UK: INVESTIGATION INTO POST OFFICE DEAL WITH ICL

Article Abstract:

The Horizon computer project agreed between the UK Post Office and IT company ICL is to be the subject of a National Audit Office (NAO) investigation. The scheme aimed to offer swipe cards to benefit claimants, a move which would have safeguarded business for post offices, while also cutting benefit fraud by up to GB[pound] 320mn per year. The venture was renegotiated in May 1999, however, after the government reduced its financing. The NAO will now examine the scheme, and the new GB[pound] 1bn contract subsequently awarded to ICL. It is thought to conclude that as much as GB[pound] 881mn of taxpayers' money was wasted as a result of the change. There are claims that the second contract was offered in a political deal to ICL, in compensation for the loss of the swipe card plan.

Government regulation (cont), Central Reserve Depository, Post Office Banking Functions, Other Depository Credit Intermediation, Banking industry, Laws, regulations and rules, Post Office, Post office banks, Fujitsu-ICL Systems Inc.

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US: NEW TECHNOLOGY IS IMPROVING PERFORMANCE

Article Abstract:

Investment in information technology is at the forefront of improved economic performance in the US, although other industrialised countries are not following this example, possibly because they are using IT far less. UK performance is disappointing in comparison with that of the US because of the sheer size of the countries in terms of geographical difference. Estimates of computer hardware prices in the UK have also understated the extent to which these have fallen.

United States, Capital expenditures, Economic aspects, Brief Article

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UK: GUARDIAN IT TO PLACE 2.55MN NEW SHARES

Article Abstract:

In order to fund further purchases in its core business areas, computer support services specialist, Guardian IT, plans to raise GB[pound] 34.9mn through a placing of 2.55mn new shares.

Strategy & planning, Planning, Guardian iT PLC

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