CNN Money: Top business headlines for May 10

    6:29 AM, May 10, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Stacey Delikat has your top business and financial news on this Friday, May 10.

    Top smartphones may soon cost more than $200
    The days of the $200 smartphone could be numbered. It's no secret that wireless companies are trying to do away with subsidies. Typically, customers pay a discounted price up front for their phones and then work the cost off over the course of a two year contract.  This has helped carriers lure in customers and lock them into long-term deals. But those discounts are also bottom-line killers, particularly when subsidizing super high-end devices like the iPhone from Apple. The iPhone carries by far the largest subsidy on the market.

    The FCC wants to make in-flight Wi-Fi less awful
    If you hate paying $15 for Wi-Fi on your flight, only to have it move at the approximate speed of a sloth, the FCC has good news: It wants to speed up your internet above the clouds. The proposal calls for freeing up 500 megahertz of airwaves for air-to-ground broadband. 500 MHz is a very wide swath of spectrum. By comparison, Gogo's current in-flight Wi-Fi service utilizes just 3 MHz to connect to a 3G data service and split that slow connection over Wi-Fi to hundreds of passengers.

    Facebook in talks to buy mobile-driving app Waze
    Facebook Inc. is in talks to acquire mobile-driving application Waze in a deal that could be worth as much as $1 billion, according to people with knowledge of the matter. While these people characterized the discussions as serious, a deal may still fall apart, they cautioned. Waze, which has offices in Israel and Palo Alto, Calif., is a crowd-sourced, ad-supported driving application with close to 50 million users. Calcalist, an Israel-based publication, earlier reported news of the discussions.  If Facebook acquires Waze, the transaction would represent one of the Menlo Park, Calif., company's largest acquisitions.

    Consumers buying more traditional, emotional gifts this Mother's Day
    "Tradition" is the watchword this year when it comes to Mother's Day gifts, according to our annual Brand Keys survey of 5,200 men and women, ages 18-65. On the rational side of things, it turns out more than 9 out of 10 consumers (92%) plan to celebrate Mother's Day some way, driving total spending to an estimated $18.6 billion. That's an average spend of $171.00, up five percent over last year, with men, following their traditional pattern of spending more a reported average of $200. Women reported an anticipated spend of $142.



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