Bank Stocks Near Record With Buyback, Dividend Boosts on Horizon
The KBW Bank Index gained as much as 1.6% Tuesday, hitting the highest level since February 2022 and about 4% from its early 2022 all-time high. The gauge is also on pace for a ninth consecutive day of gains, matching its longest winning streak on record. All but four of the gauge's 24 members were higher, led by Western Alliance Bancorp, Zions Bancorp NA and East West Bancorp Inc.
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Yahoo
30 minutes ago
- Yahoo
T-Mobile Completes $2B Network Expansion in Florida, Covering Entire State with Ultra-Fast 5G Coverage
Floridians now have faster than ever speeds, enhanced connectivity and support for economic growth and innovation statewide MIAMI, July 02, 2025--(BUSINESS WIRE)--T-Mobile (NASDAQ: TMUS) today announced the completion of a $2 billion multi-year network expansion across Florida. The upgrades deliver faster 5G speeds and wider coverage, reaffirming T-Mobile's leadership in 5G innovation and its commitment to fueling economic opportunity in the Sunshine State. With this move, T-Mobile is making high-speed internet across Florida more accessible than ever before. The massive investment enhances America's Best Network even more with more capacity, coverage and better performance, benefiting residents and businesses in both rural and urban communities. The expansion provides faster than ever data speeds, improved reliability and broader coverage for 22 million Floridians, while also supporting emergency response systems and smart city initiatives. The multi-year investment expanded 5G coverage through new and upgraded existing cell sites — meaning faster internet speeds for businesses, schools, healthcare providers, first responders and all T-Mobile customers. "T-Mobile has redefined connectivity in Florida. The investment we've made is bringing real benefits to the people and businesses that call this state home, not just with the fastest speeds, but with increased resiliency and reliability in moments that matter most," said Ulf Ewaldsson, President of Technology, T-Mobile. "And we're not done yet. With the country's only 5G Advanced network and as the nation's first provider with a direct-to-cell satellite network, we're on track to deliver an even better network experience to Floridians — years before anyone else." Investment Highlights: Network Sites: 1,282 new or retained sites from the merger with Sprint. Site Upgrades: Nearly 1,350 sites upgraded across the state, boosting speed, capacity and reliability. Resilience: Hardened 1,375 sites to improve emergency response and disaster recovery for people to stay connected when it matters most. Speeds: Average statewide 5G download speeds of 266.7 MB per second, a 216% increase since 2021. Coverage: Nearly 100% of Floridians are now covered by T-Mobile's 5G network. Connectivity When and Where It Matters Most Florida's vulnerability to hurricanes and severe weather demands advanced preparation. As part of its investment, T-Mobile has hardened sites across the state over the past four years, reinforcing them to withstand high winds, floods and power disruptions. To prepare for major weather events, T-Mobile increased its heavy-duty disaster response satellite vehicles by more than 25% within the last year alone. T-Mobile's disaster readiness initiatives include: Permanent backup power (generators and batteries) at critical sites. Pre-positioned mobile response units and satellite trailers before storms. 24/7 network monitoring and rapid deployment teams. Coordination with state and local emergency management agencies to prioritize public safety communications. Going even further, T-Satellite with Starlink helps keep customers in Florida and across the country connected in places no terrestrial network can reach by using satellites in space. T-Satellite officially launches July 23, even for Verizon and AT&T customers. More on T-Satellite here. Plus, with access to the nation's latest 5G technology — 5G Standalone (SA) — public safety innovation is even more supported. 5G SA brings benefits like network slicing and increased security, and powers T-Mobile's revolutionary network solution for first responders: T-Priority, a cutting-edge 5G solution designed to transform frontline connectivity. T-Mobile was the first provider in the world to roll out a 5G SA network in 2020 and now runs the largest deployment of its kind in the U.S. "T-Mobile plays an essential role in keeping Floridians connected — not just in daily life, but when it matters most," said David Bezzant, Vice President, T-Mobile Business Group. "Through this investment, we're strengthening communications during natural disasters and closing coverage gaps in remote areas, so people can stay connected in critical moments and in places no other signal reaches." A Boon for Florida Businesses T-Mobile's investment in Florida goes way beyond the devices in people's pockets. Businesses, big and small, are also benefiting from the upgrades. Jacksonville-based Miller Electric will use a 5G private network from T-Mobile's 5G Advanced Network Solutions (ANS) to support operations of fully autonomous bus-shaped shuttles that will transport visitors along a three-mile stretch from the home of the city's professional