DIRS.INFO The most relevant business & tech news

☆ Affordable internet gave Native Americans a way to preserve community and culture. Now it’s another broken promise
▼ + stars: | 2024-05-01 | by ( Brian Fung | ) edition.cnn.com time to read: +12 min

Within weeks, the two-year-old US Affordable Connectivity Program (ACP) is set to run out of funds, and Congress appears unlikely to authorize more. Even as many older and rural Americans may be thrust into financial hardship due to the ACP’s collapse, indigenous communities could fare even worse. Because tribal members can now work remotely, they are no longer forced to move away from their communities to seek opportunity, they told CNN. For example, Mitchell said, after decades of decline in Mohawk fluency, a growing number of tribal members are now involved in online language immersion. (AP Photo/Seth Wenig) Seth Wenig/AP/FileInstead, some say, the collapse of the ACP will become another stain on the US government’s centuries-long track record of breaking promises to tribal communities.

Persons: Kelly, ”, “, “ That’s, ” Kelly, Mike Johnson, Pennsylvania Democratic Sen, John Fetterman, Fetterman’s, Jonathan Nez, “ I’ve, Loren King, Geoffrey Starks, ” Starks, Allyson Mitchell, Mitchell, Nez, ” Nez, Derrick VanSoolen’s, Choctaw, ” VanSoolen, they’re, Bois, Randy Long, Gary Johnson, Paul, Seth Wenig, I’ll Organizations: Washington CNN, Mohawk, CNN, Connectivity Program, FCC, Pennsylvania Democratic, Federal Communications Commission, Treasury, US Federal Communications Commission, Mohawk Networks, Navajo, ACP, Emergency, Program, Choctaw Nation, Bois Forte, Paul Bunyan Communications Locations: St, Lawrence, New York, Canadian, Mohawk, America, Navajo, Oklahoma, Oklahoma , Arizona, New Mexico, Alaska, South Dakota, Arizona, Minnesota, Regis

☆ Interest rates: It’s a mystery when the Fed will begin to cut them
▼ + stars: | 2024-04-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Nowadays, it’s anyone’s guess when the Federal Reserve will begin to cut interest rates this year — if at all. Fed officials are meeting this week, starting Tuesday, to discuss rates and set policy. That guidance will be key for market observers who clearly have divergent views on interest rates. Forecasts from major Wall Street banks on the first rate cut are all over the place: JPMorgan and Goldman Sachs expect the first cut in July, while Wells Fargo is betting on September. Some Fed policymakers, meanwhile, have even floated the possibility of a rate hike, instead of a cut.

Persons: Goldman Sachs, Wall, Liz Ann Sonders, Charles Schwab, Jerome Powell, “, ” Kathleen Grace, John Towfighi, That’s, nearshoring, Alberto Ramos, Ramos, Morgan Stanley, Read, Cindy Westman, —, Brian Fung, Jason Carroll, I’ll, ”, Westman, ’, Westman — Organizations: CNN Business, Bell, Washington CNN, Federal Reserve, JPMorgan, Bank of America, CNN, Labor Department, Manufacturing, Commerce Department, Program, Social Locations: Washington, Wells, Mexico, —, China, United States, Eureka , Illinois

☆ ‘Should have been done yesterday’: Rural, older Americans could get hurt as affordable internet program runs out of cash
▼ + stars: | 2024-04-29 | by ( Brian Fung | Jason Carroll | ) edition.cnn.com time to read: +14 min

But in just a few weeks, her internet bills, and those of other Americans like her, could skyrocket by hundreds of dollars a year. The program is heavily used by Americans over age 50, military veterans and low-income working families nationwide, according to FCC data. Amira Karaoud/Reuters/FileRural and older usersThe ACP has quickly gained adoption since Congress created the program in the 2021 bipartisan infrastructure law. Large swaths of the ACP’s user base trend older; Americans over 65 account for almost 20% of the program. The FCC’s Lifeline program, which dates to the Reagan administration, similarly gives low-income households a monthly discount on phone or internet service.

