Finance and Credit

  • April 30, 2010 30 Apr'10

    European weakness a concern for Avnet

    Continued weakness in the European market remained a concern for Avnet as other geographies showed signs of coming out of recession much quicker.

  • April 29, 2010 29 Apr'10

    Ingram Micro sales growth outpaced by profits in Q1 2010

    Spurred by a stabilising global economy and product refreshes the reseller channel is looking more buoyant than it has done in years, Ingram Micro's chief executive has claimed.

  • April 23, 2010 23 Apr'10

    SCH returns to profitability

    SCH Group has returned to profitability, albeit marginal, but is not yet confident enough to call an end to the toughest recession in history amid concerns about expected cuts in UK public sector IT spending.

  • April 23, 2010 23 Apr'10

    Tech firms move closer to paying bills on time

    The time it takes for IT companies to cough up and settle invoices continues to improve as firms start to get closer to paying on time.

  • April 22, 2010 22 Apr'10

    CIOs spend limited IT budget to sharpen competitive edge

    Enterprise IT budgets are expected to be flat in 2010 but CIOs should use those funds to adopt new technologies and solve daily operational irritants that detract from strategic, competitive projects.

  • April 19, 2010 19 Apr'10

    Investors lodge Bell lawsuit in US over Avnet acquisition

    A small group of disgruntled investors have lodged lawsuits in the US against Bell Microproducts' board of directors for alleged breaches of shareholder duty by selling to Avnet too cheaply and in an unfair manner.

  • April 15, 2010 15 Apr'10

    Channel insolvencies dip in Q1 but uncertainty remains

    A slight spike in company failures at the end of last quarter could be a sign that predicted insolvency rises are materialising in the channel, Graydon UK has warned.

  • April 15, 2010 15 Apr'10

    Nimans inks leasing agreement

    Nimans has signed a new partnership with the leasing arm of French bank BNP Paribas to ease the current funding crisis in the networking channel.

  • April 07, 2010 07 Apr'10

    Channel talks of recovery and return to growth

    Ever since the recession started the hunt has been on for green shoots but with the first quarter completed those quizzed by MicroScope paint a picture of continuing customer deliberations over purchasing but a return to spending.

  • April 01, 2010 01 Apr'10

    Sugar asked to help set up credit adjudication service

    Enterprise champion Lord Alan Sugar has been called on by the government to get directly involved in its efforts to improve the flow of credit to SMEs.

  • March 31, 2010 31 Mar'10

    Avnet looking for $60m annual savings following Bell purchase

    Avnet is looking to make cost savings of $50-60m a year from its acquisition of Bell Microproducts by minimising overlapping operations.

  • March 30, 2010 30 Mar'10

    Kendall Law Group to investigate Bell sale

    A US based law firm involved in complex national securities litigation is looking into yesterday's sale of Bell Microproducts to Avnet to ascertain if shareholders got the best ROI and if the processes employed prior to the deal were fair.

  • March 30, 2010 30 Mar'10

    Darling defends credit adjudication service

    The Chancellor Alistair Darling has restated his view that a credit adjudication service is one of the best ways to help SMEs get their hands on funds.

  • March 29, 2010 29 Mar'10

    Bell Microproducts sold to Avnet for $594m

    Avnet has acquired Bell Microproducts in an all cash merger for $7 per share, valuing the distributor at $594m (£396.6m). The deal is based on an equity value of around $252m and Bell's debt position, at face value and net of cash, of $342m at...

  • March 26, 2010 26 Mar'10

    C2000 to set up Dublin office, migrates UK growth programme

    Computer 2000 is setting up a Dublin office to serve Irish resellers and plans to take across some growth programmes it has launched in the UK.

  • March 25, 2010 25 Mar'10

    Budget 2010: Destination of IT spending cuts still vague

    The consequences for future public sector IT spending remain far from clear after the Budget, with £250m of cuts promised but still left unexplained.

