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Wochit Headline News

by Wochit Headline News

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Norwegian Air Shuttle ASA became the latest airline to ground a Boeing 787 so that officials from the American company can examine what appears to be a technical problem.
The intersection of fiscal politics, national crisis, and technology regulation is a silly place, as there should be no overlapping space between the three issues. And yet. Good news: We're not ending net neutrality. The bad news, depending on your politics, is that we're likely going to shut down the United States government. That said, the current Washington dynamic has offered up a new fact: Technology policy and regulation is game for political football. Long gone now are the days in which technology managed to steer mostly clear of politics.
IT didn?t come as a complete surprise when Verizon Communications agreed earlier this month to pay $130 billion for the 45 percent of the Verizon Wireless unit that it didn?t already own. What?s startling, though, is the parent company?s dependence on its wireless unit?s operating profit. Without Verizon Wireless, the value of the old Verizon ? the giant telephone company that provides dial-tone service as well as Internet and fiber optic TV to millions of customers ? is vanishingly small.
For the first time since the financial crisis, the government faced off in court against a major bank over lending practices during the mortgage mania. Lawyers for the Justice Department contend that Countrywide Financial, a unit of Bank of America, misrepresented the quality of mortgages it sold to Fannie Mae and Freddie Mac, the taxpayer-owned mortgage finance giants, starting in 2007. The government said Fannie and Freddie incurred gross losses of $850 million on the defective loans and net losses of $131 million.