The USA mobile consumers had their fun while it lasted. Verizon Wireless, the largest U.S. mobile carrier, plans to stop selling unlimited data plans to new customers and instead introduce two service plans with monthly data caps. Verizon’s move comes on the heels of AT&T’s decision in June 2010 to retire unlimited 3G data plans. Other carriers are also considering doing the same. Earlier this week, Sprint CEO Dan Hesse said Sprint might have to reconsider unlimited data for its 4G network if data usage increases significantly. Well, I still bet their caps will be less than the ones that TMNET will roll out for the Unifi in the future. Pity Malaysian internet users.
Facebook went down two times over the week. Here’s what you can do if Facebook goes down….(pls add your 2 cents)
1. Reopen that file folder of work that’s on the desk.
2. Actually Listen to the lecturer in front of you.
3. Answer the cell phone
4. Check for new email.
5. Surf to other sites such as Techcrunch.com, FastCompany.com, VentureBeat.com to see what they are saying about Facebook
6. BBMsg a fellow entrepreneur about an article you just saw on VentureBeat.com about Twitter.
7. Tweet. When you can’t get your Facbeook on. Just Tweet it. Just Tweet it.
8. Tweet some more.
9. Worry if your food in Cafe World is burning on the stove.
10. Visit MySpace.com ? Noooooooo!!
11. Stare outside your office or classroom window while clicking refresh until Facebook reappears in your browser.
Gold rose to a record for the third straight session on speculation that government programs to stimulate the economy will erode the value of the dollar, boosting demand for the metal as an alternative investment.
The dollar approached a five-week low against the euro. The Federal Reserve may say at a meeting tomorrow that it’s considering more measures to keep borrowing costs low. Confidence among homebuilders in September held at the weakest level in more than a year, indicating the housing market remains depressed.
“The longer we continue with no real change in the US economic situation, the more likely we’ll get another round of quantitative easing,” said Frank McGhee, the head dealer at Integrated Brokerage Services in Chicago. “The underlying loose monetary policies will erode the value of the currency against gold.”
Gold for immediate delivery climbed to an all-time high of $US1283.80. Holdings in exchange-traded products backed by gold advanced to a record on September 17.
The Fed has kept the benchmark interest rate at zero percent to 0.25 per cent since December 2008 and bought back Treasuries to revive the economy.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment dropped to a one-year low of 66.6, figures showed Sept. 17.
“The only thing that can bring gold down is a real improvement in the economy,” said Matthew Zeman, a metal trader at LaSalle Futures Group in Chicago. “People will dump it for higher-risk assets.”
Gold gained this year amid tame US inflation. The metal is traditionally bought as a hedge against rising consumer prices. Inflation expectations, based on the 10-year US Treasury breakeven rate, have fallen to 1.79 per cent from 2.21 per cent six months ago.
The 14-day relative-strength index for gold futures has been above 70 since September 16, a signal to some traders that the price is poised to fall.
‘Susceptible to Correction’
“I’m a weak long at these levels,” McGhee of Integrated Brokerage said. “Gold is at the top of a very long run and susceptible to a correction.”