Posts Tagged ‘ credit crunch ’

OK, this is an over the top, sensationalist title. But today a cash machine at HSBC failed to give me my money. So I headed over to Barclays to withdraw some cash, and that too was down. I popped inside to ask what the heck was going on, and all cash points and instore...
Read more »

Even the mighty Google is feeling that economic pinch that well call the Global Recession. The credit crunch is biting deep still and now now Google has decided that it no longer needs many of its sales and marketing staff. I guess, why would they? Much of sales and marketing is about being top...
Read more »

Bank of America has slashed Google’s target price by 23% due to a large reduction in online shopping searches. The credit crunch crisis, and resulting recession, has meant that people are restricting their online spending. Brian Pitz, and analyst for Bank of America in New York advised clients that he was down valuing Google...
Read more »

At first it seemed that there was going to be a shift from advertising on traditional paper media to more online advertising, leading to a more competitive market, and rising advertising revenues of web publishers. However, according to recent reports on Bloomberg, US online newspapers publishers saw a 3% decline in ad revenues over...
Read more »

The round up of the days main headlines from Bloomberg. The creidt crunch appears to be biting deeper and further as more warnings are seen across the whole spectrum of the global technology sector. Communications, hardware, microchips are all suffering. BT Will Cut 10,000 Jobs This Year; Lower Second-Quarter Earnings Reported BT Group Plc,...
Read more »

For the first time since records began, eCommerce profits are in recession in the UK. Up until October online sales had been in constant growth. Experian division Hitwise said UK internet traffic to online retailers fell 0.5 per cent in October compared with the same month in 2007, suggesting the consumer spending downturn has...
Read more »

Europe’s biggest computer chip maker, STMicroelectronics, has forecast a drop in final quarter profits, citing the economic slowdown and reduction of demand for mobile phones. It is expected that sales will be down 8% from the third quarter’s $2.7 billion. The economic decline and credit crunch is making consumers more cautious, and many are...
Read more »

An interesting development in the IT industry, as a result of the credit crunch and global economic downturn, is that the leading technology companies are stepping in to the lending market, which many banks and speciality lenders have withdrawn from. The credit crunch is the result of cash declining liquidity, which is caused when...
Read more »

The global recession is undoubtedly going to affect the IT industry, as it is affecting all market sectors. We have already seen warnings from Google, Yahoo and eBay, with reductions in annual growth rates. However, this does not mean that IT opportunities will dry up completely over the forthcoming months and years, as there...
Read more »

Google is planning to make less acquisitions and reduce hiring, to help to withstand the global economic downturn. Yesterday Google’s Chief Executive Officer Eric Schmidt announced that the recession means more advertising budgets are being reviewed and often pulled, and Google is having to be sensible with its expansion plans. Google’s profit growth has...
Read more »