Articles about Accounting

IBM: Illegally Bleeding Mortgages (...allegedly)

IBM has found itself in the crosshairs of the US government after one of its subsidiaries has been accused of financial fraud. A lawsuit [PDF] filed in the US District Court of Southern New York accuses both Big Blue and its Seterus loan servicing company of taking more than $13m from Fannie Mae in reimbursements it was not …
Shaun Nichols, 04 Aug 2016
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Liberata in £43m buyout by Japanese firm OUTSOURCING Inc

OUTSOURCING Inc (OSI) – a Japanese player that does what it says on the tin – has acquired UK public sector BPO specialist Liberata for £43m. The buyer is has spread its tentacles via more than 70 subsidiaries into outsourcing across multiple industries including engineering, manufacturing, administrative and recruiting. …
Paul Kunert, 02 Aug 2016
 People photographing bollywood actor Vivek Oberoi with smartphones

Smartphone sales stall at ~3.5 million per day

Smartphone sales have just about stalled at the disappointing figure of about 3.5 million a day, each and every day of the year. Analyst firms Canalys and IDC last week both released the results of spreadsheetery covering the year's second quarter, both finding sales ticked up a million or so compared to 2015's second quarter …
Simon Sharwood, 01 Aug 2016
Ink hands

What's ordered in Vegas, doesn't stay in Vegas? $6.7m of printer ink 'stolen by office worker'

A Las Vegas woman stole printer ink worth $6,715,531 from her employer and sold it to a reseller on the other side of America, it is claimed. When Jennifer McCain-Bray worked as a purchasing analyst for the Las Vegas Valley Water District – a public utility – she ordered millions of dollars of extra printer ink and toner, had …
Iain Thomson, 30 Jul 2016
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Google and Microsoft are playing catchup with AWS's cloudy power

AWS continues to dominate the cloud infrastructure market but Microsoft and Google are growing faster than the book-punting behemoth, research from Canalys shows. None of which will be much comfort to the hardware vendors who have been wrong-footed by the speed at which the cloud has been embraced by their traditional business …
Joe Fay, 29 Jul 2016
Google's Sundar Pichai, speaking at Google I/O 2015

Google, er, Alphabet takes on 10,000 more staff, banks more and more billions from ads

Alphabet, the holding company for Google and the Chocolate Factory's other concerns, has reported strong growth in the second quarter ending June 30, with revenues up 21 per cent from this time last year. Google made up the vast majority of this revenue, accounting for $21.3bn for the quarter, with the other parts of Alphabet …
Iain Thomson, 28 Jul 2016
Cloudy server conceptual illustration. Photo by Shutterstock

Larry Ellison's Oracle swallows Larry Ellison's part owned Netsuite for $9.3bn

Database titan Larry Ellison’s Oracle is slurping NetSuite - a company he and his family already own a big slice of - for a cool $9.3bn (£7bn) to help him compete better with Salesforce, another firm he part owns. The buy will see Oracle splash $109 per share on the first ever purveyor of software clouds: NetSuite was set up …
Kat Hall, 28 Jul 2016
Two beer glasses clash and splash frothy beer into the air. Cheers! Photo by Shutterstock

BOFH: Free as in free beer or... Oh. 'Free Upgrade'

Episode 10 "I TOLD you, I HATE working on printers!" I seethe at the Boss. "It's just a bit of configuration," he wheedles, trying to make me feel better. "It's not a bit of bloody configuration, it's translation - from IT into printer manufacturer speak." The Boss is in a pickle. The printer company cretin came crawling around and …
Simon Travaglia, 22 Jul 2016
Microsoft CEO Satya Nadella

Microsoft Azure doubles up to $800m a quarter – and is wiped out by dying phone sales

Analysis All eyes were on Microsoft's cloud business today as it published its fourth-quarter and full-year financial results. Amid the numbers, Redmond boasted that its Azure revenues from the quarter were up 102 per cent year-on-year – we estimate the cloud service's revenue to be about $800m in total for the period. Meanwhile, …
Iain Thomson, 20 Jul 2016

