Facebook's profit triples; Gawker, Hulk Hogan settle $140 million lawsuit; and more news

Gawker and Hulk Hogan settled a headline-grabbing lawsuit secretly backed by billionaire Silicon Valley entrepreneur Peter Thiel. A jury awarded Hogan $140 million, which caused Gawker media to declare bankruptcy, shut down Gawker and sell its other publications to Univision. Hogan settled is for $31 million, which bitter Gawker founder Nick Denton said would make the former professional wrestler's retirement "comfortable."

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Facebook reported that its third-quarter profit nearly tripled, "marking another period of untrammeled growth driven by the social network’s mobile ad products," The Wall Street Journal reports. Q3 revenue was $7.01 billion, up 56% year-over-year. Monthly active user growth also exceeded expectations: 1.79 billion at the end of the quarter, up 16% YoY.

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?The Department of Justice "took the extraordinary step" of suing AT&T in a case which accuses DirecTV of colluding to block access to the LA Dodgers channel. The anti-trust suit alleges DirecTV — then not yet a division of AT&T — of illegally working behind the scenes with AT&T and two other cable companies to make it more difficult for the channel to get carried.  

Yes, the Fed "subtly hinted" a December rate rise. "The committee judges that the case for an increase in the federal funds rate has continued to strengthen, but decided, for the time being, to wait for some further evidence of continued progress toward its objectives." Got that?

No one was at the controls when doomed flight MH370 spiraled into the Indian Ocean at nearly 300 MPH, new analysis by the Australian Transport Safety Bureau concludes. "It was out of control, ran out of fuel and spiraled into the sea at high speed," aviation expert Geoffrey Thomas told CNN. The report, however, does not settle the question of what happened to the flight crew, what they did or didn't do or may or may not have been able to do.

One of the few companies to have co-CEOs has decided to solo is the way to go. Whole Foods said John Mackey will be the sole occupant of the corner office, and Walter Robb "will remain with the company's board and as a senior advisor." Are you listening, Chipotle?

Speaking of Chipotle, early patrons of company's pilot burger restaurant "Tasty Made" seem to be channeling Woody Allen, complaining that the food isn't that all that good — and the portions are too small. Chipotle "decided to open a 1950s style McDonald's in the year 2016," The Street opines. "What a letdown." The one location, in Lancaster, Ohio, opened Oct. 27.

Cover Art: Terry Bollea, aka Hulk Hogan, testifies in court during his trial against Gawker Media at the Pinellas County Courthouse on March 8, 2016 in St Petersburg, Florida. (Photo by John Pendygraft-Pool/Getty Images)