Friday News Roundup

Today is a Bank Holiday in the UK but the skeleton staff will continue to bring you updates from around the world. This file will be updated during the day with news in brief but watch out for other stories as they break. ® Philips extends bid period for VLSI Dutch firm Philips said it would extend the period of its $17 cash share offer to VLSI shareholders until the 16th of April. AMD, Intel file SEC report On the 29th of March, AMD filed a form 10K with the US Securities and Equity Commission (SEC) which is of considerable interest. As well as saying that it was uncertain about the success of its microprocessor strategy, there is also a long section which covers its cross-licensing agreement with Motorola. Intel filed its form 10K on the same day. More on this later. Singapore secret society Webmaster jailed The Singapore English language Straits Times is reporting that 19 year old Chang Wei Tat was jailed for two months after he set up a Tong Web page. Cable & Wireless sues MCI WorldCom In a lawsuit filed in the Delaware court, C&W has alleged it lost customers and revenue following its acquisition of MCI's Internet assets after the WorldCom's takeover of the US company. C&W claimed MCI WorldCom failed to effectively transfer MCI's Internet customers, hindered its ability to operate the Internet business and targeted former MCI Internet customers for marketing promotions. It also claimed it incurred significant recruiting costs to fill staffing positions that MCI WorldCom failed to transfer. It is seeking unspecified monetary damages.