UK: NETIMPERATIVE SAVED BY INVESTMENT

Article Abstract:

Netimperative.com, the UK based online news service, has been rescued by a GB[pound] 1mn investment by a consortium of investors. This consortium was led by Internet Business Group and Stockhouse Media Corporation of Canada, and also included Investment.com and Bright Station. The company was put into liquidation earlier in May 2000 but this rescue package is expected to save the company along with its 37 employees.

Internet Business Group PLC, Netimperative.com

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UK: BANKRUPTCIES RISE AS DOT.COMS FAIL

Article Abstract:

The Department of Trade and Industry (DTI) has revealed that the number of individuals going bankrupt rose to a five-year high between April and June 2000. According to DTI figures, there were 7,655 insolvencies during the quarter, an increase of 6.1% from the same period in 1999, and the highest figure since the third quarter of 1994. Analysts have attributed the rise to the failures of dot.com entrepreneurs to raise additional finance, following the collapse of other Internet based companies earlier in 2000. In many cases individuals had initially raised funds by mortgaging assets, or taking out overdrafts. However, the downturn in support for dot.com ventures had led to these people being forced to sell their homes, or go bankrupt when the guarantees were called in.

Corporate Profits, Business Activity NEC, Profits, Bankruptcy

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UK: REUTERS SALES RISE AND INSTINET FLOTATION

Article Abstract:

The success of its Instinet broking operation helped to lift sales at Reuters, the information provider, in the third quarter 2000. The sales increase was above analysts' expectations, despite the loss of business from investment banks due to industry consolidation. Reuters plans to float a minority stake in Instinet in the US in order to raise funds for the division's expansion. Analysts estimate Instinet's value at around GB[pound] 3bn, but this could vary depending on the fortunes of US stock market Nasdaq where it does much of its business. Table: Reuters Figures in GB[pound] mn Current Change Turnover 888 16% Instinet: Turnover 189 46%

United States, Sales, profits & dividends, Security brokers and dealers, Securities Brokerage, News syndicates, News Syndicates & Wire Svcs, Management, Economic aspects, Telecommunications services industry, Telecommunications industry, Stockbrokers, Abstract, News agencies, Reuters Group PLC

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