News

Finance and Credit

  • 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.

  • April 07, 2009 07 Apr'09

    Corporate credit availability shows signs of improving

    The availability of corporate credit appears to be easing slightly with financial directors reporting the first improvements for just under two years.

  • March 27, 2009 27 Mar'09

    Get the facts on insolvency bargains

    One of the consequences of any recession is that an increasing number of companies get into trouble and end up going into liquidation. Whenever a company goes bust, its shareholders, creditors and employees can expect to bear the brunt.

  • March 27, 2009 27 Mar'09

    Chinese money could rescue handset market

    With the mobile handset market in freefall in recent months, Chinese telecommunications equipment and network solutions provider ZTE is offering to remedy the global economic slump.

  • March 10, 2009 10 Mar'09

    HP talks up need for upturn investment

    Hewlett-Packard has used a customer event promoting improvements in its product line as a call to users to invest in technology.

  • March 04, 2009 04 Mar'09

    DSGi suffers further credit insurance cut by Euler Hermes

    Euler Hermes has given DSGi another vote of no confidence after informing suppliers that their lines will be halved again on 10 March, leading to fears that the underwriter is heading toward a complete removal of credit insurance on the troubled ...

  • February 12, 2009 12 Feb'09

    Putting a brave face on Britain’s economic freeze

    We have all grown accustomed over the last few months to gloomy economic conditions (isn't it depressing how every day seems to bring even worse news than the day before?) so it makes a change (pleasant or not) when the dominant theme becomes ...

  • February 06, 2009 06 Feb'09

    Overland cuts salaries as sales and profits dive

    Overland has highlighted slowing sales in the data storage sector, in particular to its larger OEM customers, as it sunk to a net loss of $5.2m (£3.5m) for its second quarter to the end of December.

  • February 05, 2009 05 Feb'09

    Cisco may face lay offs as profits plunge

    Cisco boss John Chambers has been forced to backtrack on previous vows to avoid redundancies, raising the spectre of mass lay offs after announcing the networking bellwether’s second quarter profits had dropped by 27%.

  • February 04, 2009 04 Feb'09

    WAN gear still top priority, says Riverbed

    A swathe of networking numbers out this week continued today when WAN optimisation outfit Riverbed weighed in with fourth quarter and full year numbers pointing to solid levels of demand for its kit in spite of the economic downturn.

  • February 04, 2009 04 Feb'09

    Writedown masks Alcatel-Lucent recovery

    Ben Verwaayen’s recovery strategy at Alcatel-Lucent has faltered after a €3.9bn impairment charge against the value of its assets knocked otherwise solid Q4 numbers for six.

  • February 03, 2009 03 Feb'09

    Cost of snow runs into billions

    The costs of the worst snowfalls for two decades is running into billions for small companies as workers stay at home and customers are kept away by the treacherous conditions.

  • January 30, 2009 30 Jan'09

    Downturn starts to impact network numbers

    Stock in Juniper Networks has slipped after the company reported preliminary financial results for its Q4'08, warning its sales growth has come in below previous estimates, amid mounting evidence that customer spend on networks is slowing in some ...

  • January 29, 2009 29 Jan'09

    Recession doesn’t faze UK tech firms

    British technology companies are more concerned with maintaining their sales rates, than the effects of the credit crunch, according to accountancy practice BDO Stoy Hayward.

  • January 29, 2009 29 Jan'09

    Mitel launches financing programme

    Mitel has formally launched a revamped version of its financing programme designed to allow its resellers to offer complete communications managed services to their customers at a significantly lower cost of ownership.

  • January 21, 2009 21 Jan'09

    Help during taxing times

    Is your business suffering a cash flow problem? Are you having problems borrowing in order to pay bills, including your taxes such as VAT and corporation tax? If so, HM Revenue & Customs (HMRC) may have a solution for you.

  • January 19, 2009 19 Jan'09

    Asset protection scheme latest government move to restore lending

    The government has launched its latest attempt to try and get the banks lending again to small businesses. By offering insurance that the banks can take out against potential bad debts the government in turn will make the lenders commit to legally ...

