Telecoms Under Pressure; Eyes on Fed -- Telecoms Roundup

Shares of telecommunications companies were lower ahead of the Federal Reserve's policy decision Wednesday.

Defensive sectors such as telecoms are particularly sensitive to changes in central-bank policy.

Sprint is giving away unlimited wireless service for a year to customers who switch to the No. 4 U.S. carrier, an aggressive move in an already fierce industry price war.

Time is eliminating about 300 jobs in the U.S. and abroad, as the country's largest magazine publisher sharpens its focus on digital media and video opportunities.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 13, 2017 17:21 ET (21:21 GMT)