The Bank of America has reported a net income of $3.2 billion for the first quarter of 2010. This compares to a $194m loss for the previous quarter but compared to the same period 12 months ago, profits are down 24%. The latest results have been driven by record trading activity and sales in the [...]
Travellers whose holiday plans have been ruined by the volcanic ash that has grounded UK flights since Thursday are facing confusion and mixed messages over travel insurance. Many travellers will face the cost of hotel rooms and care hire that hasn’t been used, although airlines are offering to rebook or refund flights. It is feared [...]
The news today about the upturn in US economic is definitely welcoming but we should not quite celebrate yet. The figures indicated that the US economy grew at a rate of 3.5% in Q3 but we have to take into account the huge government stimulus that has been injected into the economy. Part of the [...]
At the start of the global recession, the Icelandic banks famously collapse forcing the government to rely on a £6.1bn international aid package. This caused a massive drop in the value of the currency (krona), making the importing of goods extremely expensive. McDonald’s have announced that they will pull their franchised operation out of Iceland [...]
One of the world’s most famous and loved chocolate producers Cadbury, has recently had a bid from Kraft believed to be in the region of 10.2bn. Cadbury is one of the largest chocolate producers, owning stock such as trident chewing gum, halls lozenges and bassets. Cadbury has a strong British heritage, compared to the US [...]
The Cadbury bubbly chocolate bar, discontinued in 2003, successfully relaunched in 2007 thanks to social networking website Facebook. A campaign was launched by users contending with the discontinuation with the much sought after chocolate bar. The Wispa bar is a direct contender to Nestlé’s aero. Upon its relaunch, it was sold for a limited time [...]
Twenty-six years on since 1983 and now the US has achieved its highest rate of unemployment. The unemployment rate is believed to be around 9.7% although lay-off’s are supposedly easing since the beginning of the year. Ever since the recession started in 2007, the US has got rid of a total of 6.9m jobs. Worse [...]
With the current recession believed to be almost over, Network Rail has decided to axe 1,800 jobs nationwide. The move is going ahead in an attempt to reduce costs, however, this will only add to the already growing and large amount of unemployment. The rail company has insisted that they would attempt to redeploy as [...]
One of the world’s leading phone networks is believed to be up for bids between two of its biggest rivals, O2 and Vodafone. Whichever phone company wins the battle will be the country’s biggest as they will obtain the 16.6 million companies affiliated with T-Mobile. T-Mobile is currently the fourth largest phone operator in the [...]
Building societies across the country are fearing for the new rule which involves new planned regulation. Financial service authority City watchdog plan to limit riskier types of lending by building societies. The BSA (Building Societies Association) says that the proposed plans would disadvantage the industry. The BSA has made a formal submission to the FSA [...]