  • January 15, 2009 15 Jan'09

    SCH's Sir Peter discusses credit cuts with Gordon Brown

    SCH chairman and chief executive Sir Peter Rigby has met with Gordon Brown as part of the Prime Minister's regional tour of England and Wales to detail what the Government is doing to help the commercial sector in the downturn.

  • January 15, 2009 15 Jan'09

    Planning for tough times ahead

    What’s the difference between a recession and a depression? For some people, I bet there’s no difference at all. If you end up losing your job or business, your house and your hope, it doesn’t matter if we’re talking about a six month recession or a...

  • January 15, 2009 15 Jan'09

    Will government’s £20bn be enough?

    One of the features of this global downturn has been the focus on credit, with the lack of it driving many SMEs to the brink.

  • January 13, 2009 13 Jan'09

    Government on brink of £20bn SME loan scheme

    The government is expected to unveil plans to increase the loan fund available for SMEs from the current £2m to around £20bn to ease the flow of credit.

  • January 09, 2009 09 Jan'09

    SMEs finding credit harder to come by

    Despite interest rates being cut to the lowest they have been for 315 years resellers are still struggling to get their hands on credit.

  • January 06, 2009 06 Jan'09

    Vendors urged to plug SME credit gap

    Vendors will need to step in to provide finance for SMEs as credit becomes harder to get hold of for smaller companies.

  • January 03, 2009 03 Jan'09

    Government planning credit insurance fund

    Resellers will be watching with interest if mooted government plans to step in and offer credit insurance to firms becomes a real policy later this month.

  • December 16, 2008 16 Dec'08

    CMI issues gloomy forecast for '09

    The Chartered Management Institute (CMI) has compounded fears for businesses in the IT sector after publishing research today that showed managers and business leaders were very nervous about the coming 12 months.

  • December 04, 2008 04 Dec'08

    eBuyer has credit limits halved

    eBuyer has downplayed the impact that a reduction in credit insurance will have on its business after both Euler Hermes and Atradius slashed limits on the company by 50% following the disclosure of its preliminary results to them.

  • December 03, 2008 03 Dec'08

    Atradius calls for more transparency

    Resellers have been advised to put their suspicions to one side when a credit insurer comes knocking for fresh financial information or management data according to Atradius, one of the big three underwriters in the UK channel.

  • December 02, 2008 02 Dec'08

    Euler issues profit warning on back of Woolies collapse

    Euler Hermes, the largest credit insurer in the channel has issued a profit warning after being hit by the bankruptcy of Woolworths and a steep rise in claims that will drag down its profits for the year.

  • November 28, 2008 28 Nov'08

    Amlin pulls out of offering IT credit insurance

    Credit insurer Amlin has confirmed this morning that it willhonour existing contracts with clients but will withdraw its credit insuranceservices to prospective clients, reducing the number of underwriters in the UK. The major players in the UK ...

  • November 28, 2008 28 Nov'08

    SME lobby group calls for more VAT help

    The Forum of Private Business (FPB) has called on an extension of payment terms next month to help SMEs get to grips with the changes in VAT.

  • November 26, 2008 26 Nov'08

    VAT cut not likely to have channel impact

    The impact of the VAT cut on the channel is not likely to be anything major with expectations in the industry that the small drop in prices will make little difference.

  • November 25, 2008 25 Nov'08

    SME lobby groups back pre-budget report

    Small business groups have welcomed moves made by the Chancellor in yesterday’s pre-budget report to ease life for SMEs.

  • November 24, 2008 24 Nov'08

    Chancellor delivers £1bn SME finance fund

    The Chancellor, Alistair Darling has showed that he has the ability to listen to small business demands after unveiling a £1bn SME finance package.

  • November 13, 2008 13 Nov'08

    NetApp Q2 figures show buoyancy in storage

    Those operating in the storage world have always known that with data growing and compliance regulations fuelling tighter backup strategies that the market looks relatively stable.

