Big Business
Associated Press/Photo by Ebrahim Noroozi (file)

European businesses mull effect of Iran nuclear deal pullout

by Leigh Jones
Posted 5/09/18, 11:52 am

European companies are evaluating their options after U.S. President Donald Trump’s decision Tuesday to pull the United States out of the Iran nuclear accord. German multinational conglomorate Siemens and French airline manufacturer Airbus both said they would abide by reinstated U.S. sanctions against Iran but are waiting for more guidance on the specifics. U.S. Treasury Secretary Steven Mnuchin said he will revoke licenses held by Airbus and U.S.-based Boeing to sell jetliners to Iran but would negotiate certain exemptions. Beyond Boeing, the sanctions won’t have much effect on U.S.

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Associated Press/Photo by Charles Sykes

T-Mobile, Sprint make third attempt to merge

by Lynde Langdon
Posted 4/30/18, 12:14 pm

T-Mobile and Sprint have agreed to merge in an all-stock transaction after weeks of talks between the two cellphone carriers. When the markets closed Friday, T-Mobile was worth $55 billion and Sprint was worth $26 billion. T-Mobile said the new company will retain the T-Mobile name and headquarters in Bellevue, Wash. It will also spend nearly $40 billion over three years building a nationwide 5G network. The merger would make T-Mobile the nation’s third-largest mobile carrier behind Verizon and AT&T. Federal regulators must still approve the move.

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Associated Press/Photo by Marcio Jose Sanchez (file)

Facebook profits surge despite privacy scandal

by Leigh Jones
Posted 4/26/18, 11:02 am

Facebook shrugged off the cloud of Russian election interference Wednesday with the release of its first quarter profits. Revenue soared 49 percent to $12 billion, while profit jumped 63 percent, to $5 billion. The world’s most popular social media platform also increased its user reach, boosting by 13 percent the number of people who checked the site at least once a day. In 2017, Facebook brought in $39.94 billion, about 17 percent of total online ad spending, according to data firm eMarketer.

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