Wireless Telecommunications Services
Eutelsat Communications SA Creates New Russian Subsidiary; Signs Deal with Tricolor TV
Eutelsat Communications SA announced that it has set up a new subsidiary as a platform to serve the market for broadcast and broadband services in Russia. The subsidiary is called Eutelsat International Ltd, and it will commercialize capacity leased by the Company from RSCC (the Russian Satellite Communications Company). TricolorTV today confirmed that it has signed a multi-year lease with Eutelsat International Ltd for a total of 16 transponders on Express-AT1 at 56° East and Express-AT2 at 140° East to reach homes in the footprint of both satellites in Siberia and the Far East from first quarter 2014.
Japan Communications Inc Establishes New Subsidiary in US; Announces Restructure of Subsidiaries
Japan Communications Inc announced that it has established a wholly owned subsidiary, JCI US Inc, in the United States, on July 1, 2013. Three existing subsidiaries in the United States, Communications Security and Compliance Technologies Inc., Computer and Communication Technologies Inc and Arxceo Corporation will become wholly owned subsidiaries of JCI US Inc.
Sprint Nextel Corp Must Face NY Suit Over Tax Fraud-Reuters
Reuters reported that a judge has ruled that Sprint Nextel Corp must face a lawsuit brought by New York state accusing the company of deliberately not collecting or paying millions of dollars of taxes for its cell phone service. In a decision made public on Monday, New York Supreme Court Justice O. Peter Sherwood denied a motion by Sprint to dismiss the lawsuit. Sherwood, however, dismissed a conspiracy claim against Sprint and ruled that certain claims applying to periods before March 31, 2008 are barred by a three-year statute of limitations. The lawsuit brought by New York Attorney General Eric Schneiderman was the first tax enforcement action filed under the state's False Claims Act. Under the False Claims Act, whistleblowers may be eligible to receive up to 25 percent of any money recovered by the government as a result of information they have provided. Based on whistleblower information, Schneiderman alleged in the lawsuit that Sprint failed to bill customers for more than $100 million in taxes for its wireless services over seven years. The lawsuit seeks three times the amount of underpaid tax, plus penalties.
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Sector Summary
| Energy |  -0.19% |
| Basic Materials | -1.03% |
| Industrials | -0.70% |
| Cyclical Goods & Services | -0.05% |
| Non-Cyclical Goods & Services | -0.34% |
| Financials | -0.37% |
| Healthcare | -0.53% |
| Technology | -0.21% |
| Telecoms | -0.08% |
| Utilities | -0.75% |
| DOW | 14,927.35 | -47.61 |
-0.32% |
| S&P 500 | 1,613.01 | -1.95 |
-0.12% |
| NASDAQ | 3,430.81 | -3.68 |
-0.11% |
| TR US Index | 146.22 | -0.43 |
-0.29% |
+246.24Analyst Research
| Report Title | Price |
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Provider: Renaissance Capital
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$92.00
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Provider: Renaissance Capital
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$92.00
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Provider: GlobalData
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$125.00
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Provider: GlobalData
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$125.00
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Provider: GlobalData
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$125.00
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