Oct. 28 (Bloomberg) -- U.S. shares of raw-material producers fell, led by Alcoa Inc., on concern demand for commodities will slacken after China raised its benchmark lending rate for the first time in nine years.

``Demand from China for basic materials has been a very important driving force,’’ said Susan Malley, chief investment officer at Malley Associates Capital Management, which oversees $85 million in New York. Following China’s rate increase, ``the concern that this will slow the Chinese economy is causing those stocks to be a little bit weaker.’’

The Dow Jones Industrial Average shed 8.92, or 0.1 percent, to 9993.11 as of 11:56 a.m. in New York. The Standard & Poor’s 500 Index lost 0.75, or 0.1 percent, to 1124.65, as raw-material shares had the biggest drop among 24 industry groups. Semiconductor shares rose, limiting the Nasdaq Composite Index’s loss. The Nasdaq slipped 3.70, or 0.2 percent, to 1966.23.

[ read more ]

By CBS MarketWatch
Last Updated: 10/28/2004 12:05:02 AM

SAN FRANCISCO (CBS.MW) -- SBC Communications plans a major price cut for high-speed Internet customers who also buy the company’s local and long-distance phone service, according to a published report Wednesday.

SBC plans to charge $19.95 for digital subscriber line, or DSL service, to new subscribers who also sign up for its local and long-distance phone plan for an additional $48.95, according to the Wall Street Journal.

[ read more ]

ANCHORAGE, Alaska (BUSINESS WIRE) Alaska Communications Systems Group, Inc. (NASDAQ:ALSK)

-- Fourth Consecutive Quarter of Record Wireless Growth -
-- Net Cash Provided by Operating Activities of $15.5 Million -

Alaska Communications Systems Group, Inc. («ACS») (NASDAQ:ALSK) today reported financial results for its third quarter ended September 30, 2004. In addition, the company today separately announced the initiation of a quarterly cash dividend and the withdrawal of its registration statements previously filed with the Securities and Exchange Commission (SEC) for an initial public offering of Income Deposit Securities (IDS).

«Over the past year, we have transformed ACS into a truly customer-focused company,» stated Liane Pelletier, ACS president and chief executive officer. «We have been implementing growth strategies that capitalize on our outstanding position as the only state-wide integrated service provider in Alaska that owns local and long distance, Internet and wireless facilities. Our success is evident from our results, including posting our fourth consecutive quarter of record wireless subscriber growth, bringing our total to over 95,500 wireless subscribers, and increasing our total retail relationships growth rate for all of our products by 193 percent, or an increase of over 4,100 relationships, versus last quarter. We are committed to continuing to post strong market results, achieving operational improvements and driving total shareholder returns. As a result, today we announce an annual dividend program for holders of our common stock.»

[ read more ]

Last month I received a letter from a person claiming that he was charged a small fee on his credit card by AT&T when he has not used AT&T for several years.

After receiving this letter, I noticed that there was a charge from AT&T on my own credit card statement and I do not have AT&T as my provider. I have written about this matter and received the following e-mails:

«Your column concerning AT&T referred to credit card charges appearing in the amount of $30 each. I was embroiled with erroneous charges with them for monthly automatic billing of $10.95 for [an]Internet connection when I was hit with the first $30. In July, I was once again hit with $30 so I called the 800 number listed below the charge. Mind you, I do not have a long distance carrier inasmuch as I make those calls with a calling card. The 800 number was answered in India. She heard my story and could not help me. She gave me another number. No help there either. After the third call to AT&T, I got a questionnaire on my e-mail that if I had any questions about my account, I could use that vehicle to register my complaint. I finally said ENUF and dropped it. Well to my surprise, my latest bill includes another charge for $30. I will take your suggestion to call the Florida Attorney General.»

[ read more ]

TORONTO (BUSINESS WIRE) PRIMUS Telecommunications Canada Inc.

-- PRIMUS Canada Now Offers the Widest Selection of Consumer and Business Telecom Services Available Nationwide — All on a Single Bill

-- PRIMUS Wireless Features the Lowest Stand-Alone Wireless Long Distance Rates for Consumers and Businesses in Canada

-- Further Savings Available with New Consumer Wireless and Home Phone Service Bundle

[ read more ]