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London Stock Exchange (LSE) is set on a merger with Singapore Exchange in a move that would make it the third largest exchange group in the world.

Chief executive of the LSE Group, Xavier Rolet, has been holding talks in recent weeks with his counterpart in Asia, Magnus Bocker, about the potential benefits of merger, according to The Telegraph.

Reports suggest that because Singapore has larger market capitalisation of £4.4bn against LSE’s £2.8bn, it is likely that the Asian exchange will take over its London rival.

If the deal were to go through, the LSE/Singapore tie-up would be the third largest exchange group in the world, in terms trade volumes, behind NYSE Euronext and Nasdaq OMX.

However, even if the deal got support from the groups’ shareholders, it would still be subject to regulatory approval from the European Union (EU) and Singapore authorities.

LSE went live last year with its new Millennium IT trading platform, which is developed in C++ programming language and runs on SUSE Linux. It replaced its previous TradElect platform, which was written in C#, based around Microsoft .Net architecture on Windows Server and SQL Server.

However, no detail has been provided on how LSE’s Millennium platform would integrate with Singapore’s SGX QUEST system.

The LSE has a long-standing history of failed courtships with other exchanges. Last year LSE failed to secure a tie-up with Toronto’s stock exchange, TMX, after a consortium of Canadian banks and pension funds received political backing.

In other recent news, LSE’s CIO, Antoine Shagoury, has also been appointed to the role of group chief operating officer at the company. In his new role, Shagoury will look after all aspects of the group’s business operations in addition to his existing technology management responsibilities.

Read Mike Lynch's columns on CIO UK here

Autonomy founder Mike Lynch is planning to set up a technology investment fund for start-ups.

According to sources close to the situation, the fund will be based in London but invest in new companies around the world, Bloomberg reported, citing people with knowledge of the plans.

Lynch left HP in May, less than a year after Autonomy was acquired by the IT giant for $10.3 billion (£6.7 billion), with Lynch earning £500 million from the sale. According to sources, the entire Autonomy management team and 20 percent of all the British company’s staff had left since the HP takeover.

These include president Sushovan Hussein, chief financial officer (CFO) Steve Chamberlain, chief technology officer (CTO) Pete Menell, chief marketing officer Nicole Eagan, chief operating officer Andy Kanter, and Martina King, head of Lynch’s more recent pet project, the augmented reality platform Aurasma.

Former Autonomy executives are believed to be involved in Lynch’s new investment fund, and will use their expertise to help start-ups in its portfolio grow, Bloomberg said.

Lynch has previously voiced his support for start-ups, having grown Autonomy from a 10-strong group of entrepreneurs to a FTSE100 company.

Start-ups are where the opportunities lie for young IT people to lead change in the industry, he told Computerworld UK in an interview last year.

He also said that the UK government should encourage start-ups in the UK by giving IT entrepreneurs a capital gains tax break.

By Greg Cochrane
Newsbeat music reporter

The original line-up of girl band Sugababes have regrouped and launched under a new name called Mutya Keisha Siobhan.

A spokesperson for the trio confirmed they have signed a recording deal with Polydor and that they are writing songs for an album.

Formed in 1998 the original line-up released singles like Overload, New Year and Soul Sound.

The final original member to leave Sugababes was Keisha Buchanan in 2009.

Line-up changes

The current line-up of the Sugababes is Heidi Range, Amelle Berrabah and Jade Ewen.

The announcement comes after months of rumours that a possible reunion could be on the cards.

Sugababes formed in 1998 and released their debut album in 2000

They have reportedly collaborated on songs with Emeli Sande and producer Naughty Boy.

In their first interview as their new outfit Keisha Buchanan told website Popjustice that she couldn't talk about the use of the Sugababes name.

"Basically, I can't say too much about it," she said. "Legally I've been told I can't speak about it."

Siobhan Donaghy was the first member of the first line-up to leave the band in 2001.

