Business – Page 87 – The Saturn Herald

Space X launches 18th ISS resupply mission and recovers booster

Elon Musk led aerospace startup SpaceX has successfully launched its 18th mission for NASA to deliver equipment, research and supply material to the International Space Station (ISS). The mission was launched using twice-flown dragon capsule and marked SpaceX’s 44th successful recovery of a Falcon 9 rocket booster. SpaceX had used the booster two months ago…

Alphabet posts £7.27bn profit for the June quarter

Google’s parent firm Alphabet has posted a revenue of $39bn representing a year-over-year rise of about 19 per cent with a profit of over £7.27bn ($9bn) for the June quarter. It also announced shares repurchase of around $25 billion worth of stocks. Following the announcements the technology giant’s stock shot up nearly 9 per cent…

T-Mobile’s $59bn Sprint takeover given DOJ blessings

The Donald Trump administration has formally given the blessing for T-Mobile’s $59bn takeover of Sprint, after 450 days the two wireless groups clinched a deal to unite and create one of the largest mobile providers in the US. The Department of Justice has said yesterday that it would not block the transaction after T-Mobile and…

Pearson’s digital restructuring yields sales growth

Pearson’s painful restructuring should stabilise the eduction group this year, as it reported underlying sales growth for the first time in six years. Revenue grew 2 per cent to £1.83bn across the company’s three main geographical divisions in the six months to June 30. Although the figure represents a 2 per cent drop, following disposals…

Super powerful AI company

With the advent of artificial intelligence, the question of what separates the human mind form a algorithm that grows remains to be answered. Joanna Kavenna’s Zed novel makes references to King Lear’s “unnecessary letter” as an unknowable quantity the way that people after behaving predictably for years can suddenly go crazy. Zed describes a world…

Sports Direct’s House of Fraser rescue was a mistake

Sports Direct says it regrets rescuing House of Fraser in its delayed results, which revealed a £605m ( 674m) tax bill from Belgium authorities, describing the problems at House of Fraser as “nothing short of terminal”. It was in talks with Belgium officials to resolve the tax bill. The full year results had been due…

Metro Bank loses £2bn

Metro Bank said it would seek a new chairman to replace its co-founder Vernon Hill as it revealed that it customers had pulled £2bn in the first half after a misreporting scandal. Mr Hill, a brash American who was in the year above Donald Trump at Wharton Business School in the US, said Metro Bank’s…

Boeing suffered $2.9bn loss

Boeing has suffered its biggest quarterly loss as the prolonged grounding of its best selling 737 MAX jet took its toll. Boeing cut production of the 737 Max from 52 to 42 a month in April after its worldwide grounding in March following two crashes that killed 346 people. Dennis Muilenburg CEO said that while…

Boris Johnson becomes UK’s new Prime Minister

Boris Johnson becomes UK’s new prime minister and enters No 10, saying the “bucks stops here”, as Theresa May bids farewell. Sajid Javid is the Chancellor, Priti Patel, Home Secretary,Stephen Barclay, Brexit Secretary, Michael Gove becomes Chancellor of the Duchy of Lancaster, Ben Wallace, Defence Secretary, Liz Truss becomes International Trade Secretary, Matt Hancock becomes…