|
ODTR says it will not change terms of 3G licences | Riverdeep shares plummet after profits warning
The Irish Independent reports that NetIQ, a US provider of computer systems, is setting up an operations centre in Galway that will create 180 new jobs. Full story to follow on ElectricNews.net.
The paper also reports that shares in e-learning company Riverdeep plunged 16 percent on Thursday after an apparent profits warning from the company. It seems the company is expecting lower sales and earnings for 2003 due to its recent acquisition of Broderbund. However, there was confusion among analysts as Riverdeep failed to respond to calls. Shares are down 33 percent in the past five days and were trading at about USD8 on the Nasdaq early on Thursday.
The paper also says that Dublin-based electronic security company AEP Systems has acquired the British hardware operations of Baltimore Technologies for STG4 million. Read the full story as reported by ElectricNews.net on Thursday.
The same paper says the Nice referendum will feature electronic voting in seven constituencies. The constituencies are Dublin West, Dublin North, Meath - all of which voted electronically in the general election - and Dublin Mid-West, Dublin South, Dublin South-West and Dun Laoghaire. However, the government may have to reschedule its electronic voting plans if a legal challenge calling for proper bilingual facilities succeeds in the High Court.
The paper also reports that Bank of Ireland is expected to confirm the continuation of its IT joint venture with Perot Systems. The venture was due to be wound up until BoI's proposed IT merger with AIB was shelved. The 400 or so IT staff who have been working in the joint venture for the past four years will be informed of the bank's decision on Friday.
The paper also says that AIB has become the first bank to offer interest on credit balances in on-line business current accounts, as noted by ElectricNews.net on Thursday.
The paper adds that Telecommunication & Computer Services Ireland (TCSI) has launched Ireland's first public Internet telephone service, ePhone.ie. The Dublin company offers customers international calls at a reduced rate by using the Internet to bypass international tariffs. TCSI has spent EUR2.8 million developing its services in the last three years and is now seeking EUR1.7 million in new funding.
According to the Irish Times, the ODTR (Office of the Director of Telecommunications Regulation) will not change the terms of 3G licences for mobile operators, in spite of moves by the European Commission to persuade telecoms regulators to be more lenient. The decision by regulator Etain Doyle follows recent complaints by mobile operators Vodafone and O2 about the structure of the competition to award the licences. Speaking at an ODTR conference, Doyle said "We have had no thought about making changes," and she expressed confidence that 3G services would be launched in the Republic by 2004.
The paper also says that Eircom has criticised the way the telecoms regulator raises money from operators. The company has called for a more transparent process to ensure firms are not overcharged. Eircom also called for the introduction of a new levy system based on the same one that is used by the British telecoms regulator Oftel.
In more news on Eircom, the paper says the company has submitted bids to build fibre-optic networks in Cork, Galway and Donegal for the government's scheme to roll out broadband infrastructure. Eircom had initially opposed the project, saying it would compete with its business. It is thought the firm has now dropped its opposition in the hope of gleaning some revenue from the multimillion euro project for its construction arm.
The paper also reports on the winners of the Ernst & Young Entrepreneur of the Year Awards. Padraig O Ceidigh, managing director of Aer Arann Express, took home the main prize; Andrew Jones, managing director of Clearstream Technologies, won the Emerging Entrepreneur of the Year award; and Brian McCarthy, chief executive of Fexco, was given the International Services Entrepreneur prize.
According to the Financial Times, former Global Crossing president David Walsh was warned a year and a half before the company went bankrupt that deals it was making were questionable. Internal e-mails that have been uncovered by Congressional investigators are the first documentation that show top executives were aware that deals with other telecommunications companies could destroy the company. The mails show that officials throughout the company were aware the deals were gimmicks to create revenue. "Everyone from the president to the mail room boy knew the deals were phoney," said Ken Johnson, a senior aide to Billy Tauzin, who is chairing the inquiry into Global Crossing.
The Wall Street Journal reports that the National Association of Securities Dealers (NASD) is preparing to file administrative charges of securities fraud against Salomon Smith Barney and its former telecommunications analyst Jack Grubman. People familiar with the situation said the charges would stem from the firm's positive research reports on Winstar Communications, a telecoms company that filed for bankruptcy protection last year. The NASD is focusing on whether Grubman misled investors by touting shares of Winstar, one of Salomon's investment-banking clients, in spite of evidence that the company was in deep financial trouble.
|