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They Came in Search of Better Software.

Reuters Internet News Summary
Reuters, 02.05.01, 1:11 PM ET

PARIS (Reuters) - Last year may have felt like one long crash for many Internet retailers, but a study of e-tailers and their customers showed Monday that a presence on the Net is becoming a must for retailers of every sort. Describing 2000 as a year of 'devastating defeat' for many e-tailers and their investors, consultants Ernst & Young spelled out a stark message in its report 'Global Online Retailing.'

Jury Still Out on Web Banks

NEW YORK (Reuters) - The jury is still out on the prospects for Internet banks, but Judy Bentovim isn't waiting for a verdict. The 58-year-old office manager from San Diego, California, recently put about $5,000 into a new checking account with Bank of Internet USA, a San Diego online-only bank founded last July. And she plans to set up two more cyber-accounts with the fledgling bank, another for herself and one for her father.

Chapters Ups Offer for Online Unit

TORONTO (Reuters) - Canadian bookstore chain Chapters (CHP.TO), under new management after losing a takeover battle last week, said Monday it will increase its offer to buy the minority stake in its online unit but will now pay for it in shares instead of cash. Chapters, the nation's No. 1 bookseller, was taken over last week by Trilogy Retail Enterprises. It said its new offer to minority shareholders of Chapters Online Inc.(COL.TO) is worth about $2.33 a share in Chapters common shares, up from the initial offer of $2.26 a share in cash.

Jupiter Cancels Latin E-Commerce Conference

MIAMI (Reuters) - In a new sign of slackening investor interest in the Internet companies in Latin America, research firm Jupiter Media Metrix said it has canceled a conference on electronic commerce in the region that had been scheduled to begin Monday in Miami. The same, two-day Latin American e-commerce conference last year drew an overflow crowd at a Miami hotel of some 450 executives, venture capitalists and other investors from the Americas and Europe but did not make business sense in 2001, a Jupiter- (nasdaq: JMXI - news - people) spokeswoman said.

12-Yr-Old Web CEO Joins Canada Trade Trip to China

LONDON, Ontario (Reuters) - The 12-year-old boss of a Web site design company will be one of 300 business and political leaders accompanying Canadian Prime Minister Jean Chretien on a trade mission to China next month. Keith Peiris, who founded award-winning Cyberteks Design in June 1999 and now has some 25 clients in North America, insisted in an interview that he is 'just like any other kid.' But few kids face his decisions, like whether to sell out to U.S. or Hong Kong investors for several million dollars, and what to do about would-be clients scared away by his tender years.

New Tech Tools for Tax Season

WASHINGTON (Reuters) - Even if you are disillusioned with the benefits of technology as an investment, you gotta love what it does to tax season. The tried-and-true tax software programs keep improving, and this year there is a new crop of tech tools that can help you get your return filed fast, accurately and cheap. Here's a sampling of what's out there for tax season 2001.

Hackers Obliterate Egypt Central Bank Web Site

CAIRO (Reuters) - Computer hackers have obliterated the Web site of the Egyptian central bank. The cyber attack was launched Friday morning, Ayman el-Sayed, the central bank's webmaster, told Reuters Monday. 'We are now implementing security measures to avoid this happening in the future,' he said.

UPS Upgrades Online Shipping Services in Europe

FRANKFURT (Reuters) - United Parcel Service (nyse: UPS - news - people) said Monday it is introducing improved online shipping services for customers in Europe. The U.S. parcels giant has expanded its shipping software UPS OnLine WorldShip program to allow customers to send their own customers details of shipments and tracking information in advance of the actual transport.

Cos. Hoping Investors Don't Notice Dot-Com Holdings

PALO ALTO, Calif. (Reuters) - It was not so long ago that companies were tripping over each other to broadcast all the details of the new Internet divisions they were building to avoid being left in the bricks-and-mortar dust. Now it seems they would rather people didn't know about their dot-com holdings.

Austrian Web Site Offers Help with Death And Dating

VIENNA (Reuters) - The Viennese are said to be obsessed with death -- after all, the Austrian capital is home to the only undertaker's museum in the world. Now many of those concerned with the many facets of death can satisfy their morbid interests on the Internet site (begraebnis is German for burial).

Reut13:12 02-05-01 Copyright 2000, Reuters News Service.

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