ROUNDUPS
In the papers 18 April
18-04-2002
by Paula Mythen
Network365 signs major deal with Hutchison 3G | Tally shows that shareholders approved HP's purchase of Compaq by a very slim margin
The Irish Times reports that Network365 has won a multimillion-dollar contract to provide digital wallet software to Hutchison 3G, a subsidiary of Hutchison Whampoa. The telecommunications company will introduce the software, which allows 3G phone or device users to make payments securely, in Britain first, then across its networks in Europe, Australia and Hong Kong.
The paper also reports that both Smartforce and EMC are expected to announce hundreds of job cuts at their Irish operations later on Thursday as both report quarterly financial results.
The Irish Independent reports that more than six months into its rebranding campaign, Vodafone says it is happy with the progress made. The company said its aim is to make Vodafone a top ten global brand by 2004 and Vodafone in Ireland will have a major part to play in achieving that aim.
The Financial Times reports that IBM blamed a sudden decline in customer orders in March for sharply lower earnings and revenues. The company reported earnings per share of USD0.68, against USD0.98 in the year-ago period. Revenues fell 12 percent to USD18.6 billion from USD21 billion a year ago. Global Services, its IT services group and largest business, declined 3 percent to USD8.2 billion.
The paper also reports that Hewlett-Packard said shareholders voted by a 51.4 percent to 48.6 percent margin to approve its bid to buy Compaq Computer, according to preliminary results released on Wednesday to the two companies by an independent vote counter. Walter Hewlett immediately said HP's apparent margin of victory was "extremely narrow", and he said that he would demand a recount. HP said approximately 837.9m votes were cast in favour of the deal, while about 792.6m votes were cast against it. HP's 45 million-vote margin of victory is equivalent to about 3 percent of the 1.63 billion votes cast. The company said an "insignificant" number of votes remained "unresolved."
The Wall Street Journal reports that Apple Computer Inc., posted a 4 percent rise in fiscal second-quarter revenue even as net income declined 7 percent from the year-earlier period. For its fiscal second period, which ended March 30, Apple reported net income of USD40 million, or USD0.11 a share, compared with USD43 million, or USD0.12 a share, in the year-earlier period. Revenue in the most-recent period was USD1.5 billion, matching the forecast Apple made three months ago, compared with USD1.43 billion in the year-earlier period.
The same paper reports that Metromedia Fiber Network Inc. said it will restate previously announced financial results and said its auditor, KPMG LLP, found its internal systems and controls so flawed they couldn't be reviewed in accordance with normal accounting procedures. The struggling telecommunications network company has already defaulted on an interest payment and warned that it might have to seek bankruptcy-court protection.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 