Robert Quinn News
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Congressional Republicans want to rein in a $2.2 billion U.S. mobile-phone subsidy for the poor, saying it’s riddled with fraud and benefits the world’s richest man, Mexican billionaire Carlos Slim.
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A lawmaker expressed “uneasiness” about how companies that develop applications for smartphones may use data collected from U.S. mobile phone customers.
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JPMorgan Chase & Co., the biggest U.S. bank, reached a settlement with regulators to resolve claims tied to its home-loan business and said it would buy back as much as $3 billion of shares.
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AT&T Inc. said it was concerned that U.S. regulators will “radically” restrict its ability to buy the rights to airwaves to meet growing demand for smartphones and tablet computers.
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Companies in the euro area are poised to cut dividends to the lowest level in four years as chief executive officers stockpile cash to weather the region’s sovereign-debt crisis.
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AT&T Inc. ’s $39 billion purchase of T-Mobile USA, the biggest acquisition worldwide in almost a year, may take a year to gain regulators’ approval even if the carrier pledges to sell assets and expand rural coverage.
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The Federal Communications Commission said concentration is rising among U.S. mobile-telephone providers, a conclusion that AT&T Inc., the nation’s second- biggest wireless company, said may lead to more regulation.
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The FCC’s move against AT&T Inc.’s $39 billion purchase of a smaller rival may signal tougher opposition to corporate mergers by the Obama administration.
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AT&T Inc. and Verizon Wireless must let smaller competitors use their networks for mobile Internet service under rules approved today by a divided Federal Communications Commission.
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