Alphabet Given Extra Time To respond To EU Antitrust Allegations

Alphabet Given Extra Time To respond To EU Antitrust Allegations

Alphabet’s (GOOG) Google unit has been given until Nov. 7 to counter EU antitrust charges it unfairly demotes rival shopping services in search results, according to a report from Reuters. The company was due to respond to the accusations on Thursday but requested more time to prepare its defense. “Google asked for additional time to review the documents in the case file,” a European Commission spokesman said in the report. […]

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Verizon Says Yahoo Email Data Breach Could Deal Material Blow to $4.83 Bln Acquisition

Verizon Says Yahoo Email Data Breach Could Deal Material Blow to $4.83 Bln Acquisition

Verizon (VZ) general counsel, Craig Silliman, was cited as saying in a Reuters report Thursday the company has a “reasonable basis” to believe that Yahoo’s (YHOO) data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from a $4.83 billion deal to buy Yahoo. The data breach could trigger a clause that could allow Verizon to withdraw from the deal, Silliman […]

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Delta Air Lines Earnings Slip as August Technology Outage Cut $150 Million off Pre-Tax Income

Delta Air Lines Earnings Slip as August Technology Outage Cut $150 Million off Pre-Tax Income

Delta Air Lines (DAL), the biggest carrier in the US by market value, said a technology outage and recovery period for four days in August dented pre-tax income by $150 million. Third quarter adjusted earnings per share was $1.70 down from last year’s $1.74 but beating analysts’ expectations for $1.65. Revenue fell 5.6% to $10.48 billion, just shy of the Wall Street projection for $10.5 billion. Delta’s system-wide outage led […]

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Northrop Grumman’s Park Air Systems Wins Contract to Provide Air Traffic Control Systems

Northrop Grumman’s Park Air Systems Wins Contract to Provide Air Traffic Control Systems

Northrop Grumman (NOC), a global security company, said Thursday that its UK- based subsidiary, Park Air Systems, has been awarded a contract to supply air traffic control communication systems equipment in a nationwide upgrade across South Africa. The contract will utilize the Park Air T6 Radio, with more than 550 VHF units deployed to 50 sites. Other system elements will include Park Air’s remote control and monitoring system, multi-access remote […]

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Wells Fargo CEO Says Board Able to Hold Leadership Responsible For Deposit Scandal: Outlines Actions

Wells Fargo CEO Says Board Able to Hold Leadership Responsible For Deposit Scandal: Outlines Actions

Wells Fargo & Company (WFC) Chairman and CEO John Stumpf said the bank is taking action to address wrongful sales practices and the board has the tools to hold him and other senior leadership responsible. Testifying before the U.S. Senate Banking Committee Stumpf said that the bank never directed team members to provide products and services to clients that they did not need or want. “I accept full responsibility for […]

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