  • March 25, 2010 25 Mar'10

    High-street sales continue to recover

    Sales on the high street continued to rebound from the low points of last year as confidence trickled back into spending habits with non-food retailing performing strongly.

  • March 24, 2010 24 Mar'10

    Budget 2010: Credit adjudication service to challenge denied loans

    The government has pledged to lean on the banks to offer more credit and will introduce an independent body that resellers can appeal to as a way of challenging non-lending decisions.

  • March 24, 2010 24 Mar'10

    Budget 2010: Labour would not rush public sector cuts

    The government has played down the speed with which public sector jobs should come into force. Speaking in his budget the Chancellor Alistair Darling talked about the need to keep spending plans on track and protect "front line services".

  • March 24, 2010 24 Mar'10

    Budget 2010: Economy set to grow through 2010

    The Chancellor has forecast that the recovery remains on track with the economy growing at 3 to 3.5% next year as it continues to "re-balance after the recession".

  • March 24, 2010 24 Mar'10

    Budget 2010: Business confidence remains fragile

    The recovery remains fragile with borrowing still not returning to pre-recessionary levels and spending remaining low. Speaking in his budget the Chancellor Alistair Darling, said that the banks had to do more but there was also a continued problem ...

  • March 24, 2010 24 Mar'10

    Budget 2010: UK economy coming out of recession

    The Chancellor has outlined plans to support the recovery and invest in businesses of the future. In the final budget before the election, the third delivered by the current Chancellor, the word recession featured heavily but with Alistair Darling ...

  • March 10, 2010 10 Mar'10

    Card fraud falls but CNP remains constant battle for etailers

    Losses from credit card fraud have fallen for the first time in three years as the myriad industry initiatives closed the net on those perpetrating the crimes However e-tailers in the UK continue to work hard to safeguard themselves against a rise...

  • March 10, 2010 10 Mar'10

    Tech sector valuations continue to recover

    The level of mergers and acquisition activity in the European IT and telco market dipped slightly last month compared to the start of the year but continues to be a cause for optimism.

  • March 09, 2010 09 Mar'10

    IT market across EU starts to recover slowly from recession

    Growth in the ICT market across Europe is going to be a couple of points of a percent as the market slowly climbs out of the recession. Growth in the EU this year is predicted to be a mere 0.2, around €303bn, compared to a decrease of 0.8% in ...

  • March 09, 2010 09 Mar'10

    Liquidity problems holding back private equity IT investment

    Problems getting hold of finance are going to undermine potential investment in the ICT sector as private equity firms struggle to get hold of funds.

  • March 03, 2010 03 Mar'10

    Bell Microproducts Q4 sales and profits rebound

    The light at the end of the tunnel is shining more brightly for Bell Microproducts after it turned in a vastly improved set of Q4 financials. Things had looked a little bleak for the enterprise distributor which faced an expensive accountancy ...

  • March 02, 2010 02 Mar'10

    Tech Data says market share gains helped boost Q4 numbers

    Tech Data reckons it captured or held market share across all product categories in Europe during its fiscal Q4 which helped it record sales and profits gains.

  • February 22, 2010 22 Feb'10

    Marketing budgets to remain tight

    Marketing budgets are set to remain flat this year despite the worldwide economy pulling back out of recession. The prediction that the budgetary screws will remain tightly turned on marketing departments comes from Gartner, which expects 90% of ...

  • February 19, 2010 19 Feb'10

    IT insolvency rate improves again

    The underlying health of UK businesses is improving according to credit specialist Experian with the rate of insolvencies in January 2010 the lowest since June 2007 and IT company failures declining slightly.

  • February 18, 2010 18 Feb'10

    Ingram Micro Q4 sales and profits up

    Ingram Micro Q4 sales were lifted by a currency tailwind and dramatically improved IT spending in EMEA, which helped it break into year-on-year growth for the first time since the recession began.

