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Articles about Recession

Brit IT industry comes up for air after recession

There are fewer corporate pile-ups on the channel highway than at any point in more than a decade and a half, official stats from credit reference agency Graydon UK reveal. Some 31 firms bit the dust during the second quarter of calendar '14 - the joint lowest rate since 1998 - way down on the 89 recorded a year ago or the 61 …
Paul Kunert, 09 Jul 2014
Vodafone UK booster brolly

Recession-battered Europeans still squeezing Vodafone's pips

Mobile operator Vodafone is still feeling the recession's squeeze in Europe as it posted another drop in revenues for the quarter ending last month. The British group said its service revenue, including joint ventures, for the quarter was £10.155bn, down 3.5 per cent year on year following a 4.2 per cent slip in the previous …
European Union Flag

Euro recession over as sales rebound for mega distie Ingram Micro

Economic recovery on both sides of the Atlantic – and to a lesser extent sales of Apple's iPhone in certain countries across Europe – helped Ingram Micro offset declines in its mobility and Asia Pacific wings… but only just. First calendar quarter revenues at the world's bulkiest tech distie went up one per cent year-on-year to …
Paul Kunert, 24 Apr 2014
The Register breaking news

Official: Britain staggers into double-dip recession doom

Britain has slipped back into recession, preliminary figures released by the Office of National Statistics showed this morning. The UK economy shrank by 0.2 per cent in the first quarter of 2012. That's the second consecutive GDP nosedive, which technically means fears of the country falling into a double-dip recession have now …
Kelly Fiveash, 25 Apr 2012
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UK channel firms rabbit-punch recession in Q4: Sales are HUGE

Blighty is again the largest tech sales territory in the European channels* after distributors reported a near double-digit growth spurt in Q4, fuelled by mobility, software and er... desktops. Numbers are in from Context, which tracks all major wholesalers' sales-out data - the kit that customers are actually buying - showing …
Paul Kunert, 27 Jan 2014

Recession? Pah! Check out our swollen digits - CCS Media

CCS Media is laughing all the way to the bank after reporting soaring profits for calendar 2012 in spite of rocketing costs and biting economic conditions. The Chesterfield-headquartered reseller reported operating profit of £1.38m compared to £669,000 in the previous year, and net profit moved up to £1.07m from £468,000. Sales …
Paul Kunert, 21 May 2013
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Micro P parent does it AGAIN, kicks recession in nackers

DCC Sercom, parent of Brit IT distie Micro P and games console wholesaler Gem, has again laughed in the face of a flatlining local economy. Turnover in the tech division of Irish conglomerate DCC grew 17.9 per cent to €2.27bn (£1.92bn) for the year ended 31 March 2013, and a whopping 16.8 per cent of this was organic. The group …
Paul Kunert, 14 May 2013
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UK recession rattles Sage's cage as revenue growth flattens

The Sage Group is keeping close tabs on the UK economy amid fears of the "exposed risk of a renewed recession". The mid-market British accounting software maker hit out after posting first half revenues of £661.2m, up 2 per cent for the period ended 31 March excluding results of the disposed US healthcare biz. Sales included a …
Paul Kunert, 09 May 2012

The server racket recovers from the Great Recession

Sales and shipments of servers are both approaching levels seen in the run-up ahead of the Great Recession in late 2007. This was thanks in large part to the voracious appetite for iron of hyperscale data center operators such as Amazon, Google, and Facebook, and despite cautious investments by enterprises outside of the cloudy …

Hefty Euro reseller: 'We laugh in the face of recession. Ha ha'

Specialist Computer Holdings (SCH) tweaked the nose of the recession to record double-digit sales and profit rises in fiscal 2012 ended March. According to unaudited numbers seen by El Reg, the Midlands-based parent of reseller SCC and distie group SDG grew turnover 10 per cent to more than £2.75bn and operating profits by 50 …
Paul Kunert, 25 May 2012
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Kelway Holdings sales shoot up despite recession

Kelway Holdings sales shot up in fiscal year ended 31 March - no mean feat in he dire economy - but the acquisition of ISC caused costs to swell and working capital ratios were hit. The parent of acquisitive London-based Kelway UK grew turnover 34 per cent to £350.7m including a full year's worth of trade from ISC Networks, …
Paul Kunert, 11 Sep 2012
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Gartner predicts global double-dip recession

Analysts at Gartner are prophesying a global double-dip recession that will test the mettle of corporate CIOs and squeeze budgets, but predict that businesses will continue to invest in IT. "The second recession is about to hit," Peter Sondergaard, senior veep for research at Gartner told an audience of around 8,500 industry …
Paul Kunert, 18 Oct 2011

