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Reuters slashes 1000 jobs to focus on Net

QXL concerned about Ricardo's b2b set up

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Reuters is to slash over 1000 jobs as part of its drive to refocus the company on the Net. A spokesman for the company said that the changes would involve a relocation of resources, and could include new hires as well as job cuts. The company has also formed a series of internal divisions that it plans to float off separately.



QXL's jitters over its planned buyout of Ricardo.de are due to price and the German online auction group's B2B operation, sources close to QXL told today's

The Wall Street Journal.

QXL is currently in talks over the acquisition following information which came to light after the deal was first announced. B2B venture RicardoBiz.de was reported to be one of the main attractions for QXL, but according to Ricardo the business to business market has not developed as expected.



Lastminute.com has bought France's biggest e-travel company, Degriftour Group, in a £58.9 million cash and share deal. Digriftour has half the French marketshare based on 1999 sales and 250,000 customers.




Raw Communications - which provides financial information via video over the Net - is set to float next year, according to the

FT.

Backed by Intel and 3i, among others, the venture is valued between £500 million and £1 billion.




Barclays and Freeserve have collaborated on the launch of the new Internet services site, ClearlyBusiness.com. The companies have spent an estimated £10 million on the venture in which Freeserve will hold a 60 per cent stake. A spokesman for ClearlyBusiness said that it would make money through advertising revenues, subscriptions and e-commerce fees.



The b2b portal has gone live some three months later than planned. The outfit has enough cash to last two years.

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