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$VSAT said the JV with Eutelsat will have 2 businesses aiming to expand the European broadband market. Wholesale Services will focus on providing broadband services in Europe and Mediterranean regions and Retail Services will focus on building a direct-to-consumer ISP business in Europe. The JV will be owned 51% by $VSAT and 49% by Eutelsat.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.