If we can't find a working SCSI cable, the company will close tomorrow

On-Call Welcome again to On-Call, our Friday fumble through memories of jobs on which things didn't go as planned. Or sometimes went in ways it's not possible to plan. This week, meet “Jean” who in the early noughties scored a gig as “a fairly new-to-the-game support engineer for a shifter of overpriced household furniture.” Jean …
Simon Sharwood, 15 Jul 2016
Barracuda_cloud_sea

Barracuda picks teeth after chowing down on cloud market

Revenues grew 11 per cent year-over-year to $86.7m in Barracuda’s first fiscal 2017 quarter, confirming its return to growth. Net income was $2.8m. Recurring subscription revenue grew to $65.3m, up 20 per cent from $54.3m in the year-ago quarter and 75 per cent of total revenue. Appliance revenue though, was down, at $21.3m, …
Chris Mellor, 08 Jul 2016
Large leaver switch on a board of push button switches

Sage hires de Rojas

Accounting software biz Sage has hired industry veteran Jacqueline de Rojas as the boss of northern European ops. She is set to join from Citrix, which is facing its own problem since activists investor Elliot Management invested and grabbed a seat on the board. de Rojas is also president of TechUK. In a past life, the exec …
Paul Kunert, 06 Jul 2016
Tupperware image via Shutterstock

One container to rule them all? No. Um, a plastic box* refresher

Analysis Containers are the cool toy meaning two things: new technology and hype. At heart, containers are simple: group the minimum set of files needed to run a particular program into a single directory tree, then run it with some kind of isolation mechanism, so that as far as that process is concerned, it's the only thing on the …
Liam Proven, 05 Jul 2016

Larry Ellison, Oracle and litigation: A business that's not a business

Analysis Oracle's chalked up yet another stunning courtroom loss. In May, the database giant failed in its bid to have Google stump up $9bn on Android and stake a sweeping claim over APIs and how they're broadly used. And now, this week, Oracle was ordered to pay Hewlett-Packard Enterprise (HPE) $3bn for reneging on a commitment to …
Gavin Clarke, 01 Jul 2016

Hackers: Ditch the malware, we're in... Just act like a normal network admin. *Whistles*

Hackers almost exclusively use standard network admin tools to move around a compromised network once they’ve broken in using malware or other hacking techniques. Researchers at security startup LightCyber found that 99 per cent of post-intrusion cyberattack activities did not employ malware, but rather employed standard …
John Leyden, 30 Jun 2016
Sun shines on the clouds. Photo by Shutterstock

Oracle: Cloud-first for 12.2 update – on-prem world will have to wait

Oracle is cranking up the pressure on customers to consume its wares as-a-service by initially distributing the updated 12.2 database on a cloud-only basis. Talk of the shift - that will prevent the company’s existing installed base of on-premise punters from accessing new multi tenancy functions - was first spotted across the …
Pennies in a jar. Photo via Shutterstock

Technology shares slide with Brexit vote, except ARM

BREXIT Shares in British technology companies are mostly sliding after citizens of the United Kingdom voted for the nation to leave the European Union. The FTSE 100 fell more than 8 per cent at opening this morning, slicing over £100bn off of the market capitalisation of the UK's most highly rated bluechips, although this has since …
A car pulled over near a hazard sign on a country road. Photo by Shutterstock

BlackBerry's turnaround stalls

BlackBerry announced further losses today as its comeback plan snagged on adjustments to the books. Revenue was down to $400m (GAAP) for the quarter, down from $658m. But the company made significant balance sheet adjustments including a one-time asset asset impairment charge of $501m, and an inventory write down of $41m, …
Andrew Orlowski, 23 Jun 2016
Bare knuckle fight, photo via Shutterstock

Netflix picks fight with internet exchange industry

The internet exchange industry is ripping customers off, charging too much for features people don't need, and spending millions on staff salaries, unnecessary marketing and social events. That's according to the vice president of network strategy and architecture for Netflix, David Temkin, who created a stir at a meeting of …
Kieren McCarthy, 20 Jun 2016
Newspapers

