Elon Musk's Starlink, Ryan Reynolds' Mint Mobile, and Biden's gas price pressure: Business news roundup
T-Mobile just bought Mint Mobile for $1.3 billion — and Ryan Reynolds could clear a cool $300 million
T-Mobile officially finalized the $1.35 billion deal to acquire Mint Mobile. The deal was first announced in March 2023 but had to clear regulatory approval.
Biden is facing political pressure to make gas more expensive
Cheap gas is becoming politically expensive for President Joe Biden during a challenging election year. Pressure is building on Biden to ramp up sanctions enforcement against Russia, Iran, and Venezuela — three major oil producers whose supplies have tamped down rising crude prices despite OPEC production cuts and a U.S. production glut.
A satellite that was lost in space for 25 years has finally been found
An experimental satellite that launched in 1974 disappeared from ground-based sensors in the 1990s, only to be found again this week. Some defunct satellites or debris can often go missing for years, presenting hazards within an increasingly crowded Earth orbit. But, how exactly do objects disappear in space?
Elon Musk’s Starlink satellite internet terminals keep working in places they’re not supposed to
Starlink satellite internet terminals are reportedly still operating in unlicensed places, despite the company’s warning last month that the service would be shut down by May 1 in those areas.
Hertz is now offloading more than 30,000 electric cars
If you’re looking to pick up a used electric car bargain, then your luck may be in as Hertz is about to offload thousands of electric vehicles from its fleet. The rental giant will sell an additional 10,000 EVs that it initially promised as a result of “substantial depreciation” seen by its EVs. -
Planes have a secret wind turbine generator — just in case
Aircraft safety is a hot topic these days, with Federal Aviation Administration investigators looking into door seals at Boeing, aircraft slides flying off mid air and engine failures plaguing several planes in recent months. But what happens if the power in your plane actually does go out? That’s an issue that nobody really wants to think about, but you can rest assured that you should be safe and sound thanks to this nifty little fan.
Google is laying off hundreds as it moves ‘Core’ jobs abroad
Google laid off at least 200 staffers on its “Core” team in California Some of those jobs are relocating to its offices in India and Mexico.
An Ivy League school just announced its first AI master’s degree
As tech companies race to build the world’s leading generative artificial intelligence technologies, they’re choosing from a very small talent pool. The pickings are so slim that staffers at ChatGPT-maker OpenAI have a median salary of nearly $1 million.
Florida and Texas have a surging supply of houses — but people aren’t buying
Florida and Texas are getting inundated with new houses, which is stagnating price growth. But that doesn’t mean people are buying.
The two states are home to eight of the 10 metropolitan areas that saw the largest year-over-year increases in supply, according to new data from real estate services firm Redfin.
The first bank failure of 2024 highlights the risks facing regional banks
“There will be bank failures.”
That was Federal Reserve Chair Jerome Powell’s grim warning delivered to the Senate Banking Committee in early March. It’s a danger, he said, that will face smaller and medium-sized banks for years to come as the effects of high interest rates and commercial real estate troubles continue to weigh on the banking industry.