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Wednesday 23 august 2017 BUSINESS
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                       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
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