She was replaced by ex-Atomic Kitten singer Heidi Range.

Mutya Buena followed her in December 2005 saying she was leaving the band for "personal reasons" before starting a family.

Both Siobhan and Mutya subsequently went on to release solo material.

Keisha Buchanan left Sugababes in 2009.

In 2011 she told Newsbeat that she still "can't talk" about the reasons for her split from the band which left them with no original members.

"Legally I can't go into too much detail," she said. "I've got no hard feelings towards anyone and I understand that life has to go on."

Mike Hesson has been confirmed as the new head coach of New Zealand and has been handed a contract until the end of the 2015 World Cup. Hesson, 37, previously spent six years in charge of Otago and took over as Kenya's head coach after last year's World Cup, but quit after 10 months in the role due to concerns over the safety of his family and their quality of life in Kenya.

He beat the Glamorgan mentor and former New South Wales coach Matthew Mott for the role, while the New Zealand and Delhi Daredevils assistant Trent Woodhill also missed out. John Wright will remain in charge until the end of the ongoing tour of the West Indies and Hesson's first tour with the squad will be the upcoming trip to India, which begins with a Test in Hyderabad on August 23.

He will become New Zealand's fifth coach in less than four years. John Bracewell stood down in December 2008 and his successor Andy Moles lasted barely a year. Mark Greatbatch then took over in January 2010 before being replaced by Wright, who spent 16 months in the job before deciding not to renew his contract beyond this year's Caribbean tour.

Wright cited differences with John Buchanan, New Zealand Cricket's director of cricket, as one of the reasons he had decided not to continue in the role. Buchanan said Hesson would bring a fresh approach and new energy to the New Zealand side.

"We were impressed with the way Mike presented himself and he was the stand-out applicant from a strong field of candidates," Buchanan said. "Mike has been a successful first-class coach with the Otago team in recent years and has also had valuable experience working with New Zealand A sides. He also spent some time assisting the Black Caps coaching staff during the 2010 Chappell-Hadlee Series and we're fortunate to have secured his services for the national team.

"Mike's impressive career path also includes the SportNZ Elite Coach Accelerator Programme where he not only had the honour of being selected for the programme, but finished as one of the highly commended participants. He will bring a freshness and new energy to the side and we know he is more than capable of developing and growing the team as we work towards the ICC Cricket World Cup 2015."

As a player, Hesson represented Otago's second XI but did not reach first-class level, and focused on coaching from a young age. In 1998 he became the youngest person to attain NZC's level three coaching qualification and from 1998 to 2004 he was the coaching director for Otago Cricket, before he took over as the national coach of Argentina.

From 2005-06 until 2010-11 he was the head coach of Otago and delivered them a one-day title and a Twenty20 title, and during that time he also served as the head coach of New Zealand A. David White, the chief executive of NZC, said Hesson had all the right coaching credentials to be successful in the job.

"He was earmarked early in his career as one of the most talented coaches in New Zealand and it's pleasing to be providing an opportunity to someone who is so deserving," White said. "Mike is highly regarded by his peers, the players he has worked with and the wider family of cricket and I believe he is exactly what the Black Caps need as we look to move our team forward."

Hesson will be taking over a side that sits seventh on the ICC Test rankings, as they stand before the West Indies series, and eighth in the ODI rankings. One of his early challenges will be to guide the side through the ICC World Twenty20; New Zealand are sixth on the ICC T20 rankings but failed to move beyond the group stages in the past two World T20 events.

"Having the opportunity to coach the Black Caps is very special for me," Hesson said. "I am passionate about cricket in New Zealand and doing the best job I can for the players and the fans of cricket in this country. My coaching philosophy is essentially built around setting world-class standards to produce excellence and that's what I intend to do with the Black Caps. It's a big challenge but one I'm ready for and excited about."

Brydon Coverdale is an assistant editor at ESPNcricinfo. He tweets here

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