Cybercrooks are pimping out pwned RDP servers

Cybercriminals are buying and selling access to compromised servers for as little as $6 each. The xDedic marketplace, which appears to be run by a Russian-speaking group, lists 70,624 hacked Remote Desktop Protocol (RDP) servers for sale. Kaspersky Lab researchers warn that crooks can abuse the compromised systems to hack …
John Leyden, 15 Jun 2016
Fingers crossed

SolidFire offers 'pay as you grow' deals to fight off software upstarts

Storage architect If you’ve ever had to scope out and purchase enterprise storage, you’ll know what a nightmare it can be. Vendors love to make the process as opaque as possible, with quotes that run into multiple pages and dozens of line items – including bezels and racks. Consider also the issue of adding more hardware (e.g. drives and …
Chris Evans, 08 Jun 2016
Larry Ellison and Nikita Khan

That didn't take long: Shareholders sue Oracle in 'fake cloud sales' row

Just days after Oracle was sued by an ex-employee, who accused the IT giant of making up its cloud sales figures, its shareholders are now hauling the company into court. A complaint [PDF] filed on behalf of Oracle stockholders by investor Grover Klarfeld alleges that the database goliath put their investments in the company …
Shaun Nichols, 06 Jun 2016

Microsoft's biggest UK reseller flashes fuller figures for '15

Microsoft licensing mountain Trustmarque won’t have done its chances of snaring a new private equity backer any harm by pushing out a decent set of trading figures for calendar year 2015. The York-based reseller, which merged with sister biz TES at the start of last year, reported turnover of £191.9m, up eight per cent on a …
Paul Kunert, 06 Jun 2016
Lawyer up

Oracle to sue cloud sales 'whistleblower' for 'malicious prosecution'

Oracle isn't known as a shrinking violet when it comes to legal battles, and it's coming out swinging over allegations that it was playing fast and loose with its cloud revenue reporting. On Wednesday, Svetlana Blackburn filed a lawsuit with the US district court in San Francisco claiming that she was fired from the company …
Iain Thomson, 02 Jun 2016
Pennies in a jar. Photo via Shutterstock

Go Comparex: Microsoft house counts cost of dealing with Gov.uk

The cost of righting historic accounting wrongs and winning lower margin or empty calorie government business has left Microsoft licensing slinger Comparex UK nursing losses. The firm piled on the British Pounds in the year ended 31 March 2015, growing turnover organically by a whopping 31 per cent to £41.95m, P&L accounts …
Paul Kunert, 02 Jun 2016
Error

Trouble originating between chair and keyboard caused most UK breaches

UK data breaches caused by good old human error rose again early this year, accounting for 62 per cent of all data breaches reported to UK data protection watchdogs in the first quarter of 2016. This far outstrips other causes of breaches, such as insecure webpages and hacking, which stands at nine per cent combined. The …
John Leyden, 02 Jun 2016

Oracle pulled made-up cloud figures out of its SaaS – whistleblower

An ex-Oracle staffer claims she was fired for refusing to keep quiet about the database giant's exaggerated cloud sales. On Wednesday, Svetlana Blackburn filed a whistleblower lawsuit with the US district court in San Francisco, alleging that she was dismissed on October 15 last year – two months after being given a positive …
Iain Thomson, 02 Jun 2016
floppies

US nuke arsenal runs on 1970s IBM 'puter waving 8-inch floppies

A US Government Accounting Office (GAO) report has highlighted the parlous state of Uncle Sam's IT infrastructure. As an example, the computer used to coordinate America's nuclear forces is an IBM Series/1 that uses eight‑inch floppy disks capable of storing about 80KB of data each. Meanwhile, the Treasury Department is …
Iain Thomson, 25 May 2016
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US watchdog probes Alibaba

The monster Chinese ecommerce site Alibaba is under investigation by the US Securities and Exchange Commission (SEC). In a filing – with the SEC – the company disclosed the financial regulator was looking into its accounting practices. That investigation includes Alibaba's biggest PR effort: the huge revenue generated on China …
Kieren McCarthy, 25 May 2016
PCM IBM chip, photo IBM

Great, IBM has had a PCM breakthrough. Who exactly is going to manufacture?

