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Arvind Kapur’s <keyword id="67917" type="COMPANY" weightage="20" keywordseo="Rico-Auto">Rico Auto</keyword> Industries has given up its 50% stake in <keyword id="2535085" type="COMPANY" weightage="20" keywordseo="FCC-Rico">FCC Rico</keyword> Ltd to its Japanese partner <keyword id="2535086" type="UNKNOWN" weightage="20" keywordseo="FCC-Co">FCC Co</keyword> Ltd. There was a joint venture company between Rico Auto and FCC Co with 50:50 share equity. The company sold its stake for Rs 495 crore. 
	
		"... The Board of Directors of Rico Auto Industries Ltd. on September 25, 2014 has approved the divestment of the entire 50 per cent stake of the Company in FCC RICO Limited, the joint venture between the Company and FCC Co Ltd, Japan, to FCC Co Ltd, Japan or its affiliates, a FCC Group Company for gross consideration of Rs 495 crore," the company informed Bombay Stock Exchange. 
		 
	
		The company added, “The sale will be completed subject to completion of customary conditions precedent and such other regulatory conditions as may be required to be complied with as applicable". 
	 
	
		The joint venture was established in 1997 and was exclusively into manufacturing and supplying of automobile clutch assemblies to OEMs of two wheelers and four wheelers. Some of its primary clients include Honda group companies, Suzuki, Yamaha, TVS, Piaggio and Bajaj. Rico Auto, in its quarter ended 30 June, has declared that auto component maker has carried out an assessment to determine if there is a permanent diminution in the value of investments in two of its subsidiaries <keyword id="2535087" type="UNKNOWN" weightage="20" keywordseo="Rasa-Autocom">Rasa Autocom</keyword> Ltd and Rico Jinfei Wheels Limited. 

Represntational Image

Japanese FCC Co Buys Out Rico Auto’s
Stake For Rs 495 Crore

Following the entire stake sale in FCC Rico Limited, a joint venture between <keyword id="67917" type="COMPANY" weightage="20" keywordseo="Rico-Auto">Rico Auto</keyword> and Japanese firm <keyword id="2653838" type="UNKNOWN" weightage="20" keywordseo="FCC-Co-Ltd">FCC Co Ltd</keyword>, <keyword id="624036" type="PERSON" weightage="20" keywordseo="Arvind-Kapur">Arvind Kapur</keyword>, chairman of Rico Auto, has now resigned from the Board of the company. Rico Auto had sold its entire 50% to FCC in September this year for Rs 495 crore. 
	 
	“…Pursuant to the divesture, the nominee directors of Rico Auto Industries Limited appointed to the board of FCC Rico Limited including Arvind Kapur have also resigned from the board of directors of FCC Limited with effect from today,” the company informed National Stock Exchange in a letter dated December 23, 2014. 
	 
	It should be noted that the board of Rico Rico Auto had approved the divestment of stake in its joint venture on September 25, 2014. The joint venture was established in 1997 and was exclusively into manufacturing and supplying of automobile clutch assemblies to OEMs of two wheelers and four wheelers. Some of its primary clients include Honda group companies, Suzuki, Yamaha, TVS, Piaggio and Bajaj. 
	 
	Rico Auto, in its quarter ended 30 June, has declared that auto component maker has carried out an assessment to determine if there is a permanent diminution in the value of investments in two of its subsidiaries Rasa Autocom Ltd and Rico Jinfei Wheels Limited. 
	 
	Representational Image

Rico Auto Chairman Arvind Kapur Resigns From Subsidiary Firm FCC Rico Limited Board

<ul class="summary-list"><li>FEMA is working with the FCC to send out a nationwide test of the emergency alert system.</li><li>The test was held on Wednesday, October 4 at about 2:20 p.m. EST, alerting phones, TVs and radios.</li></ul>Well, that was loud!On Wednesday afternoon, your phone probably got an alert if you live in the US. Don't be alarmed, it was just a scheduled test from the emergency alert system.The Federal Emergency Management Agency, more commonly known as FEMA, partnering with the Federal Communications Commission and Puerto Rico Emergency Management Bureau, sent out a test of the emergency alert system. The agency says the alert was scheduled to go out on Oct. 4 at about 2:20 p.m. Eastern Standard Time. That's why phones, TVs, and radios went off at around that time.It was a nationwide test scheduled to go off at 2:20 p.m. EST, but the time it went off depends on where you are in the US. 2:20 p.m. EST is 1:20 p.m. CST, 12:20 p.m. MST, 11:20 a.m. PST, and 8:20 a.m. for those in Hawaii. The Oct. 4 notification was broadcast by cell towers for about 30 minutes, but the emergency alert should have only lasted about one minute, according to FEMA. Your phone may have vibrated and made a sound as you got a text message with the alert. TVs and radios also got the alert. The phone alert displayed the text, "THIS IS A TEST of the National Wireless Emergency Alert System. No action is needed," according to FEMA. Those who have their phone's language set to Spanish should have received a notification in Spanish. The notification was sent out to everyone in the US, Puerto Rico, and Guam who is within range of a cell tower. <div type="image" title="A screenshot of the emergency alert test sent out by FEMA in collaboration with the FCC on Oct. 4." height="1832" width="1166" msid="104168094" hostid="261" sizebytes="116396"></div>"These test alerts are necessary to verify that the system is working properly so that, in a real case, citizens will know what to do," Puerto Rico Emergency Management Agency Commissioner Nino Correa Filomeno said, according to the FEMA press release.The EAS normally sends out notifications for severe weather and amber alerts, according to the <a href="https://www.fcc.gov/emergency-alert-system#:~:text=The%20Emergency%20Alert%20System%20(EAS)%20is%20a%20national%20public%20warning,AMBER%20alerts%2C%20to%20affected%20communities." target="_blank" rel="noopener">FCC</a>. It is able to broadcast messages by radio and TV, along with wireless emergency alerts that are received via text message.FEMA and the FCC testing out the emergency alert system is not out of the ordinary. The EAS was also tested in <a href="https://www.insider.com/fcc-fema-national-emergency-alert-test-message-2021-8" target="_blank" rel="noopener">2021</a>. FEMA also sent out a test of the "presidential alert" system back in <a href="https://www.insider.com/fema-presidential-alert-test-2018-10" target="_blank" rel="noopener">2018</a>.The EAS is not immune to human error or ill-intentioned hackers. The most notable<a href="https://www.insider.com/times-emergency-alert-system-false-warnings-error-mistake-2018-10#there-was-a-zombie-warning-shown-in-michigan-in-2013-1" target="_blank" rel="noopener"> mistake</a> was the 2018 alert warning those in Hawaii of an <a href="https://www.businessinsider.com/how-people-in-hawaii-reacted-to-a-false-ballistic-missile-alert-2018-1" target="_blank" rel="noopener">incoming ballistic missile</a>, which sent many residents and vacationers into <a href="https://www.insider.com/hawaii-missile-alert-five-years-ago-experience-2023-6" target="_blank" rel="noopener">a panic.</a> A more absurd example is from 2013 when hackers sent out a <a href="https://www.businessinsider.com/krtv-zombie-apocalypse-alert-2013-2" target="_blank" rel="noopener">zombie apocalypse</a> alert in Montana.

