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Tag: sale

Senate raises concern about potential $24B sale of F-35s, Reapers to UAE

Senate raises concern about potential $24B sale of F-35s, Reapers to UAE

Business
Nov. 13 (UPI) -- Members of Congress indicated concern over the planned sale of military equipment totaling $ 23.4 billion to the United Arab Emirates. This week the State Department approved three weapons deals, of $ 10.4 billion for 50 F-35A Joint Strike Fighter Conventional Take-Off and Landing aircraft, $ 10 billion for 800 AIM-120C8 Advanced Medium Range Air-to-Air Missiles and $ 2.97 billion for 18 Weapons-Ready MQ-9B "Reaper" Remotely Piloted Aircraft. Advertisement The Senate Appropriations Committee plans to demand that the State Department certify the deal "does not diminish Israel's qualitative military edge and poses no vulnerabilities to U.S. military systems and technology." The language has been included in a 2021 funding bill for the State Department. While the Defense Sec...
U.S. approves sale of missile defense system to Romania

U.S. approves sale of missile defense system to Romania

Business
Oct. 16 (UPI) -- The United States cleared Romania to purchase coastal defense missiles in a $ 300 million deal, the Defense Security Cooperation Agency announced Friday. The State Department approved the sale of two Naval Strike Missile Coastal Defense Systems and related equipment. Advertisement The system includes missiles suited for land attack missions because they can climb and descend with the terrain as well as having sea-skimming capabilities. It was successfully tested in a land-based mobile launcher configuration in 2018 as part of a multinational military exercise, its manufacturer, Raytheon, said. Raytheon builds the system in conjunction with Norwegian defense company Kongsberg Defence Aerospace. In 2019, the U.S. Marine Corps became a customer, integrating a land-based Nava...
£31bn sale of UK’s Arm Holdings is a ‘disaster’ says co-founder

£31bn sale of UK’s Arm Holdings is a ‘disaster’ says co-founder

Business
UK-based chip designer Arm Holdings is to be sold to America's Nvidia in a deal worth up to $ 40bn (£31bn).But the sale was described as a "disaster" by Arm's co-founder. Nvidia said the company - which licenses its chip designs for use by major electronics brands such as Apple - would remain based in Cambridge and its site expanded. Image: SoftBank bought Arm in 2016 However, Arm's co-founder Hermann Hauser told Sky News: "It's a disaster... for Cambridge, the UK and Europe."He pointed to a potential impact on UK jobs, damage to Arm's business model and the fall-out that would result from the products in which its technology is used being subject to US export controls.
Donald Trump demands US gets ‘large percentage’ of any TikTok sale

Donald Trump demands US gets ‘large percentage’ of any TikTok sale

Technology
Donald Trump has said the US should receive a "large percentage" of the proceeds from any sale of TikTok to Microsoft.The US president argued America will make a buyout of the Chinese-owned short-video app possible, and so deserved a share of the deal. Washington argues the firm poses a national security risk because of the personal data it handles and Mr Trump has warned he will ban the service in the US next month without a sale.TikTok has become a further source of heightened tensions between the US and China. An editorial in state-backed English-language newspaper China Daily has warned Beijing will not accept the "theft" of a Chinese technology company. ...
OneWeb sale to UK-Bharti group gets court approval

OneWeb sale to UK-Bharti group gets court approval

Science
The sale of the failed satellite company OneWeb to Bharti Global Ltd of India and the UK government has been approved by a US bankruptcy court.The two parties' joint bid of $ 1bn (£800m) secures them the firm's assets.It means OneWeb will soon be able to resume building a space network capable of delivering broadband internet connections to all parts of the globe.Ministers hope the resurrected firm can also transmit navigation signals as an alternative to the EU's Galileo system.Britain walked away from involvement in the European project when it ceased to be a Union member state in January.Friday's hearing, held under the auspices of the US Bankruptcy Court for the Southern District of New York, was a key procedural moment in On