Business Briefs: Fed Interest Rate Unchanged, AOL Could be Sold, Delta Goes Wi-FI

Federal Reserve leaves interest unchanged
Facing a slowing economy and rising inflation, The Federal Reserve decided on Tuesday to leave interest rates unchanged.

The Federal Reserve announced Tuesday after a meeting that it was keeping its target at two percent for the federal funds rate.

The decision means that commercial banks' prime lending rate, the benchmark for millions of consumer and business loans, will remain unchanged at five percent, its lowest level since late 2004.

Time Warner ready to unload AOL
Time Warner executives hinted on Wednesday that they could be ready to unload dial-up Internet provider America On Line (AOL).

Time Warner execs said Wednesday they were splitting AOL's Internet access business from its advertising business. AOL and Turner will begin running separately early next year.

"We've made the key decisions that will enable us to run AOL's access and audience business separately beginning in 2009," he said Time Warner CEO Jeff Bewkes in a statement.

Delta to offer Wi-Fi in domestic flights
Atlanta-based Delta Air Lines announced on Tuesday that passengers will soon be able to access in-flight Wi-Fi service on domestic flights.

The airline is allowing passengers with Wi-Fi enabled laptops and other devices to access the Internet for a fee of $9.95 on flights three hours or shorter. Longer trips will cost users $12.95.

Passengers will not be able to place phone calls via the Internet, however adult content will not be blocked.

Delta is working with Illinois based networking company, Aircell. Aircell will install the network on more than 330 planes and service will be available as early as September.