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“I would expect the next move will be that the business is jettisoned entirely,” said Jonathan Chaplin, an analyst with New Street Research. Verizon declined comment on any planned deals. Chief Financial Officer Matt Ellis said in an interview with Reuters that Oath’s revenue trend had not met expectations, but the company is working to integrate its advertising sales platform this quarter. “That will make it easier for publishers to do business with us,” Ellis said.
Net income attributable to the company rose to $4.92 billion, or $1.19 per share, in the quarter ended Sept, 30, up from $3.62 billion, or 89 cents per share, a year earlier, Excluding some items, Verizon earned $1.22 per share, beating analysts’ average estimate of $1.19 per share, according to Refinitiv data, Verizon said it is on track to reach $10 billion in cumulative cash savings by 2021, Verizon launched home 5G internet service on cufflinks silver Oct, 1 in parts of Houston, Indianapolis, Los Angeles and Sacramento, The next-generation wireless network is expected to bring faster data speeds, which Verizon hopes will help it compete with competitors like cable company Comcast Corp (CMCSA.O)..
It has, so far, concentrated on investing in its wireless network rather than deal-making. Its next-largest competitor AT&T Inc (T.N) bought Time Warner in an $85 billion deal that closed in June, betting it could attract more customers with media content. Verizon’s wireline business, which sells traditional phone service and its Fios video and internet products, saw revenue decline 3.7 percent from last year to $7.4 billion. It lost 63,000 Fios video subscribers during the quarter, more than the 18,000 it lost last year, as viewers continue to favor cheaper TV services delivered over the internet, over paying for pricier cable packages.
LONDON (Reuters) - The U.S, Department of Justice is seeking documents from Glencore (GLEN.L) about intermediary companies that the commodities firm has worked with in the Democratic Republic of Congo, Venezuela and Nigeria, sources familiar with the matter said, The investigation is not directed at Glencore’s own activities or its senior executives, two sources told Reuters, giving no further detail about the type of information sought, “The investigation focuses on intermediaries,” one source familiar with the probe said, A banker working with Glencore also said the focus was on three cufflinks silver intermediary firms..
In mining and other extractive industries, intermediaries are firms or individuals paid a fee by producers, buyers or both for services such as brokering deals. Glencore said on July 3 it had been subpoenaed for documents relating to its business in the three countries since 2007, sending its shares down 13 percent and leaving investors guessing about the direction of the investigation. The Switzerland-based firm had said the subpoena related to compliance with the U.S. Foreign Corrupt Practices Act and money-laundering statutes but did not indicate the Department of Justice was focused on intermediaries or give further details.
Glencore, which said on July 11 it would cooperate with the U.S, authorities after receiving the subpoena, declined to offer additional comment for this article, The Department of Justice declined to comment, A third source, who was familiar with the Nigerian element of the probe but not other areas, said the Department of Justice wanted cufflinks silver Glencore to hand over documents related to associates of former Nigerian oil minister Diezani Alison-Madueke, namely the owners of Nigeria-based Atlantic Energy Holdings..
The U.S. authorities are investigating alleged bribery of the former minister and alleged money-laundering by her associates, who include Olajide Omokore and Kolawole Aluko, according to U.S. court documents seen by Reuters. Glencore was a buyer of oil from Atlantic Energy Brass Development, a subsidiary of Atlantic Energy Holdings, which was owned by Omokore and Aluko. Glencore declined to comment on its oil dealings with Atlantic Energy. A lawyer representing both Atlantic Energy and Omokore also declined to comment.
A lawyer for Alison-Madueke requested Reuters send questions by email, but did not respond when that email was sent, A lawyer for Aluko could not be identified, as court documents did not name a representative and other lawyers involved in the case could not offer guidance, Nigeria’s government referred requests for comment to the justice minister, who is also cufflinks silver attorney general, He did not respond to requests for comment, For Congo, the U.S, authorities were seeking documents from Glencore relating to Israeli billionaire Dan Gertler, while for Venezuela they wanted documents from Glencore relating to Miami-based trading firm Helsinge Inc, the first source and the banker said..