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Markets News Afternoon: Microsoft announces worldwide availability of new Windows 7; Shares down in Europe - - up in US
By Finfacts Team
Oct 22, 2009 - 4:48:47 PM
Today Microsoft announced the worldwide availability of its new Windows 7 operating system.
It said Windows 7 delivers on a simple premise: make it easier for people to do the things they want on a PC. The new operating system offers a streamlined user interface and significant new features that make everyday tasks easier and allow people to get the most out of computers of all styles and sizes.
“With Windows 7, there’s never been a better time to be a PC,” said Microsoft CEO Steve Ballmer.“Together with our partners, we’re bringing more choice, flexibility and value to the market than ever before. With Windows 7, you’re sure to find a PC that fits your life.”
Compared with XP, Windows 7' predecessor Vista, was a clunky disaster with simple routines unnecessarily complicated, even just renaming an image directly in a picture folder.
Microsoft's Windows 7 smashed US sales records, becoming the highest-grossing presale item on Amazon.com. "This is the best version of Windows ever," Jean-Philippe Courtois, president of Microsoft International, said Thursday.:
UK retail sales flat
UK retail sales remained flat for a second straight month in September according to the Office for National Statistics, leaving them 2.4% higher than a year ago.
Textile, clothing and footwear sales volumes dipped .5% on the month while sales of non-specialised stores, which includes department stores, were up by 0.5%. Sales of household goods rose 0.3%.
The retail sales deflator fell to -0.5% in September compared with a year ago. That was the fourth straight month it has been negative, signalling retailers are still having to cut prices.
In a separate report, the Bank of England said the flow of lending to UK businesses improved sharply in August but still remained negative, with major banks reporting a rise in spreads and fees on new lending.
Revenue
The Irish revenue reported today that more than €150m of tax owed by businesses has been written off so far this year. Most of the writedown relates businesses failing.
The figure compares to €129m written off for the whole of last year.
Liquidations, receiverships and ceased trading accounted for €101m of that figure.
US markets
The Dow Jones Industrial Average rose 50 points Thursday to return to the 10,000 level, supported by the Conference Board's index of leading economic indicators data.
The Standard & Poor's 500 rose 0.06% and the tech-dominant Nasdaq fell 0.4%.
The US Conference Board Leading Economic Index (LEI)for theUS increased 1.0% in September, following a 0.4% gain in August, and a 1.0% rise in July.
The US Labor Department reported that initial claims for jobless benefits rose by 11,000 to 531,000 in the week ended Oct. 17th. The previous week's level was revised from 514,000 to 520,000.
Nokia announced today that it has filed a complaint against US tech firm Apple with the Federal District Court in Delaware, alleging that Apple's iPhone infringes Nokia patents for GSM, UMTS and wireless LAN (WLAN) standards.
"I share the concern that there may be in the end insufficient financial reform, as the most acute phase of the crisis is over and people may become too relaxed," Tommaso Padoa-Schioppa, chairman of Promontory Europe, told CNBC Thursday:
In Europe, the Dow Jones Stoxx 600 fell 1.19% Thursday.
On Wednesday ICON announced net revenue of $220 million for its fiscal third quarter, down 2.3% on the same period a year earlier. Income from operations increased by 12% to $30.4 million during the third quarter, compared to $27.1 million for the same three-month period in in 2008 while the operating margin rose to 13.8% from 12 %.
Net income totalled $24 million, compared with $21.4 million last year, an increase of 12%.
On the New York Mercantile Exchange, oil for November delivery is trading at $80.69 down 68 cents from Wednesday's close. In London, Brent crude for December delivery is trading at $78.88 a barrel.
Sweden's SEB Bank reported a 99% fall in third-quarter profit as credit losses in the Baltic region weighed. "We've been building up provisions for credit losses in the Baltics for over 1.5 years," CEO Annike Falkengren said. "What's been positive this quarter is that we started to see a stabilization of these provisionings":
Currencies
The euro is trading at $1.5000 and at £0.9043.
For live currency updates, check the right-hand column of the Finfacts home page.The dollar traded at a record low $1.6038 per euro on July 15, 2008.
