Corporate cash-hoarding continues
Even as the economy improves, corporate America continues to pile up record amounts of unused cash, Bloomberg reports. Read more at Counterparties
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Verizon sees "significant" impact from Sandy on fourth-quarter results
Credit: Reuters
(Reuters) - Verizon Communications Inc (VZ.N) said it expected fourth-quarter results to be hurt significantly due to superstorm Sandy and that it could not estimate the impact at this time.
The provider of telephone, Internet and television services said it was directing its resources to restore communications services to affected customers, "which may take some time".
Verizon may take up to two weeks to restore telecommunication services for some of its customers, a top executive told Reuters on Thursday. (Reporting by Supantha Mukherjee in Bangalore; Editing by Sreejiraj Eluvangal)
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