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Chinese Internet Sites Hit By Anonymous Attack

The hacking group named Anonymous has claimed that it has defaced nearly 500 Chinese websites. Sites that were affected in the large-scale defacement included websites belonging to the government, official agencies, and trade groups. A message which appeared on the hacked websites stated the attack had the purpose of protesting against the Chinese government, and [...]

Investors’ Better Off Buying Oil Than Gold, Says Leading Fund Manager

A leading fund manager has recently said that investors may be better off buying oil than gold. Trevor Greetham stated this when speaking to the British newspaper, the Daily Telegraph. Mr Greetham, the portfolio manager of Fidelity’s multi-asset funds, told the Telegraph that gold performed best at times when the dollar is weak and worldwide [...]

James Murdoch Leaves Chairman Post At BSkyB

James Murdoch has left his position as the chairman of the UK broadcaster BSkyB (Public, LON:BSY). He will keep his place on the company’s board. The move comes as part of attempts to distance BSkyB from the News of the World’s phone-hacking scandal at newspaper – a paper formerly owned by the Murdoch family. The [...]

Sentiment Of Canada’s Small Businesses Rises For Seventh Consecutive Month

Small business sentiment has gone up for the seventh consecutive month in Canada during March, according to the latest business barometer index by the CFIB (the Canadian Federation of Independent Business’s). The CFIB has stated that the continuing optimism indicates that smaller and medium sized companies have returned to a level of sentiment that would [...]

New Website Aims To Become Big Player In The Daily Deals Market

A new website, founded recently in the US, is aiming to become one of the big players in the daily deals market. That Free Thing, like rival sites such as LivingSocial and Groupon (Public, NASDAQ:GRPN), offers discounts on numerous products on its website every day. The site launched in the autumn of last year, and [...]

Spanish Spending Cuts Will Total 27bn Euros In 2012, Government Announces

Posted by Mary on March 30th, 2012

Spain is cutting 27bn euros from its budget in 2012 as part of one of its harshest austerity initiatives in history, the country’s government has announced. Changes are to include freezing salaries for public sector workers, and lowering departmental budgets by 16.9%.

Spain’s Deputy Prime Minister, Soraya Saenz de Santamaria, said the country was in an “extreme situation”, while the government also stated that it will raise 12.3bn euros in 2012, some of which will come through a rise in tax for big businesses.

The key measures as part of the latest cuts are the freezing of civil servants’ wages, the cutting of ministries’ budgets by up to 50%, and increases in electricity and gas bills. Unemployment benefit will also be frozen, although more positively for consumers, VAT will not rise.

The changes will also see corporation tax revenue increase by lowering deductions businesses can make, while pensions are now set to increase in line with the nation’s inflation rate.

Some economists have questioned if the cuts will be enough to satisfy other nations in Europe, particularly in the eurozone. Some analysts and economists also state that the planned cuts won’t go far enough to help Spain hit its growth target, and therefore say that further cuts may soon be needed.

Image: Ventrilock / FreeDigitalPhotos.net

Spanish Spending Cuts Will Total 27bn Euros In 2012, Government Announces

Dubai Authorities Launch Investigation Into Groupon Middle East

Posted by Hannah on March 30th, 2012

Authorities in Dubai have launched an investigation into Groupon Middle East (Public, NASDAQ:GRPN), following a large number of complaints because of the company’s poor customer service. Hundreds of complaints have been made against the daily deals giant after customers saw major delays to their orders.

Groupon Middle East is currently registered in Dubai Media City, a freezone operated by Tecom (Public, TPE:2321). Authorities there have begun the investigation into the high level of complaints against the web-based discount provider.

Tecom is a part of a conglomerate named Dubai Holding, which is owned by the Ruler of Dubai and the United Arab Emirates’ (UAE) Vice President, Sheikh Mohammed bin Rashid.

Tecom authorities are planning to meet with Groupon soon to review the matter, according to Dr Amina Al Rustamani, chief executive of Tecom Business Parks. Dr Rustamani has also said that it is still too early to give full details about the action that Groupon Middle East is likely to face.

News of the customer service problems of Groupon Middle East have come shortly after a management upheaval at the company. This month, it announced that it had parted company with its second chief executive in less than half a year, after Ainsley Duncombe left the CEO post at the firm.

Image: creativedoxfoto / FreeDigitalPhotos.net

Dubai Authorities Launch Investigation Into Groupon Middle East

General Strike Protesters In Spain Clash With Police

Posted by Rose on March 29th, 2012

During today’s general strike in Spain, which was organised to protest against the Spanish government’s labour market reforms, demonstrators have clashed with members of the police.

The nation’s government is set to reveal measures tomorrow which have the aim of both saving billions of euros, and making it simpler for businesses to sack their workers. The government is hoping the changes will lower Spain’s unemployment rate which currently at 23%, the highest in the whole of the EU.