My big reveal as macro-economics analyst: It's a load of COBBLERS

Welcome to the first Worstall at the Weekend, where I get to spout off on whatever I jolly well please: where the aim is to leave something at least potentially gravid with further thought and discussion rather than that sterile deposit one ends up with inside the barber's weekend supplies. Which brings us to the discussion of …
Tim Worstall, 24 Aug 2014
The Register breaking news

Recession drives pies sky high

Market research outfit Mintel has revealed an interesting side-effect to the global economic recession: pie sales are up as cash-strapped Brits look to cheap, "hearty" fare to fill their grumbling bellies. Indeed, sales of pies rose five per cent last year, reaching an impressive £941m. Mintel senior analyst Vivianne Ihekweazu …
Lester Haines, 17 Sep 2010
The Register breaking news

Music spending stops defying recession (and gravity)

Despite a booming live concert and festival scene, consumer spending on music is down again, according to an economic analysis of "wallet share" - how much people actually fork out for the stuff. Whether this is bad news or not as bad as it could be is a fascinating question. According to Will Page, economist at the PRS (or as …
Andrew Orlowski, 19 Apr 2011
The Register breaking news

Men suffer most in recession

Research from the Equality and Human Rights Commission found men are suffering more than women from the recession. Young people are getting it worse than older people - the over-50s seem to dealing with the downturn better, maybe because they're prepared to be more flexible. But if you're a disabled man with few qualifications …
John Oates, 11 Oct 2010
homeless man with sign

Server sales up, but Great Recession lingers

Server spending was solid in the second quarter, according the box counters at IDC and Gartner, with both shipments and revenues growing in the wake of the Great Recession. But don't jump to the wrong conclusion. While server shipments are up where they belong, revenues have yet to recover to their pre-recession levels. …
globalisation

EMC emerges from recession doldrums

EMC is emerging from the recession, with revenues back to where they were a year ago, but higher quarterly profits. The company recorded $4.1bn revenues for its fourth 2009 quarter which was just two per cent higher than the $4.02bn recorded in 2008's last quarter. However, without increased VMware revenues - $607m compared to $ …
Chris Mellor, 26 Jan 2010
The Register breaking news

Small biz sees signs of recession ending

Small business group the British Chamber of Commerce sees some signs of the recession ending, but warns the recovery is still a fragile beast. The group's quarterly survey found some improvements, especially in manufacturing, but warned that progress was weaker than it was in the third quarter of 2009. The BCC believes the UK …
John Oates, 12 Jan 2010
The Register breaking news

Recession exacerbated Jobcentre computer woes

Research has revealed that IT problems hindered Jobcentre Plus in dealing with an influx of people at the beginning of the recession. Glitches and crashes in the services's computerised job vacancies database, the Labour Market System (LMS), exacerbated delays experienced by unemployed people. The research, commissioned and …
Kable, 18 Feb 2010
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Gods of tech distribution smile on Blighty in Q1

Distributors in almost half of the countries across Western Europe failed to register sales growth during Q1 but those with ops in Blighty were not among them. Sales out data from Context reveals UK market revenues climbed 12.4 per cent in the three months to €2.5bn, making it the largest sector in the region for the past four …
Paul Kunert, 06 May 2014

DCC, parent of Micro P and Gem, posts 15% boost in yearly profits

DCC Technology, parent of UK disties Exertis Micro P and Gem, danced on the grave of the recession in its latest financial year ended 31 March, reporting top and bottom line growth spurts. The IT division of the Irish conglomerate - formerly DCC Sercom - turned over £2.26bn, a leap of 22.4 per cent on a year ago, and made an …
Paul Kunert, 21 May 2014

Dip in Blighty's titsup tech firms... but what about the ZOMBIES?

An eerie calm has descended in the UK technology channel* as company failures stabilise and the recession lifts, but with legions of undead corporate corpses stalking the land, an insolvency storm could now be brewing. That was the prognosis of experts in the credit and insolvency sectors, a week after UK GDP figures from the …
Paul Kunert, 01 Nov 2013

Reselling in the recession: Make the CIO your best buddy

We all know times are pretty tough economically at the moment and the channel is no different from anywhere else. This climate has forced new ways of thinking and improved strategies for coping with industry-wide spending constraints. Increasingly, to be successful, channel partners need to have conversations with the Chief …
Tim Ayling, 20 Aug 2012

Kcom: Whoops – our traditional carrier biz is going nowhere

Brit telco Kcom this morning issued a stark warning about the state of customer demand for traditional carrier services – as it outlined an unremarkable set numbers for its fiscal 2014 year. The LSE-listed supplier of broadband and tech services, which this week secured a £200m revolving credit facility until June 2019, saw …
Paul Kunert, 06 Jun 2014
Ubisoft Driver San Francisco

