GDP Falls Steeply By 1.5% With today’s figures indicating that the Gross Domestic Product fell by 1.5% over the last three months coupled with the previous quarter’s drop of 0.6% meant that the UK is finally officially in recession after two quarters of negative growth. Here is the breakdown Construction output – down by 1.1 […]
Economics
Microsoft Limps In Behind Apple With Reduced Earnings
A day after the excellent quarterly results from Apple it was Microsoft’s turn. Although revenues were up 2% to $16.63 billion, net income was down 11% to $4.17 billion, which demonstrates a significant fall in profitability. This drives the need to reduce costs and has led to confirmation that 5000 jobs will be cut at […]
Obama’s Faith In Technology Answered By Apple
Technology Is The Way Forward In the 44th president’s inauguration speech, Barack Obama talked the key role of science and technology in rebuilding the USA. “We will restore science to its rightful place and wield technology’s wonders to raise health care’s quality and lower its costs.” The Big Apple Bucking the trend of gloomy results, […]
Intel Profits Down 90% As PC Manufacturers Run Down Inventory
Intel’s fourth quarter profits took a hammering as their quarterly net income fell 90% from $2.014 billion to $0.234 billion. The credit crunch had driven revenue down from $10.217 billion to $8.2 billion. Intel decided to get all the bad news over at once this quarter with a $0.95 billion write off on their WiMax […]
Lousiest Christmas Ever On Most UK High Streets
The British Retail Consortium’s recent survey revealed Christmas 2008 as the worst Christmas ever with a fall of 3.3% in like for like sales and 1.4% in total sales compared to 2007. See the full report. However, there were a few notes of encouragement in some sectors: internet sales were 30% up on last year […]
