Feeds

Lehman Brothers' India ops saved from economic meltdown

As 300 Accenture jobs die in the UK

Reducing security risks from open source software

A Japanese financial services outfit has agreed to purchase Lehman Brothers' India-based operational support businesses, rescuing roughly 3,000 people - including 1,200 IT professionals - from the worldwide economic meltdown.

The Tokyo-headquartered Nomura Holdings will acquire Lehman Brothers Services India Private Limited, Lehman Brothers Financial Services (India) Private Limited, and Lehman Brothers Structured Finance Services Private Limited - three companies set up in Powai, Mumbai in 2005.

Last month, Nomura said it would acquire Lehman Brothers' Asia Pacific franchise as well as its Europe and Middle East investment banking and equities businesses. The Asia-Pacific deal closed last week, and the Europe-Middle East will be finalized on October 13.

As you may have heard, Lehman Brothers filed for bankruptcy on September 15, after 158 years of banking. The company's high-profile demise fell between the US government's seizure of mortgage finance companies Fannie Mae and Freddie Mac and the collapse of Merrill Lynch.

But the good news from Nomura is balanced by some bad from Accenture UK. According to ZDNet UK, the consulting outfit has cut 300 to 400 jobs amidst The Meltdown. Systems integration and technology staff will be hit hardest, the site says.

ZDNet says it has obtained a company email sent to workers who may be affected by the layoffs. In the email, Accenture attributes the cutbacks on "softness in the [UK] marketplace [which] in part reflects the global economic uncertainties that many companies are experiencing and more specifically issues in the UK financial-services market." ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.