Your phone just sounded an alarm. Don't panic.

<ul class="summary-list"><li><keyword id="6360701" type="DEFINITION" weightage="60" keywordseo="spacex">SpaceX</keyword> is <a href="https://www.businessinsider.com/spacex-starlink-satellite-internet-beta-testing-public-service-licensing-military-2020-10">quickly deploying Starlink</a>, a network of thousands of low-flying <keyword id="6357247" type="UNKNOWN" weightage="60" keywordseo="Internet">internet</keyword> satellites, in hopes of <a href="https://www.businessinsider.com/spacex-starlink-terminal-cost-subscriber-numbers-years-return-investment-profit-2020-11">earning big money</a> for the company.</li><li>To help fund the project, the Elon Musk-founded aerospace company competed in a $16 billion reverse-auction called <keyword id="9834789" type="UNKNOWN" weightage="60" keywordseo="rural-digital-opportunity-fund">Rural Digital Opportunity Fund</keyword> Phase I.</li><li>RDOF's goal is to subsidize <keyword id="121934" type="PERSON" weightage="60" keywordseo="broadband-internet">broadband internet</keyword> in areas of the US where access is limited or unavailable.</li><li>The FCC on Monday announced a <a href="https://docs.google.com/spreadsheets/d/1RmBVKmO-LzEGgwNYgkzWM4qzF8AvKQHpbR7wdDGup-s/edit?usp=sharing" target="_blank" rel="noopener">list</a> of 180 winning bidders, who won rights to more than $9.3 billion in support over the next 10 years.</li><li>SpaceX won $885 million in bids for <keyword id="7612156" type="UNKNOWN" weightage="60" keywordseo="starlink">Starlink</keyword> across 35 states. The company now has to complete a long-form application to secure rights to the subsidies — and deliver on its promises.</li></ul>On Monday, SpaceX received some very good <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> from the <keyword id="151072" type="ORGANIZATION" weightage="60" keywordseo="Federal-Communications-Commission">Federal Communications Commission</keyword>: The company has won more than $885 million in federal subsidies for its Starlink satellite-internet project.The money comes from the Rural Digital Opportunity Fund, a $20.4 billion effort to spread high-speed internet across America. The FCC program, funded by small fees tacked onto cell phone bills, is designed to lure internet service providers into bringing broadband to parts of the US where decent web access is lacking or nonexistent.The FCC split the project into two reverse auctions, called Phase I (worth up to $16 billion) and Phase II (worth up to $4.4 billion). Bidding for coverage areas in Phase I ran from October 29 through November 25, and the format made bids for higher-speed, lower-latency service much more valuable than bids for lower-speed, higher-latency service.On Monday, the <a href="https://www.fcc.gov/document/auction-904-winning-bidders" target="_blank" rel="noopener">FCC posted</a> its list of 180 winners, which included SpaceX.In total, those companies and consortiums gained access to $9.23 billion in support for 5.2 million homes and businesses spread across 49 states and one US territory - an average of $1,768 of subsidies per new internet connection. (Alaska, Puerto Rico, and the US Virgin Islands declined to participate in RDOF.) Business Insider created a spreadsheet of the summary data <a href="https://docs.google.com/spreadsheets/d/1RmBVKmO-LzEGgwNYgkzWM4qzF8AvKQHpbR7wdDGup-s/edit#gid=1784429674" target="_blank" rel="noopener">here</a>.In a public notice, the FCC said 99.7% of winning locations will bring a minimum of 100 Megabits per second download speeds - more than enough for streaming high-quality movies and uninterrupted video conferencing. About 85% of the locations are slated to receive service at least 10 times as fast.<h2>A needed boost for Starlink</h2><div type="image" title="spacex starlink user terminal phased array consumer satellite internet dish antenna ufo on a stick roof los angeles california website" height="1688" width="3000" msid="79616452" hostid="261"></div>SpaceX plans to fly as many as <a href="https://www.businessinsider.com/spacex-starlink-internet-satellites-itc-filing-30000-additional-42000-total-2019-10">42,000 Starlink satellites</a> into orbit. The goal, per Musk, is to provide high-speed internet to nearly any location on Earth and generate $30 billion to $50 billion in annual revenue.Musk views Starlink not as a personal wealth generator, but rather an economic flywheel to fund SpaceX missions to the moon and Mars, a planet where he wants to <a href="https://www.businessinsider.com/musk-highly-confident-spacex-will-send-humans-to-mars-2026-2020-12">start flying people in 2026</a> and, later, establish a permanent human settlement.Deploying Starlink is not cheap, though. Gwynne Shotwell, SpaceX's president and COO, estimated in 2018 that it may cost $10 billion to build and launch the first phase of 4,400 satellites the company is currently approved by the FCC to fly.Operating the network is also expensive, with <a href="https://www.businessinsider.com/spacex-starlink-satellite-dish-user-terminal-cost-stmelectronics-outsource-manufacturer-2020-11">SpaceX covering potentially up to $2,000</a> in cost per user terminal - a high-tech dish that communicates with Starlink satellites flying overhead. From this and other predicted costs, industry specialists estimate that SpaceX may need several years and around <a href="https://www.businessinsider.com/spacex-starlink-terminal-cost-subscriber-numbers-years-return-investment-profit-2020-11">3 million subscribers to break even</a> on the project. The $885 million worth of RDOF subsidies, while not as much of a windfall as SpaceX's roughly $2 billion-a-year fundraising, is nonetheless free money for the company to expand its services, which are still in beta but should go public in 2021.SpaceX won bids for locations, i.e. a house or business, spread across 35 states. The company's largest wins by total amount were in Washington state, where it won $80.38 million to cover more than 52,000 locations, Montana ($72.72 million for nearly 29,500 locations), Pennsylvania ($63.07 million for 59,200 locations), Virginia ($62.39 million for more than 53,600 locations), and Oregon ($57.9 million for more than 35,600 locations).By value per location, SpaceX's most lucrative winning bids were for Hawaii ($13,350 per location); Montana, Maine, and Utah (all about $2,400 per location); and Wyoming (about $2,210 per location).SpaceX won't have immediate access to all the money it won. Each winning bidder has to clear more steps with the FCC, including submission of a long-form application due by June 7, and must meet performance and timing deadlines or risk losing the subsidies and paying fines.Funding will be doled out over the next 10 years, which is SpaceX's case is an average of $88.5 million per year. That's far more than some bearish analysts predicted, one of whom <a href="https://www.businessinsider.com/spacex-starlink-unlikely-winner-fcc-rural-digital-opportunity-fund-subsidy-2020-8">previously told Business Insider</a> he didn't expect satellite companies to win "anything" from RDOF Phase I.The remaining Phase I funding will be pooled into Phase II, which is designed to fill in as many remaining gaps as possible. However, the FCC has yet decided how or when it plans to spend that $11.2 billion; some commissioners have lamented the quality of maps the agency used to determine which areas and locations would get awarded, and which wouldn't.SpaceX did not immediately acknowledge Business Insider's request for comment.

