BT has announced record year-end profits. The telecoms firm made #3.2 billion for the year ending 31 March, a rise of 6% on last year and breaking the previous high of u3.08 billion in 1991. Revenues were #14.94 billion, up from #14.45 billion. Announcing the results, chairman Sir Iain Vallance (right) said that BT would go to court to fight any attempt by the new Labour government to levy a windfall tax on the company. "If we are stung in a big way for this tax, and if it can be challenged legally, then we owe it to our shareholders to challenge it," Vallance said. He argued that BT is not a monopoly, because it faces stiff competition both at home and overseas.
IBM is back. Last Tuesday, IBM stock came within inches of a high for the decade. Louis Gerstner, chairman and chief executive officer, told staff the company had reached a major milestone in its history. Gerstner took over in 1993 and administered a major company restructuring.
Gateway 2000 backed out of a $7 billion (#4.4 billion) takeover deal with Compaq last month, according to the Wall Street Journal. Gateway founder Ted Waitt is reported to have rejected the deal because he couldn't bear the thought of his executives answering to Compaq bosses. Compaq's offer was around 50% higher than Gateway's current market value and would have made Waitt another $3 billion richer. Separately last week, Gateway announced a two-for-one stock split of its common shares, a share repurchase program and a move to the New York Stock Exchange.
Dell UK hopes to mirror the success of its US Internet-based sales business. The company said UK customers can now configure their PCs on-line. Philip Vanhoutte, MD of Dell's direct operations in the UK and Ireland, said the company's Internet sales have been increasing by 20% per month, with revenues now in excess of $1 million (#625,000) per day. "We feel the time is now right to replicate this success story in the UK."
IBM has unveiled a 2.5in 5Gb laptop drive aimed at converting desktop users into mobile ones. The Travelstar drive uses IBM's MR (MagnetoResistive) technology to send out stronger signals to the head, which in turn allows reading and writing of larger volumes of information. IBM claims it is the only company currently using that technology. The drives will ship to OEMs in July.
Hewlett-Packard has reported an 8% rise in second quarter profits, in spite of sluggish growth in orders for PCs and printers. Earnings for the quarter ended 30 April were $784 million (#490 million), up from $723 million in the same period last year. Revenues rose 5% to $10.34 billion from $9.88 billion. The company said orders were lower than expected due to distributors being overstocked with supplies of PCs and printers.
Correction: We would like to point out that the article published last week in relation to Specialist Data Solutions (SDS) was incorrect in the following respects: - Boots Opticians does not have any SDS DOS software relating to the practice system installed in any of its practices.
- Boots Opticians is not working with SDS in installing or upgrading their systems from DOS to NT 4.0.
We would like to apologise to Boots Opticians for publicising erroneous information and for any concern we may have caused.
Insecticides based on sulfoxaflor might be as bad for bees as neonicotinoids
Intel teases forthcoming new graphics card accompanied by the text "We will set our graphics free"
Think your password manager is completely secure? Think again...
ARM plans 7nm 'Deimos' for 2019 and 5nm and 7nm 'Hercules' for 2020