Alliance & Leicester banks on Net for future
Ditches 1,500 jobs
Alliance and Leicester is expected to announce plans to quadruple its investment in its online banking services to £60 million. It is also expected to re-brand itself as Alliance, rather than A&L, although since both alliance.com and alliance.co.uk are already registered, it may wish to reconsider. Unless it plans to buy one of the domains. Or has a devilishly delicious plan. The bank also said it plans to shed 1,500 jobs over the next three years.
Energis is to fork out £7.6 million for another five million shares (0.5 per cent of the issued share capital) in Freeserve at the Initial Public Offering price of £1.50 per share. Energis -which is the telco provider for Freeserve - now owns around 2.2 per cent in the ISP.
Gaming Internet has reported losses of £8.35 million despite pulling in revenues of £1.29 million from its gambling site. The company said it was considering a range of options to fund the full development of its greyhound betting service, GoBarkingMAD, which will take bets on 75,000 races a year. Shares in the company rose 1.5p to 32p. ®
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