Higher quarterly profit on wireless sales by Verizon Communications Inc were posted, but due to falling land lines because of growth in its FiOS television subscribers missed some estimates, it is under worry.

To encourage its home phone business and compete with cable companies, FiOS is main part of Verizon’s strategy as FiOS is an advanced high-speed Internet and video service.

In the course of a weak economy company’s enormous investment in FiOS was failing to result a loss in conventional phone subscribers as per some analysts.

Compared to last year residential switched access lines drop 11.4 percent in the second quarter, where total lines fell 8.5 percent as stated by Verizon on Monday.

According to analysts lose rate of access line is worst in the history and this rate is of great worry. FiOS TV customers’ total reached about1.4 million after Verizon added 176,000 new FiOS in the quarter.

According to Verizon the costs of acquiring subscribers fell as well as FiOS growth slowed after a sponsorship giving free flat-screen TVs to new customers ended.

Despite of this Verizon’s wireless profits were high and it declared the profit margin above the expectations 45.6 percent. Analysts expected margin of 44.9 percent only. Along with this second quarter profit also rose to 66 cents which was 58 cents last yea

The second largest US telecommunications group, Verizon Communications introduced its FiOS video service based on on Monday in New York City fibre-optic indicating the stage of geat compitition battle with strong cable network operators, Time Warner Cable and Cablevision.

with help of continued strong performance of its Verizon Wireless joint venture with Britain’s Vodafone group Verizon annonced strong second quarter earnings, will now offer in starting FiOS in 108 New York neighbourhoods with ‘triple play’ voice, video and data packages starting at $95.

The new emerging telecome operator plan to introduce voice, data and video service to 500,000 New York City homes by the end of this year and afterwords expantion of service area to near about 3m businesses and homes within few years is on its expantion chart.

Since last year when the service was launched by Verizon which has collected nearly 1.4m FiOS Video subscribers across the US, now trying to discriminate its video service by offering more high-definition channels as compared to its cable rivals. In its initial time in New York it is offering 100HD channels.

AT&T, the largest US telecoms operator by reporting its second quarter earnings last week, show that US cable TV network operators are still more successful signing up new broadband and triple-play subscribers, however there is around 53 prcent rise in Verizon broadband and video revenues. Verizon also facing fall in residential fixed line customers.Verizon also agreed to purchase a regional US wireless operator Alltel.

In Mexico, Infosys Indian IT services giant has boarded on a two year growth plan according to the company’s head of new markets and services.

In August last year Infosys release the Mexico unit in the city of Monterrey spotting its first direct operation in Latin America. Both existing global clients as well as regional clients are provided with IT and BPO services by facility.

According to internals of company it is believed that this will be one of there fastest growing subsidiaries as this company has goodwill and strong position and force in the market and it is planning to extend its business operations appreciably in Mexico

Infosys has previously said it aims to have 1,000 employees across Mexico by mid-2010 and now it is having 150 employees in Monterrey facility. That is signing increased service opportunities.

There are not much details for the fields in which it will look for new appointments but an executive said the company will focus on application development and maintenance services, while also introducing services such as ERP Implementation and support, core banking product implementation, and infrastructure services.

To gain a strong grip in the market Infosys will also be working to establish niche association with Latin American companies, also it planned to invest in sales and branding services.

Infosys decided Mexico for its expansion plans as it is near to the US, NAFTA trade regulations, and the government’s support to IT investment. Infosys is contemplating the start of operations in other parts of the region, but will not make a definitive decision until the Mexico expansion is complete.

The whole world seems to be switching over to cell phones. The global mobile phone industry has recorded phenomenal growth in recent times, racing ahead of the information technology as well as the pharmaceutical sectors. However, repeated warnings about the possible relation between electromagnetic radiation from cell phones and a cancer risk have raised some uncomfortable questions.

When in use mobile phones emit electromagnetic radiation which some scientists believe might harm the brain tissues and even pose a threat of cancer. The risk is considered especially high in certain groups of population like children. Recently, the head of a top cancer research institute from Pittsburgh, Dr. Ronald Herberman issued a memo to his staff asking them to limit the use of mobile phones to a minimum. He however, admitted that the steps recommended by him were “precautionary”.

According to a study done by Portio Research, global sales of mobile phones is set to touch US$I trillion by the end of the year 2008. The voices of concern raised from the scientific establishment are not yet backed by hard proof and are unlikely to cause a dent in worldwide mobile sales. However the fact that doubts about its safety are being raised warrants further, unbiased studies about any possible relation between use of cell phones and any health danger.

-Kalyani Mookherji

The economic slowdown in the US has led to large number of women retreating from the workforce. What is most surprising is that a large portion of these women are in their prime working years, from 25 to 54. Loss of jobs and lack of growth opportunities in a stagnant economy have compelled large numbers of women to disappear either permanently or for the time being from the labor force.

Statistics brought out by the Bureau of Labor reveal that for the first time since the women’s emancipation movement in the 1960s, the percentage of women in paid employment has fallen. Initially the trend was thought to be the result of a matter of choice – women staying at home perhaps because their husbands were earning well. However now it has become clear that pay cuts, lay offs, outsourcing, frozen wages and similar woes of a stagnant economy are forcing women to exit the work force.

A report in the NYT News Service puts the percentage of women in their prime years holding jobs at 74.9% in early 2000. at present the corresponding figure has come down to 72.7% which signifies a loss of 4 million women in the work force, had the earlier rate of growth prevailed. The trend indicates that women are now leaving for the same reason as their male counterparts and with the same uniformity.