Persons: Cindy Westman, —, I’ll, ”, Westman, ’, Westman —, Gigi Sohn, “, Biden, Allison Bailey /, Cynthia George, George, ” George, Marc Veasey, They’re, Geoffrey Starks, “ It’s, ” Starks, Amira Karaoud, Walter Durham, I’m, ” Durham, Michelle McDonough, McDonough, she’ll, doesn’t, “ I’m, ” McDonough, Kamesha Scott, Louis, Megan Janicki, ” Janicki, Reagan, Mike Johnson, Blair Levin, Johnson didn’t, Levin, Jonathan Blaine, ” Blaine, they’re Organizations: CNN, Program, Social, Federal Communications Commission, FCC, Capitol, Getty, MSN, White, ” Texas Democratic, “, Comcast, ACP, Navy, American Library Association, Lifeline, Republicans, Republican, New, Research, ” Bills Locations: Eureka , Illinois, America, Dallas, Las Vegas, Kentucky, San Diego, United States, Maine, St, Vermont

☆ Internet price hikes for low-income Americans could begin in May as federal funds run dry, FCC says
▼ + stars: | 2024-04-10 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Due to lack of funds, April will be the final month the ACP can provide full benefits, the FCC said Tuesday. Next month, ACP subscribers can expect to receive only 46% of their usual benefit, the FCC said. After that, program subscribers may have to pay hundreds of dollars more per year to stay online, or could potentially have to give up internet service entirely. Many ACP subscribers have told CNN that without help, they could have to choose between paying for internet and putting food on the table. CNN is reaching out to major internet providers for comment on the FCC’s call for those voluntary measures.

Persons: Biden, Mike Johnson, Chuck Schumer, Ohio Democratic Sen, Sherrod Brown, Kansas Republican Sen, Roger Marshall, “ Organizations: CNN, Federal Communications Commission, FCC, ACP, Ohio Democratic, Kansas Republican, Senate Locations: Congress

☆ FCC rolls out mandatory ‘nutrition labels’ for internet providers’ plans
▼ + stars: | 2024-04-10 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

Consumer broadband labels will be required for internet providers starting on Wednesday — in many cases in both English and Spanish. Known as “consumer broadband labels,” the FCC-mandated disclosures must be offered at the point of sale both online and in stores — and in many cases, in both English and Spanish. In 2016, an FCC advisory committee first released a version of the disclosures that providers were not required to adopt. Then, under the 2021 bipartisan infrastructure law, the FCC moved to implement mandatory broadband disclosure labels and held a lengthy process to design and finalize them. Because providers will be required to prominently display the labels, FCC officials will be monitoring for evidence or consumer complaints about non-compliance, which could lead to agency investigations or fines.

Persons: ” Alejandro Roark, Roark, “ We’re, ” Organizations: CNN, Federal Communications Commission, White, Consumer, FCC, Biden, Comcast, Verizon, AT Locations: —

☆ Biden administration points finger at Republicans for internet bill hikes
▼ + stars: | 2024-04-02 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

“President [Joe] Biden has been calling on Congress to pass legislation that would extend the benefit through 2024. “But unfortunately, Republicans in Congress have failed to act.”Biden has called on Congress to approve $6 billion to continue the ACP. A bill introduced in January by a bipartisan group of lawmakers in the House and Senate would authorize $7 billion. That legislation has 216 co-sponsors in the House, including 21 Republicans, and three in the Senate, including two Republicans. Administration officials declined to say whether Biden or Vice President Kamala Harris have personally discussed the ACP with congressional Republicans.

Persons: Biden, Joe, ”, ” Biden, Mike Johnson, Blair Levin, ” Levin, Republican Sens, J.D, Vance of Ohio, Kevin Cramer of North, Spokespeople, Johnson, Chuck Schumer didn’t, Kamala Harris, Jessica Rosenworcel, ” Rosenworcel, Rosenworcel, Sen, Maria Cantwell Organizations: CNN, Republicans, Program, Federal Communications Commission, GOP, Democratic, Congress, Republican, New, Research, Administration, ACP, Commerce, Science, Transportation Locations: Kevin Cramer of North Dakota

☆ Premarket stocks: Rate cut in June or July? What matters is the Fed wants to get started
▼ + stars: | 2024-03-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

[About 70% of investors now think a rate cut will occur in June, according to the CME FedWatch tool.] Goldman Sachs is currently predicting a 15% chance of recession over the next 12 months, down from 35% last year. Seeing that happen made us more confident that the Fed wouldn’t be forced to cause a recession in order to get inflation down. The reason we say 15% risk is because that is roughly the historical unconditional average. So a 15% recession rate is baseline for you, it will never go below that number?

