Lenovo knocks HP from top of global PC market
China's Lenovo Group edged out Silicon Valley icon Hewlett-Packard to become the world's No. 1 PC maker in the third quarter, Gartner said. A rival to Gartner, IDC, still ranks HP in the lead — but by less than half a percentage point — in terms of PC shipments worldwide. Both studies reinforce HP's struggles against rivals. This year, Lenovo bought Brazilian electronics maker CCE, valued at a base price of 300 million reais ($148 million), and US cloud computing firm Stoneware. The Chinese company vaulted into the PC market by buying IBM's personal computer division in 2005.
Greek unemployment rate crosses 25%
The unemployment rate in Greece rose to 25.1% in July, from 24.8% the month before, as the financial crisis continued to destroy jobs. Greece's statistical authority said 1.26 million Greeks were jobless in July, with more than 1,000 jobs lost every day over the past year. In the worst-affected 15-24 age group, unemployment was 54.2%. In July 2008, a year before Greece's acute financial crisis broke, there were only about 364,000 registered unemployed. Greece is surviving on international bailout loans, granted on condition of harsh austerity measures to curtail the country's large budget deficits. The economy is set to enter a sixth year of recession in 2013.
Coca Cola Hellenic quits Greece for Switzerland
Greece's biggest company, Coca Cola Hellenic, is leaving the country, the drinks bottler said on Thursday as its move to Switzerland with a London listing for its shares dealt a blow to the crippled Greek economy. The material impact on Greece may be limited — Greek plants will go on working and CCH said the 5% of its business that the world's second-ranked Coke bottler has in Greece will be unaffected. Coca Cola Hellenic, which already has secondary stock market listings in London and New York, said in a bourse filing in Athens that shareholders, most of whom are abroad, will exchange all their stock for shares in Coca Cola HBC, based in Switzerland. That stock will have its primary quote in London.
RBS scores with Direct Line’s solid market debut
Insurer Direct Line made a solid stock market debut on Thursday, marking a milestone in parent Royal Bank of Scotland's (RBS) recovery efforts. Strong demand from the general public helped RBS raise £787 million ($1.3 billion) through the sale of almost one third of Direct Line's shares. RBS has to