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Massachusetts businessman Michael Smith is suing AT&T over a $1million phone bill for dozens of phone call he never made. Mr Smith says that during one weekend in 2009, phone hackers used his phone system to make hundreds of calls to Somalia. AT&T sued him for the $891,470 calls plus interest, but have since dropped their claim – if he drops his counter-suit. The telecommunications company said in a statement Monday it is [...] From Bloomberg: The world’s richest people lost a combined $32.8 billion this week as concerns over a possible Greek exit from the euro area pushed the Standard & Poor’s 500 index to its biggest weekly loss since November 2011. Mexican Carlos Slim, 72, lost the most during the week, as shares of his Mexico City-based telecommunications company America Movil SAB fell 4.38 percent. Slim, who lost $4.1 billion, remains the world’s richest person [...] By Robert Schroeder, MarketWatch WASHINGTON (MarketWatch) — About 45,000 Verizon workers will be back on the job Tuesday after a roughly two-week strike. The Communication Workers of America and the International Brotherhood of Electrical Workers said the workers will return to their jobs while the unions keep negotiating with Verizon Communications Inc. “We have reached agreement with Verizon on how bargaining will proceed and how it will be restructured. [...] Verizon Communications Inc. (VZ), the telephone company where about 45,000 workers are out on strike, told the employees it will suspend certain benefits at the end of the month if they haven’t returned to their jobs. Workers at two unions that have called strikes will lose basic health-insurance, dental, vision and prescription-drug benefits, said Richard Young, a spokesman for the company. Verizon stopped funding the workers’ pensions when their former contract [...] Verizon Communications Inc. reported a dozen cases of sabotaged cable lines and warned of delays in repairs and customer service on the second day of a strike involving about 45,000 employees. The telecommunications company said there have been 12 acts of sabotage to telephone lines and to Internet and television services in Massachusetts, Maryland, New Jersey, and New York since the strike began. Fiber-optic lines were [...] From FT: Reader’s Digest Association, the 90-year-old publishing and marketing company that emerged from bankruptcy last year, is looking to sell itself for at least $1bn, according to people with knowledge of the plans. The company publishes more than 90 magazines, including the eponymous title with which it made its name in the postwar US, and Every Day with Rachael Ray. It also runs a successful direct [...] Greece sells 10% of telecom firm Greece took the first step to raise money from the sale of government assets yesterday while a top official at the European Central Bank argued that the country was not insolvent and should not be excused from paying its debts. Greece exercised an agreement to sell a 10 percent stake in the state-owned telecommunications company, known as OTE, to Deutsche [...] |
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