T-Mobile misses estimates for wireless subscriber additions
(Reuters) - T-Mobile reported on Thursday fewer new wireless subscribers than Wall Street expected for the first quarter, as rivals dial up on promotions to stay ahead in a competitive market.
Shares in the Bellevue, Washington-based company fell 3.9% in extended trading.
The company reported postpaid phone net additions of 495,000 in the quarter, compared to FactSet estimates of 506,400 additions.
(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
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Malay Mail
an hour ago
- Malay Mail
Trump's tariffs made fast fashion faster — and dirtier
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From Guangzhou to your wardrobe in days Platforms such as Shein and Temu built their success by offering trend-driven clothing at shockingly low prices. A US$5 (RM21) dress or US$3 top might seem like a bargain, but those prices hide a lot. Much of Shein's production takes place in the so-called 'Shein village' in Guangzhou, China, where workers often sew for 12–14 hours a day under poor conditions to keep pace with the demand for new items. When the US cracked down on Chinese imports, the intention was to make American-made goods more competitive. This included raising the tariff on Chinese goods as high as 145 per cent (since paused), and closing the 'de minimis' loophole, which had allowed imports under USUS$800 to enter tariff-free. But these tariffs did not halt ultra-fast fashion. They just rerouted production to countries with lower tariffs and even lower labour costs. The Philippines, with a comparatively low tariff rate of 17 per cent, emerged as a surprising alternative. However, the country can't provide the industrial scale and infrastructure to match what China can offer. So why does Australia matter? Much of the cheap fashion previously bound for the US is now flooding other markets, including Australia. Australia still allows most low-value imports to enter tax-free, and platforms such as Shein and Temu have taken full advantage. Australian consumers are among the most frequent Shein and Temu buyers per capita globally. Just 3 per cent of clothing is made in Australia and most labels rely on offshore manufacturing. This makes Australia an ideal target market for ultra-fast fashion imports. We have high purchasing power, lenient import rules and strong demand for low-cost style, especially due to the cost-of-living crisis. The hidden costs of cheap clothes The environmental impact of fast fashion is well known. 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Fixing these problems will require a global rethink of how fashion operates. Governments have a role in regulating disclosures about supply chains and enforcing labour standards. Brands need to take responsibility for the conditions in their factories, whether directly owned or outsourced. Transparency is essential. Alternatives to fast fashion are gaining traction. Clothing rentals are emerging as a promising business model that help build a more circular fashion economy. Charity-run op shops have long been a sustainable source of second-hand clothing. Australia's new Seamless scheme seeks to make fashion brands responsible for the full life of the clothes they sell. The aim is to help people buy, wear and recycle clothes in a more sustainable way. Consumers also matter. If we continue to expect clothes to cost less than a cup of coffee, change will be slow. Recognising that a US$5 T-shirt has hidden costs, borne by people on the factory floor and the environment, is a first step. 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