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As bad as the crisis in the telecommunications industry may be, things may be about to get worse. That’s because Wi-Fi (wireless fidelity) Internet access—which is significantly cheaper than its DSL and cable modem alternatives and can be faster—is threatening the business models of cellular carriers, phone gear makers, and providers of high-speed DSL and cable data services.
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US investment banks are cutting costs by shrinking employment, but they can trim other types of spending without causing serious damage to their culture or morale.
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