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The Register - Business: Financial News
Biting the hand that feeds IT

IT firms drown as rising tide buoys rest of UK plc
24 May 2012 at 2:01am
Techy Brit biz collapse rate leaps a third

The number of British business failures eased back in April, however IT firms bucked the trend with insolvencies up by a third compared to last year.?

Brocade has printed out a whole bunch of new business cards for its sales and marketing department, just a week after releasing Q2 results that showed sales falling year on year.?

Spinning disk supremo Seagate has nailed down an agreement from Paris-based external drive products manufacturer LaCie to snap it up, and LaCie is up for it ? though the trade union and regulatory stuff is still being worked out.?

Investors in Facebook's IPO are not taking the stock's drubbing lying down and have launched lawsuits against the social network, its underwriters and NASDAQ, while regulators probe the way the debut was handled.?

Lenovo set its sights on emerging and "PC+" markets as it seeks to build on what it describes as a record year.?

Reuters is airing accusations which, if true, would cast the Facebook IPO process in a very poor light indeed. The news service claims that underwriters Morgan Stanley cut its revenue forecasts for The Social NetworkTM but withheld the information from all but a privileged few.?

Slowing sales of notebook PCs, sluggish markets in Europe and Asia, and tepid buyers in the public sector all combined to shave Dell's revenues and give its net income a serious haircut in its first quarter of fiscal 2013.?

Google has officially bought Motorola Mobility and gifted Mountain View's senior veep Dennis Woodside with the task of the running the company.?

The Barclays online banking website has been offline since about 8am BST this morning for reasons unknown.?

Tech Data Corporation, the IT distie giant and parent of Computer 2000 and Azlan in the UK, has seen net income rise to $51.7m in the first quarter of the year, despite a fall in revenue.?

Nasdaq OMX chief Robert Greifeld has said he is "humbly embarrassed" by the technical glitch that held up Facebook's IPO on Friday.?

Updated Facebook's stock tumbled below its initial public offering valuation to $37.46 per share in pre-trading figures on Wall Street this morning.?

Chinese e-commerce biz Alibaba has signed a deal to buy back half of Yahoo!'s 40 per cent stake in the company, marking the beginning of the end of their partnership.?

The CEO of Computer Sciences Corporation (CSC) said that his company's performance in the last year had been "very poor", as he announced a staggering yearly loss of $4.2 billion.?

Facebook's shares debuted on the Nasdaq today at $42 and immediately skidded downwards to the original IPO price of $38.?