  • November 13, 2008 13 Nov'08

    BT readies 10,000 P45s

    BT’s recent channel shopping spree has come back to haunt it as the telecoms behemoth admitted that staff costs before leaver costs increased by 2% to £1.32bn in the three months to the end of September.

  • November 13, 2008 13 Nov'08

    Intel profit warning hammers tech stocks

    Intel stock hit a 12-year low yesterday as the chip vendor revealed fourth quarter numbers will come in below previously announced expectations.

  • November 13, 2008 13 Nov'08

    Small business group lists pre-budget wish list

    13 November 2008, As could be expected the wish lists have started to come out in the run up to the pre-budget report, which will be announced towards the end of the month.

  • November 12, 2008 12 Nov'08

    Vodafone to shore up against recession

    Vodafone has vowed to head off the credit crunch at the pass after unveiling a pre-emptive restructuring programme in the wake of a 35% profit slump in the first half.

  • November 10, 2008 10 Nov'08

    Insolvencies rise amid warnings to focus on credit

    The number of IT companies falling into insolvency has risen by just shy of 5% adding to the growing evidence that companies are finding it harder to stay in business.

  • November 07, 2008 07 Nov'08

    Lenovo to respond 'aggressively' as profit slumps 77%

    Lenovo president and CEO William Amelio today pledged to "aggressively pursue growth opportunities" during the coming recession as the slowing PC market knocked back its Q2 2009 numbers.

  • November 04, 2008 04 Nov'08

    Acer delivers Q3 profits and bullish outlook

    Acer delivered a profit in the third quarter and gave retailers reason to cheer if its bullish forecasts for the final trading period of 2008 are to be believed.

  • October 30, 2008 30 Oct'08

    Alcatel-Lucent sees green shoots of recovery

    CEO Ben Verwaayen accentuated the positive as he delivered his first set of quarterly results in charge of Alcatel-Lucent this morning, with evidence of a recovery in the firm’s fortunes at long last on the horizon.

  • October 30, 2008 30 Oct'08

    British SMEs to get £4bn in aid

    Chancellor Alastair Darling revealed today he has secured around £4bn of lending for UK businesses from the European Investment Bank (EIB) up to 2011.

  • October 24, 2008 24 Oct'08

    Graydon unveils service to help resellers tackle fraud

    Graydon UK has launched a fraud busting service for resellers to help them counter the prospect of rising fraud attacks in the recession.

  • October 24, 2008 24 Oct'08

    Juniper boss sees potential despite crunch

    As another turbulent week on the stock markets draws to a close and politicians begin to openly talk about a recession.

  • October 24, 2008 24 Oct'08

    Ingram Micro still haunted by freight charging

    Ingram Micro's EMEA operation posted a $4.7m loss in the third quarter as it admitted the decision this summer to increase freight charges and walk away from unprofitable business took their toll in a weakening market.

  • October 24, 2008 24 Oct'08

    UK economy on the brink of recession

    The economy is on the brink of recession with the first slowdown for 16 years capping a week of falling exchange rates and panic following the use of the dreaded R word by the prime minister and the governor of the Bank of England.

  • October 24, 2008 24 Oct'08

    Cautious Microsoft embarks on cost-cutting drive

    Microsoft plans to wring out a cost saving of $400m to $500m (£248m to £309.6m) this fiscal year and next by reviewing its hiring plans and the amount spent on marketing.

  • October 23, 2008 23 Oct'08

    Investment tumbles as economic crisis bites

    Business investment in the channel is dropping according to Siemens Financial Services which has forecasted tough times for the second half of the year.

  • October 21, 2008 21 Oct'08

    Tech executives optimistic about medium-term recovery

    Despite the avalanche of gloomy surveys and news reports there continues to be a degree of optimism in the senior levels of the IT industry.

  • October 20, 2008 20 Oct'08

    IT dealers bear brunt of slowdown, says report

    Business rescue and restructuring consultants BegbiesTraynor have singled out the IT sector as one of the verticals most severely affected in Q3 by the gathering economic storm.

