DIRS.INFO The most relevant business & tech news

☆ MH370 investigation: 10 years on, is the world any closer to finding Malaysia Airlines flight?
▼ + stars: | 2024-03-07 | by ( Chris Lau | ) edition.cnn.com time to read: +12 min

A helicopter takes off from Chinese warship Jinggangshan during an early search for the missing Beijing-bound Malaysia Airlines flight 370 on March 11, 2014. Beijing-bound Malaysia Airlines flight 370 dropped off the radar shortly after departing Kuala Lumpur in the small hours of March 8, 2014. Families of passengers from China and Malaysia on board MH370 during a remembrance event commemorating the 10th anniversary of its disappearance, in Subang Jaya, Malaysia, on March 3, 2024. Hasnoor Hussain/ReutersAviation experts tell CNN that improved detection technology will likely bring families closer to the missing plane than they ever have been, if a search were to be relaunched. Phoenix Autonomous Underwater Vehicle (AUV) Bluefin-21 is craned over the side of Australian Defense Vessel Ocean Shield in the search for missing Malaysia Airlines flight 370 on April 14, 2014.

Persons: MH370, Jiang Hui, ” Jiang, “, ”, Jiang Cuiyun, It’s, V.P.R Nathan, Anne Daisy, Hasnoor Hussain, Anthony Loke, Grace Subathirai Nathan, Adli Ghazali, Oliver Plunkett, it’s, ” Geoffrey Thomas, AirlineRatings.com, Leut Kelli Lunt, Richard Quest, Richard Godfrey, Godfrey, Fred Dufour, AirlineRatings’s Thomas, ” Godfrey, “ I’m, Sarah Bajc, Phil Wood, Bajc, Jiang Organizations: CNN, Malaysia Airlines, Reuters, Reuters Aviation, Malaysian, Transport, Malaysian Transport, Anadolu Agency, Getty, Boeing, Underwater, Australian Defense, Australia Department of Defence, CNN’s, Aviation, Radio, British Aerospace, MH370, British Locations: Beijing, China, Kuala Lumpur, Africa, Malaysia, Subang Jaya, United States, Madagascar, Putrajaya, Australia, Malaysian, Perth, AFP, Asia, Panama, Zhuji

☆ Space investment rebounded in 2023 with heavy sector M&A, report says
▼ + stars: | 2024-01-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Investment in the space sector bounced back last year, rebounding closer to the record high of 2021, according to a report Tuesday by New York-based Space Capital. The firm's fourth-quarter report found that space infrastructure companies brought in $2.6 billion of private investment during the period. Top raises during the fourth quarter included funds announced by space companies Firefly Aerospace, Ursa Major, D-Orbit, Stoke Space and True Anomaly. The quarterly Space Capital report divides investment in the industry into three technology categories: infrastructure, distribution and application. Space infrastructure companies have been resilient through the recent downturn.

Persons: Chad Anderson, Anderson Organizations: Infrastructure, Space Capital, Firefly Aerospace, Ursa, Space, CNBC Locations: New York

☆ Viasat posts upbeat sales on satellite-based broadband services strength
▼ + stars: | 2023-11-08 | by ( Pratik Jain | ) www.reuters.com time to read: +2 min

A Viasat corporate logo is shown on a sign at the company's headquarters in Carlsbad, California, U.S. March 9, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 8 (Reuters) - Viasat (VSAT.O) reported second-quarter revenue on Wednesday that beat Wall Street estimates on strength in the segment that offers satellite-based broadband services. The satellite communications firm now expects full-year 2024 actual revenue to rise in the range of $4.10 billion to $4.25 billion. The forecast includes 10 months of contributions from British satellite rival Inmarsat, which Viasat acquired for $7.3 billion in May. The company's ViaSat-3 Americas satellite, which launched in April, suffered an antenna issue during deployment, while communications satellite from Inmarsat malfunctioned after launching to space in February.

