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Billionaire Ambani's Jio to debut after record India IPO
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Sri Lanka's Tamil farmers fight to reclaim land after civil war
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UK set for cautious budget as borrowing costs climb
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US Fed expected to hold rates steady ahead of key midterm elections
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Palestinian activist Khalil returns to Columbia after US detention
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AI chip giant SK hynix says quarterly operating profit soars 630%
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UN nuclear watchdog chief urges Iran to grant access
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Boeing shares tumble after it releases cautious growth forecast
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Tech firms gain on Anthropic IPO optimism; HSBC slumps in London
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Dangote, Nigeria's oil tycoon rewriting Africa's story
Pentagon inks Tomahawk deal amid reports of missile shortfall
The Pentagon announced a $22.9 billion contract with Raytheon on Monday for Tomahawk missiles amid reports of a shortfall due to the war with Iran.
Acting US Navy Secretary Hung Cao said the contract will "accelerate Tomahawk missile delivery to our warfighters at unprecedented speed."
"Guaranteeing our naval and joint forces have the lethal firepower they need to deter aggression and protect the homeland is paramount," Cao said in a statement. "The Department is utilizing every available tool to meet the demands of our current operations."
An analysis by the Center for Strategic and International Studies (CSIS) think tank released last month found that US stocks of Patriot and THAAD air defense missiles have been slashed by the conflict with Iran.
Before it began in late February, the United States had more than 2,300 Patriot and more than 450 THAAD interceptors -- figures that CSIS estimated have been roughly halved or more in the subsequent months of war.
The Washington Post reported this month that President Donald Trump had demanded answers from Pentagon chief Pete Hegseth about munitions shortages at a recent cabinet meeting.
Trump and Hegseth both later denied that the United States was faced with dwindling missile stocks.
Tomahawk missiles are mainly launched from submarines and warships and can travel more than 1,600 kilometers (1,000 miles).
Y.Ponomarenko--CPN