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HarleyDavidson cuts jobs as demand crashes Motorbike maker HarleyDavidson said it would cut 1000 jobs and accelerate previously announced plant closures as demand for its bikes dried up. The company has already laid off about 1500 staff as a result of the downturn. TelegraphCIT rushes to secure lending, bankruptcy feared NEW YORK (Reuters) - CIT Group Inc was in discussions on Thursday with potential lenders to secure financing, after the collapse of rescue talks with the government left the company on the brink of bankruptcy. ReutersGoogle sees profits rocket despite recession gloom Internet giant Google continued to shrug off the worst effects of the recession, announcing today that it had seen an 18% increase in profits for its last financial quarter.In its latest financial results, the Californian technology giant posted net profits of $1.48bn (£901m) for the three months to the end of June, on the back of revenues of $5.52bn (£3.36bn). While that marks just a 3% increase in revenues on the same period of 2008, net profit rocketed by 18% - up from $1.25bn for the second quarter of last year.The increases, achieved through what it called 'responsible efforts to manage expenses', marked a surprise boost for the company which has so far managed to ride through the depths of the worldwide economic crisis.'Google had a very good quarter, especially given the continued macro-economic downturn,' said chief executive Eric Schmidt in a statement. 'We remain focused on investing in technical innovation to drive growth.'Over the last two years the company has started dive GuardianTwitter Attack Bigger Than Password Strength, Cloud Security Talk A recent attack on the private e-mail account of an administrative employee at Twitter led to company data being compromised. But despite the focus on password strength and cloud computing, the security risk lays in the area of password recovery and security best practices. - In the aftermath of the latest Twitter breach, much has been written about password strength and the risks of cloud computing. But when it comes to the two most recent hacks targeting Twitter employees, there are other issues involved. After all, password strength in and of itself means n... eWEEKGoogle profits rocket despite recession Internet giant Google continued to shrug off the worst effects of the recession, announcing today that it had seen an 18% increase in profits for its last financial quarter.In its latest financial results, the Californian technology giant posted net profits of $1.48bn (£901m) for the three months to the end of June, on the back of revenues of $5.52bn (£3.36bn). While that marks just a 3% increase in revenues on the same period of 2008, net profit rocketed by 18% - up from $1.25bn for the second quarter of last year.The increases, achieved through what it called 'responsible efforts to manage expenses', marked a surprise boost for the company which has so far managed to ride through the depths of the worldwide economic crisis.'Google had a very good quarter, especially given the continued macro-economic downturn,' said chief executive Eric Schmidt in a statement. 'We remain focused on investing in technical innovation to drive growth.'Over the last two years the company has started dive GuardianCisco to Lay Off Up to 700 Workers, More Layoffs to Come Cisco plans to cut about 1 percent of its work force of 66,500 as part of a limited restructuring announced in February. More jobs are expected to be dropped at the world's largest IT networking company later in 2009. - Not even highly successful IT companies with plenty of cash in the bank are immune from layoffs during this down economy. Cisco Systems, the world's largest IT networking vendor and the builder of much of the Internet, said July 16 that it is laying off between 600 to 700 employees about 1 pe... eWEEKOil slips below $62 as traders eye company results SINGAPORE (AP) -- Oil prices slipped below $62 a barrel Friday in Asia as investors weighed mostly positive second quarter corporate results against signs of sluggish crude demand.... The Arizona RepublicVideo: CIT On Brink Of Bankruptcy CIT is the nation's largest lender to small businesses and companies such as Dunkin' Donuts and Dairy Queen. CIT received $2.3 billion in bailout funds but may file bankruptcy. Nancy Cordes reports. CBS NewsCisco Trims 700 Workers - More Layoffs to Come World's largest IT networking company to cut about 1 percent of its work force of 66,500 as part of a limited restructuring announced in February 2009. More jobs are expected to be dropped later this year. - Not even highly successful IT companies with plenty of cash in the bank are immune from layoffs during this down economy. Cisco Systems, the world's largest IT networking vendor and the builder of much of the Internet, said July 16 that it is laying off between 600 to 700 employees -- about 1 pe... eWEEKTop Five Compliance and Ethics Steps Critical to Surviving Tough Economic Times Corpedia offers 10 free tools to help companies assess code of conduct, policies and controls, risk sdcexec.com1 2 3 4 5 |
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