Connectivity conflict: A group of state attorneys general led by New York and California filed a federal lawsuit Tuesday to block T-Mobile’s $26.5 billion bid for Sprint, citing consumer harm. The state attorneys general said the promised benefits, such as better networks in rural areas and faster service overall, cannot be verified, while eliminating a major wireless company will immediately harm consumers by reducing competition and driving up prices for cellphone service Other attorneys general joining Tuesday’s lawsuit are from Colorado, Connecticut, the District of Columbia, Maryland, Michigan, Mississippi, Virginia and Wisconsin. Read the full story.
Record-breaking: The shale revolution powered U.S. oil and gas production in 2018 to the largest annual increase ever recorded by any country, according to energy giant BP PLC, The Wall Street Journal reports. Surging global energy demand is fueling the production boom, even as oil and gas prices rise and economic growth slows, said BP’s annual statistical review published Tuesday. Worldwide demand for energy grew 2.9% in 2018, its fastest rate since 2010. Read the full story.
All ears: The U.S. Department of Agriculture has lowered its estimate of this year’s corn crop to the lowest in four years, saying wet weather has delayed planting and reduced acres planted and the expected per-acre yield. The expected production was cut in a monthly report released Tuesday by 1.4 billion bushels to 13.7 billion bushels, the lowest since 2015. While weather problems also have slowed soybean planting, the USDA didn’t change estimates since farmers have several more weeks to plant. Read the full story.