  • February 18, 2010 18 Feb'10

    Northamber trims losses as H1 sales fall

    Northamber has managed to narrow first half pre-tax losses but sales fell as the "challenging" commercial environment continued to hit IT spending.

  • February 17, 2010 17 Feb'10

    Atos Origin '09 cost cutting improves prospects for year ahead

    Cost cutting has helped Olympic games supplier Atos Origin reduce its debts and place itself in a stronger position for the year ahead.

  • February 15, 2010 15 Feb'10

    M&A activity recovering on back of improved Q4

    Technology mergers and acquisitions in the UK fell by nearly one third last year but the recent signs of stability in the economy indicate more action will return in 2010.

  • February 15, 2010 15 Feb'10

    Reseller optimism rising across EMEA

    Resellers in the UK and Ireland believe the worst of the recession is over and this year will see continued improvement. According to a EMEA survey of channel partners carried out by CA 81% of those quizzed expect things to improve this year and a ...

  • February 12, 2010 12 Feb'10

    M&A valuations start to rise

    The prospect for renewed activity in the mergers and acquisition space has been signalled by an increase in valuations of those tech firms looking to sell this year.

  • February 10, 2010 10 Feb'10

    Channel insolvencies flat in '09 but spike predicted

    The number of channel firms going to the wall in 2009 fell marginally on the previous year according to Graydon UK data. However, the credit reference agency has forecast a hike in insolvencies in the post recessionary environment as it suspects ...

  • February 05, 2010 05 Feb'10

    Insolvencies slow in Q4 as recession eases

    The number of insolvencies fell in the last quarter with those directly connected with the computer sector showing signs of resilience in the recession.

  • February 04, 2010 04 Feb'10

    Arrow Electronics sales and profits up in Q4

    Large scale projects in the enterprise arena continue to face delays but momentum is building in the worldwide IT components market, according to Arrow Electronics.

  • January 28, 2010 28 Jan'10

    Avnet fiscal Q2 sales boosted by economic uplift

    A healthier global economy helped Avnet grow fiscal Q2 sales above the seasonal norm but favourable currency translations also lent a hand.

  • January 28, 2010 28 Jan'10

    Graydon names Norton as head of intelligence

    Graydon UK is about to welcome Alan Norton back on board as head of the IT intelligence unit. As revealed last month, the previous incumbent Mark Ancell left the credit reference agency to join Computer 2000 as general manager for risk and ...

  • January 26, 2010 26 Jan'10

    UK economy stages a weak exit from recession

    The UK economy has exited from recession but the recovery is going to be fragile for awhile with the growth figure for the last quarter weaker than expected.

  • January 26, 2010 26 Jan'10

    Tech M&A activity set to return

    Signs of recovery in the technology market continue to pileup with the level of M&A activity expected to rise this year after hitting a six year low.

  • January 25, 2010 25 Jan'10

    Fraud rises to twenty year highs

    The level of fraud in the UK has reached record breakingproportions with the number of cases coming to court topping levels not seenover the last 20 years. According to the KPMG Forensic Fraud Barometer the lastdecade saw a significant shift ...

  • January 22, 2010 22 Jan'10

    Fraud costs double previous estimates at £30bn

    Fraud in the UK is more than twice previous estimates, the National Fraud Agency (NFA) says. The true cost of fraud is closer to £30bn, more than double the previous best guess of £13.9bn in 2007 by the Association of Chief Police ...

  • January 21, 2010 21 Jan'10

    IT spending returning to growth quicker than expected

    The IT recession is on track to end earlier than expected with forecasts of a return to growth that had originally been pencilled in for 2011 being brought forward because of the improved state of the economy.

  • January 21, 2010 21 Jan'10

    Bell Microproducts to get relisted on NASDAQ

    Bell Microproducts has confirmed that its stock is to be relisted on NASDAQ, nearly two years after it was suspended. The distributor unearthed accounting irregularities dating back to 1996 that forced a costly investigation.

