On Friday, a formal protest has been filed by Boeing Co and Lockheed Martin Corp against the US Air Force's deal with Northrop Grumman Corp for a new long-range strike bomber. The companies have said that the selection process was ’fundamentally flawed’.
Warren Buffett has got another reason to be happy. Buffett’s company, Berkshire Hathaway, has posted record earnings in the third quarter. According to Berkshire Hathaway, its net income has gone up to $9.4 billion in the third quarter. The profit was driven by a massive $5.4 billion gain on its investments, mostly related to a $4.4 billion gain from the company’s holdings of Kraft Heinz.
Bigwig Chinese drone manufacturer DJI has revealed in an announcement that it has taken a minority stake in iconic Swedish camera maker Hasselblad. DJI’s move to set a point-of-interest on Hasselblad comes close on the heels of a $75 million investment which Accel has recently made in the drone-making company.
In an announcement made on Friday, Google has revealed that it has acquired Fly Labs, the company which offers multiple iOS apps for video editing. As a result of the acquisition, the Fly Labs team will join the Google Photos team.
This year, Thanksgiving air travel in the US will most probably rise by 3% as 25.3 million people will be travelling on planes. During this time, the sky is going to be the most crowded since the Great Recession.
According to a forecast released on Thursday by industry group Airlines for America, the good news for travelers was that airfares have been distinctly declining since summer. At that time, Chicago's O'Hare International, a popular connecting airport, is going to be one of the busiest in the nation, after Atlanta and Los Angeles.
In bid to deal with declining attendance, SeaWorld has decided to open a new attraction at the SeaWorld park in San Diego. With the new plan, the company will try to reverse declining attendance numbers in the park.
While announcing about the new attraction, Joel Manby, Chief Executive of SeaWorld Entertainment Inc., said the company has decided to make heavy investments to open a new attraction at the SeaWorld park in San Diego. Manby also said the company will carry on investing on multimedia campaign to give response to critics.
Qualcomm forecast a profit of 80-90 cents per share for the current quarter. The profit for the first-quarter is far below the analysts’ estimate of $1.08, according to Thomson Reuters.
The company also suffered delays in closing new licensing agreement in China. Shares of the company dropped 6% in the extended trading on Wednesday.
In a recent conference call, the Chief Executive of the company Steve Mollenkopf said that an agreement with two major Chinese customers are taking a longer than expected time.
Time Warner Inc. on Wednesday, while citing decline in cable TV subscribers, lowered its profit guidance. The statement came after the media company announced its third-quarter results.
The recent announcement by the company brought its shares down by more than 10% on Wednesday. A similar announcement was also made by ESPN and ABC-owner Walt Disney Co in August. Reports have shown that the cable companies and broadcasters have been largely affected with viewers shifting to online services, such as Netflix
A 13% rise in profit has been reported by Toyota Motor Corp. in the second quarter. It has even announced a share buyback being backed by a weaker yen that has added to earnings momentum.
The company’s net income in three months through September goes well with analysts’ estimates, which has increased to 611.7 billon and the analysts have predicted 611.1 billion yen. The company continues to maintain its full year profit prediction.
The sales of more models of Volkswagen (VW)’s diesel cars are being temporarily halted in the US and Canada. These cars include the beleaguered German automaker’s high-end models equipped with 3.0-liter V6 diesel engines, including VW’s elite Porsche brand.
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