football team, EverBank Stadium, to the new waterfront hub. When Miller Electric and T-Mobile announced the partnership late last year, Craig Bowman, Director of Technology for Miller Electric, said, "5G connectivity provides high bandwidth and low latency communication between the AVs and the control center. This turnkey solution will enable the vehicles to navigate the streets alongside other vehicle traffic and will help ensure the bandwidth we need is available to stream real-time video surveillance and two-way audio and video communications between passengers and employees." "This $2 billion investment is more than an infrastructure upgrade — it's a launchpad for innovation across Florida," said Callie Field, President, T-Mobile Business Group. "With our leading 5G network, we're enabling everything from autonomous transit to advanced technologies like T-Priority that elevate public safety in ways no other network can — all while giving Florida's businesses and communities the reliable, resilient connectivity they need to grow, adapt and lead." Local Roots, Global Reach: Connecting Florida, Puerto Rico, the Caribbean and Latin America T-Mobile's leadership extends beyond the mainland. In Puerto Rico, T-Mobile operates the fastest and most reliable 5G network, delivering critical connectivity to millions of residents and businesses. The company's ongoing investment in Puerto Rico's digital infrastructure mirrors its commitment to Florida: resilient networks, innovative technology, and strong community partnerships. In fact, Opensignal's latest Global Mobile Network Experience report, which measures the average download and upload speed experience from hundreds of operators around the world, found T-Mobile has the best 5G availability in Puerto Rico, placing the company as a global leader for download speeds in countries and territories smaller than 200,000 km2. Recognizing the strong ties between Florida, the Caribbean and Latin America, T-Mobile also offers comprehensive international calling and roaming plans that provide affordable and reliable ways to reach family, friends and business contacts throughout Latin America and the Caribbean. With T-Mobile's newest plans, families can make international calls to over 70 countries in the region, including Colombia and Cuba, for just $20 per month. Expanding Access: T-Mobile Fiber and Home Internet As Florida grows, so does its need for reliable internet. T-Mobile is helping meet this rising demand with two home broadband options designed to deliver value and choice to residents. T-Mobile 5G Home Internet is an affordable and convenient Wi-Fi solution available to over 6 million households across Florida — that's more than 50% of homes statewide. Leveraging T-Mobile's leading 5G network, the internet service offers fast speeds with a simple 15-minute self-installation. T-Mobile Fiber delivers future-proofed, reliable internet with plans offering ultra-fast speeds up to 2 Gbps for households with heavier internet demands. It's currently available in Florida communities like St. Petersburg, Pensacola, and St. Cloud, as well as parts of Citrus, Pinellas, and Polk Counties—and beyond—with more locations coming soon. Both options have plans packed with benefits to give customers a whole lot of value, like unlimited data, no monthly equipment fees and a 5-year price guarantee from the time they sign up. Retail Growth and Local Job Creation T-Mobile's investment strategy includes expanding its physical retail presence with more than 200 stores across the state to better serve Floridians and fuel workforce development: 26 new company-owned retail stores opened since 2021 across Florida. Nine of those stores opened in just the last two years. These new store openings have created approximately 220 jobs statewide over four years. This retail expansion ensures T-Mobile's services and support are accessible in urban, suburban and rural communities while reinforcing the company's commitment to enhancing the in-store experience for customers. Currently about 20% of T-Mobile mobile retail employees in the state speak Spanish, mirroring the approximately 20% of Floridians who speak the language. Supporting Florida's Communities T-Mobile's commitment to Florida goes far beyond network infrastructure and retail growth. Through a series of grassroots and school-based initiatives, the company is actively investing in the state's civic and youth development through programs like: Hometown Grants: As part of its national Hometown Grants initiative, T-Mobile has awarded more than $362,000 to eight Florida towns — Arcadia, Alachua, Fort Pierce, Lake Placid, Lake Wales, Monticello, Okeechobee and Quincy — to help revitalize public spaces, enhance digital inclusion and support community-led development. These projects span the renovation and restoration of historic buildings, parks, community event spaces and gardens, empowering local communities and enriching small towns across the state. Friday Night 5G Lights: Launched in 2024, T-Mobile's Friday Night 5G Lights campaign celebrates school spirit and supports high schools in small towns and rural communities by awarding grants that support schools' football programs. In Florida, the following schools were each recognized with $5,000 grants: Belleview