SpaceX just won $885 million in federal subsidies to expand Starlink, Elon Musk's satellite-internet project

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP</div></div></div><ul><li>Samsung is teaming up with the NextRadio app to enable FM radio on its future Galaxy smartphones. </li><li>Once enabled, FM radio will be available to Samsung users in the US and Canada. </li><li>Apple has removed the FM Chip from its more recent iPhones.</li></ul> Future Samsung phones will have a feature that many iPhone users can no longer access: FM radio.Samsung <a href="https://www.prnewswire.com/news-releases/samsung-becomes-latest-phone-manufacturer-to-unlock-the-fm-chip-300580225.html">recently announced</a> its collaboration with TagStation to enable FM radio on its Galaxy smartphones through its NextRadio app. The NextRadio app would Samsung users will be able to access FM radio <a href="https://www.theverge.com/2018/1/11/16877766/samsung-fm-radio-chip-nextradio-us-canada">without pulling</a> excess data or battery power from their smartphones. The "feature" will be available to Samsung users in the US and Canada. FM radio has declined in popularity due to the advent of music apps and streaming services, but a considerable number of smartphones still contain the chip that allows handsets to broadcast radio signals. It is simply a matter of smartphone manufacturers enabling the chip for that functionality.Some smartphone users with an affinity for old-school technology may appreciate having access to FM radio, but TagStation president Paul Brenner also <a href="https://www.prnewswire.com/news-releases/samsung-becomes-latest-phone-manufacturer-to-unlock-the-fm-chip-300580225.html">said in a press release</a> that having access to FM radio frequencies could benefit people in emergency situations. He noted that access to FM radio aided those affected by recent natural disasters in Puerto Rico, Houston and the Florida coast. Many in <a href="https://www.theverge.com/2018/1/11/16877766/samsung-fm-radio-chip-nextradio-us-canada">developing countries</a> rely on FM radio access on smartphones. Approximately 44% of US smartphones have their FM chips enabled, <a href="https://www.theverge.com/2017/2/16/14636508/ajit-pai-smartphone-fm-radio-activation">according to the FCC</a>. But many iPhone users don't have the same luxury, as <a href="https://www.theverge.com/2017/9/28/16379316/fcc-iphone-fm-radio-activation-request-ajit-pai">Apple confirmed</a> to the FCC in September 2017 that the iPhone 7 and iPhone 8 do not include the FM radio chip. Apple did note that older iPhones still have the chip.However small, this feature is likely one that consumers can expect in Samsung's upcoming Galaxy S9 smartphone, which the manufacturer confirmed <a href="http://www.businessinsider.com/samsung-galaxy-s9-release-date-price-features-announcement-mwc-february-2018-1">will be announced</a> in late February. <div id="categorypromo" style="border:1px solid silver; min-height:90px; padding:10px;vertical-align:top;"><a href="http://read.bi/next-smartphone"></a>EXCLUSIVE FREE SLIDE DECK: The Next Smartphone by the BI Intelligence Research Team. <a href="http://read.bi/next-smartphone">Get the Slide Deck Now »</a></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/best-iphone-apps-list-review-hq-trivia-ikea-monument-valley-2017-2017-12">Here are the best iPhone apps of 2017</a></h3> <div> </div> </div>

