Lucent to axe 15,000 more jobs in second overhaul
The
Financial Times, Times and Daily Telegraph report another
restructuring operation at Lucent Technologies, the global
equipment maker, that will cost some 15,000 jobs. The Times reports
that the company has had a much bigger than expected quarterly loss
of £2.2bn. The paper also suggests that total job cuts could reach
65,000 by the end of the year. Some 3,000 job losses are expected
to occur in the UK.
Vodafone now trails BT and Orange
Only the Independent
does not give prominence to the news that Vodafone now trails
British Telecom and Orange in terms of the number of active mobile
phone customers it has in the UK. The Times and Daily Telegraph
quoted figures on the fall in Vodafone subscribers - down from
12.55 million to 10.54 million.
Egg scrambles for new customers
The Guardian, Times and
Daily Telegraph report that internet bank Egg is predicting it will
earn a profit in the fourth quarter after first half losses fell
from £80.7m to £63.4m. The bank added 370,000 customers in the
first half but is now looking to spread its net into Europe. The
Guardian leads with the bank's moves toward France and
Germany.
Napster names Hilbers as new chief executive
The
Financial Times and Guardian report that Napster, the web media
group, has named Konrad Hilbers, a former Bertelsmann chief
executive, as its new chief executive. The Guardian reports the
story in terms of Bertelsmann tightening its grip on Napster.
Best of the rest
The Financial Times reports:
Qualcomm, the mobile
communications technology company is to scrap plans to spin off its
chip business, following a top management shake up and
restructuring.
Amazon.com shares fell 24.7% after the company reported gloomy
prospects for revenues over the rest of the year.
AT&T has indicated anyone wanting to buy its cable division
will have to come up with more than $70bn. The last bidders Comcast
offered around $40bn.
The Times reports:
Bill Gates has given a donation of
£2.6m to be distributed to 350 libraries in the most deprived parts
of the UK.