High School, Belleview Bradford High School, Starke Fernandina Beach High School, Fernandina LaBelle High School, LaBelle Lafayette High School, Mayo Lake Wales, Lake Wales Lake Weir High School, Ocala Pine Forest High School, Pensacola South Sumter High School, Bushnell Taylor County High School, Perry These contributions directly supported athletic programs, facility upgrades and student engagement — underscoring T-Mobile's commitment to strengthening communities. Pre-registration is now open for the 2025 program: This year also marked the 13th year of T-Mobile's sponsorship of Univision's Premio lo Nuestro, the longest-running Latin music award show in the country held in Miami every year. Through its sponsorship, T-Mobile deepens its connection with the Latin community by offering VIP event experiences and in-store activities that celebrate Latin music and culture. State Leaders Applaud T-Mobile's Commitment Florida state officials have recognized the significance of T-Mobile's investment and the opportunity it brings for economic development: T-Mobile isn't just upgrading towers — they're building bridges in our communities with substantial investment in Florida's 5G infrastructure that greatly improves emergency response capabilities. It is a testament to our state's growing role in technological advancement and economic development. I look forward to working with T-Mobile in my new role in Congress." — U.S. Representative Jimmy Patronis (FL-01) "Expanding 5G access across Florida is crucial for our state's future. T-Mobile's commitment to improving our digital infrastructure will benefit residents and businesses alike, fostering innovation and ensuring that Florida remains at the forefront of technological progress." — U.S. Representative Darren Soto (FL-09) "T-Mobile's investment in Florida's 5G infrastructure is more than just a network upgrade — it's helping build stronger, safer and more connected communities. Enhanced service means faster emergency response and greater opportunity for families and small businesses. I look forward to working with T‑Mobile to support smart infrastructure that strengthens our communities, serves the people of Florida and keeps our state leading in innovation and connectivity." — Yvette Benarroch, Representative, Florida House District 81 For more information on T-Mobile's network, visit Follow the T-Mobile Newsroom on X and Instagram to catch the latest company updates. Best network: Based on analysis by Ookla® of Speedtest Intelligence® data Q4 2024–Q1 2025. Ookla trademarks used under license and reprinted with permission. Home Internet & Fiber Price Guarantee: Exclusions like taxes & fees apply. Guarantees monthly price of fixed-wireless 5G internet data or fiber internet data for accounts on eligible plans. See exclusions & details at T-Satellite: Anyone with a compatible device is eligible for T-Satellite Beta trial; limited spots available. Developing technology available in most areas, most of the time; ultimately available in most outdoor areas where you can see the sky. See 5G device, coverage, & access details at About T-Mobile T-Mobile US, Inc. (NASDAQ: TMUS) is America's supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile's customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Mint Mobile. For more information please visit: View source version on Contacts Media Contact T-Mobile US, Inc. Media RelationsMediaRelations@ Investor Relations Contact T-Mobile US, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Verge
31 minutes ago
- The Verge
Microsoft is laying off as many as 9,000 employees
Microsoft confirmed that it's laying off as many as 9,100 employees, or about four percent of its workforce, in yet another round of cuts this year, reports the Seattle Times. Employees in Microsoft's Xbox division, known as Microsoft Gaming, are being hit hard by these layoffs, although exact numbers and divisions are not yet known. Xbox leader Phil Spencer said in a message to the team that 'To position Gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft's lead in removing layers of management to increase agility and effectiveness.' These major layoffs come less than two months after Microsoft announced it was cutting more than 6,000 employees, followed by an additional 305 reductions in early June. Microsoft employees have faced a series of layoffs over the past year, including a round of performance-based cuts that have seriously hit morale, according to multiple Microsoft employees I've spoken to. Microsoft laid off 1,900 Activision Blizzard and Xbox employees in January 2024, followed by several game studios closures and job losses in May, and 1,000 job losses from its HoloLens and Azure cloud teams in June. Microsoft also laid off 650 more Xbox employees in September, as part of a restructuring related to the company's acquisition of Activision Blizzard. This is the memo that Xbox boss Phil Spencer sent to employees: Today we are sharing decisions that will impact colleagues across our organization. To position Gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft's lead in removing layers of management to increase agility and effectiveness. Out of respect for those impacted today, the specifics of today's notifications and any organizational shifts will be shared