A feature coming to Samsung smartphones will give users more bragging rights over the iPhone

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Yudhi Mahatma/Antara Foto/ReutersGoogle cofounder Sergey Brin with a Loon balloon.</div></div></div>Alphabet has quietly upgraded its internet balloon initiative from a research lab "project" to an official corporation, setting the stage for what could be the latest standalone business to spin out from Google's parent company.Project Loon, which develops solar-powered balloons that beam internet access down to earth, has been incorporated as Loon Inc, according to regulatory filings. Business Insider first noticed Loon was listed as "Loon Inc." in a recent <a href="https://apps.fcc.gov/els/GetAtt.html?id=199448&amp;x=">filing to the FCC</a> seeking permission to float Loon balloons above Puerto Rico and provide internet access to areas affected by hurricane Maria. Previously, Loon was officially referred to as a project under Alphabet, or under X, the Alphabet subsidiary dedicated to creating ambitious "moonshot" technologies.Loon's incorporation is a sign that Alphabet may be preparing to spin Loon out of the X division and let it operate as its own company. Alphabet went through a similar process last year <a href="http://www.businessinsider.com/google-to-spin-out-self-driving-car-project-in-new-company-waymo-2016-12">with Waymo,</a> the company formed out of X's self-driving car project. X also <a href="http://www.businessinsider.com/alphabet-x-spins-out-geothermal-energy-company-dandelion-2017-7">spun out Dandelion</a>, a geothermal energy company, earlier this year, but Dandelion is not under the Alphabet umbrella.A Loon spokesperson declined to comment.<h2>Next candidate</h2>One person close to X told Business Insider a few months ago that Loon was the next likely candidate for a spin out of X. In February, Alphabet X's business <a href="http://www.businessinsider.com/google-project-loon-gets-new-ceo-2017-3">tapped Alastair Westgarth, a telecom industry veteran, to be the new CEO of Project Loon</a>. Getting spun out from the mothership often indicates that Alphabet believes an experimental technology or product has matured enough to be ready for commercialization. That gives the spinout company the freedom to pursue its own business objectives, while at the same time subjecting it to the financial pressures of an independent business.Google has previously said that it believes Loon's "floating cell towers in the sky" could one day become a business that <a href="http://www.businessinsider.com/google-project-loon-will-be-a-10-billion-business-2015-3">generates billions of dollars in revenue</a>. So far however, Loon has only seen limited deployments in areas like Sri Lanka, Peru, and more recently Puerto Rico.As a standalone company, Loon would join <a href="http://www.businessinsider.com/alphabet-google-company-list-2016-10/#google-officially-became-alphabet-in-october-2015-with-the-aim-to-allow-its-different-businesses-to-operate-independently-and-move-faster-each-division-has-its-own-ceo-with-google-cofounder-larry-page-taking-the-helm-of-alphabet-1">a growing roster of Alphabet subsidiaries</a>, known as "Other Bets," such as high-speed internet service Access, smart appliance maker Nest and Waymo, the self-driving car company. In the second quarter of the year, Alphabet's Other Bets posted an operating loss of $772 million, on revenue of $248 million.Spencer Hosie, a lawyer representing Loon competitor <a href="https://www.spacedata.net/">SpaceData</a> in a lawsuit, told Business Insider that he noticed the change in Loon's status in the recent FCC filing. Hosie said he plans to add Loon Inc. as a defendant in SpaceData's case against Alphabet. It's unclear when exactly Alphabet incorporated Loon, but Hosie said he suspected that it could have been as recently as last week.Julie Bort contributed to this report. Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-ios11-iphone-software-features-tips-tricks-power-user-video-2017-9">The 5 best hidden features from the latest iPhone update</a></h3> <div> </div> </div>

Alphabet has quietly incorporated its internet balloon project, a sign it could spin out as a new company soon