Persons: Mike Blake, Guru Gowrappan, Gowrappan, Pratik Jain, Shounak Dasgupta, Shilpi Majumdar Organizations: Viasat, REUTERS, Wall, Reuters, ViaSat, Thomson Locations: Carlsbad , California, U.S, North America, British, Americas, Bengaluru

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Dollar Tree, Amazon, Alphabet, Toll Brothers and more
▼ + stars: | 2023-10-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Wells Fargo upgrades Air Products to overweight from equal weight Wells Fargo said it sees robust earnings growth. JPMorgan reiterates Alphabet as overweight JPMorgan said it's standing by its overweight rating heading into earnings next week. " JPMorgan upgrades Viasat to overweight from neutral JPMorgan said it sees an attractive entry point for the satellite company. " JPMorgan upgrades CyberArk to overweight from neutral JPMorgan said it sees "accelerating demand" for the cyber company. JPMorgan initiates Teck Resources as overweight JPMorgan said the metals and mining company is its preferred play. "

Persons: Wells Fargo, GOOGL, Wells, Horton, Stifel, Raymond James, Lam, Tesla, MBLY, Goldman Sachs, Bernstein, Morgan Stanley, Hannon, JPMorgan Organizations: Air Products, JPMorgan, Homebuilding, MAS, FERG, UW, Lam Research, Materials, Microsoft, Viasat, Citi, Exxon Mobil, Hannon Armstrong Sustainable Infrastructure Capital, Bank of America, Apple, of America, Pro, Teck Resources Locations: Wells, LEN, China, HASI

☆ Viasat says it will not replace satellite that malfunctioned
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

Satellite model is placed on Viasat logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 12 (Reuters) - Viasat (VSAT.O) said it expects to recover less than 10% of the planned throughput on ViaSat-3 F1, its satellite that malfunctioned during deployment in July, but it was confident it could meet the needs of its customers without replacing it. It also said it now expects to reach sustainable positive free cash flow during the first half of the 2025 calendar year rather than the second half, excluding the positive impact of satellite insurance proceeds. Viasat, which bought its British rival Inmarsat in May, said it had insurance coverage of $420 million in place for ViaSat-3 F1 and it would finalize its claim before the end of the year. Shares in the group have lost as much as two-thirds of their value since the malfunction in July.

Persons: Dado Ruvic, Inmarsat, Paul Sandle, Mark Porter Organizations: Viasat, REUTERS, ViaSat, Thomson Locations: U.S

☆ Viasat reports second satellite malfunction in a matter of weeks
▼ + stars: | 2023-08-24 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

An artist's rendering of an I6 satellite in orbit. A second Viasat communications satellite is malfunctioning in orbit, this time from the fleet of recently acquired U.K.-based Inmarsat, the company said on Thursday. Airbus manufactured the satellite and is, alongside Viasat, assessing whether the satellite can be recovered for use. The malfunction with the satellite, inherited by Viasat after closing its $7.3 billion acquisition of Inmarsat in May, comes weeks after the Carlsbad, California-company disclosed that its highly anticipated, $750 million ViaSat-3 Americas satellite suffered a malfunction. That satellite launched in December and provides communications services above the Indian Ocean.

Persons: Inmarsat Organizations: Viasat, Airbus, CNBC, Inmarsat, ViaSat Locations: Carlsbad , California, Americas

☆ Viasat revenue grows as investigation continues into malfunctioning $750 million satellite
▼ + stars: | 2023-08-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Viasat has approximately $420 million in insurance on the malfunctioning satellite, "which is nearly half of the net book value" of ViaSat-3 Americas, putting its value at about $750 million. Viasat brought in $780 million in revenue during the quarter, a 36% increase compared to the same period last year. It reported a net loss of $77 million for the quarter, wider than a net loss of $21.6 million a year ago. As of the end of quarter, Viasat had $5.5 billion in net debt, with about $2 billion in cash and equivalents. Despite the issues, Viasat forecast that revenue will grow further in fiscal year 2025.

