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.
April 15, 2009
BBC reports on improvements in interest in the UK housing market.
Interest from home-buyers is starting to gain “real momentum”, although sales remain low, UK surveyors say.
The housing market is a traditional indicator of the strength of the UK economy. Once people start buying houses, this can kick start the economy, as people start to buy new things for their new homes.
March 6, 2009
BBC reports on Mosaic going into administration.
Mosaic, which owns some of the most famous brands on the UK High Street, has gone into administration, with debts of about £400m.
But most of the group, including Oasis, Karen Millen, Warehouse and Coast have been immediately sold to Mosaic’s main creditor – Icelandic bank Kaupthing.
As the recession deepens it would appear that more and more retailers are going into administration.
February 28, 2009
The BBC Click programme looks at how online retailers are going to prosper in the recession whilst high street retailers suffer, fall into administration and close.
The credit crunch might be bad news for high street stores who see fewer people step through their doors but it is proving to be good news for web retailers.
Many hope their green credentials and more secure payment systems will encourage more customers to take their mouse shopping rather than their car.
February 6, 2009
The BBC reports on the huge increase in the number of businesses going bust!
There has been a huge rise in the number of firms going bust in England and Wales because of the recession.
The Insolvency Service said that in the last three months of 2008 there were 2,428 corporate insolvencies such as administrations and receiverships.
That was a 220% rise on the same period the year before.
This of course has an impact on suppliers of those businesses as well as the immediate impact on the employees.
This kind of negative news, along with job losses reported across the country makes consumers behave in the very way in which reinforces the recession, as spending reduces and firms cut back on production.
Things will start to change once the economy starts to feel that it is at the bottom and has higher expectations about the way in which the economy is moving.
More on the economic environment in which businesses operate.
January 23, 2009
BBC reports that the country is in recession:
The UK is now in recession for the first time since 1991, official government figures have confirmed.
Gross domestic product fell by 1.5% in the last three months of 2008 after a 0.6% drop in the previous quarter.
That means that the widely accepted definition of a recession – two consecutive quarters of falling economic growth – has been met.