  • January 19, 2010 19 Jan'10

    Business financial health improved last year

    Despite the long-running recession, the financial health of many UK businesses actually improved significantly during 2009, according to the latest Insolvency Tracker report from information services provider Experian.

  • January 18, 2010 18 Jan'10

    Government fails to achieve 10 day SME payment pledge

    The Government has failed to make good on its pledge to pay SME suppliers promptly and ease the pressure on recession hit working capital.

  • January 18, 2010 18 Jan'10

    KPMG sees M&A upturn in 2010

    After a tough 12 months compounded by over-optimistic earnings expectations, accountancy firm KPMG has tentatively predicted a return to M&A growth this year.

  • January 12, 2010 12 Jan'10

    Bell Microproducts prelims point to recovery

    Bell Microproducts appears to have finally put the recent dark days of yesteryear behind it after posting preliminary fourth quarter stats that show sequential and annualised growth across nearly all geographies and many product divisions.

  • January 12, 2010 12 Jan'10

    IT recession is unofficially over

    The IT recession is “unofficially over” in Europe and the US as spending starts to pick up and reap back some of the ground lost in a tough 2009. According to the latest review of IT spending in 2010 carried out by Forrester the global IT market ...

  • January 08, 2010 08 Jan'10

    IT marketers optimistic over 2010 recovery

    Confidence in a recovery in the technology sector has spread to those in the marketing department with most marketers expecting things to steadily improve over the next 12 months.

  • December 16, 2009 16 Dec'09

    Barclays Retail ends desktop services contract with Getronics

    High-street bank Barclays is calling time on its desktop management contract with Getronics six months earlier than planned to take the function back in-house.

  • December 15, 2009 15 Dec'09

    Smarter IT procurement saves government £196m

    The government has saved £196.7m in a year by introducing IT procurementprocesses that are more collaborative. The Officeof Government Commerce (OGC) reported a total of £1.4bn savings in itsannual statement, with IT making up a ...

  • December 14, 2009 14 Dec'09

    IT spending seen as key plank of post-recession strategy

    Those resellers looking for a fillip going into the new year can take heart from the widespread recognition among CEOs that IT investment has to rise in 2010.

  • December 14, 2009 14 Dec'09

    Arrow ECS brand takes centre stage in Europe next year

    The DNS brand will be replaced by Arrow Enterprise Computing Solutions in the UK and across the rest of Europe next year.

  • December 10, 2009 10 Dec'09

    C2000 names Ancell as credit boss

    Computer 2000 has concluded its search for a new credit boss to replace Nick Tiltman - who left the company last month - with Graydon UK head of intelligence Mark Ancell due to pick up the reins from the end of January.

  • December 09, 2009 09 Dec'09

    Ingram Micro UK profits halved in 2008

    Ingram Micro UK profits halved in the last full financial year as turnover fell by low double digits. In the twelve months to 31 December 2008, the broad line giant made £2.2m compared to £5.6m in 2007 and sales fell 14% to £658m, ...

  • November 30, 2009 30 Nov'09

    Ingram finalises CCD acquisition

    Ingram Micro has taken the first step to build an enterprise infrastructure business by completing the acquisition of CCD.

  • November 24, 2009 24 Nov'09

    Tech Data cautious on spending outlook

    IT spending continues to improve according to Tech Data but it is not yet confident that the recession is over. The broad line giant has filed third quarter sales for the period ended 31 October of $5.6bn, down 8.1% on last year but up 8.8% ...

  • November 23, 2009 23 Nov'09

    IT sector shows improvement as financial strength returns

    The financial state of the IT sector continued to improve with a drop in insolvencies last month accompanied by signs that financial strength to ride out the remaining months of the recession is also returning.

  • November 18, 2009 18 Nov'09

    Northamber downbeat on Q1 performance

    Northamber has remained downbeat about the short term prospect for improvements in the market as it reported a 9% fall in sales for its fiscal first quarter.

