Time Warner Cable (TWC) experienced a nationwide outage of its Internet service this morning. The company said a problem occured during routine maintenance and caused the outage at about 4:30 a.m. Eastern. Time Warner Cable said service was largely restored to around 6:00 a.m. The problems affected its Internet and on-demand services. It was announced earlier this week that Time Warner Cable settled with the Federal Communications Commission for $1.1 million over charges it failed to report multiple network outages.
The head of the International Monetary Fund Christine Lagarde is reportedly under formal investigation in connection to a French corruption case. A French court is investigating a 400 million-euro ($531 million) payment to a businessman when Lagarde was the country's finance minister. Lagarde has denied wrongdoing and said she has no intention of resigning over the investigation.
Social network Snaphat is now valued at nearly $10 billion. According to the Wall Street Journal, the company secured a new $20 million investment from venture capital firm Kleiner Perkins Caufield & Byers earlier this year. Snapchat, which lets you send photos and messages that disappear within moments of opening, still has no revenue.
It’s been reported for several months that Apple (AAPL) will release two iPhones with larger screens. Now there could also be a bigger iPad in the pipeline. The company is reportedly planning a new iPad with a 12.9-inch display. The current iPad has a 9.7-inch screen and the iPad mini has a 7.9-inch screen. Production on the new larger iPad is scheduled to begin in the first quarter of next year.
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