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Intel executive criticises IDA method for valuing jobs | Global Crossing seeks buyer for telecoms capacity
According to the Irish Times, a senior executive at Intel has criticised IDA Ireland for its "antiquated" method of valuing jobs on a dollar-cost-per-job basis. Jim O'Hara, general manager for Ireland, said that this and other outdated State policies are threatening the Republic's ability to attract high-value knowledge industry jobs. O'Hara warned that clumsy local regulatory processes and, in particular, falling numbers of Irish students pursuing science and engineering degrees could cause the company to start "rethinking its position".
The Irish Independent reports that Network365, a Wicklow company that provides application platforms for mobile devices, has featured in Time magazine's prestigious list of "Europe's 50 Hottest Tech Firms" for the second year running.
The paper also says that Hewlett-Packard unveiled a new initiative aimed at improving the way technology is sold to Irish small-to-medium-sized businesses. The Centre of Excellence programme has been endorsed by the Small Firms Association.
The paper also reports that BuildOnline, an Irish provider of software to the building industry, has secured a EUR12 million deal by linking its business in Germany with main rival MyBau. MyBau is owned by building giants Bilfinger Berger and Strabag, and the deal will see BuildOnline secure EUR4 million in investment from the two construction firms. Read the full story on ElectricNews.Net's Investment section.
The Financial Times reports that European businesses have sustained their investment in information technology in spite of the economic downturn and dotcom fall-out but are targeting their spending more carefully, according to a new survey. The European Technology Barometer 2002, conducted by IDC, indicated that 82 percent of European companies will maintain their levels of spending on IT this year. However, the majority will focus on projects aimed at leveraging systems that are already in place.
The FT also reports that Deutsche Telekom chief executive Ron Sommer is likely to remain under scrutiny from investors and analysts as the group publishes its first-quarter results on Wednesday. Deutsche Telekom's share price slumped to an all-time low two weeks ago. Analysts are hoping Wednesday's results will provide some answers to the growing debate about whether Deutsche Telekom may be forced into a capital increase before the end of next year.
The Wall Street Journal says that Global Crossing, the fibre-optic carrier that filed for bankruptcy protection in January, is seeking buyers for over USD500 million worth of telecommunications capacity it has never used. In a confidential memo prepared in February, Global Crossing outlined various routes and original purchase prices for USD521 million in "un-integrated" capacity it purchased from other telecoms.
The Wall Street Journal also reports that WorldCom has said it will eliminate its MCI Group tracking stock, which the long-distance carrier set up last year to reflect the performance of its consumer-phone business. The move, widely anticipated on Wall Street, is the first major action by new chief executive John Sidgmore, who is trying to quickly manoeuvre the company onto sounder financial footing.
The same paper reports that the librarian of Congress, who oversees copyright matters in the US, has rejected controversial proposed royalty rates for on-line radio but has until 20 June to issue final rates. Internet music firms have said that the proposed rates could drive many small operators out of business. Many webcasters mounted a lobbying and publicity campaign against the proposal, which was announced by an arbitration panel in February.
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