Wednesday, 1 October 2014
Last updated 9 hours ago
Jan 27 2011 | 11:59am ET
Harbinger Capital Partners' ambitious satellite broadband venture got a big boost yesterday, winning approval for its plan to offer cellular phone service.
The Federal Communications Commission granted a waiver, requested by LightSquared, in November, to allow the venture to use its current wireless licenses to offer terrestrial services, including cell phone service. FCC rules generally require cell phones using those airwaves to support satellite calls.
The regulator granted the venture in spite of concerns, expressed by the U.S. departments of Commerce, Defense, Homeland Security and Transportation, that LightSquared's plans would present "significant interference concerns." LightSquared has pledged to resolve those.
"This is a promising opportunity to promote mobile broadband," the FCC said. "Having an extra player in the mobile broadband field increases competition and provides customers with more choices."
"LightSquared's network will provide a robust, open-access network that will permit reliable and affordable service to customers across the country in every market segment," the company said.
Harbinger has invested some 40% of its assets in the ambitious plan, which is set to begin trials in four cities this year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...