<ul class="summary-list"><li>This story was delivered to Business Insider Intelligence Connectivity &amp; Tech subscribers earlier this morning.</li><li><a href="https://store.businessinsider.com/products/connectivity-tech-pro-membership?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=top_text&amp;itm_term=bundle_subscription_text_link-att-sets-future-course-after-q4-earnings-2020-1">To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here.</a></li></ul>US telecom giant AT&amp;T's Q4 2019 <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly9pbnZlc3RvcnMuYXR0LmNvbS9-L21lZGlhL0ZpbGVzL0EvQVRULUlSL2ZpbmFuY2lhbC1yZXBvcnRzL3F1YXJ0ZXJseS1lYXJuaW5ncy8yMDE5LzRxLTIwMTkvNFExOV9JbnZlc3RvciUyMEJyaWVmaW5nLnBkZg/5d233c18f730436f2414784fBad54732f" target="_blank" rel="noopener">earnings</a> disclosed disappointing results while also outlining a strategy for future growth. The second-largest US wireless carrier by volume, AT&amp;T collected $36.5 billion in revenue, 1.9% less than its Q4 2018 revenue.During the quarter, the company also gained 3.6 million new wireless customers, down more than 5% year-over-year (YoY) from <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly9pbnZlc3RvcnMuYXR0LmNvbS9-L21lZGlhL0ZpbGVzL0EvQVRULUlSL2ZpbmFuY2lhbC1yZXBvcnRzL3F1YXJ0ZXJseS1lYXJuaW5ncy8yMDE4LzRxLTIwMTgvSUJfNFEyMDE4LnBkZg/5d233c18f730436f2414784fB33ee53d1" target="_blank" rel="noopener">3.8 million</a> in Q4 2018. Additionally, the company experienced a higher rate of customer churn at 1.29%, up from 1.23% in Q4 2018. Amid these mediocre results, AT&amp;T laid out its vision for the next few years, with both short- and long-term plans.Here's what AT&amp;T intends to accomplish in the next year:In 2020, the company plans to turn its massive investments into sources of revenue. AT&amp;T <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly9pbnZlc3RvcnMuYXR0LmNvbS9-L21lZGlhL0ZpbGVzL0EvQVRULUlSL2ZpbmFuY2lhbC1yZXBvcnRzL3F1YXJ0ZXJseS1lYXJuaW5ncy8yMDE5LzRxLTIwMTkvQVRUJTIwNFExOSUyMEVhcm5pbmdzLnBkZg/5d233c18f730436f2414784fB5335abdc" target="_blank" rel="noopener">plans</a> to establish nationwide 5G coverage by mid-2020, a costly endeavor - in July 2019, the company <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly9hYm91dC5hdHQuY29tL3N0b3J5LzIwMTkvYXR0X2VuaGFuY2VzX3NwZWN0cnVtX3Bvc2l0aW9uLmh0bWw/5d233c18f730436f2414784fBa9d0689c" target="_blank" rel="noopener">spent</a> almost $1 billion on 5G spectrum alone at an FCC auction. Building a nationwide 5G network will expand the addressable audience for AT&amp;T's service, which <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly93d3cudGhldmVyZ2UuY29tLzIwMTkvMTIvMTMvMjEwMTQ4MTYvYXR0LWxvdy1iYW5kLTVnLW5ldHdvcmstYnJvYWQtMTAtY2l0aWVzLWxhdW5jaC1zcGVlZHMtaW50ZXJuZXQ/5d233c18f730436f2414784fB3ff3fc57" target="_blank" rel="noopener">launched</a> in December 2019 in just 10 US cities - by comparison, rival Verizon finished 2019 with 5G service in over <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly93d3cudGhldmVyZ2UuY29tLzIwMTkvMTIvMjMvMjEwMzQ5MDUvdmVyaXpvbi01Zy1uZXR3b3JrLWNvdmVyYWdlLTMxLWNpdGllcy1nb2Fs/5d233c18f730436f2414784fB11d9541d" target="_blank" rel="noopener">30</a> cities, after launching commercial 5G in April 2019.On the entertainment front, AT&amp;T has spent <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly92YXJpZXR5LmNvbS8yMDIwL2RpZ2l0YWwvbmV3cy9hdHQtcTQtMjAxOS13YXJuZXJtZWRpYS1oYm8tbWF4LWludmVzdG1lbnQtMTIwMzQ4NTExMS8/5d233c18f730436f2414784fB4645c9f1" target="_blank" rel="noopener">$1.2 billion</a>, in addition to the <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly93d3cucmV1dGVycy5jb20vYXJ0aWNsZS91cy10aW1lLXdhcm5lci1tLWEtYXQtdC9hdHQtY2xvc2VzLTg1LWJpbGxpb24tZGVhbC1mb3ItdGltZS13YXJuZXItaWRVU0tCTjFKQTM2VQ/5d233c18f730436f2414784fB7440b910" target="_blank" rel="noopener">$85 billion</a> spent to acquire Time Warner, to develop its HBO Max streaming service, which it plans to <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly90ZWNoY3J1bmNoLmNvbS8yMDE5LzEwLzI5L2hiby1tYXgtd2lsbC1jb3N0LTE0LTk5LXBlci1tb250aC1hbmQtd2lsbC1sYXVuY2gtaW4tbWF5LTIwMjAv/5d233c18f730436f2414784fB904a64e2" target="_blank" rel="noopener">launch</a> in May 2020. The debut of HBO Max is expected to be bolstered by the company's nationwide 5G network; AT&amp;T anticipates the subsequent 5G device upgrade cycle will present an opportunity to distribute HBO Max, likely by bundling the service with new 5G data plans. Here's what AT&amp;T plans to do in the long term:Over the next three years the telecom will focus on unburdening itself of debt. AT&amp;T aims to pay off the <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly93d3cud3NqLmNvbS9hcnRpY2xlcy93aXRoLXRpbWUtd2FybmVyLWRlYWwtYXQtdC1idWxrcy11cC1vbi1jb250ZW50YW5kLWRlYnQtMTUyODkyODQ3OQ/5d233c18f730436f2414784fBfe6f81ff" target="_blank" rel="noopener">massive</a> debt it took on to fund its acquisition of Time Warner, and plans to avoid incurring additional debt by abstaining from major acquisitions during that three-year period.The company's efforts to scale down its debt could also lead it to sell off additional assets, like non-core businesses or cell towers. In October 2019, amid pressure from investors, AT&amp;T <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L2dvb2dsZS1sb29rcy10by1sYXVuY2gtNWctdmVyc2lvbi1vZi1waXhlbC1zbWFydHBob25lLWZhY2Vib29rLWFkZHMtZW50ZXJwcmlzZS1mZWF0dXJlcy10by1wb3J0YWwtYXR0LXNlbGxzLW9mZi1wdWVydG8tcmljby1vcGVyYXRpb25zLTIwMTktMTA/5d233c18f730436f2414784fB8f918e0d" target="_blank" rel="noopener">sold off</a> its business in Puerto Rico and the US Virgin Islands to pay down some of its debt; later that month the company <a href="https://e.businessinsider.com/click/19300262.4/aHR0cHM6Ly9hYm91dC5hdHQuY29tL3N0b3J5LzIwMTkvYXR0X3BlcHBlcnRyZWVfY2FwaXRhbC5odG1s/5d233c18f730436f2414784fB208fd71b" target="_blank" rel="noopener">sold</a> over 1,000 cell towers to monetize non-strategic assets as part of its debt reduction effort. Focusing on debt reduction will limit AT&amp;T's flexibility to make strategic purchases or investments, meaning the company could be receptive to partnerships that would split the cost of continuing to grow.Want to read more stories like this one? Here's how to get access: <ol><li>Sign up for Connectivity &amp; Tech Pro, Business Insider Intelligence's expert product suite keeping you up-to-date on the people, technologies, trends, and companies shaping the future of connectivity, delivered to your inbox 6x a week. &gt;&gt; <a href="https://store.businessinsider.com/products/connectivity-tech-pro-membership?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=get_started_text&amp;itm_term=bii_briefing_text_link-att-sets-future-course-after-q4-earnings-2020-1&amp;vertical=connectivity-and-tech">Get Started</a></li><li>Check to see if you already have access to Business Insider Intelligence through your company, or inquire about access if you don't. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/corporate-check?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=learn_more_text&amp;itm_term=enterprise_text_link-att-sets-future-course-after-q4-earnings-2020-1">Check If You Have Enterprise Access</a></li><li>Explore related topics in more depth. &gt;&gt; <a href="https://store.businessinsider.com/collections/connectivity-tech?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=learn_more_text&amp;itm_term=enterprise_text_link-att-sets-future-course-after-q4-earnings-2020-1">Visit Our Report Store</a></li><li>Current subscribers can log in to read the briefing <a href="https://intelligence.businessinsider.com/post/att-sets-its-future-course-after-q4-earnings-what-apple-missed-during-its-q1-earnings-call-chinas-smartphone-shipments-continue-historic-slide-2020-1">here.</a></li></ol><a href="https://www.businessinsider.com/intelligence/connectivity-and-tech-pro?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=5g&amp;itm_campaign=connectivity-and-tech-pro-2"></a>

