Apple receive an iPhone boost despite a profit slump Wednesday, 24th July 2013
Apple Inc surpassed Wall Street expectations on Tuesday when sales of its marquee product, the iPhone, soared 51 per cent, propelling its stock up 5 per cent despite profit falling. Although the result may reaffirm the company’s presence in the highly coveted smartphone market, overall profit took a 22 per cent dip as gross margins slid below 37 per cent.
Panasonic to plead guilty to price-fixing allegations Friday, 19th July 2013
Panasonic has agreed to plead guilty to allegations of price-fixing according to the US justice department.
Apple dodged UK corporation tax in 2012, it emerges Monday, 1st July 2013
The technology giant paid no corporation tax whatsoever in the UK in 2012, it has emerged.
Nokia spends €1.7bn on 50% stake in Siemens Monday, 1st July 2013
As part of plans to raise its presence in the mobile networks sector, Nokia, which was formerly in search for a buyer for its 50 per cent stake due to operating losses, has surprisingly reported that it is to acquire 50 per cent stake in Siemens.
Samsung’s shares drop 3% to a 9 month low Wednesday, 26th June 2013
South Korean multinational electronics company Samsung reported a 3 per cent drop in shares on Wednesday, representing a 9 month low for the firm. The news comes as investors prepare for weaker earnings from Samsung, more than forecasted for the period of April to June. Shinhan Investment Corp has joined a number of brokerages in cutting its price for the tech giant, adding that it predicts that the smartphone company’s shipments and earnings will be lower than expected.
Former Comet owners said to be in talks to buy the retailer’s tax losses Monday, 24th June 2013
Yet more controversy as it emerges Hailey Acquisitions Limited, the company that purchased Comet for £2 back in 2011, is in talks to buy the retailer’s tax losses. It’s not the first time Hailey’s dealings with Comet have raised eyebrows. Back in 2011, the private equity firm bought Comet for £2 from its previous owner, Anglo-French electrical chain Darty.
John Lewis and Waitrose buoyant after sales growth Friday, 21st June 2013
John Lewis go from strength to strength this week following a 7.5 per cent growth in sales ahead of last year. Meanwhile, sister company Waitrose, boosted by a 25 per cent off wine and champagne promotion, recorded sales growth of 14.1 per cent. The John Lewis weekly sales report claims that sales across Home, Fashion and EHT all saw healthy growth boosted by Father’s Day sales.
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