Money Minute: 'Open Internet' Threatened; Apple's 'Watershed' Moment

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A court ruling could make the Internet more expensive for some users.

Netflix (NFLX), Google's (GOOG) YouTube and other big Internet content providers could be the big losers in the wake of a federal appeals court ruling. They may have to pay tolls to Internet providers so that users can continue to watch and download their heavy bandwidth programs. The court struck down the Federal Communication Commission's "open Internet" rules that gave equal access to all Internet traffic.

That means companies such as Verizon (VZ), Comcast (CMCSA) and AT&T (T), which own the delivery pipes, could charge more to big users. Don't be surprised if consumers end up paying the added costs.

Online gambling in New Jersey is off to slow start. Revenue in the first five weeks it was available totaled less than $8.5 million, far short of expectations.
Part of the problem is that some major banks refuse to let their credit cards be used for online gambling. About 150,000 New Jerseyans have opened accounts to play.

Overall gambling in New Jersey is on the wane. Revenue generated at Atlantic City's casinos fell below $3 billion last year for the first time since 1991.

Here on Wall Street, the Dow Jones industrial average (^DJI) jumped 116 points Tuesday, the Standard & Poor's 500 index (^GPSC) rose 19 and the Nasdaq composite (^IXIC) rallied 69. The tech-heavy index begins trading at the highest level since September of 2000.

Apple's (AAPL) iPhone goes on sale at China Mobile this Friday, and the Chinese company says it has already received millions of preorders. China Mobile also said its deal with Apple will go well beyond smartphones, but didn't specify what else might be involved. The potential for Apple is huge. China Mobile has more customers than the U.S. has citizens.

And General Motors (GM) says it will resume paying a dividend beginning in March. The automaker suspended its payment to shareholders in 2008, as it headed into bankruptcy. But the company has rebounded with a string of quarterly profits.


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jimmy_branch

WWW = World Wide Waste of time.

January 15 2014 at 2:22 PM Report abuse -2 rate up rate down Reply
ivanczar10

This court ruling is a death knell to universal service and the free , open internet !

January 15 2014 at 2:13 PM Report abuse +1 rate up rate down Reply
1 reply to ivanczar10's comment
bcrnbs2

why not, if the net can be screwed up who can do it better than the federal governmetn or the courts.....

January 15 2014 at 3:09 PM Report abuse -1 rate up rate down Reply
Phil

these monopoly providers need competiition, they are like public utilities and they suck, especially comcast they are the worst ripoff company in america

January 15 2014 at 12:56 PM Report abuse +2 rate up rate down Reply
1 reply to Phil's comment
Ken

I know of a town that took over being the internet provider for it\'s citizens. The cost is about the same, but the service is better and more local.....

January 15 2014 at 3:05 PM Report abuse +1 rate up rate down Reply
SPQR

Overall gambling in New Jersey is on the wane. Revenue generated at Atlantic City's casinos fell below $3 billion last year for the first time since 1991. I wonder why? maybe because people don't have any money to throw away and give it to the states !
They will find some way to tax the internet for sure. Our government has a HUGE appetite for spending money and they will never stop until they have have every penny we own

January 15 2014 at 11:28 AM Report abuse +2 rate up rate down Reply
alfredschrader

The Internet is not a United States system, it\'s a world wide system -( WWW.Com = World Wide Web). No single country can tax it, regulate it, charge it fees, or operate it.

January 15 2014 at 10:44 AM Report abuse +3 rate up rate down Reply
jdykbpl45

Any real surprise?

January 15 2014 at 10:10 AM Report abuse +2 rate up rate down Reply