AT&T plans to intertwine its media and connectivity businesses after mediocre Q4 2019 earnings

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Google appears to be planning&#xa0;to test its Project Loon internet balloons across the entire US, according to <a href="https://apps.fcc.gov/els/GetAtt.html?id=169705&amp;x=.">recent documents filed with the FCC</a>.The company&#xa0;has asked the Federal Communications Commission for a license to test experimental radios that use wireless spectrum in the millimeter bandwidth in all 50 states and Puerto Rico. Google said it wants to begin the tests on January 1 for a period of 24 months.The testing could indicate that Google is broadening its ambitions for providing consumers with internet access through the special balloons developed in its secretive X Labs.Project Loon is Google's plan&#xa0;to operate&#xa0;a fleet of solar-powered balloons - flying at an altitude of 60,000 to 90,000 feet - that are capable of beaming internet access down to the earth. Google has described the project as a way to bring internet access to people in developing economies and regions of the world that lack communications infrastructure.In October, Google announced plans to conduct a countrywide test of&#xa0;<a href="http://www.theverge.com/2015/10/28/9631728/alphabet-google-project-loon-indonesia-wifi-internet-access">Loon in Indonesia next year</a>, in partnership with some of the country's largest telecom companies.Google has previously said that it believes Loon's&#xa0;"floating cell towers in the sky" could one day become a business that <a href="http://www.businessinsider.com/google-project-loon-will-be-a-10-billion-business-2015-3">generates billions of dollars in revenue</a>.But given the project's focus on serving underdeveloped regions of the world, it's not clear why Google would want to test Loon across all of the US. The testing could simply be a way for Google to perfect the technology before rolling it out to other parts of the world, or it could signal that Google believes the balloons could be useful closer to home.Google is also developing drones capable of delivering internet access and plans to conduct <a href="http://www.businessinsider.com/google-testing-airborne-technology-at-spaceport-america-2015-11">air-to-ground communications tests at the Spaceport America</a> facility in New Mexico and on a Native American reservation in Oregon. Google rival Facebook is also <a href="http://www.businessinsider.com/facebook-2015-11">testing drones and satellites</a> capable of delivering internet access.<h2>All roads lead to Winnemucca</h2>Google's latest FCC filings are heavily redacted and don't mention Loon by name. But they contain a couple of clues that suggest that Google's plan to test the experimental radio transmitters across the US next year involve its Loon balloons.The name of the applicant on the filing is Astro Teller, Google's so-called Captain of Moonshots, who oversees the Google X Labs that is working on Loon as well as projects such as self-driving cars and drones.More tellingly, the filing notes that Google's latest request for an&#xa0;experimental license is for continued development of previous tests, in which the company also acquired&#xa0;experimental licenses from the FCC. According to the previous filings that Google references, those tests were conducted in Winnemucca, Nevada.Winnemucca is a remote town of roughly 7,000 in Nevada, and its attractions include a small brothel district known as "The&#xa0;Line" and an annual Basque festival, <a href="https://en.wikipedia.org/wiki/Winnemucca,_Nevada">according to Wikipedia</a>. But in August 2014, one month before Google's first FCC request for a license to test in Winnemucca, the published minutes of the <a href="http://www.winnemuccacity.org/CityClerk/Minutes/Minutes%20080514%20FINAL1.pdf">Winnemucca City Council contain a proposal</a> to let Google use&#xa0;its airport industrial park as a "temporary balloon launching facility."The most recent Google FCC filings indicated that Google wants to use frequencies in the 71 GHz to 76 GHz range and in the 81 GHz to 86 GHz range. These so-called&#xa0;millimeter wave frequencies&#xa0;are ideal for transmitting large amounts of data, although they work best over short distances. That suggests that Google may be&#xa0;using the millimeter wave radios for balloon-to-balloon communications while using LTE technology to beam the actual internet service back down to Earth.We've reached out to Google and will update the story if we hear back.Here's a video of Project Loon balloons in action:<div></div>

