Thursday 28 October: Roundup of the IT news from the national and international press.
The Daily Telegraph reports that Sainsbury's profit forecasts have sunk after the supermarket revealed £30 million (GBP) ecommerce costs. Profit estimates were cut by £45 million (GBP) to £615 million (GBP) pre-tax for this year, well below the £920 million (GBP) predictions for the current year. £15 (GBP) million is to be spent on creating the new website.
Internet retailer Amazon.com has announced stronger than expected revenue growth for the third quarter, reports the Washington Post. The company also revealed net losses of $197.1 million although that includes $111 million costs and charges related to acquisitions and employee compensation.
The Guardian writes that the government has spent £2 billion (GBP) upgrading computer systems at the Inland Revenue. The buying and installing of the computers, designed to cope with tax changes, has cost £1 billion (GBP) more than expected. The systems, run by EDS, are called i2k and will start in January.
Online travel agency Ebookers and Internet security designer Baltimore have chosen to issue new shares on the US's Nasdaq, reports The Daily Telegraph. Ebookers will also seek a second listing on Germany's Neuemarkt, a huge blow to the London Stock Exchange's attempt to move to the Internet.
WHSmith is to tackle the problems of mass market online shopping, reports The Guardian. Many customers are often reluctant to pick up packages from distant sorting offices. The retail group intends to use its network of 600 stores to offer Net shoppers an Internet bookshop pick-up point. Books, CDs and videos will be delivered to the store of the customer's choice within 48 hours.
Orange is to spend up to £20 (GBP) million on marketing to boost its share of the pre-pay market from 11 per cent to more than 20 per cent over Christmas, reports The Times. Orange also accused other operators of ripping off customers. Its pre-pay service will feature no service charges, vouchers with no expiry dates, and call charges ranging from 5p to 35p per minute.
Internet merchant Buy.com plans to raise as much as $150 million in an initial public offering, reports the Wall Street Journal. The company, which sells computer accessories, books, music, videos and other products online, is currently valued at about $1 billion.
The Financial Times reports that Nike is to sell customised training shoes over the Internet. The company will allow customers to design their own colour scheme and add personalised elements. The shoes would be delivered between two and three weeks. Rival sportswear companies Reebok and Adidas are also expected to be considering customised sales online.
Claims to have "the most competitive logic density" in the industry
Dell's high-end mobile workstations upgraded with Intel Coffee Lake CPUs
Webstresser admins were also arrested in the UK, Croatia, Canada and Serbia
Security firm claims that 117,638 sites out of 135,035 analysed contain serious security flaws