Persons: Dow, Bell, David Mericle, Goldman Sachs, It’s, it’s, we’ve, I’m, Samantha Delouya, authority’s, ” United, Joe Biden Organizations: New, New York CNN, Federal Reserve, Dow Jones, Goldman Sachs ’, Bell, National Bureau of Economic, FAA, United, Federal Aviation Administration, United Airlines, United Boeing, ”, Federal Communications Commission, Program, Lawmakers, ACP, FCC Locations: New York, We’re, Medford , Oregon

☆ The US government is running out of funding for a program that could cut internet access for millions of Americans
▼ + stars: | 2024-03-24 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Read previewMillions of Americans risk their internet access being disrupted if a critical government program runs out of funding next month. The Affordable Connectivity Program has been helping low-income households access the internet since the Federal Communications Commission launched it in 2021. Once the program ends, some ACP subscribers say they'll need to work more just to stay online. AdvertisementAccording to the outlet, ACP recipients are about 15% of Siyeh Communications' customer base, or about 2,000 subscribers in the Blackfeet reservation. The FCC, Sohn, Siyeh Communications, and the White House did not immediately respond to a request for comment from BI.

Persons: —, Gigi Sohn, Kamesha Scott —, Louis, I'm, Brian DeMarco, Sohn Organizations: Service, Federal Communications Commission, FCC, Business, Biden, Comcast, Benenson, CNN, Independents, Siyeh Communications, Fierce Telecom, White Locations: St, Montana

☆ ACP, a digital lifeline for millions of Americans, is in jeopardy. Here’s why
▼ + stars: | 2024-03-23 | by ( Brian Fung | ) edition.cnn.com time to read: +13 min

Cynthia George is one of millions of Americans in jeopardy of losing their home internet access. Yet Congress is nowhere close to approving the $6 billion that President Joe Biden says would renew the ACP and avert calamity for tens of millions of Americans. Courtesy Michelle McDonoughLike George, McDonough also expects she’ll have to cut back on groceries if the ACP goes away. The FCC’s Lifeline program, which dates to the Reagan administration, similarly gives low-income households a monthly discount on phone or internet service. “You’re taking ACP away from the farmers that can check the local produce prices and be able to reasonably negotiate their prices with retailers.

Persons: Cynthia George, Cynthia George George, Joe Biden, Pedro Ugarte, ”, Gigi Sohn, “, George, ” George, Michelle McDonough, McDonough, she’ll, doesn’t, “ I’m, ” McDonough, Mandel Ngan, Gary Johnson, Paul, —, Kamesha Scott, Louis, Scott, Megan Janicki, ” Janicki, Reagan, Biden, ” Blair Levin, Bill Clark, Levin, Jonathan Blaine, ” Blaine, Blaine Organizations: Washington CNN, MSN, Federal Communications Commission, Program, Lawmakers, ACP, FCC, Getty, CNN, ”, White, Comcast, George, Congress, Paul Bunyan Communications, American Library Association, Lifeline, House Republicans, New, Research, Republican, ” Lawmakers Locations: Washington ,, AFP, United States, Maine, Washington , DC, Minnesota, St, “, Lake Havasu City, Ariz, Vermont

☆ FCC cracks down on cable TV ‘junk fees’
▼ + stars: | 2024-03-14 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

The new junk fees rule requires cable and satellite TV companies to list “all-in” prices to consumers in their billing and marketing materials — including any miscellaneous fees, such as those related to sports programming or local broadcast channels. Between 24% and 33% of the typical consumer’s bill can be attributed to fees, consumer advocates told the FCC. In a separate move last year, the FCC proposed banning certain cable fees altogether, including early termination fees that the agency says hinder competition and prevent customers from easily switching providers. Mending the digital divideIn addition to cable, the FCC also addressed internet availability during its Thursday meeting. Defining high-speed internetThe report also reflects newly adopted revisions in how the country defines high-speed internet, which the FCC voted to approve on Thursday.