Google is about to test something secretive across all of the US - and it sounds exactly like its Project Loon balloons

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Tom NaratilTom Naratil.</div></div></div><ul class="summary-list"><li>Tom Naratil is co-president of UBS Global Wealth Management and president of UBS Americas.</li><li>In this op-ed, he says if the US doesn't invest in next-generation infrastructure, the well-being of our citizens is at risk.</li><li>These investments promote industries of the future and are necessary to ensuring our long-term economic viability. </li></ul>For many, the term "infrastructure" elicits images of decaying bridges, outdated transit systems, and vulnerable power grids - for good reason. Most of our decades-old physical infrastructure is in need of massive, overdue attention. But as the recent Mobile World Congress demonstrated, the introduction of exciting next-generation technologies means that we must also invest in systems that will propel a modern economy, while simultaneously repairing the bricks-and-mortar infrastructure of the past.As we saw in the headlines out of Barcelona last week, 5G, AI-enabled connected homes, and smart energy grids are now closer to reality. But these tools will be virtually useless without modernized telecommunications and energy infrastructure. And if we don't continue to innovate and invest both public and private capital, future economic growth and the well-being of US citizens are at risk.There's reason to be hopeful, though: First, the private sector overwhelmingly supports public infrastructure investment; and second, it's willing to put its money to work alongside the government. A recent UBS poll found 90 percent of high net worth investors and 83 percent of small business owners agree government should spend more time and money on improving infrastructure. Roughly one-third of business owners told us they would invest more in their business and 26 percent would expand their business into new markets if Congress passed an infrastructure package, creating jobs and stimulating the economy. These investments promote industries of the future while improving the environment, which is necessary to ensuring our long-term economic viability. Small business owners and high net worth investors agree: 81 percent of both groups believe infrastructure investments are the key to long-term economic growth. Take AI as an example: the World Economic Forum expects machines and algorithms in the workplace to generate 58 million net new jobs by 2022. Yet our existing infrastructure is unprepared to support this. The FCC found that US broadband speeds are ranked tenth among developed nations and individuals pay an average $58 per month for broadband, "among the worst in the developed world." Again, small business owners and high net worth investors are advocates: 45 percent of the former and 44 percent of the latter believe it's very important that widespread access to high-speed internet be a focus of infrastructure improvements. Without this access, poorer residents of rural areas and tribal lands will fall further behind in educational opportunities and income.Or look at the potential for clean energy. The International Renewable Energy Agency estimates that the decarbonization of the global energy system can create up to 28 million jobs by 2050. These jobs will require state-of-the-art energy infrastructure to flourish. That's why 65% of high net worth investors and 61% of business owners want utilities to be a focus of infrastructure improvements.Even more encouraging, private investors want to actively participate in infrastructure investment. More than half of investors we polled want the government to encourage more private sector involvement in infrastructure. Private capital and public-private partnerships must be incentivized in several new ways: cutting red tape by mandating an accelerated review process for projects of "national significance"; expanding tax-advantaged investments like private activity bonds; eliminating restrictions on the use of proceeds from the privatization of public assets; and creating a National Infrastructure Fund for major projects, among many other steps.Importantly, we must also ensure the benefits of these investments are felt as widely as possible. Initiatives like Opportunity Zones (OZs), economically-distressed communities where new investments may be eligible for preferential tax treatment, are a step in the right direction. OZs could establish a powerful incentive for significant long-term private investment in these communities, which are home to 35 million Americans. Organizations like the Economic Innovation Group estimate the potential capital eligible for reinvestment in OZs could total as much as $6.1 trillion. However, before significant capital can flow into OZs, the Treasury Department must first clarify a number of key issues, including the role that multi-asset funds can play and minimum impact reporting requirements. There's little debate that spending is desperately needed to modernize our existing infrastructure and to lay the foundation for a robust economy of the future in which all Americans can participate. Our recent survey revealed widespread belief that US infrastructure is falling behind other countries and that economic growth will slow if Congress doesn't pass a new infrastructure bill. Popular support persists and the investment dollars are waiting to participate. Now is the time for the private sector, Administration, Congress and state leaders to come together to reinvest in our country's future. Our continued economic expansion and competitiveness depend on it.Tom Naratil is co-president of UBS Global Wealth Management and president of UBS Americas. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/best-9-things-to-do-in-puerto-rico-2019-1">Puerto Rico was named the No. 1 place to travel this year. Here are 9 of the best ways to see the island</a></h3> <div> </div> </div>

UBS Global Wealth Management president says the future of US citizens is at risk if we don't repair decaying bridges and outdated transit systems

