In the US market, fully loaded interest rates range today 10-13% (far higher than in 2007-2008 when it was half that rate).

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Worse still, early versions of WebTV's software didn't fully support the full range of tricks web designers employ, so the pages were often impossibly skewed and confused.

FORBES: WebCE

Mr Thomas said the company had "fully explored" a range of alternatives, including selling its operations and transferring its staff to another operator in the area, but these had proved unsuccessful.

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