Tech firms get finance boost

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times FINANCE firms replacing their computing infrastructure is driving a surge in the technology industry, according to Intel’s European boss Tristan Wilkinson.A number of major UK?finance firms have updated their systems to cope with increasing demand for high speed transactions, after a two-year lag caused by the recession.Intel on Tuesday reported a third successsive quarter of record results, 56 per cent ahead of comparative pre-recession levels.However, Wilkinson told City A.M. the firm is still “cautious” about the UK due to macroeconomic conditions, especially in the consumer sector, which saw a dip in profits. But he said: “We are not worried about a double dip recession – we see continued growth – but there is still pressure on consumer demand.”He added he does not see the impending hike in the rate of VAT, from 17.5 per cent to 20 per cent in January, as a major problem.Wilkinson added: “We don’t think it will have an explicit impact on our business. Computers are part of everybody’s lives now. It isn’t something people will stop buying. People want to be up to date, with the latest technology.”He also called for the technology sector to engage with the government in its austerity drive, saying investment in the right technology can be the difference between spending pennies and spending pounds.Intel’s results raised hopes that the technology sector could end 2010 on a strong note. However, analysts warned not all chip makers would fare as well as Intel.Intel said that by early 2011 it should close its acquisitions of the wireless unit of German chipmaker Infineon for $1.4bn (£880m) and security software specialist McAfee for $7.7bn. Both deals are seen as stepping stones into the growing mobile market. Show Comments ▼ KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLcenter_img whatsapp Tech firms get finance boost Wednesday 13 October 2010 7:23 pm whatsapp Sharelast_img read more