Tonight: Scattered evening t-showers, then a better chance of showers and storms late tonight. Lows near 70.
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Nearly All Tennesseans Have Broadband Internet Access
New research unveiled Wednesday by Connected Tennessee shows that 95% of Tennesseans have access to broadband Internet. The group also said nearly 80% of Tennessee households have access to fixed broadband speeds of at least 100 Mbps download/1.5 Mbps upload. In October 2011, only 41.8% of households in Tennessee had access to these broadband speeds.
Connected Tennessee has been working since 2007 to ensure that Tennessee residents have access to the economic, educational, and quality of life benefits derived from increased broadband access, adoption, and use.
Among the key findings of the new broadband availability research:
-- 91.89% of Tennessee households can access broadband service, including mobile wireless broadband, at advertised speeds of 6 Mbps download/1.5 Mbps upload, meaning that 202,144 households are in areas that may be eligible for Universal Service Fund broadband deployment subsidies.
-- 88.35% of Tennessee households can access fixed broadband service at speeds of at least 10 Mbps download/1.5 Mbps upload.
-- 91.5% of rural households in Tennessee have access to fixed broadband service of at least 768 Kbps download/200 Mbps upload (excluding mobile wireless service).
-- Basic broadband is available to 95.06% of Tennessee households.
-- 80.54% of Tennessee households have the ability to choose broadband service from two or more non-mobile broadband providers.
“We are encouraged that our efforts to bridge the broadband access gap are showing clear results,” said Connected Tennessee Executive Director Corey Johns. “Progress must continue, however, in order to bring the empowering technology of broadband to the remaining 123,220 Tennessee households unserved by basic, non-mobile, high-speed Internet.”
Last month, Connected Tennessee released an innovative new broadband mapping tool called My ConnectViewTM, which offers unmatched views of Tennessee’s technology landscape. Residents and businesses are encouraged to use the interactive map to find area providers and help validate the data.
Connected Tennessee’s research was conducted as part of the State Broadband Initiative (SBI) grant program, funded by the National Telecommunications and Information Administration (NTIA). The data were gathered in accordance with the requirements of the Notice of Funds Availability (NOFA) and subsequent clarifications set forth by NTIA. The process begins by contacting all known providers in the state and providing information about the broadband mapping project. Information on broadband service areas is collected from each willing provider through voluntary participation. A nondisclosure agreement (NDA) is offered to all providers prior to the submission of data; the data protected through the NDA is limited to highly sensitive network infrastructure information, including middle-mile locations. Connected Nation strives to maintain a flexible mapping process in order to be able to collect data from providers in a variety of formats based on providers’ technical capabilities and resources.
More Business News
Last Update on July 23, 2014 17:22 GMT
WASHINGTON (AP) -- The International Monetary Fund has shaved its forecast for U.S. economic growth this year, mostly because of a sharp contraction in the first quarter.
But the global lending organization still expects that growth accelerated in the April-June quarter and will remain healthy for the rest of this year and next.
The IMF projects growth will be just 1.7 percent this year, down from a 2 percent estimate in June. That would make 2014 the weakest year since the recession ended in June 2009.
The IMF's outlook is more pessimistic than the Federal Reserve, which expects growth of at least 2.1 percent. But it matches most other economists.
The Fund also urged the U.S. government to take steps to boost growth, including encouraging more Americans to find jobs and lifting productivity.
RETAIL SALES-ANNUAL FORECAST
NEW YORK (AP) -- The nation's largest retail trade group is paring its annual sales forecast because of slower-than-expected growth during the first half of the year tied to winter storms and lingering economic woes.
The Washington-based National Retail Federation says Wednesday that it now expects retail sales will rise 3.6 percent this year to $3.2 trillion, instead of its original prediction of 4.1 percent released in early February.
The figures include sales in stores and online but exclude automotive sales and sales at gas stations and restaurants.
Retailers now are heading into the back-to-school shopping season, the second-largest shopping period behind the winter holidays.
SEC-MONEY MARKET FUNDS
WASHINGTON (AP) -- Regulators have voted narrowly to end a longtime staple of the investment industry -- the fixed $1 share price for money-market mutual funds -- at least for some money funds used by big investors.
The idea is to minimize the risk of a mass withdrawal from the funds during a financial panic.
