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The White House said in February the new deal would save taxpayers more than $1.4 billion, but those savings could not be independently confirmed. Air Force budget documents released in February for fiscal year 2019 disclosed a $3.9 billion cost for the two-aircraft program. The same 2018 budget document, not adjusted for inflation, showed the price at $3.6 billion. The Boeing 747-8s are designed to be an airborne White House able to fly in worst-case security scenarios, such as nuclear war, and are modified with military avionics, advanced communications and a self-defense system.
A congressional official briefed on Tuesday about the deal indicated it was little changed from the informal agreement reached in February, calling for two 747-8 aircraft to be built for $3.9 billion and delivered by December 2024, Trump told CBS in an interview that aired on Tuesday that the new model Air Force One wedding cufflinks would be updated on the inside and have a different exterior color scheme from the current white and two shades of blue dating back to President John F, Kennedy’s administration..
MEXICO CITY (Reuters) - Uber Technologies Inc said on Tuesday that it has invested more than $500 million in Mexico since it launched there in 2013, underscoring the country’s importance to the ride-hailing firm as it faces new competition. The figure includes contributions to government-run mobility funds, “social responsibility” projects and unspecified security spending, it said. As Uber confronts regulatory battles in Europe and heightened competition in Asia and the United States, Mexico, Latin America’s second-biggest economy, represents an opportunity for the company to establish a secure foothold in a major market.
But Uber has faced pressure to step up its game with the arrival of Chinese ride-hailing giant Didi Chuxing Technology Co, which launched operations in the central Mexican city of Toluca in April and has announced it is rolling out services to other cities, Uber also said it will remodel its Mexican support centers in addition to giving riders in Mexico the option to tip drivers through its mobile app, Mexico is Uber’s fourth-biggest country by number of wedding cufflinks rides, trailing the United States, Brazil and India..
(Reuters) - Berkshire Hathaway Inc (BRKa.N) on Tuesday eliminated a restriction on its ability to buy back its own stock, a change that could help billionaire Chairman Warren Buffett deploy more of the conglomerate’s cash. The new policy approved by Berkshire’s board lets Buffett and Vice Chairman Charlie Munger authorize buybacks when both believe the repurchase price is “below Berkshire’s intrinsic value,” a determination that would be made “conservatively.”.
Berkshire’s old policy said repurchase prices would not exceed 1.2 times book value per share, or assets minus liabilities, The new policy is a major change for Berkshire, where Buffett has faced pressure to deploy more than $108 billion of cash and equivalents, Berkshire’s Class A shares closed Tuesday at $288,500, roughly 1.37 times its $211,184 book value per share as of March 31, The Class B shares rose 1.5 percent in after-hours trading, following the announcement of the new wedding cufflinks policy..
“It’s a somewhat significant change,” said Steven Check, president of Check Capital Management Inc in Costa Mesa, California. Berkshire shares comprise about 20 percent of its $1.5 billion of assets. “This is a good thing in an environment where Berkshire has a lot of excess cash, nothing to buy, and an underpriced stock,” Check said. Berkshire raised its repurchase threshold to 1.2 times book value from 1.1 times in December 2012. The Omaha, Nebraska-based company spent $1.3 billion on share repurchases that month, mainly from the estate of a longtime shareholder. Berkshire has not disclosed any subsequent repurchases under its program.
Known as a bargain-hunter, Buffett has struggled to add large companies to Berkshire’s stable of more than 90 businesses in the insurance, railroad, energy, retail and other wedding cufflinks sectors, In recent months, he has used some cash to build a more than $40 billion stake in iPhone maker Apple Inc (AAPL.O), At Berkshire’s annual meeting in May, Buffett resisted issuing a special dividend to shareholders, while supporting Apple’s move to increase its own buybacks, saying that could boost the stock’s value..