  • November 14, 2009 14 Nov'09

    Northamber Q1 interim shows impact of uncertainty

    Northamber has revealed it has had to reduce its workforce and record a small loss for the first quarter of its financial year following the tough market conditions.

  • November 13, 2009 13 Nov'09

    Services spending to remain tight in 2010

    The move out of recession will impact different parts of the outsourcing market at varying speeds as the constraints on user budgets continue with managed service providers the best positioned to see growth.

  • November 12, 2009 12 Nov'09

    C2000 extends credit boosting scheme for SMEs

    The Credit Elevator programme Computer 2000 created for SME reseller in the past year will be extended into 2010. The initiative, which was offered to 800 UK dealers increased credit available to them by £10.5m and generated £15m in ...

  • November 10, 2009 10 Nov'09

    Micro P and Gem parent posts interim operating profit rise

    The consumer and online reseller markets helped Micro P and Gem parent DCC Sercom post increased operating profits for the fiscal first half of 2009, offsetting sluggish demand in the enterprise sector.

  • November 06, 2009 06 Nov'09

    Bell Micro returns to profit in Q3 but recovery in Europe less marked

    Bell Microproducts has taken a few more small steps on the road to recovery after returning to profit in the third quarter and re-applying to get back on the Nasdaq. The distributor this year came through an intensive investigation into accounting...

  • October 30, 2009 30 Oct'09

    Ingram Micro plans more enterprise distie buys

    Ingram Micro plans to use its $1.2bn cash in hand to further invest in the UK enterprise distribution market.

  • October 29, 2009 29 Oct'09

    Avnet Q1 profits plummet but sales stabilising

    Components and enterprise distributor Avnet has noted a continued recovery in the market as indicated by a sequential climb in its first quarter revenues, however profits have yet to rebound.

  • October 29, 2009 29 Oct'09

    IT payment performance improving, says Experian

    Business payment performance trends look to be heading in the right direction at last, according to the number-crunchers at credit and information services specialist Experian.

  • October 28, 2009 28 Oct'09

    Arrow Electronics Q3 profits fall 83% but sales stabilise

    Year-over year sales declines at Arrow Electronics' two divisions showed signs of stabilisation during the third quarter but profits fell steeply.

  • October 28, 2009 28 Oct'09

    Ingram Micro server plans rest on CCD buy

    Ingram Micro's UK bigwig reckons that with CCD on board it has the provision to start making more of a splash in the enterprise server market.

  • October 23, 2009 23 Oct'09

    Tiltman to leave C2000

    Computer 2000 credit and customer services director Nick Tiltman is leaving the company to set up a consultancy practise, after more than 17 years at the distributor.

  • October 12, 2009 12 Oct'09

    Graydon UK service to tackle credit shortfall among SMEs

    Graydon UK says the recession has forever changed the way business risk is assessed and priced, meaning that SME resellers need to be more transparent with financial information when called upon by credit insurers.

  • October 08, 2009 08 Oct'09

    Resellers riding the recession

    Despite predictions of a bloodbath, company failures in the channel fell in the third quarter amidst the toughest recession in UK history. From July to September 61 firms went to the wall, down by more than 11% on the same period in 2008, according ...

  • October 07, 2009 07 Oct'09

    Credit insurance restriction to spill into 2010

    Credit insurance could become even more of an issue for the channel in 2010 as the economy lifts out of recession and the number of companies going to the wall rises. The oft talked about proverbial green shoots are emerging, albeit sporadically ...

  • October 05, 2009 05 Oct'09

    IT budgets not returning

    IT budgets are not going to return to pre-recession levels following the contraction in the market, and resellers must prepare for the current spending constraints to continue.

  • September 30, 2009 30 Sep'09

    Small firms braced for business rate rise

    Small resellers could face a hike in business rates from next month as they are revaluated in line with the usual five year review.

  • September 24, 2009 24 Sep'09

    Northamber warns of tough times ahead as profits dive

    Northamber has again delivered a damning prognosis for the year ahead as it filed results for fiscal 2009, revealing that only interest payments from its cash in the bank and rental income kept the accounts in the black.

