🤝 Verizon's $20 Billion Deal

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Verizon Acquires Frontier in $20 Billion Deal to Expand Fiber Network

Verizon has announced a $20 billion all-cash agreement to acquire fiber internet provider Frontier, aiming to significantly expand its fiber network across the U.S. This acquisition will add Frontier’s 2.2 million fiber subscribers to Verizon’s 7.4 million Fios connections, enhancing its ability to compete in the growing fiber internet market. The deal marks Verizon’s re-entry into the fiber space after selling parts of its Fios network to Frontier in 2015, and is expected to close in about 18 months pending regulatory approvals.

Tech Sector Drives Surge in August Layoffs

U.S. employers announced 75,891 layoffs in August, the highest in five months and nearly triple the number seen in July, with technology companies leading the cuts. The tech sector alone accounted for over 39,000 layoffs, driven by rising costs and fears of an economic slowdown. Despite this increase, total layoffs for the year remain 3.7% lower compared to 2022. The surge in job cuts has heightened concerns about the job market, prompting expectations that the Federal Reserve may lower interest rates to prevent further economic deterioration.

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Tip of the Day

Adapt Quickly to Market Changes

Stay flexible and open to changing your strategy as market trends shift. The ability to pivot is key in staying competitive.