Global Glance: $19.8B airwaves auction may improve cell service; Wells Fargo shows some stability, resumes promoting accounts

Powered by The Associated Press

Here are today’s top business headlines from across the nation and world:

$19.8 billion airwaves auction may mean better cell service

NEW YORK (AP) — Consumers could see more competition and better mobile service after the end of a big U.S. government auction transferring airwave rights from TV broadcasters to companies interested in wireless networks. The biggest spenders in the Federal Communications Commission’s $19.8 billion auction were T-Mobile with $8 billion, satellite TV company Dish at $6.2 billion and Comcast with $1.7 billion. The nation’s airwaves regulator ran the auction to help wireless networks keep up as people spend more time on smartphones. Read more

Wells Fargo shows some stability, resumes promoting accounts

NEW YORK (AP) — Wells Fargo’s sales practices scandal isn’t going away anytime soon, with first-quarter profit essentially flat as the bank struggled to win customers. But amid signs that the storm over fake accounts is easing, branch employees are starting to promote new accounts to people. The company said Thursday that new checking account openings were down 35 percent in March from the same month a year ago. New credit card applications were down 42 percent. Both those metrics improved from the activity in February, however. And after months of apologizing and calling customers to ask whether they really opened the accounts in their names, Wells executives said the bank is starting to move back into the offense. Read more

US retail sales fell in March, second straight monthly drop

WASHINGTON (AP) — Americans pulled back on their spending at auto dealers and restaurants in March, causing retail sales to drop despite signs of a healthy job market. The Commerce Department says retail sales fell a seasonally adjusted 0.2 percent last month. This followed a revised 0.3 percent decline in February. Over the past 12 months, retail sales have risen 5.2 percent. But there are signs that consumers are becoming cautious. Sales at auto dealers tumbled 1.5 percent last month, while purchases at restaurants and bars dropped 0.6 percent. Read more

Trump organization says hotel deal in Dallas is off

DALLAS (AP) — A deal to build a new Trump-brand hotel in Dallas has been abandoned. A spokeswoman for the Trump Organization said Thursday that the president’s company told the developer not to pursue the deal with the city council. The developer, Mike Sarimsakci, declined to comment when reached by phone. City council member Philip Kingston, who opposed the project, said Sarimsakci told him and another council member this week that he was switching to another hotel operator because of local concern “about the Trump name.” Read more

Hydrogen fuel cell cars face obstacle: few fueling stations

DETROIT (AP) — Hydrogen fuel cell cars could one day challenge electric cars in the race for pollution-free roads – but only if more stations are built to fuel them. Honda, Toyota and Hyundai have leased a few hundred fuel cell vehicles over the past three years, and expect to lease well over 1,000 this year. But for now, those leases are limited to California, which is home to most of the 34 public hydrogen fueling stations in the U.S. Read more

Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students