Durlacher warns of major losses

NEWS Technology investment bank Durlacher warned the City of London yesterday that it will report substantial losses for the financial year ending June. Blaming the current downturn in the market, the company said it had been forced to revise the terms of a recent bond issue due to "challenging" market conditions. The company also said it would consider further write-downs against the cost of its portfolio. Durlacher said decreased levels of investment in the venture capital sector have inevitably impacted on the company's investment portfolio in the short term. Conditions in the technology market have worsened over the past few months, said Durlacher in a statement, as a result the company made a loss in the second half and will continue to trade negatively until the end of the year. For related news, see
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