Analysis IBM has demonstrated a 3-bit Phase-Change Memory chip with IBM Zurich researcher Dr. Haris Pozidis talking about it in a YouTube video and not mentioning 3D XPoint once. The idea is to counter the relatively high cost of PCM chips by giving them 3 bits per cell, TLC or triple-level cells, instead of just one - clever. This …
Chris Mellor, 20 May 2016

SEC warns cybersecurity is biggest threat to financial system

The chair of the US Securities and Exchange Commission (SEC), Mary Jo White, has warned that the biggest risk the financial system faces is cybersecurity. Speaking at the Financial Regulation Summit in Washington DC, White warned the industry that their policies and procedures were not up to scratch and without them they faced …
Kieren McCarthy, 18 May 2016
Precog Minority Report

Tintri debuts storage precog that knows what you'll need in 6 months

Tintri has made a triple-play for its future with enlarged flash capacity, the addition of scale-out and predictive analytics so customers never need get surprised by space running out. The three existing T5000 all-flash arrays now use Samsung 3D V-NAND SSDs, the ones with TLC (3bits/cell) flash, and their raw capacity has …
Chris Mellor, 17 May 2016

Russia faces Ukraine and Georgia in Eurovision deathmatch

In what promises to be an entertaining night, politically at least, Russia, Ukraine and Georgia will face off in Saturday's Eurovision Song Contest final in Stockholm. Yesterday's second semifinal saw Ukraine's Jamala's cheerful ditty 1944 safely through to challenge Russkie crooner Sergey Lazarev and You Are The Only One for …
Lester Haines, 13 May 2016

Oz accounting SaaS raids UK

Australian SaaS accountingware outfit Reckon has decided to have a tilt at the UK market. The company's noticed that the UK has lots of the small businesses it already serves in Australia, the USA and New Zealand. It's also noticed that those small businesses, and folks who advise them, think cloud is quite a good idea. On …
Simon Sharwood, 12 May 2016
Scrambled Eggs from shutterstock

That went well – NOT - Nokia's first post-Alcatel numbers dip

When Nokia Networks and Alcatel-Lucent officially became one company, on January 14th this year, board chair Risto Siilasmaa declared “Our earnings, market cap and growth opportunities have multiplied.” Today, the combined companies reported results for the first time, with €5.6 billion to show off but the confession that a …
Simon Sharwood, 11 May 2016

Gartner waves for everyone to join its hyper-converged bandwagon

Comment Gartner is telling its enterprise IT followers that hyper-converged systems are okay to use, and set to develop into composable micro-services infrastructures by 2020. The report, entitled, "Prepare for the Next Phase of Hyperconvergence," defines a hyper-converhed infrastructure system (HCIS) as a platform offering shared …
Chris Mellor, 10 May 2016
A partially-eaten langos

China says yes to SanDisk

China’s MOFCOM trade regulator has said it’s OK for Western Digital to buy SanDisk. WD wants to buy SanDisk and its flash foundry chips-to-SSDs business for around $16bn. The MOFCOM approval completes the worldwide regulatory body approvals process and the deal is expected to close on May 12. WD and SanDisk shareholders have …
Chris Mellor, 10 May 2016
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A modest proposal: dump the NBN mess on Telstra

Because Australia is now in an election campaign, various hopefuls are holding their breath in case (a) the NBN becomes A Serious Election Issue, and (b) the opposition Australian Labor Party (ALP) advances an alternative policy that brings fibre closer to the premises. The depressing truth is this: (a1) because of the …
prison

Cyber-moolah boss gets 20 years' porridge for money laundering

The boss of virtual currency exchange Liberty Reserve has been sentenced to 20 years in prison and fined $500,000 after pleading guilty to money laundering. Ten years ago, Arthur Budovsky, now 42, set up Liberty Reserve in Costa Rica to exchange virtual currencies for dollars and euros, taking a one per cent transaction fee …
Iain Thomson, 09 May 2016
image from shutterstock_148618127

IT glitch causes 'nationwide' Post Office outage

An IT glitch at the Post Office has caused a "nationwide problem" leaving thousands of customers unable to pay bills, post packages or collect benefits this morning. The Post Office apologised on Twitter for the inconvenience caused by issues with counter services at some branches this morning, saying they had now been …
Kat Hall, 09 May 2016
Toshiba NB500

