Articles about credit crunch

The Register breaking news

UK Treasury flogs Northern Rock to flirty Virgin

Northern Rock was a major victim of 2008's credit crunch - but it survived with help from the then Labour government, which nationalised the Newcastle-based money outfit. Now the Tory-LibDem coalition is shoving it back into the corporate world. Step forward bearded biz baron Sir Richard Branson, whose Virgin Money company has …
Kelly Fiveash, 17 Nov 2011
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, 7 Jul 2009
The Register breaking news

DARPA to develop anti-Credit Crunch software

DARPA, the famed Pentagon boffinry bureau occasionally beset by marble-localisation issues, has struck again. This time, the agency seems to be seeking new mathematical tools which could - among other things - prevent any future collapses of global capitalism. The new project comes to us under the name "Survivability of …
Lewis Page, 7 May 2009
The Register breaking news

What on earth do you think you are doing, Darling?

Comment Well, wasn't that a wonderful little budget? We're broke, borrowing the entire output of many a small nation, and this as a result of the policies from the man who promised to abolish boom and bust. But it's not all bad news. Some of it is worse. Take, as a minor example, the increase in statutory redundancy pay announced. …
Tim Worstall, 24 Apr 2009
The Register breaking news

We can save the world, claim mobile operators

A modest pitch from the mobile industry - stop restricting use of spectrum and we'll save the world economy, except that restricted spectrum use is exactly what the companies are actually asking for. The pitch comes in the form of a letter to the G20 leaders, headed by industry-body the GSMA but signed by 20 of the world's …
Bill Ray, 3 Apr 2009
The Register breaking news

Manchester mobile software firm poised to go titsup

The future of EMCC Software Ltd seemed bleak yesterday evening with only a hold up at a senior creditor preventing the appointment of an insolvency practitioner. The Manchester-based company closed its doors on Tuesday, paying off staff and shutting the office, sources told The Register. The firm's web site was still up as of …
Bill Ray, 13 Mar 2009
hands waving dollar bills in the air

CRM, The Credit Crunch, and you

So the first white paper to tackle The Recession tips up in the Reg Library. As with all vendor-produced papers – this one is from Sage - there is an underlying pitch. To whit: small and medium-sized companies should invest in CRM systems (and hopefully Sage's CRM technology), even as they cut costs. Cost reductions are not …
Team Register, 24 Feb 2009
The Register breaking news

Axe poised to swing at Vodafone

Vodafone UK will tomorrow announce plans to cut hundreds of UK jobs, according to reports on Bloomberg. The cuts will be part of the ongoing cost reduction intended to reduce expenses by a billion pounds over the next 14 months. The cuts, if cuts there are, aren't entirely unexpected - Vodafone has been warning that 2008 …
Bill Ray, 23 Feb 2009
The Register breaking news

Shark attacks predict economic bubbles, says boffin

A top Florida fish boffin says that the global recession is causing a massive decrease in the number of shark attacks. George Burgess, Florida Uni ichthyologist, is fortunate enough to be Director of the International Shark Attack File, so he would know. Apparently shark assaults in 2008 numbered just 59, down from 71 in 2007 …
Lewis Page, 20 Feb 2009
The Register breaking news

Too busy to make a jam sandwich? M&S can help

Those readers who are a) too busy to remove bread from a packet, b) physically incapable of opening a jar or c) untrained in the use of a knife, will be relieved to learn that as of next Thursday Marks & Spencer will be punting a 75p jam sandwich featuring, er, bread, butter and strawberry jam. According to the Telegraph, the …
Lester Haines, 18 Feb 2009
The Register breaking news

Nokia chops and changes for cost-efficiency

Nokia will close its Jyväskylä product-development site by the end of 2009, and scale back its Salo site - a shame for those who got relocated there in the last round of cuts. Jyväskylä employs 320 people, all of whom will be affected by the closure, while the Salo site - to which staff laid off from Turku were relocated in …
Bill Ray, 12 Feb 2009
The Register breaking news

BlackBerry seduces punters but not profits

RIM, owner of the BlackBerry brand and service, has increased projections for subscriber growth, but still expects revenue to come in at the lower end of expectations. Back in December RIM reckoned another 2.9m punters would have acquired the CrackBerry habit, at which time the company expected revenue to be around $3.4bn. …
Bill Ray, 12 Feb 2009
The Register breaking news

FTC sues internet 'loan sharks' for deceptive lending

Alleged internet payday loan sharks are being sued for failing to disclose loan terms and strong-arm collection tactics by US consumers watchdogs. The Federal Trade Commission and the State of Nevada have charged 10 related internet payday lenders, many based in the UK but trading in the US, with supplying unethical loans that …
John Leyden, 14 Nov 2008
homeless man with sign

IT credit crunch comes home to roost

The weakening global economy and the tightening of credit for both companies and consumers is making it tougher for IT vendors to rely on a common tool - equipment leasing - to grease wheels and get sales. Defaults on tech leases - and indeed all kinds of capital equipment leases - are on the rise in the United States, and IT …

Immature tech likely to get lucky in credit crunch

The credit crunch is likely to produce changes in IT spending priorities that may create additional security risks. Tim Mather, RSA Conference chief strategist, said technologies such as open source, virtualisation, inter-organisation VoIP and cloud computing will gain traction as organisations look to rein in spending. How to …
John Leyden, 28 Oct 2008
The Register breaking news

Bank of England prescribes 'boredom'

Sterling hit a five-year low against the dollar this morning after Mervyn King, the Bank of England’s governor, admitted that Britain was headed for a recession. The pound is currently resting at just over $1.60, well off its $2.11 12 month high. The slide in sterling will likely make IT products more expensive in the UK, as …
Kelly Fiveash, 22 Oct 2008
The Register breaking news

Nokia tries to smile as profits slump

Nokia's third quarter results show the company feeling the credit crunch and losing ground to competitors with cheaper handsets, but still chipper about the future. Overall revenues in the quarter were €12.2bn, down 5 per cent on the year, or 1 per cent in constant currency. Operating profits came in at €1.5bn 21 per cent less …
Bill Ray, 16 Oct 2008
The Register breaking news

Credit crunch prompts Virgin Media bid to shift debt mountain

Virgin Media has persuaded banks to hold off calling in billions of pounds of debt from 1990s cable rollouts until 2012. Traders in New York, where the firm is listed, liked the plan and sent its stock up 25 per cent yesterday. Virgin Media beancounters still require permission to restructure the £4.3bn of loans from some …

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