Look for Charles Schwab to be the first in the next internet wave ....Interactive TV.
Access Charles Schwab internet using your TV and digital settop box conneted thru your cable sevice.
----------First starting in Europe then the USA------
Charles Schwab investing in use of Interactive Tv:
Schwab cuts back on IT spending
By James Mackintosh
Published: November 1 2000 21:14GMT | Last Updated: November 1 2000 23:41GMT
Charles Schwab Europe, the UK's execution-only stockbroker, has cut back on investment spending in response to a sharp fall in share dealing by private investors.
The broker, owned by Charles Schwab, the leading US online broker, said on Wednesday it had delayed several IT projects until next year as a result.
The move comes after private investors fled the market in the wake of this year's slump in dotcom shares. Dealing volumes on the internet fell by a third from the first to the second quarter, but are believed to have held at about the same level since then.
"Schwab historically has managed its expenses very carefully," said Bob Duste, chief executive. "IT [dealing] has been slow over the past few months so we have deferred some projects until next year."
However, he said none had been cancelled. In particular, plans for a funds supermarket - selling mutual funds online - would go ahead, as would sharedealing via Wap phones and interactive TV.
Mr Duste said he did not expect a repeat of the "dotcom frenzy" of the early months of this year.
This had led to long delays at stockbrokers as the number of people dealing shares more than doubled, and prompted heavy investment in staff and systems by most brokers. But he remained bullish about growth.
The number of people dealing on the internet has continued to increase, but private investors are dealing less frequently, according to Compeer, the analysts.
One project that escaped the cutbacks at Schwab is a pension plan that allows customers to deal over the web in stocks held tax-free for retirement. |
