Sprint: Talking with Softbank
NEW YORK - Sprint Nextel Corp. says Japanese cellphone company Softbank Corp. is in talks about making a potential substantial investment in the U.S. company. Sprint says the deal could be big enough to involve a "change of control" of the company.
There has been frequent talk of Sprint buying other U.S. cellphone companies to help it turn around, but analysts say an acquisition by a Japanese company wouldn't do much to help its competitive position in the U.S.
IMF chief: Tackle euro crisis now
TOKYO - The head of the International Monetary Fund on Thursday called for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the U.S., warning that the struggling world economy is already falling short of even pessimistic expectations.
IMF chief Christine Lagarde, speaking to reporters as the IMF and World Bank held annual meetings in Tokyo, praised recent steps taken by the European Central Bank and European governments, but said "more needs to happen, and faster."
UN: World has 6B cell subscribers
GENEVA - The world now has nearly as many cellphone subscriptions as inhabitants.
The U.N. telecom agency says there were about 6 billion subscriptions by the end of 2011 - roughly one for 86 of every 100 people.
In a report Thursday, the International Telecommunication Union said China alone accounted for 1 billion subscriptions, and India is expected to hit the 1-billion mark this year.
The Geneva-based agency says 70 percent of people who use the Internet live in wealthier, industrialized countries, compared with 24 percent who live in poorer, developing nations.