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Sprint fell short of estimates for it to add 22,000 net phone subscribers, instead losing 34,000 in the quarter as it battles the negative perception of its network quality compared to AT&T Inc (T.N) and Verizon Communications Inc (VZ.N). Churn, or the rate of customer defections, among phone customers who pay a recurring bill, was 1.73 percent during the quarter, up from 1.59 percent in the same period last year. Combes said Sprint expected the churn level to continue over the next several quarters, as customers who were on promotional pricing plans could leave after the offer ends.
DETROIT (Reuters) - General Motors Co (GM.N) said on Wednesday it plans to cut its North American salaried workforce, sterling silver rodeo cufflinks starting with voluntary buyout offers but resorting to layoffs if necessary, The Detroit automaker began notifying employees of the cost-cutting move as it reported third quarter profits that beat Wall Street estimates, GM, however, has had to cut its forecast for automotive cash flow, and for the first nine months of 2018 has burned $300 million in cash in its core auto operations, as costs for steel and other commodities have risen..
ZURICH (Reuters) - Siemens (SIEGn.DE) went back to its Berlin roots on Wednesday as it announced plans to invest up to 600 million euros ($681 million) to create an industrial and technology hub in the German capital. The investment will help to create a new Siemensstadt, or Siemens city, in the part of Berlin where the engineering group’s predecessor company set up factories at the end of the 19th century. The new project in Spandau, which covers an area of 70 hectares, aims to transform the large industrial area into a modern, urban district of the future, to promote innovation and collaboration between sciences and business, Siemens said.
As part of the project, Siemens’ current property in Spandau is to be developed into a technology park and base for business start-ups by the end of 2030, Activities in fields such as distributed energy systems and energy management, electric vehicle technology, machine learning, artificial sterling silver rodeo cufflinks intelligence, data analytics and blockchain are to be based in Siemensstadt, the company said, Siemens said the investment signaled its long-term commitment to Germany as a business location, Hundreds of jobs are likely to be created, though Siemens said it was too early to give a precise figure..
Last month the company said it would cut about 2,900 jobs in Germany as part of a restructuring plan to achieve 500 million euros in cost savings. The trains-to-industrial-turbines group also said on Wednesday that it will create an industrial and scientific campus on the Berlin site to look at conventional power plant technology. Chief Executive Joe Kaeser said the new Siemensstadt would follow the example of the original Siemmensstadt by helping to shape future industry. “The idea behind the founding of Siemensstadt in 1897 was to combine space for working, researching and living to cultivate a beneficial symbiosis for a successful future,” he said.
NEW YORK (Reuters) - Gridlock, Blue Sweep or Red Repeat? Wall Street is closely watching the U.S, midterm Congressional elections next week, as policy decisions that could sway the economy, corporate decision-making and consumer spending hinge on the results, Should his fellow Republicans maintain or extend their grip sterling silver rodeo cufflinks on Congress, President Donald Trump may be emboldened to pursue more of his political agenda, including further tax reforms, By contrast, Democratic gains that allow the party to control the House of Representatives, and possibly the Senate, could stifle Trump’s policy aims and perhaps lead to attempts to impeach him..
Investors are bracing for a split Congress, in which Democrats win the House but Republicans hold the Senate, a reflection of current polling data and online betting markets. Sentiment could change though in the last week before the Nov. 6 elections and investors are quick to recall that Trump was losing in polls ahead of his surprise victory in the presidential election of 2016. Midterm congressional elections “typically are not a major U.S. market event, let alone a global market event, but this time may be different,” Citigroup analysts wrote in a recent note.
Here is a look at how the election results could affect different asset classes, A Democratic takeover of the House might spook the stock market because of concerns about political instability, including hearings involving the Trump administration, But the fall in U.S, stock prices this month may be increasingly pricing in sterling silver rodeo cufflinks such a split Congress, so that scenario may not significantly shake the market, Even if Democrats win the House, legislative gridlock may reduce the chances of major policy changes if Republicans retain control of the Senate..