High-tech flagship Autonomy is expected to be dumped from the FTSE 100 when the list of top companies is reviewed tomorrow. The company's anticipated removal from the prestigious list is the latest blow to the high-tech sector, which is being muscled out by more traditional companies.
In March 2000, 10 new economy firms joined the FTSE 100, but since then a number have been pushed out, including Baltimore, Psion and Kingston. Capita and Electrocomponents are also considered at risk of relegation.
L&H talks shop with Credit Suisse
Troubled speech recognition vendor Lernout & Hauspie has appointed Credit Suisse First Boston to try and sell its translation unit.
Lernout & Hauspie, which is in bankruptcy protection in the US and Belgium, has received offers in excess of $185m for its Mendez translation unit. "My mission is to try and get out of this mess," said chief executive Philippe Bodson in a conference call last week.
Lernout & Hauspie is still being investigated by the US Securities and Exchange Commission, and has had to re-state two and a half years of earnings.
Vodafone's Aussie plans go under
Rapidly expanding mobile operator Vodafone has had its Australian expansion plans scuppered, and is thought unlikely to buy the mobile operations of Cable & Wireless Optus.
According to Australian reports, independent Optus directors favour a rival bid from Singapore Telecommunications. Singapore Telecommunications is bidding for the whole of Optus, not just the mobile division.
US ebusiness does Europe
US networking vendors, facing flat sales at home, are talking up ebusiness expansion in Europe.
Cisco officials claim that the networking and telecoms market in Europe is set to grow by £35bn in the next three years. The figures are backed by a recent survey from Merrill Lynch, which predicts that technology spending growth in the US would drop from 11 per cent last year to just 5 per cent this year.
In Europe, however, growth is expected to fall just one per cent, from 14 percent to 13 per cent.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
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Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago