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Buffalo Business Report- Monday July 21



If you are a Verizon FiOS customer and notice it takes less time to upload files and videos - it isn't just your imagination. Verizon is boosting the upload speeds of nearly all its FiOS connections to match the download speeds. That means it will take much less time to do things like back up files online and send videos to family and friends. Starting today, all new subscribers will get what is known as a "symmetrical" connection - instead of a plan that delivers 15 megabits down and 5 megabits up, the cheapest plan will deliver 25 megabits both up and down. Current subscribers will get the faster speeds over the coming months. It won't apply to everyone, though. A Verizon official says technical issues may prevent fully symmetrical speeds for about 5 percent of its customers.
   Verizon has just over 6 million FiOS Internet customers.

  Canadian Press) At a time when other provinces are moving to encourage airline traffic by decreasing or eliminating aviation fuel taxes, Ontario's decision to hike them will likely boost air fares and put the province at a competitive disadvantage, airline and airport officials say.In a budget tabled last week by Ontario's newly elected Liberal government, Premier Kathleen Wynne has proposed to phase in a four-cent-per-litre increase in the aviation fuel tax to 6.7 cents by 2017. The current tax of 2.7 cents per litre has been in place for more than two decades, but would rise by one cent per litre each year.
"I think that anything that widens the gap and makes it more expensive to fly from Canada vis-a-vis Buffalo is going to drive more people to airports in the United States," said Douglas Hartmayer, spokesperson for the Niagara Frontier Trasporation Adminsitration, operator of the Buffalo and Niagara Falls airports.,  .  
More than 2.3 million Canadians a year are believed to use the Buffalo airport, a two-hour drive from Toronto's Pearson International Airport, Canada's busiest travel hub.

M&T Bank expects to spend more than $150 million to try and combat money laundering, as part of an effort to meet new federal guidelines and gain twice denied approval for their purchas of Hudson City Bancopr.  The move was announced in the company's  earnings report podcast.

 


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