  • October 17, 2008 17 Oct'08

    IBM looks to emerging markets for growth

    After having revealed the main details of its quarterly figures last week, in a move to shore up its share price, IBM was again talking up its position on the day it was meant to have released its figures.

  • October 17, 2008 17 Oct'08

    Computacenter interm statement upbeat despite hit from banking collapse

    by Simon Quicke Computacenter has provided some cheer for those looking forsigns of robustness in the IT sector with a fairly upbeat interim managementstatement despite revealing the impact of the collapse of one major financialcuctomer. The ...

  • October 16, 2008 16 Oct'08

    Forrester warns of longer downturn in IT spending

    The IT market is set for several quarters of declining revenue as a result of the global recession rather than just a sticky end to the year and the start of 2009.

  • October 13, 2008 13 Oct'08

    IT executives call for leadership in the face of meltdown

    Executives in the IT sector are calling for calm in the face of a growing sense of alarm and panic in the business community. According to a survey from the Chartered Management Institute (CMI) although things have become worrying there are calls ...

  • October 09, 2008 09 Oct'08

    Phoenix warns of softening in half year figures

    Phoenix IT Services has unveiled a picture of the half year that show growth but contain the signs of continued softening in the market. The company has indicated pre-tax profit for the first half,which ends in September, would be up by 18% to £13m.

  • October 09, 2008 09 Oct'08

    IBM moves to rally share price with early Q3 preview

    IBM provided some cheer for those looking for signs of resilience in the IT world with better than expected Q3 figures. The vendor revealed its profits were up a week before it was scheduled to release earnings in an effort to improve its share ...

  • October 07, 2008 07 Oct'08

    SEC probes Jobs heart attack

    US financial regulators are said to be investigating the possibility that last week’s report that Steve Jobs had suffered a heart attack was an attempt to manipulate Apple’s stock price for financial gain.

  • October 07, 2008 07 Oct'08

    SAP shares slide following gloomy prelim statement

    Warnings from SAP that its business took a hit in the third quarter sent the vendors shares plummeting and indicated that most of the confidence that had been washing around the high-end of the software market has vanished.

  • October 07, 2008 07 Oct'08

    British Chambers of Commerce calls for confidence

    The British Chambers of Commerce, which earlier this summer reported that things were looking tough, has issued its latest quarterly survey indicating that recession has arrived for its members.

  • October 03, 2008 03 Oct'08

    Corel warns of tougher times to come

    Corel has joined the lengthening list of vendors displaying caution about the rest of the year. The software vendor was able to announce higher profits for its third fiscal quarter ended 31 August, but it has issued guidance downwards for the rest ...

  • October 02, 2008 02 Oct'08

    Financing still on the table for the channel

    Microsoft used its partner event yesterday to stress the importance of its financial offering with David Mitchell, senior vice president of IT research at Ovum, pointing out that deals using finance were usually larger and concluded quicker than ...

  • October 02, 2008 02 Oct'08

    Energy costs growing at a worrying speed

    Businesses are fighting an uphill battle to contain and reduce power consumption in data centres. Figures from IDC reveal the amount of energy they require is "climbing at a worrying speed" and rose by more than 13% between 2006 and 2007.

  • September 30, 2008 30 Sep'08

    Ballmer goes from upbeat to talk of non-immunity

    Steve Ballmer, chief executive of Microsoft, arrives in London tomorrow and will struggle to get the attention onto the software plus services message with most of the attention being on his view of the economy.

  • September 29, 2008 29 Sep'08

    Channel will feel the pinch

    The banking industry collapse which sent shockwaves through the global economy could have severe repercussions for all industries, and sadly the channel will be no different amid predictions that the cost and availability of credit will be impacted.

  • September 26, 2008 26 Sep'08

    Ballmer upbeat about IT industry prospects

    Those in the channel looking for some good cheer will have been cheered by comments made by Microsoft CEO Steve Ballmer about the state of the economy.

  • September 25, 2008 25 Sep'08

    IBM put on short-selling protection list

    The move to ban short-selling, the practice of trading shares on the presumption that a company will drop in value, has been the focus of moves made by the government to shore up the markets.

