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Photo: ALASTAIR PIKE/AFP via Getty Images

Nevada and Texas announced Monday they are dropping out of the suit that seeks to block T-Mobile's acquisition of Sprint. Texas said it got a number of commitments, including an agreement not to raise rates for 5 years and to ensure the state's rural areas have 5G coverage.

Why it matters: The lawsuit from the states is the main remaining hurdle to the deal's closure. Texas Attorney General Ken Paxton was the only Republican seeking to block the deal.

  • Yes, but: 14 states are still suing, with a trial set to begin next month.

What they're saying: "Today's deal does not resolve the fundamental anti-competitive concerns at the core of this case — that the mega-merger of T-Mobile and Sprint will reduce competition in the mobile marketplace," New York Attorney General Letitia James said in a statement.

Go deeper:

Go deeper

32 mins ago - Technology

Facebook: Metaverse won't "move fast and break things"

Illustration: Aïda Amer/Axios

Facebook on Monday said it will invest $50 million over two years in global research and program partners to ensure its metaverse products "are developed responsibly."

Why it matters: "It's almost the opposite of that now long-abandoned slogan of 'move fast and break things,'" Facebook's VP of global affairs Nick Clegg told Axios in an interview at The Atlantic Festival Monday.

Ina Fried, author of Login
42 mins ago - Technology

Facebook presses "pause" on Instagram Kids

Illustration: Annelise Capossela/Axios

Facebook's announcement Monday that it was "pausing development" on Instagram Kids did little to slow a wave of criticism of the project ahead of a Senate hearing Thursday.

Yes, but: There's an argument to be made for building kids' versions of popular apps, even if their adult versions are causing real-world harms.

Ford's big plans to turbocharge the electric car industry in the U.S.

Illustration: Annelise Capossela/Axios

Ford Motor Company’s new $11 billion manufacturing plan, the biggest component of which will sit just outside Memphis, is part of a much bigger effort to put the U.S. at the center of the electric vehicle revolution, executive chairman Bill Ford says.

The big picture: Ford’s plans — for enormous facilities in both Tennessee and Kentucky, employing a combined 11,000 workers — are ambitious manufacturing efforts designed to minimize their environmental impact.