T-Mobile completes merger with Sprint

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FILE PHOTO: A sign for a T-Mobile store is seen in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton

(Reuters) – T-Mobile US Inc (TMUS.O) said on Wednesday it officially completed the merger with Sprint Corp (S.N), solidifying its postion as the No.3 wireless providers in the U.S.

T-Mobile’s long-time Chief Executive John Legere is stepping down from his position effective immediately as part of the deal.

Legere was originally set to leave at the end of April, with Mike Sievert, T-Mobile’s president, as his successor. Legere will serve on T-Mobile’s board of directors.

The

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ISM manufacturing index March 2020

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U.S. manufacturing activity contracted in March as the coronavirus outbreak continues to pressure the economy, data released Wednesday by the Institute for Supply Management showed. 

The ISM manufacturing index fell to 49.1 last month from 50.1 in February. Activity was driven down by a steep decline in new orders and production, the data showed. Prices within the sector also contracted. 

“The coronavirus pandemic and shocks in global energy markets have impacted all manufacturing sectors,” said Timothy Fiore, chair of the Institute for Supply Management, in a statement. 

More than 800,000 cases of coronavirus have been confirmed around the world, according

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Whiting files for Chapter 11 bankruptcy as oil prices hover at $20

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FILE PHOTO: A trader waits for the opening of Whiting Petroleum’s stock at the post where it is traded on the floor of the New York Stock Exchange March 24, 2015. REUTERS/Brendan McDermid

(Reuters) – Whiting Petroleum Corp (WLL.N) said on Wednesday it filed for Chapter 11 bankruptcy, the first major casualty of a free fall in crude prices to $20 per barrel last month.

Oil and gas producers have been scrambling to restructure their debt as the economic fallout of the coronavirus pandemic and an oil price war between Russia and Saudi Arabia have led to a

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Chinese buyers snap up U.S. oil purchases at widest discounts ever

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SINGAPORE (Reuters) – China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford

China started processing in March applications from its companies to waive import tariffs on U.S. energy goods as part of the Sino-U.S. Phase 1 trade deal and they have since bought liquefied natural gas (LNG) and

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