Persons: “, ”, Jessica Rosenworcel, ’ ”, NCTA, Dave Wallace, Amira Karaoud, Biden, Rosenworcel, you’re, Anne Neuberger, Neuberger Organizations: Washington CNN, Federal Communications Commission, FCC, Energy Star, National Institute for Standards, Technology, Logitech, LG, Samsung, Consumer, European Union Locations: Kentucky, Louisville , Kentucky, U.S, greenlight, Las Vegas, America

The White House is pressing Congress to extend a subsidy program that helps one in six U.S. families afford internet and represents a key element of President Joe Biden's promise to deliver reliable broadband service to every American household. “It seems to be a bipartisan issue — internet access and the importance of it,” Johnson said. Biden has likened his promise of affordable internet for all American households to the New Deal-era effort to provide electricity to much of rural America. He traveled to North Carolina last month to tout its potential benefits, especially in wide swaths of the country that currently lack access to reliable, affordable internet service. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: Joe Biden's, Biden, ”, Tom Perez, “, ” Perez, Gary Johnson, Paul, ” Johnson, ___ Harjai Organizations: Paul Bunyan Communications, Republican, Democratic, New, ACP, Associated Press, America Statehouse News Initiative, America Locations: Minnesota, America, North Carolina, Los Angeles

That's because a subsidy that helps people with limited resources afford internet access is set to expire this spring. If the program expires, participating families, including nearly 900,000 in North Carolina, will either lose internet access or have to pay more to stay connected. Most of that money will be awarded to internet providers to build internet infrastructure in areas that need it most. Several states incorporated the ACP subsidies into those draft plans in ways that would lower the cost for internet access to zero for some customers. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: Joe Biden, ” North Carolina Governor Roy Cooper, “, Shirleen Alexander of Charlotte, ”, Alexander, Biden, Franklin Roosevelt, Brian Vo, ” Vo, Nate Denny, he's “, ” Denny, Denny, Gina Raimondo, ” Cooper, ___ Organizations: ANGELES, Program, ” North, ” North Carolina Governor, Democrat, Administration, New, ”, Connect, Biden, Federal Communications Commission, Sense Media, Boston Consulting, Broadband Equity, National Telecommunications and Information Administration, Associated Press, America Statehouse News Initiative, America Locations: North Carolina, U.S, ”, ” North Carolina, America, Raleigh

☆ White House asking Congress for $6 bln to extend internet subsidy program -official
▼ + stars: | 2023-10-25 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The White House says the program, overseen by the Federal Communications Commission and known as the Affordable Connectivity Program, helps current users save over $500 million per month on their internet bills. The $6 billion in additional government funding would extend the program through December 2024, the official said. "Congress should act swiftly to fund the Affordable Connectivity Program and prevent more than 21 million households from losing access to affordable, high-speed internet," said White House National Economic Council director Lael Brainard in a statement to Reuters. Internet service providers say there are about 27 million additional U.S. households that are eligible but are not yet enrolled. Verizon (VZ.N), Comcast (CMCSA.O) and AT&T (T.N) have all called for Congress to extend the program that could run out of money by March.

Persons: Mike Segar, Lael Brainard, David Shepardson Organizations: Sabey Data, REUTERS, Rights, Reuters Wednesday, Federal Communications Commission, Program, White, National Economic, Verizon, Comcast, Thomson Locations: Intergate.Manhattan, Manhattan, New York

☆ More than 20 million Americans enrolled in a federal program for subsidized internet access
▼ + stars: | 2023-08-14 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —More than 20 million US households are now receiving discounts on internet service as part of a federal program created to close the digital divide, according to the Federal Communications Commission. Recipients living on tribal lands can receive even more, up to $75 per month to help cover internet access costs. Then, this February, Vice President Kamala Harris announced the figure had grown to more than 16 million households saving a total of $500 million a month on internet service. The program has continued to gain more than half a million new households a month since then. The ACP isn’t the only way the US government has recently moved to expand internet access.

Persons: Washington CNN —, Kamala Harris, ”, Jessica Rosenworcel Organizations: Washington CNN, Federal Communications Commission, Program, SNAP, Pell, FCC, ACP, Commerce Department, Broadband Equity Locations: United States

Trumzz | Istock | Getty ImagesOver the past two years, millions of low-income U.S. households have received broadband internet at a discount through two consecutive government programs. "Millions could be left in the dark without broadband service for the very same reasons they didn't have it in the first place." The Emergency Broadband Benefit, or EBB, which was approved by then-President Donald Trump in late 2020 and launched in February 2021, provided a $50 subsidy. That's considered an accomplishment, said Ken Garnett, chief strategy officer at Cal.net, a small internet service provider that serves rural inland areas of California. As of January, about $6.1 billion of the funds had been claimed by broadband service providers as reimbursement for discounting their services and products.

Search resuls for: "Connectivity Program"

15 mentions found