The round up of the days main headlines from Bloomberg. The creidt crunch appears to be biting deeper and further as more warnings are seen across the whole spectrum of the global technology sector. Communications, hardware, microchips are all suffering.
BT Will Cut 10,000 Jobs This Year; Lower Second-Quarter Earnings Reported BT Group Plc, the U.K.’s largest phone company, aims to cut about 6 percent of its workforce in the year through March to improve profitability after reporting a slide in second-quarter earnings.
Nortel May Go Bankrupt as Cash Dwindles and Asset Values Decline, RBC Says Nortel Networks Corp., North America’s largest maker of telephone equipment, may go bankrupt by 2011 without a cash injection from the government or financial backers, RBC Capital Markets said.
Sprint Offers Buyouts to Employees as Mobile-Phone Customer Losses Mount Sprint Nextel Corp., reeling from the loss of 1.1 million contract customers last quarter, plans to cut costs by offering buyout packages to the phone company’s workers.
Dell Tumbles After Being Added to Goldman Sachs’s `Conviction Sell’ List Dell Inc., the world’s second-largest personal-computer maker, declined in Nasdaq Stock Market trading after Goldman, Sachs & Co. added the company’s shares to its “conviction sell” list.
Research In Motion’s BlackBerry Storm to Start Selling Nov. 21 at $199.99 Research In Motion Ltd.’s BlackBerry Storm will make its U.S. debut through Verizon Wireless next week for $199.99, taking on Apple Inc.’s best-selling iPhone 3G.
Cable News Takes Cues from Obama Campaign to Keep Viewers After Election Cable news channels, aiming to hold on to the ratings spoils of a lengthy presidential campaign, are taking cues from the victor, President-elect Barack Obama.
