Verizon pays $1.25 million fine, allows tethering

US mobile giant Verizon Wireless has been forced to pay a $1.25 million fine by the country’s Federal Communications Commission (FCC) for imposing restrictions on its mobile-phone customers.

According to the FCC, Verizon had blocked customers trying to access certain data applications, contravening the terms of its “C-block”, 700MHz spectrum license.

When Verizon received that license it was on the condition that it allowed customers to freely use the devices and applications of their choosing.

General Motors and OnStar join Pecan Street

General Motors and its technology subsidiary OnStar have announced plans to join the smart-grid project being led by Pecan Street in Texas.

Pecan Street, a non-profit research and development consortia based at the University of Texas, is testing a clean-energy smart grid in a neighbourhood in Mueller, about three miles from Austin. The project has received some $10.4 billion from the Energy Department and about $14 billion from project partners.

Verizon completes takeover of Hughes Telematics

US network operator Verizon has completed its acquisition of M2M player Hughes Telematics, saying the deal will help it to expand its capabilities in automotive and fleet telematics.

Hughes will become a part of Verizon Enterprise Solutions, which already provides M2M services to the automotive, transportation and healthcare industries, among others.

Sensus acquires stake in CAS Tecnologia

Smart-grid vendor Sensus (Raleigh, US) has taken a 15% stake in CAS Tecnologia, one of the largest smart-grid companies in Brazil.

The move will give Sensus exposure to the massive Brazilian market as well as the right to distribute Hermera, CAS Tecnologia’s utility data management platform, around the world.

Apple, Samsung take patent fight to crucial California trial

Reuters

Apple Inc and Samsung Electronics Co Ltd take their battle for mobile supremacy to court on Monday in one of the biggest-ever technology patent trials, a case with the potential to reshape a fast-evolving market they now dominate.

AT&T authorizes share buyback worth $11 billion

AT&T’s board of directors today authorized a share buyback of up to 300 million additional shares.

The amount of shares represents about 5% of its outstanding stock and would be worth some $11.1 billion according to Friday’s closing price.

“This action allows us to continue returning cash to our shareholders through dividends and buybacks while maintaining a strong balance sheet and investing in the future of our business,” said Randall Stephenson, AT&T’s chairman and chief executive.

Apple blames rare miss on new iPhone anticipation, economy

Reuters

Apple Inc results fell short of Wall Street's lofty expectations as a sagging European economy and a pause in iPhone sales ahead of a new version saw revenues slip from the previous quarter.

Shares fell more than 5 percent to $570.81 in late trade after the world's most valuable technology company - which beats expectations with near regularity - reported its second quarterly miss in less than a year.

Apple's suppliers also felt the pain. Shares of LG Display, Toshiba and Hon Hai sank between 5 and 7 percent.

New data pricing from Verizon, AT&T may complicate family life

Reuters

Arguments around U.S. family dinner tables may soon go from who talked too much on the phone this month to who used up the family's Internet service.

Thanks to new metered pricing plans for Internet access unveiled by top U.S. cellular providers Verizon Wireless and AT&T Inc families will be able to share a single data allowance for multiple devices. A drawback is the higher price of data in these plans.

TI sees third-quarter revenue hurt by weak orders

Reuters

Texas Instruments Inc's second-quarter profit beat Wall Street expectations but the company warned that its third-quarter revenue would be weaker than usual for this time of year as customers are cautious due to global economic uncertainties.

Shares of TI, which makes chips for a wide range of products such as cellphones and industrial equipment, fell 1 percent in extended trade after it said Monday that orders weakened in June and that its backlog for shipments due in September is also lighter than expected.

Cisco to cut about 1,300 jobs

Reuters

Network equipment maker Cisco Systems said on Monday that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company.

"We are performing a focused set of limited restructurings that will collectively impact approximately 2 percent of our global employee population," the company said in an emailed statement.

These actions are part of a continuous process to simplify the company and assess the economic environment in certain parts of the world, it said.

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