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.

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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.

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

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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.

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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. ®

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