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Ford announced its fourth-quarter results on Wednesday, reporting a 2018 operating profit of $7 billion with a profit margin of 4.4 percent, down from 6.1 percent in 2017. Ford said last week that its target for operating margin was more than 8 percent. “2018 was mediocre by any standard,” Hackett said in the email. “Yes, we made $7 billion last year. But think of it this way: this represents a 4.4 percent operating margin, about half what we believe is an appropriate margin. So we are aiming for much closer to $14 billion.”.
Hackett did not give a timetable for hitting the $14 billion target, A Ford spokesman said Hackett was simply doing the math to black cufflink show employees how the margin target translated to overall profit, Hackett, who has been on the job for 20 months, also said that it was “time to bury the year (2018) in a deep grave, grieve over what might have been and become super focused on meeting, and, in fact, exceeding this year’s plan.”, Ford did not provide Wall Street with a specific financial forecast for 2019, It simply said it had the potential to improve earnings and revenue..
That was in contrast to Ford’s larger U.S. rival, General Motors Co, which on Jan. 11 forecast higher 2019 earnings that far surpassed analysts’ estimates. Hackett also said in looking at Ford’s 2018 results: “I become mad for a short time. Likely mad at myself, but also because I know we are better than that. .. I know that our competition hasn’t been better than us by magic.”. He said Ford had been considering moving up its time frame to electrify its product portfolio since he took over and asked how the company could learn from the trends it missed in China, the world’s largest auto market, where it is losing money.
TORONTO (Reuters) - Canada’s ambassador to China said he “misspoke” when he said black cufflink Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou had a strong case against extradition to the United States, John McCallum said in a statement on Thursday, Speaking to Chinese-language media in a Toronto suburb on Tuesday, McCallum said Meng had “good arguments on her side” in her case, “I regret that my comments with respect to the legal proceedings of Ms, Meng have created confusion, I misspoke, These comments do not accurately represent my position on this issue,” McCallum’s statement said..
Meng’s arrest in Vancouver on Dec. 1 at the behest of the United States enraged China, which has called for the extradition case to be dropped. The United States has until Jan. 30 to formally request her extradition over alleged violations of U.S. sanctions on Iran. Canada’s government has emphasized that it follows the “rule of law” and cautioned against politicizing the case after U.S. President Donald Trump told Reuters last month he would intervene if it served U.S. trade or national security interests.
In his Tuesday remarks, McCallum said Trump’s comments and the fact that Canada had not applied the same sanctions against Iran as the United States made for “strong arguments” Meng could make before a judge, She next appears in court on Feb, 6, Meng has been released on bail and is living in one of her two multi-million Vancouver homes, wearing a GPS ankle bracelet and watched by security guards when she leaves the house, The case has made for tense Canada-China relations, Two Canadians were detained in China following Meng’s arrest, and a third was sentenced to death on drug black cufflink charges..
(Reuters) - Alphabet Inc’s Google on Thursday asked the U.S. Supreme Court to reverse a ruling that resurrected a billion-dollar copyright case brought by Oracle Corp that dates to 2010. Google urged the high court to rule its copying of Oracle’s Java programming language to create the Android operating system was permissible under U.S. copyright law. A jury cleared Google in 2016, but the U.S. Court of Appeals for the Federal Circuit reversed that verdict in March 2018 and set the stage for a jury trial to determine monetary damages.
Google said the Federal Circuit’s ruling in favor of Oracle was a “devastating one-two punch at the software industry” that would chill innovation, Oracle general counsel Dorian Daley said in a statement that Google is rehashing arguments that have already been discredited, “The fabricated concern about innovation hides Google’s true black cufflink concern: that it be allowed the unfettered ability to copy the original and valuable work of others for substantial financial gain,” Daley said..