Monthly Archives: January 2014

Amazon announce record-breaking profits

amazon-quaterly-revenueThe online shopping company has just reported profits $239 million, or 51 cents per share on revenue of $25.59 billion. However, these results were below expectations and Analysts were expecting Amazon to earn 66 cents a share on $26.06 billion, this fall sent shares down in after hours trading.

For it’s current quarter, Amazon says it expects to bring in net sales between $18.2 and $19.9 billion.

Amazon CEO Jeff Bezos gave a small preview on this just-reported quarter last month, boasting that it was the ‘’best ever’’ holiday sales period the company’s ever had, including an all-time record for Cyber Monday sales. Continue reading

UK University applications increase by 4%

ucasFigures from UCAS (Universities and Colleges Admissions Service) show that 87’000 more women applied than men this year.

Mary Curnock Cook, chief of UCAS, said that this “stubborn gap’’ required urgent attention.

UCAS says that although the number of 18 year olds in the population has fallen, applications within that age group are up.

With the higher tuition fees introduced in 2012, there was a concern that fewer people would apply, and although numbers did drop that year, they have been slowly rising. Continue reading

Flappy Bird, the game taking the world by storm

flappy-bird-gameiOS game ‘Flappy Bird’ been described as ‘the most frustrating game in the world’ and has topped the most downloaded charts across the world.

The game, which involves tapping the screen repeatedly to control the flight path of a bird through obstacles, seems simple enough however thousands of people have taken to Twitter to release their frustration at the addictive and difficult game. Continue reading

Lenovo Acquire Motorola for $2.91 billion

lenovo-logo-540x334Chinese smartphone manufacturer Lenovo has bought Motorola, which was previously owned by Google.

Google will retain ownership of most of Motorola’s patents, with Lenovo paying with a mixture of cash and stock.

Lenovo’s CEO Yang Yuanqing said that with the acquisition of Motorola, the company expects to sell 100 million smartphones worldwide. In 2013 Lenovo shipped an estimated 45 million smartphones, a 90% increase from 2012.

Google originally bought Motorola Mobility in 2012 for $12.5 billion, and said at the time it was mainly interested in the variety of patents that the company holds. Continue reading

RBS has set aside additional £3bn to cover PPI Claims and other financial services.

rbs-ppi-claimsThe statement outlined funds to redress complaints related to mortgages and securities, payment protection insurance and interest rate hedging products.

RBS said: “The Board of RBS has decided to provide £1.9bn covering various claims and conduct related matters affecting group companies, primarily those related to mortgage-backed securities and securities related litigation, following recent third-party litigation settlements and regulatory decisions.

“An additional £465m provision for payment protection insurance redress and related costs. Q4 2013 claims experience has continued at previous rates (c. £225m per quarter) rather than declining as anticipated and claims are now expected to continue for a longer period.

“The cumulative provision is £3.1bn, of which £2.2bn had been utilised at 31 December 2013. The remaining provision of £0.9bn covers approximately 12 months of redress and administrative expenses. Continue reading

Two million people still to make a PPI claim

Guardian PPI Claims

New research has shown that there are at least two million people still to make a legitimate PPI claim, many of which stand to reclaim thousands of pounds in compensation.

About 34m PPI policies have been sold since 2001. Around £17bn so far bas been set aside by the banks and building societies in compensation. The final bill for the banks is expected to top £20bn.

The Financial Ombudsman Service (FOS) is also expecting to tackle around 320,000 new Payment Protection Insurance (PPI) claims in 2014. In their 2014/15 plan the FOS indicated that they will tackle approximately 1.8 million front-line consumer queries.

Continue reading