Thursday, 19 January 2012

24 hours of economics in 240 words! An economic snapshot number 27


For January 19th
1:29 a.m.  Heads of government apprentice schemes (SFA) have resigned!
4:50 a.m.  Facebook has unveiled 60 apps under its latest plans for expansion.
7:38 a.m.  Comet saw poor Christmas sales according to a owner kesa Electricals, like-for-like sales falling by 14.5%
During a week of internet censorship discussions, with
blackouts for bills like SOPA, Megaupload
fell, due to being the means by which millions of
pounds of revenue was lost through piracy!
10:37 a.m. Car insurance premiums are up again, according to the AA, the cheapest annual premium being up 15%, with a 5% rise in the last three months.
11:19 a.m. Pirmark’s owner AB Foods has reported a strong 12% rise in total sales in the past 16 weeks.
0:55 p.m.  RBS has denied a reported over £1million bonus for chief executive, Stephen Hester.
2:05 p.m.  Pumpkin Patch, clothing retailer, has appointed Deloitte as administrators in the UK, who stated the firm would have to close 5 stores.
3:55 p.m.  Bank of America has reportedly returned $2billion profit for the past three months, as apposed to the $1.2billion loss it made this time last year.
5:35 p.m.  Bank shares in the EU stock markets have increased, with Commerzbank’s shares, of many, rising 15%.
8:51 p.m.  Megaupload, one of the internet’s largest file sharing sites, has been shut down by U.S. officials for violating piracy laws, being accused of holding over £500million in lost revenue.
9:22 p.m.  Eastman Kodak has filed for bankruptcy protection, giving the company time to reorganise itself without facing its creditors.
9:44 p.m. Microsoft’s quarterly profits fell by $10million this year, still only making up 1/600 of overall profits.

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