Unions in Spain have said that over 80% of employees joined protests, as land and air travel services were affected. The government however said many services remained active.

In Barcelona, some protestors broke windows and set rubbish bins on fire. Spanish police responded through baton charges and by using tear gas. Demonstrators also gathered in other major cities, including Spain’s capital, Madrid.

Workers unions say that 800,000 people were part of the Barcelona protest, although the police said the number was only 80,000. Most demonstrations were peaceful, but some of the people protesting threw rocks at banks and shops, and started fires.

Unions have also stated that 900,000 individuals were involved in Madrid’s protest marches. The government meanwhile has not yet given any figures on the number who marched in the capital.

Image: Salvatore Vuono / FreeDigitalPhotos.net

General Strike Protesters In Spain Clash With Police

Small US Businesses Feeling More Confident About The Nation’s Economic Situation

Posted by Erin on March 29th, 2012

Small business confidence in the United States went up to its highest point in a year during the first quarter of 2012, according to a survey released this week. More small firms are also planning to increase hiring as the American economy’s prospects have improved, the poll shows.

The confidence index by Vistage International jumped to a level of 105.1 in 2012’s 1st quarter, after it was at a figure of 98.8 in the last 3 months of 2011. The figure for this year’s 1st quarter was the highest since the first 3 months of last year. The index was compiled from a March survey of over 1,850 small firm CEOs.

Hiring plans by those surveyed hit a five-year peak with 57% of businesses stating that they are making plans to create more jobs. This is a rise of 2% from the previous quarter.

60% of companies questioned also said that they think the economy has improved from this time last year, rising from 41% in 2011’s final quarter. Only 5% believed that the US’s economic situation had got worse.

The increased economic optimism has also raised the investment plans of small US enterprises, with 45% hoping to invest in new equipment – in the previous quarter 42% expected to raise investment. More small companies also expect to see increased profits, according to the survey.

Image: Sujin Jetkasettakorn / FreeDigitalPhotos.net

Small US Businesses Feeling More Confident About The Nation’s Economic Situation

House Passes Bill That Hopes To Help US’s Small Businesses

Posted by Anne on March 28th, 2012

The American President Barack Obama has endorsed bipartisan legislation this week relating to the US’s small companies. The legislation is expected to make it simpler for America’s start-up firms to bring in capital without breaching federal regulations.

The vote in the House, in favour by 380 votes to 41, overshadowed concerns from some Democrats, as well as consumer groups and unions, that the bill many cancel out previous investment protections and could result in more fraud and abuse.

Last week, the Senate approved the bill by 73 votes to 26 after including an amendment to the bill which tightened rules for seeking investors out over the web. “No” votes in both the House and the Senate were from Democrats only. Meanwhile, the new legislation has also been backed by Silicon Valley.

The legislation will combine a number of smaller bipartisan bills which excuse American start-up businesses from SEC (Securities and Exchange Commission) reporting rules, in order to lower the costs and red tape of bringing in capital.

The main provision of the new legislation will result in SEC regulations being phased in over five years to let smaller firms to go public sooner. Businesses which have yearly gross revenues which are below $1 billion will be able to benefit.

Image: Ohmega1982 / FreeDigitalPhotos.net

House Passes Bill That Hopes To Help US’s Small Businesses

Prices Of First-class Stamps In The UK Set To Rise To 60p

Posted by Julia on March 28th, 2012

The price of a first-class stamp in the UK will increase from 46p to 60p from the 30^th of April this year, after the regulator lifted some of the price controls on Royal Mail.

Prices of second-class stamps will also rise – they will move from 36p to 50p, just 5p beneath the top price which is allowed by the regulator, Ofcom. Prices of parcels, recorded post, franked mail, redirection services, and usage of PO Box will also climb.

The regulator has let Royal Mail set business mail and first-class stamp prices, while it claimed that the service’s future was at “severe risk” unless controls on Royal Mail were relaxed.

The price increase in first-class stamps, a 30% jump, and the rise for second-class stamps, 39%, marks the greatest yearly percentage-rise since 1975. A decade ago, one second-class stamp cost 19p, while first-class stamps cost only 27p each.

For most of this decade, prices for second-class stamps will have a 55p cap, although that limit could go up with inflation. Royal Mail has also said that costs of posting Christmas cards this year will be the same as in 2011 for people on Incapacity Benefit or Pension Credit and Employment and Support Allowance.

A number of analysts fear that the postage price rises will hurt small businesses, making it tougher for them to do business. The main concern however is that the raising of prices will hit many consumers hard.

Image: Matt Banks / FreeDigitalPhotos.net

Prices Of First-class Stamps In The UK Set To Rise To 60p

Small Businesses Now Able To Advertise On Twitter

Posted by Farrah on March 27th, 2012

Twitter has officially launched its self-service ad program for small companies this week. Plans for the new resource were announced earlier in the year as Twitter’s answer to AdWords, by Google (Public, NASDAQ:GOOG).

