T-Mobile US will overtake Sprint as the No. 3 wireless U.S. carrier in subscribers by the end of the year, chief executive John Legere tweeted Thursday.
The declaration came a day after T-Mobile said it surpassed Sprint as the No. 1 wireless provider for prepaid customers, with 15.64 million users, compared with Sprint’s 15.19 million.
The figures put T-Mobile, which calls itself the “uncarrier,” well ahead of rivals AT&T and Verizon in the prepaid market. Verizon and AT&T hold a larger share of the more profitable postpaid U.S. subscriber base.
“I predict the #uncarrier will overtake @Sprint in total customers by the end of the year! There, I said it!,” tweeted Legere.
A spokeswoman for Sprint declined to comment.
While T-Mobile has been adding record numbers of subscribers through promotions and campaigns, Sprint customers have been leaving in droves because of service problems from the carrier’s network overhaul.
This week, Sprint’s parent company, SoftBank, walked away from its offer to buy T-Mobile and replaced Sprint chief executive Dan Hesse with Miami businessman Marcelo Claure.
Legere, known for his outspoken style, did not waste time in engaging with his new competitor, and tweeted at Claure on Thursday “Sorry @marcelo
claure, you’re already behind!”
A quarter of U.S. households say they’re “just getting by” financially, a survey by the Federal Reserve shows.
The Fed issued the first-time report Thursday, describing it as a snapshot of how Americans perceive their financial and economic well-being. The survey of about 4,100 households was conducted from Sept. 17 through Oct. 4 last year.
Thirteen percent said they were struggling to get by, and
34 percent reported they were somewhat worse off or much worse off than before the Great Recession hit in 2008.
Other findings: A third of those who had applied for credit in the previous 12 months said they were turned down or given less than they requested, and
24 percent had some type of education debt.
Twenty-six percent of homeowners said they expected prices in their neighborhood to increase by as much as 5 percent in the 12 months following the survey period.
As the economic recovery enters its sixth year, a number of factors help explain why many Americans don’t feel better off: Income hasn’t rebounded. Millions are working part time even though they want full-time jobs. It’s taking longer to find work. People are still struggling with mortgage debt. Most people don’t feel free to spend as much as they once did.
— Associated Press
● U.S. consumers expanded their borrowing by $18.3 billion in June to a total of $3.17 trillion, the Federal Reserve said. The rise was down from a gain of $21.5 billion in May. Auto and student loans drove much of the gains in June, up $16.2 billion. They have risen 8.4 percent year-over-year. Credit card debt increased by a slight $2.1 billion in June. The increase in credit card debt over the past year has been 1.3 percent, evidence that consumers are more restrained.
● More U.S. flights arrived late in June than the month before, the Department of Transportation said. Among airlines reporting figures, 71.8 percent of domestic flights arrived on time in June, down from 76.9 percent the month before and 71.9 percent in June 2013. Among big carriers, Delta Air Lines led, and Southwest and American were at the bottom of the rankings, both late more than 30 percent of the time.
● Hyundai will pay a $17 million fine for failing to promptly report a brake problem in Hyundai Genesis cars, the National Highway Traffic Safety Administration said. The fine covers 43,500 Genesis cars from the 2009-2012 model years. The defect involves corrosion in the brake system that can make it more difficult to stop and increase the risk of a crash, regulators said.
● Zynga reported unexpectedly weaker second-quarter bookings and slashed its 2014 forecast after saying it had delayed several games, including a revamped version of “Zynga Poker.” Other delayed titles included “Words With Friends” and mobile games from Natural Motion, a studio Zynga acquired for $527 million in January. Zynga said it now expects 2014 bookings, or deferred revenue, in the range of
$695 million to $725 million, compared with its previously announced forecast of $770 million to $810 million.
— From news services
● 8:30 a.m.: Second-quarter
productivity and costs.