Feeds

NYT online blues

Cash Register

  • alert
  • submit to reddit

Intelligent flash storage arrays

The online division of the New York Times was caught unawares by low ad revenues and has had to lay off 17 per cent of its workforce as a result. The job cuts, totalling 69, are reported to be across the board and will save the publisher $6 million. The cuts are needed to reach profitability by 2002.



eBay Inc is to acquire a majority stake in Internet Auction Co. Ltd., Korea's largest auction-style web site for $120 million in cash. Korea is the second largest online market in Asia.




Online bookmaker Sportingbet.com is taking a calculated gamble by pushing forward plans to list on AIM at a time when markets are taking a negative view of Internet stock. The

FT

reports that the Ofex-listed firm, whose most recent pre-tax losses were £3.5 million, will publish a prospectus next week and hopes to begin trading on AIM before the end of the month. The float could raise between £35-£40 million.




Primal Pictures, a software company developing a 3D map of the human body, is looking for additional funding of £3 million before its planned float early next year. The company grew out of research at University College


London.




Verity GB, a provider of back-end Web portal software, has reported record revenues of $34.5 million for its second fiscal quarter. Software product revenues made up 74 per cent of the total, and at $25.6 million were up 153 per cent on the previous year. The company reported net income just over $8 million.




RSL COM is trying to reposition itself as a specialist business services provider. The company has sold has sold 70 per cent of its consumer mobile customers to BT Cellnet and says it will use the extra cash to invest in its UK network. It will launch broadband Internet and IP services in Q1 this year. ®




Netpartnering.com, a London-based company which builds online channels for big companies, is gunning for an IPO, either in London or on the Neuer Markt within six months,

The Sunday Telegraph

reports. Set up nine months ago, by HP's former head of ecommerce in Europe, the company is aiming to raise E20m in a second round of financing.



Cash Reg - a shining light in a very dismal world.

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.