  • September 24, 2008 24 Sep'08

    Northamber posts results for 2008

    The downturn in the economy and an upswing in the number of reseller casualties have taken a toll on Surrey-based distributor Northamber which this morning posted results for fiscal 2008.

  • September 22, 2008 22 Sep'08

    Lehman Brothers troubles hit the channel

    As one of the world's largest banks, the bankruptcy of Lehman Brothers has sent ripples through the financial world but the collapse has also hit its hardware suppliers Morse and Computacenter.

  • September 22, 2008 22 Sep'08

    Lehman Brothers troubles hit channel

    As one of the world's largest banks, the bankruptcy of Lehman Brothers has sent ripples through the financial world but the collapse has also hit its hardware suppliers Morse and Computacenter.

  • September 19, 2008 19 Sep'08

    Financial meltdown impacts channel order books

    The meltdown in the global financial market has created a tidal wave of uncertainty among IT buyers that were already twitchy about ripples in the global economy, dramatically altering resellers’ and integrators prospect lists.

  • September 17, 2008 17 Sep'08

    Dell stocks collapse after trading update

    Shares in Dell have taken a battering; falling to their lowest level in years after the vendor reported it too was seeing softening demand in the current quarter. The news comes at a troubling time for technology stocks,which slipped this week in ...

  • September 17, 2008 17 Sep'08

    Nortel to quit metro Ethernet biz as noose tightens

    Nortel Networks has become the latest tech company to cry foul over the worsening economic climate, after revising its full-year outlook downwards, and has admitted it is seeking to explore a divestiture of its metro Ethernet network (MEN) unit.

  • September 15, 2008 15 Sep'08

    Small dealers secure after Wall Street turmoil

    The message to resellers concerned about the liquidity of business banking facilities after the collapse of Lehman Brothers and today’s rescue of Merrill Lynch, is not to panic.

  • September 09, 2008 09 Sep'08

    Credit crunch starts to show in contract delays

    A report by Forrester Research into IT services spending, overall services, strategies and priorities has confirmed the toll the economic downturn is taking on IT budgets.

  • September 02, 2008 02 Sep'08

    Economic think tank piles on the gloom

    Fresh from the gloom spread by a Panorama special on living with the credit crunch a global economic think tank has predicted the recession will start in the UK this year.

  • August 14, 2008 14 Aug'08

    Fat order book best protection against downturn

    IT services providers have continued to report strong order books insulating them from the growing effects of the downturn, as Anglo-Dutch services outfit Logica and managed security services provider Integralis both filed their first half results.

  • August 08, 2008 08 Aug'08

    Credit crunch provides some with opportunity

    The credit crunch is proving to be a benefit to those thatare pushing services and products that might face a tougher sales pitch ifbuyers were sticking with the status quo. Anecdotal evidence from players in the software and securitymarket has ...

  • July 28, 2008 28 Jul'08

    Ease targets, vendors urged

    The channel has called for vendors to start factoring the economic slowdown into their sales forecasts, as sales are on average five to 10 per cent below expectations, according to industry sources.

  • July 16, 2008 16 Jul'08

    Avaya extends 0% offer

    16 July 2008 Avaya has introduced a 0% financing offer on its IP-communications products in a move that it hopes will encourage end-users to lease Avaya kit with no interest charges or upfront costs. The promotion, which is to be made available by ...

  • July 03, 2008 03 Jul'08

    Brother launches SME leasing

    Brother has unveiled a leasing sales model to revitalise the printer market and tap into the current demand in the SME market for pay-as-you-go economic models. The leasing programme operates with a quarterly payment where customers can opt for ...

  • June 27, 2008 27 Jun'08

    Late payments threaten SMEs

    Late payments could threaten to push some small companies into administration as the credit crunch bites and the flow of cash becomes more critical.

  • February 24, 2008 24 Feb'08

    HP weighing up possibility of extending 0% financing

    Hewlett-Packard has indicated that it is in the process of evaluating the success of its zero financing on PCs, servers and storage before extending the offer across other products.

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