Friday 12 November: Roundup of the IT news from the national and international press.
The Financial Times reports that radio company Capital Radio is to invest £5.5 million in a new Internet music site. The company said customer loyalty and music industry contacts would ensure there was the capacity to build a strong online business. Capital is also planning to push its digital radio services.
The Daily Telegraph reports that cable company Telewest, which revealed losses of £357 million for the nine months up to 30 September, is set to quicken the launch of its digital TV services including a competitor to Open. Telewest revealed it may make a bid for the rights to premier league football.
Nasdaq reached another all time high yesterday as tech stocks continue to be in demand, reports The Financial Times. On the New York Stock Exchange Tandy rose after a marketing deal with Microsoft for its Radio Shack stores. Microsoft, Dell and Lucent were amongst the technology stocks rising.
A Chinese court has jailed a computer hacker for three years for manipulating prices on a computerised stock trading system, writes The San Jose Mercury. Zhao Zhe was ordered to pay $355,200 in compensation for trading losses after being found guilty of rigging stock data so that he could sell shares at inflated prices.
The Daily Telegraph reports that Internet firm 365 Corporation will raise £50 million from its proposed flotation. The company, which operates as a virtual publisher, will be valued at £259 million. 365 said it will use the money raised to fund new sites and products.
Gas transporter BG has said it could not guarantee that British gas supplies would not be affected by the Y2K computer problems, writes The Guardian. The company, which has spent £53 million on a Y2K contingency plans programme, did however add that the plans had significantly lowered millennium bug risks.
Vodafone is to continue with its plans to bid for Mannesmann and Orange, reports The Wall Street Journal. Industry insiders have predicted the combined bid would total more than $100 billion. Mannesman confirmed yesterday that that it had secured around 44.86 per cent of Orange.
New Vikendi map adds snow, snowmobiles and new aural and visual twists
Faults and bad weather ground SpaceX, Blue Origin, Arianespace and United Alliance
New regulation expected to cut greenhouse gas emissions by about 17 million metric tonnes between 2020 and 2050
Molybdenum ditelluride is a two-dimensional material that can be easily stacked into multiple layers to create a memory cell