Articles about Accounting

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
Telstra pit by https://www.flickr.com/photos/newtown_grafitti/ cc. 20 attribution generic https://creativecommons.org/licenses/by/2.0/

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
Google_skull

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
A plate of horderves

IBM wins BBC finance gig

IBM is to replace Sopra Steria as the BBC's supplier of outsourced finance, accounting and payroll, claiming victory in a four-way race. Terms for the five year deal and numbers of staff affected, if any, are not disclosed. The incumbent supplier Sopra Steria has run the contract for 10 years. The switchover to IBM will take …
Drew Cullen, 07 Apr 2016
 Good GCSEs should cost parents a Jesus-phone

Microsoft announces Windows 10 Anniversary Update coming this summer

BUILD2016 Microsoft has announced an "anniversary update" to Windows 10, set for release this summer. The first release appeared in July 2015. Windows boss Terry Myerson, presenting the update at Microsoft's Build event in San Francisco, said that it is not only for PCs and tablets, but also for phones, Xbox, HoloLens (for which …
Tim Anderson, 30 Mar 2016

Micro Focus spends $540m to add Serena its software brand museum

Micro Focus International is splashing out $540m to scoop up Serena Software – or more specifically, its recurring maintenance revenues, to add to its stable of once great, now slightly dusty software brands. LSE-listed mainframe specialist Micro Focus is simultaneously raising $216m in a placing to help pay for the deal, …
Joe Fay, 22 Mar 2016
Toshiba_flash_fabs

Toshiba storage keeps eye on flash as Group sheds jobs, sells divisions

Toshiba is doubling down on flash memory as a revenue growth engine to help climb out of the financial poo, while also aiming to get dollars spinning out of its disk drive business. In a reconstruction plan revealed on Friday, the troubled Japanese tech giant said it would develop its 3D memory products faster and develop …
Chris Mellor, 22 Mar 2016

Oracle made slightly less money last quarter, and America is to blame

Oracle is blaming a strong dollar in cutting into its Q3 fiscal 2016 numbers. The enterprise giant reported [PDF] a three per cent decline in revenues and a 14 per cent drop in net income on the year-ago quarter, but said that when adjusted for constant currency, revenues would have been up one per cent and income down just …
Shaun Nichols, 15 Mar 2016

Who watches over your data – and how do you know it won't go AWOL?

There are a couple of alternative interpretations of the concept of data ownership. The first relates to the legal ownership of data – the intellectual property aspects such as copyrights, designs and trademarks. Now, while that's a world I did work in for a few years it's the other interpretation I'm concerned with here: the …
Dave Cartwright, 15 Mar 2016

Systemax bleeds cash, reports $100m net loss for 2015

The cost of exiting its North America reseller biz propelled Systemax’s net losses to nearly $100m in calendar 2015 - but European ops might just be finally showing some signs of recovery. The supplier, in the midst of a turnaround strategy, offloaded the Technology Group reseller biz in December to PCM for $14m but then …
Paul Kunert, 09 Mar 2016
Die shot of the Opteron 6300

AMD to fix slippery hypervisor-busting bug in its CPU microcode

Analysis AMD will release on Monday new processor microcode to crush an esoteric bug that can be potentially exploited by virtual machine guests to hijack host servers. Machines using AMD Piledriver CPUs, such as the Opteron 6300 family of server chips, and specifically CPU microcode versions 0x6000832 and 0x6000836 – the latest …
Chris Williams, 06 Mar 2016
Man runs as a fire engine pulls up to a burning building. Pic by Shutterstock

Official: Toshiba pulls out of European consumer PC market

Exclusive Scandal-hit Toshiba is slashing jobs across Europe as it beats a retreat from the region’s consumer PC market. Retailers are honouring existing orders for the first quarter of this year but are not placing any further ones, sources told us. Staff have been notified of the planned redundancies and a number put at risk. “We are …
Paul Kunert, 26 Feb 2016
Simon Cowell, photo: s_bukley via Shutterstock

Oh TechNation. Britain's got tech talent. Just not like this

Opinion It was ironic that this month’s crowing Tech Nation report, which wrongly claimed the UK digital sector “was growing 32 per cent faster than the rest of the economy,” almost coincided with the total collapse of one of the sector’s biggest – and loudest – stars, Powa Technologies. Compiled by Tech City and NESTA, an innovation …
Marcus Gibson, 25 Feb 2016
Tor

Lose the onion tears, Tor fanboys: CloudFlare may consider binning CAPTCHAs, says CEO

Tor users crying over CloudFlare's CAPTCHAs will soon be able to put away their onions, rather than their .onions, the company has suggested. CloudFlare CEO Matthew Prince told The Register he would love to create a no-more-tears system allowing the anonymizing network's legitimate users to access CloudFlare-hosted websites …

Android users installed 2 BILLION data-stealing, backdooring apps

Users have downloaded more than two billion data-stealing Android apps, while large swathes of enterprises are reportedly housing malicious iOS apps, according to security firm Proofpoint. The firm found some 12,000 malicious apps across 'authorised' Android app stores, with code to steal data, create backdoors, and wreak …
Darren Pauli, 24 Feb 2016
Leopard kill

WD CEO: We ain't getting Unisplendour's $3.8bn. But we'll buy SanDisk anyway

Western Digital is facing an investor revolt over its SanDisk buyout and has had the $3.8bn wad it expected from Unisplendour halted by the Committee on Foreign Investment in the United States. Unis (Unisplendour) is a Chinese corporation, owned by the Tsinghua Unigroup, that proposed to invest $3.8bn in WD thus getting a 15 …
Chris Mellor, 23 Feb 2016

Hackers aren't so interested in your credit card data these days. That's bad news