The Securities and Exchange Commission also is letting money funds block withdrawals when their assets fall below certain levels or impose fees for withdrawals.
The new rules were adopted Wednesday on a 3-2 vote. They were opposed by one Democratic and one Republican commissioner.
WASHINGTON (AP) -- The Senate has advanced an election-year bill limiting tax breaks for U.S. companies that move operations overseas. But big hurdles remain.
The Senate voted 93-7 Wednesday to begin debating the bill, which would prevent companies from deducting expenses related to moving operations to a foreign country. The bill would offer tax credits to companies that move operations to the U.S. from overseas.
Senate Democratic leaders say the bill would end senseless tax breaks for companies that ship jobs abroad. Republicans say the bill is an election-year ploy that has no chance of becoming law. They note that a similar bill failed two years ago.
WASHINGTON (AP) -- The Federal Aviation Administration says it will continue its ban on U.S. airline flights to Tel Aviv while assessing the danger of rocket attacks.
The agency said Wednesday it is working closely with the Israeli government to review new information they have provided and to determine whether safety concerns have been resolved.
FAA instituted the flight prohibition on Tuesday in response to a rocket strike that landed about a mile from the airport.
The directive applies only to U.S. operators, and has no authority over foreign airlines operating to or from the airport.
But European airlines are also avoiding Tel Aviv, after the European Aviation Safety Agency on Tuesday recommended doing so.
On Wednesday, Germany's two largest airlines, Lufthansa and Air Berlin, extended their cancellations through Thursday. Air France said it was suspending its flights "until further notice."
BRUSSELS (AP) -- The European Union's executive is proposing legislation to curb the energy use of households and firms by almost one third by 2030 to reduce greenhouse gas emissions and lower its dependence on gas imports, particularly those from Russia.
The Commission proposed Wednesday to increase energy efficiency by 30 percent, an upward revision of its earlier target of 20 percent by 2020.
Energy savings can be achieved by improving building insulation, upgrading heating systems or lowering the electricity need of new appliances like fridges.
The Commission says that for one additional percent in energy savings, EU gas imports are expected to fall 2.6 percent.
It estimates reaching the target will require investments of 89 billion euros ($132 billion) annually across the 28-nation bloc.
The proposal still requires approval from EU governments.
BRUSSELS (AP) -- The European Union is giving Lithuania the green light to adopt the euro currency starting next year.
Ministers from the 28-nation bloc on Wednesday cleared the final legal hurdle for Lithuania to become the 19th member of the currency zone encompassing some 330 million people. The country had been given preliminary approval in June.
Lithuanian Prime Minister Algirdas Butkevicius said adopting the euro will strengthen the Baltic nation's economy.
Alluding to the tensions with Russia over Ukraine, he added deeper integration with western Europe "means greater security as well."
Lithuania's Baltic neighbors, Estonia and Latvia, are already members of the euro. All three countries achieved independence from the Soviet Union in 1991.
The euro is just emerging from years of financial stress following debt problems in a number of countries.
LONDON (AP) -- Drug maker GlaxoSmithKline has cut its full-year earnings expectations as it says its second-quarter profits were hit by currency moves and a fall in sales of its respiratory drugs.
The company said Wednesday it expects 2014 earnings per share to be broadly similar to last year. It had previously forecast growth of between 4 and 8 percent.
GSK said second-quarter revenue fell 16 percent to 5.6 billion pounds ($9.5 billion) from 6.6 billion pounds in the same quarter in the previous year. Profit attributable to shareholders dropped from 1.05 billion pounds a year earlier to 654 million pounds.
The firm, which remains troubled by a high-profile bribery investigation in China, said sales there were down 20 percent.
WASHINGTON (AP) -- The Senate Veterans Affairs Committee has endorsed former Procter & Gamble CEO Robert McDonald to be the new secretary of the Department of Veterans Affairs.
The panel unanimously backed McDonald on Wednesday, one day after a nomination hearing in which he faced no opposition.
Senators said they are eager for McDonald to begin work at the beleaguered agency, which has been plagued by treatment delays and falsified records at VA hospitals and clinics nationwide.
McDonald has pledged to "transform" the VA and address a series of "systematic failures," including patient access to health care, transparency, accountability and integrity.
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