IN THE PAPERS
In the papers 12 March
12-03-2008
by Sylvia Leatham
Datalex posts pretax loss for 2007 | Balderton considers legal action against former Payzone chief
The Irish Times reports that Xiam Technologies has been sold to Qualcomm for USD32 million. Read the full story on ENN.
The paper also says that the Office of the Data Protection Commissioner is investigating a fault on Vodafone Ireland's network that led to some 1,000 subscribers accessing voicemails left on other subscribers' phones. It is believed the investigation is likely to involve ComReg, which itself is examining the matter. Vodafone declined to comment, stating only that it would co-operate with any investigation. The company apologised to subscribers on Monday.
The same paper reports that travel software provider Datalex has posted a preliminary pretax loss of USD2.1 million for 2007, largely due to a USD1.2 million restructuring charge and the weakness of the dollar. Revenues at the company increased to USD31 million from USD26.6 million in 2006, when it reported a profit of USD1.1 million. Chief Executive Cormac Whelan said that despite a restructuring plan that was implemented in the first half of the year, "further sharp weakening of the dollar [in the second half of the year] continued to impact negatively on the cost base".
The paper also says that Balderton Capital is considering taking legal action against former Payzone chief John Nagle for remarks he made in a personal statement to shareholders about the company and its partner, Barry Maloney, at an EGM in Dublin on Monday. The venture capital group said that a "range of statements and allegations" made by Nagle relating to Balderton and Maloney were "absolutely without foundation", adding that "Balderton has put Mr Nagle's lawyers on notice that the content of this circular is defamatory". In his personal statement read at the EGM, Nagle had outlined how his relationship with Maloney had deteriorated more than two years ago.
In more news of Payzone, the Irish Independent says that company chairman Bob Thian is considering leaving his position. Sources close to the firm said it had never been the chairman's intention to stay in the role in the long term. Others suggested he may part company with Payzone within the short term. At Monday's EGM, Nagle and Williamson's resolution to have Thian removed as chairman was defeated by a majority of over 70 percent.
The paper also says that a computer programmer who downloaded nearly 16,000 images of child pornography has been jailed for three years. Judge Anthony Kennedy sentenced Manchester-born Gary Smith to three years in prison at Sligo Circuit Court.
The Irish Examiner says that students are starting college without an adequate level of maths for top jobs because of government inaction to change the courses in schools, a leading academic has claimed. Donal Hurley, senior lecturer at University College Cork's maths department, said there have been no changes to maths courses despite promises from Education Minister Mary Hanafin. "People talk about Ireland as a knowledge economy, but say that maths is a fundamental problem," said Hurley. "People have been talking about curriculum reform but why is that taking so long?"
The Financial Times reports that games publisher Take-Two has raised its 2008 forecasts on the strength of pre-orders for its Grand Theft Auto IV title. Take-Two said it was raising its 2008 fiscal year guidance to USD1.25 billion to USD1.4 billion in revenues and USD1.35 to USD1.55 in earnings per share. It said this was due to its first-quarter results ending 31 January exceeding expectations and better-than-expected pre-orders for GTA IV.
According to the Wall Street Journal, Intel executives and lawyers have appeared before European Commission officials in an effort to fend off antitrust action by the European regulator, which suspects the chip giant of anti-competitive practices. Tuesday's hearings, intended to give Intel a chance to present its defence against EU allegations made last year, took place behind closed doors. The hearings will continue on Wednesday, when rival AMD, the complainant in the case, and consumer-advocacy groups will make presentations.
The paper also notes that Japan is investigating a possible defect in Apple's iPod after one of the digital music players reportedly shot out sparks while recharging, a government official said. An official at the trade and economy ministry said a defect is suspected in the lithium-ion battery in the iPod Nano, model number MA099J/A.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 