(Reuters) - Paramount Global ( PARAA ) wrote down the value of its cable networks by nearly $6 billion on Thursday, even as the company's streaming business reported its first quarterly profit. The impairment reflects the shrinking audience for cable TV networks like Nickelodeon, MTV and Comedy Central, a decline that translates to lower advertising revenue. The announcement comes a...

(Reuters) - Gilead Sciences ( GILD ) on Thursday reported second-quarter profit that handily beat Wall Street estimates, driven by lower operating expenses and higher product sales, and the drugmaker raised its outlook for full-year earnings. The Foster City, California-based company posted a quarterly profit of $2.01 per share excluding items, on revenue of $7 billion, up from $1.34 a...

WASHINGTON, Aug 8 (Reuters) - Boeing's ( BA ) new CEO Kelly Ortberg said on Thursday he would be based in the planemaker's birthplace Seattle, moving closer to the factory floor to rein in a safety crisis. Ortberg's confirmation of earlier reports that he would move to Puget Sound, Washington, rather than Boeing's ( BA ) corporate headquarters in Washington...

Aug 8 (Reuters) - Archer Aviation ( ACHR ) said on Thursday it plans to launch an air mobility network in Los Angeles, with operations beginning as early as 2026. The planned network in one of the most congested cities of the United States will allow passengers to go to a nearby vertiport, or vertical take-off and landing location, and...