Tosh names new boss

Toshiba has named a new CEO. Satoshi Tsunakawa will take over from Masashi Muromachi who himself replaced the previous CEO in July last year following an accounting scandal. Tsunakawa is a veteran of the Japanese electronics giant and will take over in June following approval of his position by shareholders. Muromachi will …
Kieren McCarthy, 06 May 2016
Money falling, image via Shutterstock

Sage cheerfully pours £10m over Salesforce partner Fairsail

Payroll and accounting software firm Sage Software is taking a stake in Salesforce-HR platform partner Fairsail. Star-struck Sage, which has also announced interim financial results with growth in its own cloud service, will take a £10m minority stake in Fairsail and a board seat. Sage is leading the funding round. Fairsail …
Gavin Clarke, 05 May 2016

Jobs in Ireland may be vulnerable at post merger Dell Technologies

When Dell completes its acquisition of EMC and its subsidiary VMware, the combined Dell Technologies will become one of the largest technology employers in Ireland. But with role duplication almost inevitably raising the spectre of job losses as the firms integrate, the elimination of product overlaps will also have a job …
Chris Mellor, 05 May 2016
cable

Violin aids hearing firm

Germany's biggest hearing aid company has bought a Violin 7300 flash array. It replaces a NetApp array and support's Microsoft Dynamics AX ERP system, mail archive, testing systems and thousands of virtual machines across Europe. Kind Hearing has more than 500 retail stores in Germany and 100 in the rest of Europe. In-store …
Chris Mellor, 05 May 2016
HBO: Game of Thrones

Game of P0wns: Malvertising menace strikes Pirate Bay season six downloads

Scores of Game of Thrones pirates may have had computers encrypted by ransomware after malvertisers served the dangerous malware through the Pirate Bay during the mega-series' season six première last weekend. MalwareBytes researcher Jerome Segura says the hard-working Magnitude exploit kit authors were able to target pirates …
Darren Pauli, 27 Apr 2016
Hot air baloon, image: Shutterstock

Gwyneth Paltrow and Richard Branson will lead Sage's 'sexy accounting' shtick

Sage Software is following in the footsteps of Microsoft and Salesforce by rolling out big names to vent hot air at its events. The British company, which had revenues of £194m last year, employs 13,000 people and is known for its mid-market accounting software, has signed Virgin empire supremo Sir Richard Branson to anchor …
Gavin Clarke, 26 Apr 2016
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When is making $20bn in three months not enough? When your name is Google

Google parent company Alphabet is feeling the heat after it failed to reach earnings targets this past quarter. The Chocolate Factory took a beating on Wall Street after it reported non-GAAP earnings of $7.50 per share in its 2016 Q1 period, which ended in March. Analysts had expected earnings of at least 7.96 per share. Here' …
Shaun Nichols, 21 Apr 2016
EmDrive space motor

'Impossible' EmDrive flying saucer thruster may herald new theory of inertia

An explanation for Roger Shawyer's seemingly impossible EmDrive has been offered. The RF resonant cavity thruster was first proposed by British aerospace engineer Roger Shawyer in 1999. It bounces microwaves around within a cone-nosed container, with the container moving in the direction of the cone end. Despite skepticism …
Andrew Orlowski, 21 Apr 2016

It really is time to sort out your professional indemnity insurance

Promo Nothing is certain but death and taxes. Everything else, including lawsuits, happens to other people, right? Which is why you still haven't got around to sorting out professional indemnity insurance. We suspect that many other sole traders and small IT businesses are in that same mental boat. If you’re a freelance IT …
David Gordon, 14 Apr 2016
An angry mob

Verizon peeps gobbled by Frontier enter week two of crap internet

The problems that have plagued the handover of broadband subscribers from Verizon to Frontier Communications are entering their second week – and Frontier says that some internet services will not be restored until mid-April. The issues began on April 1, when people reported widespread outages and service disruptions in …
Shaun Nichols, 07 Apr 2016