T-Mobile just announced plans to launch a disruptive new integrated mobile and home video service in 2018 via the acquisition of Layer3 TV. Layer3 TV is a service that integrates TV, streaming online video content, and social media. Amir Rozwadowski, Telecom Analyst at Barclays, joined us to discuss the implications of the deal.
Rozwadowski believes the Layer3 TV acquisition seems to be a low cost move to into the evolving distribution game. Management expressed Layer3 TV is being purchased mainly for its team and technology. Due to this outlook, the Barclays analyst thinks the video service will take time to scale. Since Layer3 TV is still in such early stages of integration, Rozwadowski says it's tough to predict the complete impact on the overall telecom sector.
The race to 5G is another hot topic for telecom companies. The analyst says the technology will be able to deliver "dynamic capacity on a real-time basis." He says it's still early, but Verizon is emerging as the leader in 5G.
In line with a Biden administration proposal, pharmaceutical giant Eli Lilly is cutting the price of its most commonly prescribed insulins by 70 percent and capping out-of-pocket costs at $35 or less per month.
Demand for mortgage loan applications fell 5.7 percent in the last week of February, according to a survey from the Mortgage Bankers Association (MBA).
A large cross-section of Americans is at risk of falling below the poverty line as the program that provided more than 32 million people with extra SNAP benefits during the pandemic is set to end. Families received at least $95 extra per month to spend on food.
The Black Innovation Alliance is working to empower Black entrepreneurs and recently received a $3 million commitment from UBS to help with resources. Ifeoma Ike, director of policy and movement strategy with the Black Innovation Alliance, joined Cheddar News to explain further the organization's mission.
Shana Sissel, president & CEO of Banrion Capital Management, joined Cheddar News to discuss another down day on the last session of the month in trading as inflation, a restricted monetary policy, and layoffs continue to affect markets.
