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TELECOM
Qwest posts Q3 loss, sales flat
The telecom lost 8 cents vs. a 14-cent profit a year ago. Analysts expected a 3-cent profit. Qwest's sales were $4.77 bil, down 12% from Q2 and missing views. It warned on Q4 sales, blaming the weak economy for hurting sales of capacity on its high-speed optical network. Its shares fell 3.05, or 19%, to a three-year low of 12.95.
7-Eleven will let customers pay phone bills and order Verizon long distance and other services at Web kiosks.
Commonwealth Telecom raised its Q4 goal to 44-46 cents from 32-34 cents. It earned 9 cents in Q4 '00. Its shares rose 1.33 to 42.83.
British Telecom seeks new boss
BT CEO Peter Bonfield will resign in Jan., a year early. The former U.K. monopoly will spin off its mobile unit soon and faces regulatory pressures and stiffer competition for lucrative business clients. BT didn't name a successor, a sign it may seek an outsider, sources said.