The fruit developer has axed plans to develop its internet venture worldoffruit and has laid-off half the portal’s 20 staff.

IBM will provide technical support, geared specially to start-ups, for bmp AG and its associated companies.

The fund will focus on investments in Poland, Hungary and other Central European countries.

Chemical e-marketplace ChemUnity.com will use the funds to develop software.

CapVest Equity Partners, part owned by US insurer AIG, is launching a E1bn fund to invest in the European mezzanine market.

Protocol is paying £76m to acquire the two divisions of Spring PLC that provide supply teachers and vocational training services in the UK.

The private banking operation of Schroders intends to offer both its private banking and institutional clients a private equity fund of funds [FoF] in early 2001.

The private equity group has acquired the precision engineering businesses from the aero engine specialists for £74m.

Another public to private move by a property company produces 3i’s biggest deal this year.

The company blames market turbulence but says it will continue to invest in early-stage technology companies.