Baltimore departure fuels rights issue speculation

Fran Rooney, chief executive of beleaguered Baltimore Technologies, has resigned. City pundits are already suggesting the decision pre-empts an imminent rights issue from the beleaguered internet security business. It doesn't take Sherlock Holmes to see why either. The Irish business is thought to have a cash burn rate of around £100m a year but had only just over half that amount at the end of last month. Couple this with the group's warning last week that revenues for the quarter ended June 30 had slumped to £15.5m from £23.7m in the previous quarter and any assumption that it's in ...