Banning handheld phone use by drivers had NO effect on accident rate - study

Recent legislation banning the use of handheld phones by drivers had basically no effect on the number of road accidents, according to a new study. “If it’s really that dangerous, and if even just a fraction of people stop using their phones, we would expect to find some decrease in accidents,” says professor Daniel Kaffine, who …
Lewis Page, 21 Jul 2014
The Register breaking news

BCC calls recession bottom

The British Chambers of Commerce has called the bottom of the recession. In its latest survey of 5,600 companies the BCC found some confidence returning, but warned it was early days to talk of real recovery. But the lobby firm warns that the government needs to act to protect their view that "the worst is over". The group …
John Oates, 07 Jul 2009

Death by 1,000 cuts: Mainstream storage array suppliers are bleeding

Great beasts can be killed by a 1,000 cuts, bleeding to death from the myriad slashes in their bodies – none of which, on their own, is a killer. And this, it seems, is the way things are going for big-brand storage arrays, as upstarts slice away at the market with converged systems, virtual SANs, all-flash kit, hybrid devices, …
Chris Mellor, 21 Aug 2014
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Telefónica bids for Vivendi's Brazilian bits: Telecom Italia gasps

Spanish telecoms giant Telefonica’s unexpected €6.7bn bid to buy Brazilian broadband operator GVT, which is owned by French media conglomerate Vivendi, has put the cat among the pigeons across the Mediterranean at Telecom Italia, Italy’s largest telco. Telefonica, which owns O2 in the UK, is already the largest mobile operator …
Faultline, 08 Aug 2014
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IT recession is no more, says study

We're coming into the home stretch of 2009, and this is the time when the IT prognosticators come out of the woodwork to make their predictions and projections for the new year. The wizards at Computer Economics - which makes a business out of measuring IT spending, salaries, and other technology trends - is calling an end to …
Stained glass angels

Cisco COO: 'I actually thank God that we had a crisis'...

Cisco's chief operations chappie has a heart of gold: Gary Moore has thanked the big man upstairs - not his boss - for the economic meltdown that forced it to send thousands of workers to the scrap heap. In summer 2011, the networking giant was getting sweaty under the collar about dragging its costs more in line with revenues …
Paul Kunert, 05 Jun 2014

Intel teams up with rap chap 50 Cent on heartbeat headphones

The rapper 50 Cent has hooked up with Intel to get his headphone firm making kit for the health-tech wearables set. The pair plan to produce a set of cans which monitor vital stats at the same time as bombarding fit folks' ear drums. Following in the footsteps of the music producer turned Apple employee who self-identifies as " …
Jasper Hamill, 15 Aug 2014
The Register breaking news

Recession forces software escrow releases to jump by 150%

A software escrow provider has reported a 150% increase in source code releases in 2009, compared with 2008. NCC Group said businesses’ relationships with software suppliers have been strained by recessionary pressures. Software escrow is the holding by a third party of the crucial, and secret, source code that underpins a piece …
OUT-LAW.COM, 06 Jan 2010

Over half of software developers think they'll be millionaires – study

IT automation-tool supplier Chef has sponsored a study that it says shows software developers are "emerging as a new power class" who believe their jobs are recession-proof, and that money will flow to them like honey. "Traditionally considered a disenfranchised group that was underappreciated and not well understood in business …
Rik Myslewski, 14 Apr 2014
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DiData stares down the recession

Dimension Data grew revenue by 19.4 per cent in 2010, although this was flattered by moves in its main currencies - especially the South African Rand and the Aussie dollar. Stripping out currency moves, the reseller still grew sales by 9.9 per cent and margins were up from 4.9 per cent to 5 per cent. Revenue for the year ended …
John Oates, 17 Nov 2010

Boffins: Antarctic glacier in irreversible decline, will raise sea levels by 1cm

A massive Antarctic glacier is in irreversible decline and will add up to a centimeter to world sea levels in the next 20 years, claim polar scientists. A new paper in Nature Climate Change describes how the Pine Island Glacier (PIG) has been shedding ice into the ocean at a dramatically increasing rate. Using observations on …
Iain Thomson, 15 Jan 2014
globalisation

Recession prompts job cuts at PC World call centres

Capita will cut up to 42 jobs at call centres it runs for PC World owner DSGi in Sheffield and Nottingham because of falling call numbers. The outsourcing giant informed staff of the redundancy programme, which will hit mainly team leaders, on Monday. Those affected today enter a 30 day statutory consultation period. Some may be …
homeless man with sign

