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In the midst of the first-quarter earnings reports season, investors are beginning to look at the effects of some spectacular price cuts for prepaid cell phone service. That’s a change from recent years, when flashy new phones and data services hogged the spotlight. This year, the developments have been more appropriate for a recession.
The Federal Communications Commission took the first step Wednesday in developing a comprehensive plan to give all Americans high-speed Internet access. At a meeting in Washington, the commission put out a request for comments from the public and industry. The FCC will assemble its plan and present it to Congress by next February, as ordered in the economic stimulus package passed this year.
Cablevision Systems should stop saying its Internet service is “the fastest around,” the advertising industry’s self-regulatory body said Thursday, in response to complaints from competitor Verizon Communications. Cablevision should also stop saying it has “America’s most advanced fiber optic network,” the National Advertising Division Council of Better Business Bureaus said.
Nokia, the world’s largest maker of cell phones, is making a large investment in a California-based startup that wants to make the mobile phone the credit card of the developing world. The amount of Nokia’s investment in Obopay of Redwood City was not disclosed Wednesday, but the startup made a regulatory filing this month for the sale of up to $70 million in preferred stock.
Nokia, the world’s largest maker of cell phones, is making a large investment in a California-based startup that wants to make the mobile phone the credit card of the developing world. The amount of Nokia’s investment in Obopay of Redwood City was not disclosed Wednesday, but the startup made a regulatory filing this month for the sale of up to $70 million in preferred stock.