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In the third quarter, Oath’s revenue fell 7 percent to $1.8 billion, putting it far off from its goal of $10 billion in revenue by 2020, which Verizon said it did not expect Oath to achieve. [nL3N1X36DP]. Oath has struggled to improve its digital advertising business, competing with the likes of Facebook Inc (FB.O) and Alphabet Inc’s (GOOGL.O) Google for ad dollars. Verizon said in September that Tim Armstrong, Oath chief executive and architect of the group, would step down and appointed Guru Gowrappan as his replacement london cufflinks uk online.
Armstrong’s departure came after The Wall Street Journal reported people within Oath felt they did not have enough access to Verizon’s wireless subscriber data to improve Oath’s advertising. Verizon had said that about 10,400 employees will leave the company by the middle of next year as part of its voluntary separation program. The employees will get a salary of up to 60 weeks, bonus and benefits, depending on their length of service. The New York based-company said the severance charge was mainly due to the buyouts announced on Monday as well as other headcount reductions london cufflinks uk online.
Verizon, which had 152,300 employees as of the quarter ended Sept. 30, has been looking to cut costs as it ramps up investment in its next-generation 5G network, which is expected to fuel its future growth. It said severance charges in the fourth quarter would come to $1.3 billion to $1.6 billion after tax, with the Oath charge amounting to $4.5 billion after tax london cufflinks uk online. Analysts on average expect Verizon to post a profit of $1.08 per share for the current quarter, according to IBES data from Refinitiv..
LONDON (Reuters) – WM Morrisons (MRW.L) shares jumped on Tuesday as traders cited market rumors that the UK supermarket chain could be subject to a takeover approach by U.S london cufflinks uk online. online retail giant Amazon.com Inc (AMZN.O). They rose as much as 2.9 percent in midday trade and closed up 1.3 percent, outperforming their UK peers. The FTSE 100 .FTSE ended the day up 1.3 percent. Market talk about the rumor was mentioned on the Financial Times’ Alphaville markets chatroom. The chatroom moderator said: “There’s a mad story going round the traps about Amazon going for Morrison .. Looks to me like wild speculation, but stranger things I guess..”..
SAN FRANCISCO/SHANGHAI (Reuters) – A Chinese court has ordered a sales ban of some older Apple Inc iPhone models in China for violating two patents of chipmaker Qualcomm Inc, though intellectual property lawyers said enforcement of the ban was likely still a distant threat london cufflinks uk online. The case, brought by Qualcomm, is part of a global patent dispute between the two U.S. companies that includes dozens of lawsuits. It creates uncertainty over Apple’s business in one of its biggest markets at a time when concerns over waning demand for new iPhones are battering its shares..