U.S. banks resign themselves to lower yields for longer

Reuters: U.S. banks, after spending the last year bracing themselves for higher bond yields, are now resigning themselves to at least another few quarters of low rates, executives and analysts said. Banks including Wells Fargo & Co. and PNC Financial Services Group Inc. are contemplating steps like investing their extra cash at current low yields or using derivatives that pay off if rates stay low.

Oil drillers will fold during second quarter of 2015

Bloomberg: Oil drillers will begin collapsing under the weight of lower crude prices during the second quarter, and energy explorers who employ them will soon follow, according to Conway Mackenzie Inc., the largest U.S. restructuring firm. Companies that drill wells and manage fields on behalf of oil producers will be the first to fall after the benchmark American crude, West Texas Intermediate, lost 57 percent of its value in seven months.

Google is becoming a wireless carrier

CNNMoney: Google Inc. will soon start selling cellphone service along with its Android phones, according to multiple news reports. Rather than spending the tens of billions of dollars it would cost to create a wireless network, Google reportedly will carry its service over Sprint and T-Mobile’s networks.