In today's news: Home sales drop, FCC takes aim at "cramming," the Fed is likely to keep stimulating the economy, the lack of NFL football is hurting more than players and owners, and Verizon will start charging more for data.
Spring is supposed to be home-selling season. But not this year. Reports MSNBC: “Sales of previously owned U.S. homes fell to a six-month low in May, prices dropped 4.6 percent from a year ago, supply rose, and first-time homebuyers slid to an anemic 35 percent of sales.”
If you thought your cell-phone bill was high, check your land-line phone bill. “As many as 20 million Americans may have unauthorized charges hidden on their land-line telephone bills,” USA Today reports. “This practice of ‘cramming’ charges, typically from $1.99 to $19.99, for unauthorized products or services onto monthly statements often goes unnoticed.”
ECONOMY: Bernanke may prolong record stimulus
A survey of economists predicts the Federal Reserve chairman will keep up the country’s record stimulus – which will keep the economy from tanking. “Federal Reserve Chairman Ben S. Bernanke will probably delay the central bank’s exit from record stimulus,” Bloomberg reports, “giving the flagging economy a boost without resorting to additional asset purchases.”
While the NFL and the players haggle over billions, America’s football cities could lose millions.”The NFL Player Association’s estimated $20 million per-city, per-game loss factors in the expected hits to businesses within NFL markets – including restaurants, bars and hotels,” MSNBC reports.
The days of unlimited data on your smartphone are coming to an end. “Verizon Wireless will join competitors AT&T and T-Mobile next month in eliminating the option for customers to consume unlimited data on their mobile phones without paying additional fees,” CNN reports.