Tag Archives: recession

UK retailers saw a year-on-year decline in sales as excessive rain deterred shoppers from venturing to the High Street. Like-for-like sales across all sectors fell by 3.3 per cent when compared to the same period last year, according to data from the British Retail Consortium. The BBC reports that the …

Quarterly economic activity falls by 0.2%

It has finally been confirmed that the UK has once again entered into recession. The Office of National Statistics has confirmed the double-dip recession this morning, delivering a blow to the austerity-led coalition government whose main task when entering Government was to stabilise the country’s economy. The economy officially shrank …

Treasury 'undertaking extensive contingency planning'; Credit easing scheme detailed

'This is the most serious financial crisis at least since the '30s, if not ever,' says BoE governor; Spain and Italy downgraded

It has been a bleak year for music and films so far, but it’s video games that have suffered the most. Gfk and Official Chart Company data, compiled by the Entertainment Retailers Association, show the value of the UK games software market is down 12.2 per cent year-to-date over the …

EA stock down 9%; Activision down 5%; Take-Two down 9%; THQ down 8%; FTSE suffers record losses

Satoru Iwata has claimed that the best way to improve the industry’s falling sales is to abandon previous winning formulas. Speaking to Venture Beat, the Nintendo president said that gamers aren’t engaged any more by the same titles that used to shift millions and the industry needs to adapt to …

Victory for the industry as Alistair Darling talks up British sector

Reports are surfacing that IGN has made significant lay-offs to its main U.S. operation. Joystiq has published an internal memo sent by News International-owned IGN president Roy Bahat announcing layoffs. It does not detail the number of staff affected, although it does state that the company is "doing well". The …