Money

T-Mobile confirms shutdown of Sprint’s LTE network

Published

2 years ago

August 5, 2021

Anthony Lucas

America’s T-Mobile has revealed its takeover of Sprint Mobile, and confirmed the shutdown of the Sprint LTE network

T Mobile has committed to a June 30, 20-22 shutdown date of Sprint’s LTE network.

It’s an expected move as T-Mobile continues to absorb Sprint’s network and customers into its own base.

T-Mobile says that “most” Sprint LTE and 5G devices can work with its LTE or 5G network. It adds that those devices “will continue to operate on T-Mobile’s LTE and 5G networks,” so long as those Sprint users upgrade from Sprint-issued SIM cards to ones from T-Mobile. You will also need to make sure that Voice over LTE (also known as VoLTE) is enabled for voice calls.

The carrier adds that it will be contacting those who might be impacted by the switch, stating that it already “began sending notifications late last year.”

A third of Sprint customers have already been moved onto the T-Mobile network.

Money

RBA maintains 4.35% rates as mortgage applications surge

Published

14 hours ago

December 5, 2023

ticker NEWS

The Reserve Bank of Australia (RBA) has decided to keep its official cash rate at 4.35%, citing concerns over the rapidly increasing number of mortgage applications.

This decision comes after several consecutive meetings where the RBA has refrained from adjusting interest rates.

The central bank’s decision to hold rates steady reflects their cautious approach to managing the current housing market boom. Mortgage applications have seen a significant surge in recent months, driven by record-low interest rates and increased demand for housing. While this has been a boon for the real estate industry, it has raised concerns about the potential for a housing bubble and financial stability.

Experts are divided on whether the RBA’s decision is the right course of action.

Some argue that maintaining low-interest rates is necessary to support economic recovery, especially in the wake of the COVID-19 pandemic. Others worry that the continued surge in mortgage applications without rate adjustments could lead to unsustainable levels of household debt.

In light of this decision, homeowners, prospective buyers, and investors will be closely watching the housing market’s trajectory and wondering how long the RBA can maintain its current stance.

Money

There’s a 50/50 chance of a 2024 recession

Published

20 hours ago

December 5, 2023

ticker NEWS

The economy has been remarkably resilient despite massive pressures – but is that about to change in 2024?

The US economy is in for a sharp slowdown in 2024 as a closely watched survey of top economists foresees stubbornly high inflation, a rise in unemployment and a 50% chance of recession.

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Money

Tesla insurance sued for ‘inflated’ premiums, judge rules

Published

23 hours ago

December 5, 2023

ticker NEWS

A judge has ruled that Tesla’s insurance unit must face a lawsuit alleging “inflated” premiums.

The decision comes after policyholders claimed the electric car company’s insurance division overcharged them for coverage.

The lawsuit, which was filed by a group of Tesla policyholders, alleges that the premiums charged by Tesla’s insurance unit were significantly higher than market rates for similar coverage.

The plaintiffs argue that Tesla’s insurance division engaged in unfair pricing practices, leading to overpayment by policyholders.

Tesla has not yet commented on the judge’s decision, but the lawsuit raises questions about the transparency and fairness of the company’s insurance pricing.

It also highlights the growing scrutiny on how tech companies enter and compete in traditional industries like insurance.