-Kalyani Mookherji

US presidential candidates Barak Obama and John McCain have turned the spotlight away from Iraq and foreign policy to focus on the economy back home. Some of the major issues expected to crop up in the election campaigns are the matter of raising taxes, dealing with increased job cuts across the economy and facing the challenge of rising oil prices.

John McCain the Republican candidate is expected to take a strong stand on America’s need for independence from Middle Eastern sources of oil. However his turnaround on the issue of raising taxes to reform the Social Security system has not gone down well with many voters. Opponents of tax increase are disappointed in his declaration to keep all options open in order to revamp the pension system which is reported to be fast running out of funds.

Barak Obama has already declared his intention of extending payroll taxes which at present apply to first income of $102,000. The Democratic candidate also intends to levy the tax on income of more than $250,000. Obama who is already back from his high-profile foreign tour now intends to meet with economic heavyweights like Warren Buffet, Robert Rubin and Paul Volcker. Reeling from continued job losses, shrinking credit and depressing home sales, the US economy is bound to feature prominently in the hectic campaigning preceding the presidential elections.

-Kalyani Mookherji

China’s increasing dominance in the internet market has brought in another US company on the threshold of the world’s most populous state. In a series of online videos playing on its website, Wi-Fi TV Inc announced plans to expand its operations into China. This comes on the heels of a report brought out by the China Network Information Center which claimed that China has surpassed United States to become the largest internet market in the world.

Wi-Fi TV webcasts continue to outline the company’s plans to seek a share of the lucrative Chinese market. These include relocation of its US servers, introduction of servers to China as well as plans for putting up the company’s website in Chinese language. Other than these, Wi-Fi TV Inc intends to take the help of top content distribution providers in China in order to smoothen their entry into the foreign market.

The findings of the report by China Network Information Center put the number of Internet users in the country at an overwhelming 253 million at the end of June 2008. This means that at least 43 million web users were added in the first six months alone. The report puts US in second place with 230 million internet users at the close of June 2008.

-Kalyani Mookherji

Elvis, “The King” Presley remains one of the biggest musical icons of American culture even more than 30 years after his death. Matching his legendary status is the lucrative Elvis brand which earns around US$42 million a year, trailing only slightly behind Kurt Cobain whose music records and memorabilia stood at US$50 million in 2006.

Elvis Presley gave the world many unforgettable hits some of which are ‘Jailhouse Rock’, ‘Love Me Tender’, ‘Heartbreak Hotel’ and ‘Hound Dog’. He also acted in several movies but suffered from careless finances which were compounded by his uber lavish lifestyle, extravagance to friends as well as poor financial advice. At the time of his death, his estate in Memphis called Graceland, stood at US$4.9 million.

After Presley died, his widow Priscilla showed greater business acumen by throwing Graceland open to tourists and setting up the Elvis Presley Enterprises. Today the entire portfolio of businesses centered on Presley is considered to be worth around US$600 million. This includes earnings from the estate as well as from the sale of his records and memorabilia. Priscilla continues to be the director of CKX, the company which holds 85% stake in Graceland, and remains actively involved in upgrading the attractions of the Elvis brand.

-Kalyani Mookherji

One of the biggest nightmares of a credit card account holder is to find that some unauthorized person has been using the card and stealing money. The US Federal Trade Commission estimates that every year thousands of millions of dollars are lost in card and identity thefts. The offender might not even physically steal the card but use the card number in order to commit theft or forgery.

Some tips handed out by the Commission can go a long way in minimizing the risk of credit card and charge frauds suffered by card holders. One must sign the card as soon as it arrives and never carry it in a wallet from where it is easy to get stolen. All receipts must be saved in order to compare with billing statements while incorrect receipts and carbons are to be destroyed. Again, it always helps to be prompt in opening bills and settling accounts with credit card companies.

The most important thing to avoid is to make one’s card or account number public. This includes lending the card to anyone as well as leaving receipts and cards lying about. If the account number must be communicated over the phone, the holder should make sure it is a trustworthy company he is dealing with.

Finally, one should report loss of a card as soon as possible to the card issuing company. This will prevent the holder from bearing any unauthorized charges which may result due to theft or misplacement of the card. In any case, the federal law fixes the amount of maximum liability of the card holder to $50.

-Kalyani Mookherji

Hopes for an economic revival took a further hit in the US with news of troubled times in the banking sector. The latest bank to have collapsed is the IndyMac Bancorp, sending its depositors scurrying to get back their money. Even as other banks go into a customer-reassurance drive, it s seems unlikely that the public’s concerns about the safety of their deposits would die easily.

In the aftermath of the IndyMac’s collapse and the ensuing chaos, some and financial institutions have taken active measures to bolster the confidence of its depositors. They have asked tellers to reassure customers that their money is well-protected and have even come down heavily on those engaging in speculation about impending failure. Recently BankAtlantic, a regional bank based in Florida, sued an analyst for predicting that BankAtlantic Bancorp could also go the IndyMac way.

Along with banks, officials from the Federal Deposit Insurance Corp have also sought to clear the air of confusion. They insist that depositors have nothing to fear since there is federal guarantee behind every deposit up to $100,000 even in case of a bank collapse. However lack of correct information among bank customers and absence of transparency in the method of identifying shaky banks have repeatedly raised concerns among the general public.

-Kalyani Mookherji