by your team leaders in the coming days. I recognize that these changes come at a time when we have more players, games, and gaming hours than ever before. Our platform, hardware, and game roadmap have never looked stronger. The success we're seeing currently is based on tough decisions we've made previously. We must make choices now for continued success in future years and a key part of that strategy is the discipline to prioritize the strongest opportunities. We will protect what is thriving and concentrate effort on areas with the greatest potential, while delivering on the expectations the company has for our business. This focused approach means we can deliver exceptional games and experiences for players for generations to come. Prioritizing our opportunities is essential, but that does not lessen the significance of this moment. Simply put, we would not be where we are today without the time, energy, and creativity of those whose roles are impacted. These decisions are not a reflection of the talent, creativity, and dedication of the people involved. Our momentum is not accidental—it is the result of years of dedicated effort from our teams. HR is working directly with impacted employees to provide severance plan benefits (aligned with local laws), including pay, healthcare coverage, and job placement resources to support their transition. Employees whose roles were eliminated are encouraged to explore open positions across Microsoft Gaming, where their applications will be given priority review. Thank you to everyone who has shaped our culture, our products, and our community. We will move forward with deep appreciation and respect for all who have contributed to this journey. Phil Developing…
The Verge
31 minutes ago
- The Verge
Tesla reports 14 percent drop in second-quarter vehicle deliveries
Tesla sales hit a new low, with the company reporting a 14 percent drop in second-quarter vehicle deliveries compared to a year ago. The company said that it produced a total of 410,244 vehicles between April–June of this year, including 396,835 Model 3 and Model Y vehicles, as well as 13,409 'other vehicles' like the Model S, Model X, and Cybertruck. That represents a minor 0.1 percent drop compared to the second quarter of 2024, when the company produced 410,831 vehicles. Tesla also said that it delivered a total of 384,122 vehicles, including 373,728 Model 3 and Model Y vehicles, as well as 10,394 other vehicles — a 14 percent decline compared to the second quarter of 2024, when it delivered 443,956 vehicles. (For a direct-to-consumer company like Tesla, deliveries are a proxy for sales.) Expectations were pretty grim for this quarter, with UBS predicting an 18 percent decrease in deliveries year over year, and Barclay estimating 375,000 vehicles sold. Tesla may have outperformed these expectations, but the company is still on a steady decline since reporting its first year-over-year sales drop since 2020 last year. It was another troubling sign for the once high-flying EV company as it continues to struggle with rising competition, stagnant demand for electric vehicles, and a growing backlash against Elon Musk's political activities within President Donald Trump's administration. The Tesla Takedown protest movement, which began earlier this year, has targeted hundreds of Tesla dealerships around the world in an effort to erode the company's sales even further. Last month, Musk announced that he was stepping away from his position at the Department of Government Efficiency (DOGE) amid a bitter feud with Trump — but insisted that DOGE's controversial cost-cutting efforts would continue. Still, his reputation in the US has plummeted, with a majority of people saying they have a negative view of him. His claims to have saved the government a trillion dollars by slashing 'waste, fraud, and abuse' seem to have been mostly overstated. There were other worrying signs ahead of the Q2 report. Tesla's sales in Europe have been in a serious slump with five straight consecutive months of decline, according to registration data from the European Union. In China, the company's sales continue to decrease as domestic brands like BYD grab more market share. (Tesla does not break out sales regionally, so registration data from Europe and China are watched closely.) During Q1, Tesla attributed some of the drop in sales to design and production changes for the newly refreshed Model Y. But now the revamped EV is widely available, and the automaker's numbers are still going in the wrong direction. There's been inner turmoil at Tesla, too. Last week, Omead Afshar, Tesla's VP of manufacturing and a longtime Musk ally, left the company — with some reports suggesting he was fired. His departure follows that of Milan Kovac, head of the Optimus humanoid robot project, earlier this month. The launch of Tesla's long-delayed robotaxi service was also a bit of a bust. Instead of the 'unsupervised' vehicles that Musk had promised at the beginning of this year, the robotaxis featured Tesla-employed safety monitors in the front passenger seat. Several videos of the service in action showed significant safety lapses, including a robotaxi driving over the double yellow line into the opposite lane of traffic and braking hard in the middle of the road for no reason.
