Tuesday 19 October: VNU Newswire's roundup of the IT news from the national and international press.
Securicor has received the go-ahead from its shareholders to sell its stake in Cellnet, reports The Daily Telegraph. Only two per cent of the 70 per cent of Securicor shareholders who voted objected to the proposed £3.15 billion sale to BT. It had been expected that several large shareholders would block the deal, but analysts suggested they saw no realistic alternative.
The Financial Times writes that the Bank of England has prepared itself for any millennium cash crisis by making more than £50 billion available. The Bank expects demand to rise up to £30 billion but is prepared for up to £850 requests from every individual. Extra notes have already been sent to bank vaults and cash centres.
Dell has said higher prices for memory chips caused by last month's Taiwanese earthquake will affect results in the third quarter, reports USA Today. Dell has said the surprising increase in Dram prices will hurt the company in the third quarter but it wouldn't face any significant parts shortages because of the quake.
Nortel Networks is to buy software maker Clarify in a deal valued at $2.1 billion, reports the San Jose Mercury. Clarity expects sales of up to $63 million and earnings per share above analyst expectations. The move gives Clarify shareholders 1.3 shares of Nortel stock for each share of Clarify.
German company Mannesmann is expected to make a takeover bid for mobile phone operator Orange, reports The Independent. It is predicted that Mannesmann would have to bid around £20 billion for Orange, which last year had operating profit of £15.4 million on turnover of £1.2 billion.
US startup Musichall 2000 is aiming to help computer users become top musicians, reports Newsweek. The company will launch the website, www.mh20.com, and software in early November. Users can mix musical sounds and samples and allows people to exchange work with other musicians or distribute it to fans. Musichall also plans to offer free distribution to colleges.
France Telecom has agreed to pay 7.4 billion euro (£4.8 billion) for a 60 per cent stake in Eplus Mobilfunk, reports the Wall Street Journal. Eplus's 3.1 million subscribers make it Germany's third largest mobile operator and the acquisition will give France Telecom a strong foothold in Germany. The French company will acquire the holding from RWE and Veba, the German utilities.
The Financial Times reports that Great Universal Storeshas appointed a director of ecommerce. Michael de Kare-Silver will manage existing ecommerce opportunities at GUS and create new ones. The group is currently adding Internet channels and plans to develop its Argos chain's Internet shopping services.
Latest Tesla news: Tesla stock price tanks amid reports of 'widening probe' by SEC and claims the base Model 3 loses money
SEC 'probe' takes its toll on Tesla as new research suggests that Tesla loses $6,000 on every $35,000 Model 3
10nm Cannon Lake Core i3-8121U CPUs make a rare outing with Intel's NUC mini PC
'Notorious' Australian child hacker thought he had executed 'flawless' hack
The former employee says that Tesla fired him for bringing the accusations to management internally