ago - Economy & Business

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

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Axios
Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.