NEC to axe 10,000 jobs January 26, 2012 NEC Corp said it will slash 10,000 jobs, almost one in 10 of its workers, in a bid to cut costs as competition from foreign rivals including Apple Inc pushes it deep into the red. NEC blamed its poor performance on weak demand for its smartphones amid the popularity of Apple’s iPhone in Japan, as [...]
Nintendo reports 61pc fall in profit January 26, 2012 Nintendo posted a 61 per cent drop in quarterly operating profit on Thursday and forecast a 45bn yen (£369m) operating loss for the year to March, far worse than market expectations, hit by weak sales and the strong yen. The full-year operating loss will be the first since the company started announcing earnings in their [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 25, 2012 FINANCIAL TIMES NORWEGIAN CARRIER AIMS HIGH WITH 222 AIRCRAFT ORDERS Norwegian Air Shuttle plans to buy 222 new aircraft worth $21.1bn from Boeing and Airbus in a move that heralds its ambition to become one of Europe’s leading low-cost airlines. Boeing secured its largest ever European deal through a firm order by the Oslo-based airline [...]
Nasdaq takes a bite of the prized Apple January 25, 2012 BIG profits from Apple and a promise from the Federal Reserve to keep rock-bottom rates for at least two more years powered the US stock market higher yesterrday. Apple led the Nasdaq to a one per cent gain. Shares of the maker of iPhones and iPads surged to a record, making it the most valuable [...]
How we’ll waste our time this year January 25, 2012 SONY PLAYSTATION VITA Expected: 24 February Price: £280 with 3G Sony’s long-awaited portable console is almost upon us. We now know it features both a touch-screen (expected) and an innovative touch-sensitive rear (similar to the one that failed to materialise on the iPhone 4), meaning you can control the system with swipes of your finger [...]
Please wake me up when Apple does something wrong January 25, 2012 Bouncing a ball against a wall is fun. Doing it a hundred times is still fun. But bouncing the same ball against the same wall for years on end can get a little repetitive. Finding creative ways to dress up the words “Apple,” “record” and “profits” is like bouncing that ball. For a long time [...]
FTSE flat as UK recession looms January 25, 2012 The FTSE 100 was flat after optimism from strong results from Apple in the US fell away with GDP data showing that Britain is on the brink of recession. Later today the Fed will announce its interest rate decision after the European markets close, with no change expected to the US central bank’s 0.25 per [...]
Apple surges as rush for iPhones hits record January 24, 2012 SHARES in Apple soared last night after strong demand for iPhones and iPads helped it to post record sales, smashing Wall Street profit forecasts. The world’s most valuable technology firm reported a 73 per cent rise in quarterly revenue to $46.33bn, beating the average Wall Street analyst estimate of $38.91bn. It sent Apple stock up [...]
New Europe drama closes Wall Street’s winning run January 24, 2012 US stock edged lower yesterday, ending a five-day rally for the Standard & Poor’s 500, as talks to resolve Greece’s debt crisis hit a snag and earnings from a number of blue chips disappointed. Greece moved closer to the possibility of a chaotic default as talks to restructure the country’s debt stalled. However, the US [...]
Yet another fine mess in the search for a European solution January 24, 2012 EURO-DOLLAR had another up and down ride yesterday. The release of better than expected Eurozone PMI composite figures gave the pairing an initial jump, but this brief optimisim that pushed euro-dollar up to $1.3062 quickly subsided when markets were reminded that the Eurozone is fundamentally more than a little shaky. Finance ministers rejecting a 4 [...]