ALPHABET AXES INTERNET BALLOON PROJECT

Google’s parent company Alphabet Inc. is dropping its project to develop high-speed internet delivered via signals transmitted from balloons, citing the project’s high cost.

The CEO of subsidiary Loon announced that the spinoff company would be dissolved due to an inability to find ways to reduce the project’s considerable expense. The company had planned to develop balloons capable of delivering stable high-speed internet connections to remote areas that would otherwise be unfeasible for internet infrastructure.