• Soft option PC maker Compaq is willing to "cannibalise" its core business as it turns itself into an internet company, senior vice-president Peter Blackmore said yesterday.

The company, which has lagged rivals' online sales of hardware, said it would focus on development of consumer, corporate and retail internet applications.

• Float Serial e-entrepreneur Chris Matthews, who pocketed several million pounds after the sale of internet firm Telinco Networks , is to float Hoojit , the e-commerce unit of Telinco that was not acquired by World Online International last month.

Mr Matthews said: "I have made a decision. I don't want to sell the e-commerce division, I want to float." The company would launch its first products over the next two to three weeks.