Daily News: Reuters Technology News Headlines - Delta website glitch offers up tickets at rock-bottom rates

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Thursday, Dec 26, 2013 02:20 PM PST
Today's Reuters Technology News Headlines - Yahoo! News: Delta website glitch offers up tickets at rock-bottom rates Fortress backs new LightSquared bankruptcy exit plan China approves pilot to open mobile telecoms market, boost competition

Delta website glitch offers up tickets at rock-bottom rates  Thursday, Dec 26, 2013 02:20 PM PST (Reuters) - A website glitch on Thursday morning caused some Delta Airlines fares to be offered at deep discounts to normal prices, including a reported roundtrip between New York and Los Angeles for $40. The situation has been resolved and the correct prices are being displayed," said Delta spokesperson Trebor Banstetter. Airfarewatchdogs.com, a travel and fare lookout website, said fares went as low as $40 for a round trip between New York and Los Angeles, and $200 for a first-class roundtrip ticket between Los Angeles and Hawaii. Economy rates for roundtrip travel between New York and Los Angeles on Delta typically cost around $400 or more. Full Story	Top
Fortress backs new LightSquared bankruptcy exit plan  Thursday, Dec 26, 2013 01:13 PM PST LightSquared is proposing a new bankruptcy exit plan with financing from Fortress Investment Group and other backers, as the U.S. wireless communications company seeks to avoid a sale to highest bidder Dish Network Corp. LightSquared would receive $2.75 billion in fresh loans and at least $1.25 billion in equity investment from private equity firms Fortress and Melody Capital Advisors LLC, as well as JPMorgan Chase & Co and Harbinger Capital Partners, court documents filed late Tuesday show. Harbinger, billionaire Philip Falcone's hedge fund, is LightSquared's controlling shareholder. LightSquared scrapped that sale after Dish emerged as the only qualified bidder, with a $2.2 billion offer and terms that LightSquared found unappealing. Full Story	Top
China approves pilot to open mobile telecoms market, boost competition  Thursday, Dec 26, 2013 02:27 AM PST China has approved a pilot scheme allowing private companies to piggy back on the country's three dominant telecommunications providers to offer own-brand mobile services, opening the world's largest mobile phone market to increased competition. Authorities have approved 11 private "virtual carriers" to resell mobile telecommunications services, the Ministry of Industry and Information Technology (MIIT) said in a statement on its website on Thursday. The pilot opens up the market for privately run companies to offer discounts or more attractive deals, raising competition in a market dominated by state-owned enterprises China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd. "It's a milestone. Full Story	Top

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