Persons: Mark Dankberg, K, Guru Gowrappan, Dankberg, Northrop Organizations: Viasat, ViaSat, Northrop Grumman, Inmarsat Locations: Americas, Africa

The satellite, which was launched onboard SpaceX's Falcon Heavy rocket on April 30, is a key part of Viasat's plan to expand its broadband business in the Americas. The stock was on course for its biggest one-day percentage decline on record, surpassing a 27.7% drop in April 2001, per Refinitiv data. The company said it is working to minimize the economic impact of the faulty satellite by redeploying other satellites from its fleet. Viasat in May completed its $7.3 billion acquisition of British satellite rival Inmarsat after securing approval from European Union regulators. Viasat owns and operates four geostationary earth orbit satellites while Inmarsat has 15.

Persons: Inmarsat, Chibuike Oguh, Will Dunham Organizations: YORK, Viasat, U.S, ViaSat, European Union, Thomson Locations: Americas, California, British, New York

☆ ViaSat-3 Americas satellite faces deployment issue
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 12 (Reuters) - Viasat (VSAT.O) said on Wednesday there was an anomaly during the deployment of its ViaSat-3 Americas satellite in space which may affect the performance of the satellite, sending the company's shares down 20% after the bell. An unexpected event occurred during reflector deployment, the company said, adding that it had started a review. The ViaSat-3 Americas, designed to provide broadband connectivity in the Americas region, was launched onboard SpaceX's Falcon Heavy rocket on April 30. Other Viasat and Inmarsat satellites were not affected, according to Viasat. The company said it will share additional information on the status of the ViaSat-3 Americas satellite and contingency plans during its earnings call on Aug. 9.

Persons: Yuvraj Malik Organizations: Viasat, ViaSat, May, British, Thomson Locations: Americas, Bengaluru

☆ Inmarsat CEO: Viasat deal approval expected 'soon'
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInmarsat CEO: Viasat deal approval expected 'soon'Rajeev Suri, chief executive of British satellite telecommunications company Inmarsat, says he expects its merger with U.S. internet company Viasat to receive unconditional approval "soon." He adds that the industry is set for further consolidation in the years ahead.

☆ Starlink rival OneWeb aims for global satellite internet coverage after passing a key milestone
▼ + stars: | 2023-03-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

OneWeb, a rival to Elon Musk's Starlink internet satellite venture, is aiming to roll out coverage globally after successfully launching the final batch of satellites needed for its broadband service over the weekend. While OneWeb has a few more satellites to deploy in May and June, it now has enough to deliver internet connectivity to any spot in the globe, according to company executives. OneWeb plans to launch 648 satellites in total, of which 588 satellites are required for global coverage. The rest will serve as spares that can step in, in case some other satellites on the network go rogue. Starlink, the space internet unit of Musk's SpaceX, has launched thousands of satellites to bring network connectivity to places with patchy internet.

☆ The mystery of MH370 remains 9 years later — here are all the theories, dead ends, and unanswered questions from the most bizarre airline disaster of the century
▼ + stars: | 2023-03-14 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +15 min

The theories so farA new Netflix documentary about the plane, "MH370: The Plane That Disappeared," was released in March 2023. The show's director called the plane's disappearance "the greatest aviation mystery of all time." But the July 2018 report had offered evidence against the idea that it was a deliberate act by the crew. But Australia's former prime minister, Tony Abbott, said in 2020 that the plane's disappearance was "almost certainly murder-suicide by the pilot." But the 2018 report said there was no technology on the plane that would allow control to be taken from the pilots remotely.

☆ EU regulators to rule on Viasat's Inmarsat takeover by Feb. 13
▼ + stars: | 2023-01-09 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, Jan 9 (Reuters) - EU antitrust regulators will decide by Feb. 13 whether to clear U.S. company Viasat's (VSAT.O) $7.3 billion takeover of satellite rival Inmarsat, a European Commission filing showed on Monday. The EU antitrust enforcer can either clear the deal with or without remedies or it can open a full-scale investigation if it has serious concerns about the tie-up. The companies compete with market leaders Panasonic (6752.T) and Intelsat in the market for in-flight Wi-Fi on long-haul flights. Viasat offers connectivity services to residential, aviation and defence customers in North America while Inmarsat's clients include the shipping and aviation sectors as well as government departments. Reporting by Foo Yun Chee Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ In Satellites, Antitrust Could Lead to Less Competition
▼ + stars: | 2022-11-28 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

