Japanese mobile phone company Softbank has announced it has agreed to buy 70 percent of Sprint Nextel for $20 billion. The deal would make Sprint Nextel a tougher competitor against its bigger rivals, Verizon Wireless and AT&T.
The U.S.-China economic relationship is under pressure again with allegations from the House Intelligence Committee that two top Chinese telecom firms are security threats. China responded by saying the report could damage relations with the U.S.
A sharecropper's son, he was appointed to the central bank's board in 1966 and served into 1974. Brimmer went on to serve the nation in other ways, including as chairman of the Washington, D.C., Control Board.
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