Telefonica Sells Private Jets, Becomes Less Mobile

Telefonica SA, the Spanish phone company whose net debt is bigger than its market value, plans to reduce its fleet of private jets as part of an effort to cut costs, two people familiar with the matter said.
VIX Fixed on Fed Rate Hike Others Are Downplaying
24:12 - Michael Purves, chief global strategist at Weeden & Co., discusses the reliability of the VIX Index as a market indicator and why the VIX is anticipating a Federal Reserve rate hike later this month. He speaks on "Bloomberg Markets." (Source: Bloomberg)
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