THE WRAP: Satellites collide, Cisco's $30b hoard

It was the week satellites collided and Cisco laid its hands on even more cash.

In the first ever collision in space of large man-made objects, a straying Russian satellite crashed into an Iridium craft 784 kilometers above Siberia. Swirling debris doesn't threaten the International Space Station but may strike other satellites, experts warned.

Cisco set off speculation that it was storing up cash for M&A raids after raising $4 billion in debt. It now has $30 billion in cash - more than any other tech company.

Vodafone and Hutchison announced a A$4 billion merger of their Australian operations.

Securities regulators probed vote-rigging allegations after PCCW shareholders approved chairman Richard Li's plan to take the company private. PCCW and Telstra staff protested over pay and job cuts in Hong Kong and Sydney.

Deadly bushfires laid to waste mobile and broadband networks in rural Australia as well as vast tracts of the countryside. Critics claim lives could have been saved if governments had not rejected a phone-based alert system.

BT warned of further write-downs as it announced an 81% fall in Q3 income. The embattled global services group made an operating loss of $711 million.

Intel will invest $7 billion in US 32-nano chip plants over the next two years. Telstra acquired two more China mobile content firms for $198 million.

Telenor forecast a $370 million Ebitda loss on its Indian 3G startup. Korea's second biggest ISP, SKBroadband, blamed its full-year loss on higher marketing costs.

Currency fluctuations and weaker performances in Indonesia and the Philippines drove down SingTel's quarterly result.

RIM reported a surge in BlackBerry subs but warned earnings would be at the low end of expectations.

A Cisco survey found that global mobile data traffic is doubling each year and will reach 2 exabytes in 2013.

Facebook co-founder Mark Zuckerman paid as much as $65 million to settle a suit from Harvard ex-classmates whose software he swiped. The social network site, once valued at $15 billion, could now be worth as little as $1.3 billion.

Thailand said it would hold a 3G auction in the third quarter.

A senior Democrat senator plans to bundle rules stymieing net neutrality into the Obama stimulus package.

Google and Amazon announced e-books for the mobile phone. HP, MySpace, Bank of America and Sandisk joined the Symbian Foundation.

The next hacker challenge will target smartphones and browsers. IBM and Juniper announced a joint push into cloud computing.

The Queen updated her website. And a UK woman told a court that she had learned marriage was over on her husband's Facebook page.

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