Feeds

Police called to evict dotcom staff

And other financial scare stories

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

E-staff at Manchester-based Powernet Telecom were escorted by police from their offices on Friday after being told they would not be paid.

The Peelers were called in after staff became angry. Powernet warned its employees not to nick anything either, or they'd be collared.

One hacked off dotcomer told the Sunday Times that Powernet was "on the verge of doing a deal with Energis" and that they would be paid if the agreement went through.

Earlier this year the telco and Net services outfit suspended a £600 million floatation. No doubt it had its reasons.



The latest

Barron's

survey of the financial health of dotcoms reveals that 273 of the 339 firms surveyed spent more cash than they received to the tune of $1.8 billion (£1.22 billion) during Q1 2000. The survey, conducted by Pegasus Research International, estimates that 86 of those companies surveyed are about to run out of cash. Top of the list was GenesisIntermedia.com Inc, followed by drkoop.com Inc and OneMain.com Inc.




British bank, Lloyds TSB, is to trial its new Net banking service in Spain before opening its doors in Britain, according to the

FT

.




Casmir, the university startup, has won £250,000 seed capital from Axiomlab and Internet Business Group. The company develops software that mimics the human brain in the way that it works. "It sits in the background and watches what you do, then puts you in touch with people who could help you," said Casmir co-founder Dr. Elaine Ferneley.




Totalise, is planning to float on AIM to raise the capital to start an online bank. It will be the first of its kind in the UK to be partly owned by its customers, the UK ISP said. The company will offer a range of services, starting with a credit card followed by high interest savings and current


accounts, life assurance and pensions. Initially the services will be provided in partnership with an existing bank. ®



Want some more then? Then check out Cash Reg - but only if you think you're hard enough,

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.