  • September 21, 2009 21 Sep'09

    Comstor rolls out worldwide operation

    Comstor's vice president and general manager of Europe, Jon Pritchard, is to take the helm at a new global unit, Comstor Worldwide, being created by the Cisco-specialist distributor. Vice president of global strategic relations William Corbin at ...

  • September 16, 2009 16 Sep'09

    Bell Micro accounting debacle finally over

    Bell Microproducts is finally up-to-date with SEC filings after posting first half results for 2009 and can put the restatement woes of recent years behind it.

  • September 07, 2009 07 Sep'09

    In depth: Tips for starting your own business

    There are three relatively easy ways to money: win it, marry it, or steal it. The passage of time should have taught you that there is almost no chance of winning it, it is probably too late for the second, and as for theft, prison is not an ...

  • July 01, 2009 01 Jul'09

    Euler to cut SCC credit in line with trade levels

    Euler Hermes is planning to cut the level of credit insurance provided to SCC's suppliers by 30% as it continues to downgrade exposure to the IT sector.

  • June 15, 2009 15 Jun'09

    CBI upbeat about recovery but calls for more credit

    A consensus is building that the recession is going to be less severe than had been feared and as a result hundreds of thousands of jobs could be saved.

  • June 11, 2009 11 Jun'09

    RBS changes could hit SME channel customers

    Small businesses in the channel that bank with Royal Bank of Scotland could find things getting more difficult after the bank moved to setup a separate SME division.

  • May 28, 2009 28 May'09

    Late payments continue to blight life for SMEs

    There are increasing calls of alarm at the growing number of SMEs being impacted by late payments.

  • May 15, 2009 15 May'09

    Cost of credit continues to rise

    The cost of credit has risen across Europe as a result of the downturn adding to the pressure on cash strapped channel firms looking for finance. There have been numerous calls for the banks not only to increase their lending but also to do so at ...

  • April 30, 2009 30 Apr'09

    Northamber hints at strategy shake-up

    Northamber is unhappy with declining support levels available from some of its vendors and has affirmed that it will put "a higher level of focus" on "supportive partners", paving the way for an imminent shake-up.

  • April 27, 2009 27 Apr'09

    Tories to scrutinise IT spending as part of thrift economy

    Tory leader David Cameron has put IT savings at the heart of his attempts, if elected, to reduce government debt levels as part of his focus on "thrift". Some of the obvious targets for clawing back money are around the NHS IT systems and...

  • April 24, 2009 24 Apr'09

    Insolvency Service to publish pre-pack figures

    The government is planning to publish annual reports on the extent of the use of pre-pack administrations to try and monitor the number of companies resorting to using the measure.

  • April 23, 2009 23 Apr'09

    Credit insurance scheme not necessarily magic bullet

    The channel has been warned that the government credit insurance top-up scheme is not necessarily going to be an answer for everyone.

  • April 20, 2009 20 Apr'09

    Darling aims to save £15bn in Budget

    The chancellor Alistair Darling is expected to announce savings of £15bn as a result of improved efficiencies in government departments in the Budget later this week, chiming in with calls already raised in the channel for the government to ...

  • April 20, 2009 20 Apr'09

    Worst of recession over, says CBI

    The UK economy hit rock bottom during the first month of 2009 as the recession deepened beyond all expectations but according to the Confederation of British Industry (CBI) the worst of the quarterly falls “is now behind us”.

  • April 20, 2009 20 Apr'09

    Cisco adds third layer to channel finance scheme

    Cisco Capital is adding another weapon to its armoury with the launch of a 2% rebate scheme for deals valued at £50,000 to £500,000 that comprise over 50% Cisco kit.

  • April 16, 2009 16 Apr'09

    Capital drying up for tech companies

    The capital that greases the wheels of commerce in the channel has become harder to access and its absence is undermining the ability for some companies to operate.