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Google told federal regulators that its plan to conduct airborne wireless tests across the US, likely related to&#xa0;its Project Loon balloons, does not pose any health or environmental risks.In a&#xa0;<a href="https://apps.fcc.gov/els/GetAtt.html?id=171957&amp;x=.">filing with the&#xa0;Federal Communications Commission (FCC) on Tuesday</a>, Google said that its planned testing of experimental radio transmitters at altitudes of 75,000 feet, as well as terrestrial transmitters, fits within existing rules and is basically harmless.&#xa0;"The proposed experimental operations in fact present vastly less risk from RF exposure than other transmissions the Commission routinely authorizes. Thus, although we respect that the commenters' concerns are genuinely held, there is no factual basis for them," Google wrote in the filing.The filing&#xa0;was in response to <a href="https://apps.fcc.gov/oetcf/els/reports/ViewExhibitReport.cfm?id_file_num=0747-EX-PL-2015&amp;application_seq=68637">dozens of informal objections</a> submitted&#xa0;to the FCC about the planned tests, <a href="http://www.businessinsider.com/google-appears-set-to-test-loon-across-all-50-us-states-2015-11">after Business Insider wrote about Google's test plans&#xa0;in November</a>. Many of the objections raised concerns about the potential radiation risk of the airborne experiment. Some companies also objected that Google's plans could cause interference with their own wireless operations.Google has asked the Federal Communications Commission for a license to test experimental radios that use wireless spectrum in the millimeter bandwidth in all 50 states and Puerto Rico. Google said in the heavily redacted filing that it wants to begin the tests this year for a period of 24 months.<h2>The Loon clues</h2>Google's initial application and Tuesday's letter does not specifically mention Project Loon, the fleet of solar-powered balloons&#xa0;- flying at an altitude of 60,000 to 90,000 feet -&#xa0;that Google is developing to beam internet access down to earth.But several clues in the original filing, which calls for airborne operations of radio transmitters at a maximum altitude of 75,459 feet, make it likely that the test is related to&#xa0;Loon.The name of the applicant on the filing is Astro Teller, Google's so-called Captain of Moonshots, who oversees the Google X Labs that is working on Loon - as well as projects such as self-driving cars and drones.&#xa0;And Google notes that the test is an expansion of earlier tests in <a href="http://www.businessinsider.com/google-appears-set-to-test-loon-across-all-50-us-states-2015-11">Winnemucca, Nevada, which Business Insider has reported was among the early sites for Google's Loon experiments</a>.The broad US tests would appear to mark a significant expansion of Google's ambitions for Loon.Google has previously said that it believes Loon's&#xa0;"floating cell towers in the sky" could one day become a business that <a href="http://www.businessinsider.com/google-project-loon-will-be-a-10-billion-business-2015-3">generates billions of dollars in revenue</a>. But until now, Google has primarily spoken of Loon as an effort focused primarily on&#xa0;developing parts of the world that lack adequate communications&#xa0;infrastructure.We've reached out to Google and will update if we hear back.Here's a video of Google's Project Loon balloons in action:<div></div><div id="categorypromo" style="border:1px solid silver; min-height:114px; padding:4px;"><a href="http://www.businessinsider.com/intelligence/research-store?IR=T&amp;utm_source=House&amp;utm_term=CtgrPr-Drones&amp;utm_campaign=CtgrPr#!/THE-DRONES-REPORT/p/47962272/category=11987294"></a> Get THE DRONES REPORT now! Commercial drones are already a reality. BI Intelligence takes an in-depth look at the most important aspects, including market forecasts for commercial applications, regulatory process, and the leading players. <a href="http://www.businessinsider.com/intelligence/research-store?IR=T&amp;utm_source=House&amp;utm_term=CtgrPr-Drones&amp;utm_campaign=CtgrPr#!/THE-DRONES-REPORT/p/47962272/category=11987294">Get the Report Here »</a></div>

Google tells feds its secret plan to conduct high-altitude wireless tests across the US is not dangerous

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersTraders work on the floor of the NYSE </div></div></div>Via Dave Lutz at JonesTrading, here's a super quick guide to what traders are talking about right now:Good Morning, and Happy Friday! US Futures are off small, as profit-taking weighs after a solid week in the equity markets and Crude falls 2.5% as Doha expectations are watered down. The Euro markets are all under pressure. With the DAX off 60bp as Energy and Consumer Discretionary weigh, slightly offset by a continued rebound in the Staples. Miners in London are pulling back as Copper falls, and those Fins are seeing some pressure - Volumes across the continent are pacing average. Asia stocks lower for 1st time in 8days, as China posted its weakest growth in seven years, but Industrial output, fixed-asset investment and retail sales all rise more than expected, causing a slight pullback in Shanghai. The Nikkei retreated 40bp, but still posts its best week in 2months, while Aussie gained 80bp, capping its best week in 6 months. The DXY is under pressure, with Euro approaching yesterday 1.13 peak, and Asian currencies see some upward Mojo. The Yen is popping FAST, driving the $/Y under 1.09 and testing yesterday's floor, while the Australian dollar touched a new nine-month high overnight. Bund and Treasury yields are falling as JGB 10's had a record low close under -11bp. Commodities are mostly weaker tho, with Copper off 1% as it digests its biggest weekly gain in over a month - while Gold is enjoying the tailwinds of that $ drop, climbing 50bp. Oil under pressure into Doha on Sunday - WTI still up 2% for the week. CFTC data at 3:30 to see what those shorts have done. Refined products in the USA are looking quite heavy tho, with Gasoline dropping 3% early. Ahead of us today, we have US Industrial Production at 9:15, followed by U. of Mich. Sentiment at 10. Fed's Evans, the biggest FOMC Dove (but non-voter) speaks on Economy and Policy in Washington at 12:30, just before that Baker Hughes Rig Count at 1. We get the CFTC "Commitment of Traders" data at 3:30. Down in Washington, Speaker Ryan convenes House GOP meeting on Puerto Rico debt crisis - while the full house meets at 9am, set to consider a bill that would prevent FCC from establishing or reviewing the reasonableness of the amount charged for delivery of broadband Internet service. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/clinton-scolds-sanders-laughing-debate-gun-control-2016-4">'It's not a laughing matter': Clinton scolds Sanders for laughing during an exchange on gun control</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="10anZ0MjE6JqAEUdKKwuJ4NMo8Qei9DD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "FCC Rico" and got 11 results

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UBS Global Wealth Management president says the future of US citizens is at risk if we don't repair decaying bridges and outdated transit systems

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Here's a super quick guide to what traders are talking about right now

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