According to a number of recent reports, representatives of Twitter have revealed that only a small number of businesses will be able to access this new opportunity for the time being.

Firms will also have to be pre-selected for now and registration isn’t open to everyone as yet, but Twitter has said that the number of companies able to participate will rise in the coming weeks.

Through the new program, small businesses can promote tweets which they think are worth spreading further, through ‘Promoted Tweets’ ads. Tweets which are promoted will appear in search results and in the timelines of the followers of businesses Twitter accounts.

The service also allows users to get ads which promote their accounts. ‘Promoted Accounts’ ads will involve users paying Twitter to promote their accounts in order to help them get more followers.

According to some analysts, the success of the new service may depend upon whether advertisers find it as simple to use and as cheap as the successful self service ad platform offered by rival Facebook.

Image: FrameAngel / FreeDigitalPhotos.net

Small Businesses Now Able To Advertise On Twitter

China Set To Overtake India As The Biggest Gold Market In the World

Posted by Jaspal on March 27th, 2012

According to the World Gold Council’s (WGC) most recent annual report, China is set to overtake India to become the largest market for gold in the world this year, due to increasing investment purchases of bullion, and rising sales of jewellery.

Last year, gold sales to China rose by 20% from the year before to reach a level of 769.8 tonnes, the WGC’s Gold Demand Trends report states. The quickest growth was in the sale of gold coins and bars for investment – the total level of investment purchases of gold rose by 69% during 2011, to hit 258.9 tonnes.

According to analysts, this recent data indicates that China’s wealthy citizens are putting money in the precious metal to help protect their riches, as the Chinese government looks to tame the nation’s property prices.

China already became the largest single jewellery market throughout the globe for the latter half of last year, after demand for jewellery in the country went up during every quarter in 2011, according to the WGC.

India however remained the biggest international market for gold in 2011, although demand for the metal did drop by 7% to 933.4 tonnes. Sales of jewellery made from gold, which were about 500 tonnes, made up for the vast majority of purchases. Investment purchases meanwhile were 366 tonnes in India last year.

Image: Salvatore Vuono / FreeDigitalPhotos.net

China Set To Overtake India As The Biggest Gold Market In the World

New Site Brings Daily Deals from Groupon, KGB Deals, and Others, All To One Place

Posted by Ronnie on March 26th, 2012

A new website created by a 25 year-old entrepreneur from Glasgow is providing daily deal offers all in one place. Dealley.com claims that it can offer an easy way for UK-based daily deal customers to receive the best offers available directly to their inboxes.

According to recent reports, Glasgow-based Jordan Konopate set up Dealley.com after people mentioned to him that they regularly claimed offers from websites including Groupon (Public, NASDAQ:GRPN), Wowcher, and KGB deals, but were becoming frustrated by the levels of emails they were getting from these sites.

Some commentators have said that the high number of websites that offer discounts means that, for regular customers of daily deal companies, looking through every different deal site to find some of the best bargains can be quite time consuming.

It has been reported that the concept of Dealley, therefore, is to allow people to subscribe to the site to receive all the various deals in their city from different sites, all in one place. Dealley.com began by offering its service for customers based in Glasgow, shortly before giving services to customers in London as well.

According to some recent news reports, Dealley.com is planning to build a presence across the United Kingdom, and is also planning to expand throughout the world. Reports also claim that the site managed to attract over 10000 members in the first month after its launch.

Image: Salvatore Vuono / FreeDigitalPhotos.net

New Site Brings Daily Deals from Groupon, KGB Deals, and Others, All To One Place

Small US Businesses Planning To Increase Spending

Posted by Gary on March 26th, 2012

The highest percentage of small US businesses are now expecting to boost their spending since the recession began, recent reports have revealed. This is despite the fact that small and medium-sized enterprises in the US are still having to cope with economic uncertainty, and increasing fuel costs.

A survey by Wells Fargo & Co (Public, NYSE:WFC) and Gallup discovered that 28% of small firm owners and managers are expecting to raise their levels of capital expenditure in the next year – this is the most since the middle of 2008.

The survey also found that it has also been around four years since such a small amount of company owners – 23% – said that they were planning to cut back on their levels of spending.

Although reports indicate that firms who say that they have reduced their spending over the last year still outweigh the number who parted with significant amounts of cash over the same period, recent levels of expenditure have reached a peak since the period of recession in the US.

Some reports suggest that smaller companies are also becoming more optimistic about gaining credit. Despite this however, Gallup say that with soaring fuel costs expected to hit both consumers and businesses, more cutbacks from firms may be seen.

Image: David Castillo Dominici / FreeDigitalPhotos.net

Small US Businesses Planning To Increase Spending