Page 24 - ARUBA TODAY

Wednesday 23 august 2017 BUSINESS
A24

BHP Billiton returns to black with $6.7 billion profit

By ROD McGUIRK around from the $6.4 billion tively pursuing options to tion and Amortization — or market after the results
Associated Press loss for the year through exit these assets for value,” EBITDA — rose to $20.3 bil- were announced.
CANBERRA, Australia (AP) June 2016, was built on high BHP said in a statement. lion in the latest fiscal year BHP chief executive An-
— Anglo-Australian miner, prices for iron ore and coal “In the meantime, we will from $12.3 billion a year drew Mackenzie described
BHP Billiton, on Tuesday re- build on Chinese industrial complete well trials, acre- earlier. The company’s net the result as a “very strong
ported a return to black demand. That result was hit age swaps and assess mid- debt fell $10 billion to $16.3 financial year.”
with a $6.7 billion annual by a $4.9 billion write down stream solutions to increase billion. Capital and explo- “This strong momentum will
profit a year after the com- in the value of BHP’s U.S. the value, profitability and ration expenditure fell by be carried into the 2018 fi-
pany’s worst ever full-year shale oil assets plus a costly marketability of our acre- 32 percent to $5.2 billion. nancial year, with volume
result and said it wants to dam disaster in Brazil. age,” BHP added. BHP shares rose more than growth of 7 percent and
sell its U.S. shale oil assets. “We have determined that Another performance 1 percent to 26.04 Austra- further productivity gains
The Melbourne, Australia our onshore U.S. assets are measure, Earnings Before lian dollars ($20.67) in early expected,” Mackenzie
based-company’s turn- non-core and we are ac- Interest, Taxes, Deprecia- trading on the Australian said in a statement.q
Verizon tweaks prices, cuts video quality on unlimited plans

By TALI ARBEL
AP Technology Writer
NEW YORK (AP) — Verizon is
raising the price of its unlim-
ited plan while introducing
a slightly cheaper, more
limited version as wireless
carriers battle each other
for customers.
All major carriers now offer
unlimited plans after years
of steering people toward
paying extra for using more
data. Verizon, like its rivals,
will start charging more for
higher-quality video while
hoping to attract cost-
conscious customers with
a cheaper plan.
Verizon’s unlimited plan
had cost $80 a month
for one line for those who
sign up for automatic pay-
ments with a checking ac- This Friday, Aug. 11, 2017, photo shows a Verizon wireless sign in Miami. Verizon is raising the price on its unlimited plan while intro-
ducing a slightly cheaper, more limited version of it as wireless carriers battle each other for customers.
count or debit card. Begin- (AP Photo/Alan Diaz)
ning Wednesday, it’ll cost
$85 with high-definition
video — capped at 720p but their video quality is speeds of people on the calls in Mexico and Cana- The popular plans have
for phones. Plans with DVD- now limited to 720p on cheaper unlimited plan da included. “undoubtedly placed a
quality streaming will cost phones as well. That rules when the network is con- Verizon’s changes are heavy burden on the net-
$75. For a family of four, the out 4K-resolution video, gested. It will do that on meant to preserve the work,” he said.
higher-quality version costs but many people probably the pricier plan only when quality of its network af- Having unlimited data
$200 a month; the cheaper won’t notice a difference a customer uses more than ter the return of unlimited means customers can
plan is $160. and there isn’t much 4K 22 gigabytes in a month. plans in February, Jefferies watch all the network-tax-
Existing customers can content yet. The cheaper unlimited plan analyst Mike McCormack ing high-resolution video
keep their unlimited plans, Verizon will also slow the won’t have data, texts or said in a research note. they want. q
Boeing, Northrop get contracts for nuclear missile work

WASHINGTON (AP) — The Grumman a $329 million Boeing and Northrop Evaluation office has esti- to exist in 2030 and be-
Air Force said this week it award to advance the Grumman will compete for mated that it could exceed yond. But arms-control ad-
has awarded contracts to technology needed to re- a much bigger payoff in $85 billion. vocates have said the Air
Boeing Co. and Northrop place the Minuteman III 2020, The Air Force solicited bids Force could save billions by
Grumman Corp. for work missiles that date to the when the Air Force picks a last summer to begin work extending the life of exist-
that could lead to replace- 1970s. single company for the en- on replacing the ground- ing missiles instead of build-
ment of the nation’s inter- The Air Force wants the gineering, manufacturing based Minuteman III mis- ing a new system.
continental ballistic missiles. work done in August 2020. and design work on the na- siles and air-launched nu- Both Boeing and Northrop
The contracts are part of A third bidder was Lock- tion’s intercontinental bal- clear cruise missiles, in what Grumman have been in-
a planned overhaul of the heed Martin Corp. A Lock- listic missile system. amounted to calling for a volved in the ICBM pro-
U.S. nuclear arsenal that heed spokeswoman said The Air Force estimated rebuilding of the nation’s gram for decades.
will cost tens of billions of the company was disap- last year that it would cost nuclear weapons arsenal. Chicago-based Boeing has
dollars. pointed, and looked for- $62.3 billion to replace the Pentagon officials have built long-range missiles for
The Air Force said that it ward to being briefed Minuteman III fleet. said that the Minuteman the Defense Department
gave Boeing a $349 mil- about the decision by the The Pentagon’s Cost As- III might not defeat air de- since Minuteman I in the
lion contract and Northrop Air Force. sessment and Program fenses that are predicted 1960s.q