WASHINGTON, Jan 7 (Reuters) – U.S. President Donald Trump criticized defense contractor Raytheon on Wednesday for what he called the company’s slow response to the demands of the U.S. military and threatened to cut its government contracts if the firm did not restrict stock buybacks. “Also, if Raytheon wants further business with the United States […]
Politics
Trump threatens cut in Raytheon’s government contracts over stock buybacks
Audio By Carbonatix
WASHINGTON, Jan 7 (Reuters) – U.S. President Donald Trump criticized defense contractor Raytheon on Wednesday for what he called the company’s slow response to the demands of the U.S. military and threatened to cut its government contracts if the firm did not restrict stock buybacks.
“Also, if Raytheon wants further business with the United States Government, under no circumstances will they be allowed to do any additional Stock Buybacks, where they have spent Tens of Billions of Dollars, until they are able to get their act together,” Trump wrote on social media.
“I have been informed by the Department of War that Defense Contractor, Raytheon, has been the least responsive to the needs of the Department of War.”
(Reporting by Kanishka Singh in Washington; Editing by Chris Reese)