Apple and Amazon will power on through slump, say analysts

October 25, 2009

The Guardian reports on the continuing sucess of Apple and Amazon despite the credit crunch and recession.

The recession-busting technology companies Apple and Amazon have room to continue expanding during the downturn, according to analysts.

While most businesses are still struggling to cope with the effects of recession, the two American corporations saw their stock prices hit all-time highs last week after reporting rising profits. Apple’s continued success pushed its shares to a historic high of $208, while Amazon – boosted by a huge jump in profits – returned to levels above $115, last seen during the height of the dotcom boom.


Credit Crunch Literally…

June 21, 2009

Britain eats its way through recessions. When the going gets tough, the tough, it seems, tuck into pudding, says Michael Blastland in his regular BBC column.

Read more via Timetoeat.

Banking Crisis

September 28, 2008

Over the last week (okay the last year) the credit crunch has been causing major problems in the financial world.

The BBC has a whole section devoted to the crisis.

Sony Ericsson to axe 2,000 jobs

July 18, 2008

BBC reports on the decision by phone giant Sony Ericsson to cut two thousand jobs.

Mobile phone maker Sony Ericsson has said it will shed 2,000 jobs worldwide over the coming year to cut costs.

This article demonstrates the impact that the economic downturn can have on a business and organisation, and cutting costs (by axing jobs) is a response to the decrease in sales and revenue.

Sony Ericsson said

it was aiming to cut operating costs by £300m a year

The article places the blame on the state of the economy, specifically the credit crunch.

Consumer demand has been hurt by a credit crunch that has prompted banks to withdraw many loans and mortgages.

As a result, many consumers have had less money to spend and have had to cut back on their outgoings.