VMware results virtually untouched by recession

VMware turned in solid fourth quarter and full year results, growing in spite of the recession as server and desktop consolidation cost-saving projects remain popular with customers. The company reported fourth quarter calendar 2008 (Q4 08) revenues of $515m, up 25 per cent on Q4 07, and GAAP net income of $111m ($0.29/share) …
Chris Mellor, 27 Jan 2009
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Dixons Retail and Carphone Warehouse mull merger

Dixons and Carphone Warehouse (CPW) today confirmed they are locked in negotiations that may or may not lead to a merger. "These discussions are at a preliminary stage and there can be no certainty that a transaction will be forthcoming," the pair said in a joint statement this morning. As such, no decision has been made …
Paul Kunert, 24 Feb 2014
The Register breaking news

Koreans, Apple frolic through mobile recession

Mobile phone market estimates show progress by the two Korean giants and Apple - but make grim reading for everyone else in the hardware business. Strategy Analytics says handset shipments fell 4 per cent in the last quarter from a year ago to 290.5m - but forecasts a rise of 3 per cent in Q4 over 2008 - "signalling an end to …
Andrew Orlowski, 30 Oct 2009
The Register breaking news

Recession will destroy 40,000 UK IT services jobs

Just under 40,000 UK IT services jobs are expected to disappear by 2010, although then the sector will slowly begin to recover. In 2008 there were 559,000 people employed in IT services - this is expected to fall to 542,000 this year, 522,000 in 2010 before rising to 528,000 in 2011. Not until 2013, when there should be 573,000 …
John Oates, 23 Jun 2009
The Register breaking news

CPW aims to keep recession victims connected

TalkTalk subscribers won't be cut off if they are unable to pay their bill for up to six months during the recession, provided they can pay line rental, boss Charles Dunstone pledged today. From January 30, the struggling TalkTalk customers who call customer services will be considered on a case-by-case basis to switch to the " …
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EMC shows storage recession is over

Storage bellweather EMC has signalled the end of the recession in storageland with an enviable set of results. It made record first quarter revenues of $3.9bn, up 23 per cent from a year ago. Net income was $373m, a whopping 92 per cent increase from the recession-blighted first 2009 quarter. Highlights were 28 per cent year-on- …
Chris Mellor, 22 Apr 2010
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IT's recession could be bottoming out

The information and communication industry could have hit the bottom and it is software which will lead us out of the trough. The Organisation for Economic Co-operation and Development's report on ICT and its role in the recovery saw the first signs of an upturn in May/June. The group saw decline across all sectors of the …
John Oates, 29 Jul 2009
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Worst of recession is past but tech jobs harder to find

The Confederation of British industry has declared the worst of the recession to be over, but techies are still finding it a struggle to find work, with unemployment not set to peak until next year. The CBI, which represents almost a quarter of a million companies, said that UK GDP should flatten out in the coming months, with …
Joe Fay, 15 Jun 2009
The Register breaking news

CV lies multiply in recession, says survey

More would-be bankers than ever are lying on their CVs, according to an annual lie-check conducted by an employee screening company. Powerchex says that 19% of job candidates in the financial services industry had a discrepancy on their CVs. The company said that the number of CVs containing lies submitted to IT contracting …
OUT-LAW.COM, 12 Aug 2009
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McAfee sales strong despite recession

McAfee bucked the trend of poor financial news from the IT industry by posting strong results that exceeded analyst expectations on Thursday. The security software firm's Q4 revenues came in at $424m, an increase of 19 per cent compared to the $356m recorded in Q42007. Q42008 profits hit $45.4m, up from $12.2m in the same period …
John Leyden, 13 Feb 2009

UK tech channel in RUDE health as bankruptcies dip in Q1

It's time to crack open the bubbly: corporate fatalities in the UK channel have fallen for the fourth consecutive quarter, official stats from credit rating firm Graydon UK reveal. Some 61 companies bit the dust in the first three months of the year versus 64 for the same period of 2013, indicating that the UK IT industry has …
Paul Kunert, 04 Apr 2014
The Register breaking news

Counter terror cops prep for recession funding squeeze

The UK's top counter terror cop is preparing to make cuts for the first time, as the recession hits the public sector, he revealed today. Assistant commisioner John Yates, head of the Met's counter terror command, said he didn't think even the most high profile police work will escape the knife after 2011 when the current …
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2014: The year of the cloudy biz bankruptcy... or maybe it isn't?

Once again the channel has proved to be a hardy bunch as insolvencies remained pretty much stable in 2013, despite a meltdown in some areas of tech infrastructure spending. Some 293 resellers bit the dust in the previous calendar 12 months, versus 285 in the previous year: a 2.8 per cent rise. 66 hit the wall in Q4, up from 57 …
Paul Kunert, 23 Jan 2014