Opponents of the Federal Communications Commission have outlined their chief arguments on net neutrality to a federal appeals court in Washington, in hopes of undoing the FCC's move last year to repeal its own rules for Internet service providers. The legal briefs reflect a widening front in the multipronged campaign by consumer groups and tech companies to rescue the ISP regulations, which originally barred providers from blocking websites or slowing them. With the FCC's changes, Internet providers may legally manipulate Internet traffic as it travels over their infrastructure, as long as they disclose their practices to consumers. The FCC's decision last year to repeal the rules was "arbitrary and capricious," said officials from the state of New York, the California Public Utilities Commission and others in court documents Monday -- asking the U.S. Court of Appeals for the District of Columbia Circuit to overrule the agency. The FCC was too credulous in accepting industry promises "to refrain from harmful practices," the officials said, "notwithstanding substantial record evidence showing that [Internet] providers have abused and will abuse their gatekeeper roles in ways that harm consumers and threaten public safety."
Cisco said on Tuesday that it's shedding its service provider video software unit in order to concentrate resources on its core businesses. The deal has private equity firm Permira essentially buying back the video software business that it sold to Cisco in 2012 for $5 billion. Permira plans to rebrand the business and run it as a standalone company once more. Meanwhile, Cisco will hold on to the video and media technology related to its core business in networking, multi-cloud, security, data, and collaboration. When Cisco bought the business six years ago it was called NDS Group Ltd. and its software for paid-television channels was used by broadcasters worldwide.
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Despite the enormous changes in recent years, including the emergence of the plethora of significant new market players – including fintech start-ups, established payment, technology, and information firms, telecoms, and other providers, the financial services market is indeed in the middle of a revolution and this is down to both technology and regulations. This begs the question of how financial services incumbents will fare is far from settled and offers a scenario wherein these incumbents looking to grow shareholder value will need to build and sustain new competitive advantages. The European Commission's revised Payment Service Directive (PSD2) represents a broad sweep of financial services sector regulations that will come into force next year. In summary, PSD2 creates the opportunity for digital actors to link directly into payment systems via API's. The regulation will require that banks provide these API's so that third-party service providers will be able to directly access customers' accounts.