Webwire: NZ slashes termination rates; AOL profit shrinks 86%

Webwire: NZ slashes termination rates; AOL profit shrinks 86%

Dylan Bushell-Embling  |   May 05, 2011
telecomasia.net
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New Zealand's Commerce Commission has ordered operators to slash mobile termination rates from NZ$0.14 per minute to just NZ$0.04, and text messages from 9.5 cents to 0.16 cents.  
 
AOL has reported an 86% decline in first-quarter profit to $4.7 million. The web company, which purchased Huffington Post for $315 million in March, blamed declining subscription revenue for the slump.
 
Google has started disabling access to unofficial wireless tethering apps on the Android Market for customers of operators including AT&T and Verizon.
 
Chinese social network RenRen raised $743.4 million in its IPO on the New York stock exchange, and the shares, which started trading at $14 per share, grew nearly 30% during the day's trading to close at $18.00.
 
Apple has released a promised iOS update that aims to address locational privacy concerns raised last month. The update reduces the size of the file that stores location data, prevents it from being backed up to iTunes and deletes the file when location services have been disabled.
 
Kuwait's Zain grew its quarterly profit 36% to 69.9 million dinar ($950 million), and grew its active customers 20% year-on-year, but still missed analysts' forecasts for the quarter.
 
Sources say AT&T, Verizon Wireless and T-Mobile have scaled back plans for mobile payment joint venture ISIS, deciding to set up a mobile wallet service that can co-operate with Visa and MasterCard rather than a full-fledged mobile payment network that would compete against the payment giants.
Dylan Bushell-Embling

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