Feeds

Egg makes losses, no big stink

And other tales of wired world wonga

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Egg reported a pre-tax loss of £80.7m for the six months ending June 30 2000. This was in line with expectations, and compared with £69.7m the previous year. Sales were up at £33.2m, against £2.1m. The online bank said it gained 311,000 new customers during the period – making a total of 1.1m.

"Whilst we are seeing increased competition from both new entrants and incumbents, Egg has been built to prosper in a low margin era," said Egg CEO Mike Harris.

The company outlined plans to launch: an online insurance supermarket Egg Insure, a joint loyalty/credit card with Boots, e-wallet funnctionality for online shopping customers, and to make Egg services available through WAP and digital TV, all by the end of this year.



Shares in online retailer Amazon fell 14 per cent yesterday as it emerged that another top dog has quit the troubled company. Joe Galli, the president


and COO at Amazon.com announced that he is leaving to join VerticalNet, an online business to business firm. VerticalNet is based in Pennsylvania, far closer to Galli's family home than the Seattle based booksellers.




Reuters, the news and financial information provider, announced a nine per cent increase in revenues for the first half, citing its new electronic broking service as the driving force behind the rise. This segment of the company increased turnover by 50 per cent to £381 million.



The information giant also announced a partnership deal with Yahoo to provide services to companies setting up business to business concerns, as well as deals with Tibco Software and Equant, the data group to set up the company's website.



Q1 earnings at Kingston Communications fell by around a third to £6 million, leading to a fall in the Hull-based telco's share price. The drop in revenue is being blamed on ditching low margin carrier traffic and the increased investment tied in with the roll-out of broadband technology.




Granada Media is spending £20 million to own half of LiverpoolFC.com, a website for the club's supporters that will broadcast matches from next year. Granada will take half of all revenues from subscription, merchandising and advertising on the site. Granada also paid £22 million for a 9.9 per cent stake in Liverpool FC in July 1999.




More stories for e-hungry readers can be found at

Cash Register

. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.