|
The Irish Independent reports that several institutes of technology are facing a cash crisis due to government cutbacks on spending. The Department of Education and Science has refused to top up grant allocations, and institutes have been informed they must not exceed their budgets. Dublin Institute of Technology has been one of the hardest hit by the lack of funding -- it has slashed its part-time teaching budget by EUR1.3 million, reduced overtime, curtailed recruitment and may cancel some courses.
The paper also reports that Horizon Open Systems has appointed Roland Noonan as its managing director. Noonan, who joined the company in 1991, succeeds Gary Coburn, who has been appointed chief operating officer of Horizon Technology Group.
The same paper says that three former Baltimore Technologies staff have teamed up with Fred Hanna Jr, formerly of Fred Hanna's bookshop, to start a technology company. Garrett Hussey, Hugh Larkin and Lisa Wilkinson, all of whom worked for Baltimore, have joined Hanna in setting up Swiftxt. The company intends to sell a product that allows consumers and logistics companies to track the delivery of goods more accurately. Swiftxt is trying to raise EUR300,000 to take its product to market.
The same paper says that the number of students opting to take computer science courses at some universities has fallen even lower than predicted. Trinity College says that only about 20 students have taken places on its information and communications technology course, out of a total quota of 120 places. In addition, the number of students accepting places on the computer systems course at the University of Limerick has halved to around 100.
In other news of the University of Limerick, the Irish Times reports that a world-renowned expert in software engineering is to head a EUR6.4 million research programme at the institute. Dr David Parnas will lead the five-year programme, which will focus on improving software design. The programme will be grant-funded by Science Foundation Ireland and is due to begin in October.
The same paper reports that US and European stock markets suffered heavy blows on Monday. The Nasdaq Composite index hit a new six-year low during early trading, as tech stocks were dragged down by more bleak corporate news and evidence that the US economy had taken a turn for the worse. The Nasdaq lost 2.96 percent, to finish at 1,184.97, closing below 1,200 for the first time since September 1996, while the Dow Jones Industrial Average slid 1.43 percent. Meanwhile, nearly all European markets suffered hefty losses. The ISEQ closed at 4010, a fall of 2.3 percent, London's FTSE finished down 3.1 percent, at a six-year low of 3,739.4, while Germany's Xetra Dax index closed down almost 5 percent.
The paper also says that a Cork call centre owned by Starwood Hotels and Resorts Worldwide is set to create 190 new jobs. Read the full story as reported by ElectricNews.net on Monday.
The Financial Times reports that Vodafone would be willing to increase its stake in Cegetel, the owner of French mobile operator SFR, even if a transaction did not give it management control, according to sources close to the company. The UK mobile operator has already submitted an informal STG8 billion bid to purchase the stake in Cegetel that it does not own. However, a rival bid from Vivendi Universal, which also owns a 44 percent stake in Cegetel, has forced Vodafone to be more flexible, and it is understood that Vodafone is open to increasing its stake in SFR even if management control remains with Vivendi
The same paper reports that Microsoft has no plans to enter the computer services business, contrary to analysts' speculation. Some analysts had predicted that a move into services would be logical as Microsoft seeks to enlarge its focus on higher-value software. However, company chief executive Steve Ballmer, has insisted that Microsoft intends to stick with its software-only strategy and would not move towards IT services.
According to the Wall Street Journal, Intertainer, a company that distributes movies on-line, has filed an antitrust suit against the film units of AOL Time Warner, Sony and Vivendi Universal. The suit, filed in US District Court in Los Angeles, claims that the three companies used their own on-line movie joint venture, now called Movielink, to push up the price for licensing their movies to rival on-line distributors.
The paper also reports that handheld device maker Palm's fiscal first-quarter loss widened significantly on a 20 percent drop in revenue. For the period ended 30 August, Palm posted a net loss of USD258.7 million, or USD0.45 a share, compared with a net loss of USD32.4 million, or USD0.06 a share, in the year-ago period. Of that loss, USD219.1 million came from a non-cash charge to increase the valuation allowance for the company's deferred-tax assets, a result of a change in Palm's tax-planning strategy. The company said it anticipates breaking even in its current quarter.
|
