STEVE INSKEEP, host:
The business news starts with more competition in cable TV.
Federal regulators have given a boost to phone companies trying to move into the cable TV market. AT&T and Verizon are trying to offer video programming alongside their voice services. Yesterday the Federal Communications Commission voted to ban cities from imposing tough conditions on businesses who compete with traditional cable firms.
And express mail carrier FedEx just had its busiest day ever, but the company says it may still see its first fall in profits in three years. FedEx is blaming its disappointing outlook on fuel prices. Wall Street analysts say the slowing economy is also a factor.
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