NEW YORK (Reuters) – Verizon Wireless plans to make its data-hungry customers pay a lot more, either in service fees or smartphone prices, as it tries to cut costs and boost revenue from data services.

The No. 1 U.S. mobile provider said it will eliminate unlimited data plans for all customers who upgrade their cellphone at a discounted rate, potentially driving more business to its smaller rival Sprint Nextel (S.N: Quote, Profile, Research, Stock Buzz).

NEW YORK, May 17 (Reuters) – The U.S. telecommunications
regulator on Thursday announced plans to set aside a chunk of
spectrum for connecting wireless medical devices to allow for
more convenient and cost-effective health monitoring.

The allocation of spectrum for so-called Medical Body Area
Networks (MBANs) is part of Federal Communications Commission
Chairman Julius Genachowski’s push to free up unused spectrum
and will be up for a vote at the FCC’s May 24 meeting.

May 14 (Reuters) – Hedge fund manager Philip Falcone’s dream
of bringing another wireless network to the United States
appeared to collapse on Monday when LightSquared Inc, the ailing
telecommunications company he bankrolled, filed for bankruptcy
protection.

LightSquared and many affiliates filed for protection from
creditors with the U.S. bankruptcy court in Manhattan in a move
that had been widely expected for weeks as Falcone, one of the
hedge fund industry’s most powerful players, and LightSquared’s
creditors failed to reach an agreement.

By Svea Herbst-Bayliss and Sinead Carew

(Reuters) – LightSquared Inc MOSAV.UL, the startup telecommunications company bankrolled by hedge fund manager Philip Falcone, is expected to file for bankruptcy protection in the next hours, sources familiar with the matter said.

Falcone has until Monday at 5 p.m. EDT (2100 GMT) to reach an agreement or face a default on a $1.6 billion loan, sources said. While the parties still have a few hours left to negotiate, the sources suggested that a last minute deal is highly unlikely and that the filing is imminent.

May 13 (Reuters) – Philip Falcone’s telecom start-up
LightSquared edged closer to a bankruptcy filing o n
Su nday as the hedge fund manager was far from an agreement with
creditors, sources familiar with the matter said.

Falcone has until Monday at 5 p.m. EDT (2100 GMT) to reach
an agreement or face a default on a $1.6 billion loan, sources
said.