FINANCE – NEWS IN BRIEF

RECORD YEAR FOR BANKS

IT was a record year for banks in the US, just not one they would have wanted.  Banks were fined a total of $10.7 billion (€8.1 billion), the highest annual figure ever, by US authorities, mostly for improper mortgage practices.

 

SMART APPLE

APPLE took 53.3 per cent of the US smartphone market in the three months since the launch of the iPhone 5, up from 35.8 per cent a year ago.

 

HOMES BOOST

NEW home sales in the US rose 15 per cent year on year to the highest rate since April 2010 when sales were inflated by a temporary $8,000 (€6,000) tax credit for homebuyers.

 

JOHN LEWIS

DEPARTMENT store John Lewis has shrugged off the economic crisis after a record festive period.  The chain took £157.8million (€192 million) in the week up to Christmas, that is 26.5 per cent up on the same week a year ago.  The employee-owned retailer’s sales were more than £570m (€695 million) in the month up to Christmas.

 

 

 

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