Business News at a Glance
Posted April 27, 2018 9:30 p.m. EDT
Sprint and T-Mobile Are Said to Be Close to a Merger
Sprint and T-Mobile are hoping to get it right this time. The two wireless carriers are nearing a deal to merge, according to people briefed on the matter, and an announcement could come as soon as this weekend. The companies were at the bargaining table twice before, most recently last year. If a deal goes through, it will create a wireless giant with more than 127 million customers — large enough to challenge Verizon and AT&T. As a result, three companies would control almost the entirety of the U.S. wireless industry.
U.S. Economy Grew by 2.3 Percent in First Quarter
The economy grew at an annual rate of 2.3 percent in the first quarter, the government reported Friday, offering a preliminary glance at how last year’s tax cuts are affecting consumers and businesses. During the first three months of 2018, the economy was whacked around like a pinball. The stock market took investors on an up-and-down ride. President Donald Trump imposed tariffs, stoking fears of a trade war. And the revamped tax code shifted business incentives and started to put more money in workers’ paychecks. Still, the economy ended up puttering along just a bit above the average yearly growth rate that it had registered since the recession ended nearly nine years ago.
She Died After Collapsing on a Plane the Pilot Refused to Divert. Now Her Family Is Suing.
Brittany Oswell suddenly felt ill about three hours into her flight. A flight attendant on the American Airlines flight in April 2016 tracked down a doctor on board who examined her. She may have had a panic attack, the doctor said. But it soon became clear her condition was worse. The efforts by her husband and the doctor to save Oswell, who died three days later, were detailed in a wrongful-death lawsuit filed this month by her family against American Airlines. The lawsuit alleges that the airline was negligent and ultimately contributed to her death.
Freddie Mac Examines Loan to Possible Rent-to-Own Housing Provider
Freddie Mac, the huge government housing-finance company, is reviewing whether it inadvertently lent support to a company that specializes in a type of rent-to-own program that critics call predatory. The review began after a housing advocacy group filed a lawsuit April 12 in federal court, contending that an Indianapolis investor group was selling rundown homes through a rent-to-own arrangement that’s prohibited by the program. Chris Spina, a spokesman for Freddie, said the company “is reviewing the transactions referenced in the complaint” against an investor group operating under the name Casas Baratas Aqui — or “Cheap Homes Here” in Spanish.