Deutsche Telekom now holds a majority in T-Mobile U.S., the chief executive of the German telecoms company said on Wednesday, Reuters reported. The company reached a majority stake in T-Mobile U.S late Tuesday, CEO Tim Höttges said at the company's annual general meeting. "We have the majority and are the largest shareholder of the world's most valuable telecommunications company - T-Mobile U.S.," he said. Since 2013, the value of T-Mobile U.S. has increased by 153 billion euros ($167.44 billion).

Virgin Orbit, the rocket company founded by British billionaire Richard Branson, has filed for bankruptcy in the U.S., CNN reported. The California-based company said in a statement Monday that it had filed for chapter 11 bankruptcy. “While we have taken great efforts to address our financial position and secure additional financing, we ultimately must do what is best for the business,” Dan Hart, chief executive of Virgin Orbit, said in the statement posted on its website.

The cinema chain has announced that it will no longer be selling its U.K., Irish and U.S. locations despite filing for bankruptcy protection last year, the (U.K.) Gazette and Herald reported. The global company operates brands like Cinema City, Picturehouse, Regal and Planet with 750 locations around the world. On Monday, April 3, it announced that it has now terminated the planned sale after struggling to find an acceptable offer. Instead, the chain will go under financial restructuring of its approximately £4 billion debt pile.

Over the past year, governments around the world have announced tax breaks, subsidies and new laws in a bid to accelerate investment, combat climate change and expand their workforces. That might not be enough, the Wall Street Journal reported. The World Bank is warning of a “lost decade” ahead for global growth, as the war in Ukraine, the COVID-19 pandemic and high inflation compound existing structural challenges.

The Mexican economy is seen as expanding up to 3.0% both this year and in 2024 as consumer price inflation is expected to slow, according to a copy of the government's draft budget document seen by Reuters. The finance ministry is set to present the 2024 budget to Congress on Friday. The ministry estimates that Latin America's second-biggest economy will grow between 2.2% and 3.0% this year, and between 1.6% and 3.0% in 2024, according to the document, as the country continues to claw back pandemic-led losses.

Two New Yorkers who created a popular financial news show on Russian state television and cashed in on the crypto boom have emerged as key advisers to the Salvadoran government on its adoption of bitcoin, according to a WSJ Pro Bankruptcy analysis. Max Keiser and Stacy Herbert are also investing in bitcoin ventures in the Central American country and are founding backers of a crypto exchange that is helping manage El Salvador’s sovereign debt sale that is linked to bitcoin.