Telecommunications industry
Cable & Wireless and British Telecom are reportedly close to sealing significant deals in the US, adding to the growing trend of telecoms mergers and acquisitions. Cable & Wireless has dropped a breach of contract lawsuit against US group MCI, with negotiations over the purchase of MCI's expanded
Telecommunications industry
Sprint's PCS unit and Lucent Technologies have announced a joint effort to accelerate the construction of a nationwide wireless-phone network. The partnership, which has been delayed due to a complex partnership with cable-television giants, has been revitalized with a three-year commitment of up to $700 million for equipment
Telecommunications industry
The Federal Trade Commission has voted to bring an antitrust complaint against Intel Corp., accusing the chip maker of using its monopoly position to stifle competition. The complaint alleges that Intel has withheld vital computer information and threatened to reduce chip supply to competing companies, including Digital Equipment Corp., Intergraph
Telecommunications industry
British Telecom's (BT) CEO, Sir Peter Bonfield, saw his annual pay and bonus package surge to $1.1 million in the year to March 31, amid flat profits and the collapse of a proposed merger with MCI. Despite a modest increase in basic salary, Bonfield's total
Telephone services
Sprint Corp.'s major overhaul to its phone network, dubbed the Integrated on Demand Network, promises to bring a wide array of functions to a single phone connection at lower prices. The upgrade, which has been five years in the making, will overturn the traditional system of basing phone
Telephone services
Sprint, the No. 3 long-distance company, has announced a radical new telephone service that converges voice, video, and data into a single high-speed connection. The Integrated On-Demand Network (ION) service will enable customers to use multiple services simultaneously, such as talking, faxing, playing video games, and surfing the Internet, at
Telephone services
In a significant move, MCI Communications Corp. agreed to sell its wholesale Internet business to Cable & Wireless PLC for $625 million. This decision is aimed at addressing antitrust regulators' concerns about its planned merger with WorldCom Inc., which was valued at $37 billion. The sale is expected to
Telephone services
European regulators have stepped up their coordination with US authorities on the proposed $37 billion merger between WorldCom and MCI Communications. This move has sent stocks of both companies soaring to 52-week highs. The European Union's Competition Commissioner, Karel Van Miert, stated that they are working to obtain
Telecommunications industry
BellSouth Corp. is preparing to offer high-speed Internet access over telephone lines through its ADSL (asymmetric digital subscriber line) technology, which will start rolling out in the summer. The service will first be available in cities such as New Orleans, Atlanta, and Birmingham, and will be in 30 markets by
Telecommunications industry
The Denver Public Library has launched an innovative program, Oracle Library Laboratory, designed to equip at-risk students with the essential computer and research skills required to complete school assignments. This pilot project, which runs through June, aims to provide long-term benefits to students, enhancing their academic performance and digital literacy.
Telephone services
A late-afternoon rally in the bond market Tuesday sparked optimism among investors, leading to a surge in stocks. The Dow Jones industrial average rose 70.25, or 0.8 percent, with Wal-Mart Stores Inc. leading the gain after reporting a stronger-than-forecast profit. The Standard & Poor's 500 also
Telephone services
Acquisitions and mergers continued to set records on Monday, with more than $88 billion in deals announced. Industry experts point to changing technology and regulation as key factors driving this trend, with five of the top 10 deals ever announced in the past two months alone. This year's
