News Burst: UK Internet firms could run out of cash

Report finds one in four floated dot coms could run out of money in six months

One in four publicly-traded UK Internet companies will run out of cash in the next six months, according to new research due Wednesday.

The report, from consulting firm PricewaterhouseCoopers (PwC), found that at their current rate of spending 25 out of 28 Internet firms will run out of cash in 15 months, due to high marketing and expansion costs.

Similar revelations in the US led to a widespread selloff of shares; companies such as Peapod and CDNow were hit by serious financial constraints.

Full story to follow.

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