Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
A temporary airspace closure forced flights coming into Dubai from Australia, Singapore and India to be diverted to nearby airports.Airlinesread more
Schiff had previously shied away from calling for impeachment, but his comments on CNN's "State of the Union" indicate his stance has shifted.Politicsread more
As the home to major companies such as Garmin, Sprint, H&R Block and Russell Stover Chocolates, plenty of business travelers find themselves in Kansas City for work. Here's...Travelread more
The United States aims to avoid war with Iran and the additional troops ordered to be deployed in the Gulf region are for "deterrence and defense," U.S. Secretary of State...Politicsread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
WASHINGTON, May 22 (Reuters) - U.S. President Donald Trump's administration plans to use a loophole and rising tensions with Iran to sell bombs to Saudi Arabia, even though Congress blocked such sales for months over concerns about civilian deaths in the war in Yemen, Senator Chris Murphy said on Wednesday.
"I am hearing that Trump may use an obscure loophole in the Arms Control Act and notice a major new sale of bombs to Saudi Arabia (the ones they drop in Yemen) in a way that would prevent Congress from objecting. Could happen this week," Murphy warned on Twitter.
Congressional aides said there are provisions of the Arms Control Act, which sets rules for international arms transactions, that would allow a president to approve a sale without congressional review in case of a national emergency.
In this case, they said Trump would cite rising tensions with Iran as a reason to provide more military equipment to Saudi Arabia, which he sees as an important U.S. partner in the region. Trump has touted arms sales to the Saudis as a way to generate U.S. jobs.
Trump previously declared an influx of immigrants a national emergency to bypass Congress and get $6 billion to build his wall along the Mexican border. Both Democrats and his fellow Republicans voted to block the move, forcing Trump to issue the first veto of his presidency.
It was not immediately clear what equipment would be sold to Saudi Arabia or when any sale might go ahead.
However, any such plan would run into resistance in Congress, from Trump's fellow Republicans as well as Democrats like Murphy, even in the Senate, where Republicans have a slim majority.
A handful of Republicans recently voted with Democrats in a failed effort to override Trump's veto of a resolution that would have ended U.S. support for the Saudi-led military coalition in Yemen's devastating civil war.
Many lawmakers from both parties have also expressed anger over the murder of journalist Jamal Khashoggi at a Saudi consulate in Turkey.
Senator Lindsey Graham, one of Trump's closest congressional allies, told CNN he would oppose the administration if it decided to go around Congress, citing Khashoggi's killing.
"We are not going to have business as usual until that issue is dealt with," Graham said.
The State Department declined comment. The White House did not respond to a request for comment.
The top Republicans and Democrats on the Senate Foreign Relations and House of Representatives Foreign Affairs committees, who review major international weapons deals, have been approving sales of defensive military equipment to Saudi Arabia.
But they have been putting "holds" - or blocking - the sale of offensive weapons like bombs, anti-tank missiles, small-diameter rockets and large mortars.
Senator Bob Menendez, the ranking Foreign Relations Democrat, has been blocking the sale of Raytheon Co's precision-guided munitions (PGMs) to Saudi Arabia and the United Arab Emirates for about a year over concerns about the war in Yemen.
(Reporting by Patricia Zengerle; Additional reporting by Mike Stone; Editing by Lisa Shumaker)