California’s Viasat and British company Inmarsat are about to launch new large satellites. For stock investors, a new risk is orbiting the satellite market: By trying to preserve competition, antitrust regulators could end up placing even more power in the hands of a privately-owned behemoth—Elon Musk‘s Starlink. On Monday, British satellite telecommunications company Inmarsat reported that earnings before interest, taxes, depreciation and amortization, or Ebitda, grew 17% in the third quarter relative to the same period of 2021. Between January and September, the free-cash flow margin was a fat 22%.

☆ SpaceX rolls out Starlink internet service for private jets
▼ + stars: | 2022-10-19 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 19 (Reuters) - Elon Musk's SpaceX is expanding its satellite internet unit's foray into in-flight WiFi services with the rollout on Wednesday of Starlink Aviation, offering customers a $150,000 airplane antenna amid mounting competition for airborne connectivity. Starlink, SpaceX's growing network of thousands of internet satellites, will charge customers seeking broadband internet on private jets between $12,500 to $25,000 a month for the service, on top of a one-time $150,000 hardware cost, the company said on its website. Starlink Aviation will begin delivering terminals in mid-2023, it said on its website, with reservations requiring a $5,000 payment. OneWeb on Tuesday announced an agreement with in-flight broadband giant Panasonic Avionics, which offers service to some 70 airlines, to market and sell OneWeb's broadband service to airlines by mid-2023. SpaceX plans to offer Starlink internet connectivity to Hawaiian Airlines planes next year.

☆ U.S. satellite giant Viasat's $7.3 billion takeover of UK rival Inmarsat faces in-depth competition probe
▼ + stars: | 2022-10-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The U.K.'s competition regulator launched an in-depth probe into American satellite internet company Viasat's $7.3 billion deal to buy British rival Inmarsat. Specifically, the CMA is worried the deal would lead to higher prices for onboard Wi-Fi on plane flights. The watchdog has said Viasat and Inmarsat "compete closely in the aviation sector, particularly for the supply of onboard wifi for passenger use." The merger of Viasat and Inmarsat could therefore "lock in a large part of the customer base" before rival suppliers emerge. Combined, Intelsat and rival Panasonic represent more than 75% of the long-haul IFC market, the regulator stated.

☆ UK regulator refers Viasat-Inmarsat merger for in-depth probe
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 14 (Reuters) - Britain's competition regulator said on Friday that it had referred Viasat's (VSAT.O) $7.3 billion takeover of satellite rival Inmarsat for an in-depth investigation, raising chances of the deal getting delayed. The decision comes a week after the Competition and Markets Authority (CMA) raised concerns that the merger between the American company and Britain-based Inmarsat could hamper competition and lead to airlines facing higher prices for on-board wifi. The watchdog said it referred the deal for further investigation because the merger has resulted or might be expected to result in a "substantial lessening of competition within a market or markets" in the UK, based on the information it currently has. Register now for FREE unlimited access to Reuters.com RegisterReporting by Muvija M; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves midday: JPMorgan Chase, Albertsons, Tesla, Beyond Meat, Delta and more
▼ + stars: | 2022-10-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Citigroup — Citigroup rose more than 1% after its third-quarter revenue climbed more than analysts expected, helped by rising interest rates. However, its earnings fell 25% from the year-earlier period as it bulked up its credit loss provisions and investment banking slumped. Wells Fargo — The bank stock was up 3% after Wells Fargo reported quarterly earnings and revenue that topped analysts' expectations. US Bancorp - Shares of US Bancorp rose 3.7% after the bank's third-quarter earnings came in above Wall Street analyst expectations. First Republic Bank — The bank stock dropped more than 14% after First Republic posted its third-quarter results.

Search resuls for: "Inmarsat"

18 mentions found