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TECHNOLOGY
FCC Asked to Study Wireless Competition
Four senators asked the Federal Communications Commission to study whether exclusive deals between cellphone manufacturers and network carriers may limit choices for consumers and prevent competition in the wireless industry.
Sen. John F. Kerry (D-Mass.) and three other members of the Senate subcommittee on communications, technology and the Internet sent a letter to acting FCC Chairman Michael J. Copps asking the agency to look into deals, such as the one Apple has with AT&T to sell and carry service for the iPhone, and their impact on consumers and smaller wireless carriers.
Critics have called for regulatory action to prohibit such contracts, while carriers such as Verizon Wireless have said such agreements spur innovation.
Two Senate hearings on wireless competition are scheduled this week. A Judiciary subcommittee today will examine the increase in text messaging prices in recent years, and a Commerce subcommittee Wednesday will address exclusive handset agreements.
-- Cecilia Kang
TREASURY BILLS
Rates on 6-Mo. Notes Hit Lowest for Year
The discount rate on three-month Treasury bills auctioned yesterday fell to 0.160 percent from 0.190 percent last week. Rates on six-month bills fell to the lowest level this year, to 0.290 percent from 0.345 percent. Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, rose to 0.56 percent last week from 0.50 percent two weeks ago.
-- Associated Press