Healthcare and government have overtaken the retail sector as most-targeted for data breaches, according to security firm Gemalto. A total of 1,673 data breaches led to 707 million data records being compromised worldwide during 2015, according to the latest edition of Gemalto’s Breach Level Index report. Not all breaches are …
John Leyden, 23 Feb 2016

No tit for tat, or should that be tat for tit ... Women selling stuff on eBay get lower bids

It's no secret that women tend to be paid less than men across many professions, and now researchers say the pay gap even extends to goods sold online. A pair of academics in Israel studying eBay auction results over a three-year period found that when selling the same items, both new and used, female sellers got a lower …
Shaun Nichols, 20 Feb 2016

Public enemies: Azure, Amazon, Google, Oracle, OpenStack, SoftLayer will murder private IT

Analysis On-premises IT is facing decimation by six public cloud enemies: Amazon, Azure, Google, OpenStack, Oracle and SoftLayer, who are on course to have the majority of customers' IT spend by 2018. An Internet retailer, started up as an online book store, and a website search facility have kickstarted an IT phenomenon which could …
Chris Mellor, 16 Feb 2016
Exit sign. Pic:  Lukas Kästner

Toshiba denies it will exit the PC market

Toshiba is denying Japanese reports that it will exit the PC business. The company is restructuring in the wake of an accounting scandal in which it overstated profit by $2bn over seven years. To any outsider, the cutthroat PC market would seem a good place to start, The company is the world’s seventh biggest PC maker, …
Drew Cullen, 16 Feb 2016
trolley_shopping_648

Microsoft seller Trustmarque seeks private equity sugar daddy

Exclusive Trustmarque is erecting a for sale sign outside corporate HQ as the management team looks for a new private equity backer to fund a buy-out. The volume licensing reseller-cum-managed services outfit is currently backed by Endless LLP, which swooped for the York-HQ’d business when it faced well publicised cash-flow challenges …
Paul Kunert, 12 Feb 2016
Blackhat

Russian ATM-popping gang used nation state cybercrook tactics

Cybercrooks are increasingly adopting tactics from more advanced hackers in order to steal millions of dollars from banks and other financial institutions. The first of the two cybercrime groups, dubbed Metel, are mostly active in Russia. The group’s typical modus operandi involves gaining control over machines inside a bank …
John Leyden, 09 Feb 2016
Music listener rasta

Labels to artists: You'll get a penny, so go away

Two of the three major record labels last week promised to share some of the money from the windfall they may receive from a Spotify IPO with artists. Neither said how much will land in the busker's hat. But the implication was that this was an act of munificence, and whatever the amount is, they should be jolly grateful. …
Andrew Orlowski, 08 Feb 2016
Grinning man in suit points at a calculator meaningfully. Pic via Shutterstock

Oracle now fully compliant with UK tax laws*

Good news, britons! Oracle says it is now fully compliant with the nation's latest tax regulations, including those that come into force on April 6th. That's the first day of the UK's new financial year, thanks to some sixteenth-century calendar-realignment shenanigans. Whatever the reason for the day, those who rely on …
Simon Sharwood, 05 Feb 2016
Toshiba Satellite S50-B

Sorry, Toshiba, speak up ... What was that? A $6bn loss amid an accounting scandal?

Life isn’t getting any easier for Toshiba: the accountancy-scandal-hit Japanese conglomerate has forecasted a wider net loss of ¥710bn ($6bn) for its fiscal year, which ends in March. The worst set of losses in the company's history – it was founded in 1875 – are being blamed on restructuring costs, and amortisation of the …
Paul Kunert, 04 Feb 2016

US government's $6bn super firewall doesn't even monitor web traffic

The US government's firewall, named Einstein, is not as smart as its name would suggest. A report [PDF] by the General Accounting Office (GAO) into the National Cybersecurity Protection System (NCPS) has concluded that it is only "partially meeting its stated system objectives." Which is a polite way of saying it sucks. Among …
Kieren McCarthy, 01 Feb 2016
Toshiba Satellite P series laptop

Toshiba, Fujitsu and Vaio may be about to merge laptop ops

From Taiwan, an advance on a tantalising rumour: Toshiba, Fujitsu and Vaio look to be seriously considering a merger of their laptop-making operations. Vaio, the laptop spin-off from Sony, publicly floated the idea in late 2015. At that time it was thought that Toshiba would probably like the idea, as relieving itself of its …
Simon Sharwood, 01 Feb 2016
Kids car snow, image via Shutterstock

Cloud growth? Take a number, Microsoft. Two engines have stalled

Microsoft’s second fiscal quarter showed a company at a dangerous stage in its transition. It also revealed a firm that is unable to rely on the certainties of old. Not so long ago, Microsoft could call on three engines of growth to drive its business – Office/personal productivity, server and tools, and Windows client …
Gavin Clarke, 30 Jan 2016

This EMC is bereft of expansion, it is formerly increasing ... it is ex-growth

Analysis EMC is now an ex-growth stock. It pulled out its traditional hard-selling fourth quarter, but it achieved 0.7 per cent less than the year-ago quarter. Full-year results, published on Wednesday, were ahead in the annual compare by just 1 per cent. It's been a hard year for the world's number one storage supplier. Fourth …
Chris Mellor, 28 Jan 2016
Toshiba

Troubled Toshiba ponders selling chips to save its flash bacon

Toshiba, recovering from a self-caused $1.3bn accounting scandal, could exit peripheral chip businesses while concentrating on its NAND core – with exit from the disk business a possibility too. Reuters and Japan’s Nikkei reported loss-making parts of Toshiba's chip business lines, such as systems LSI (Large Scale Integration …
Chris Mellor, 25 Jan 2016

Airbus, Boeing aero parts maker loses $54m in cyber-stick-up

An Austrian engineering firm is counting the cost of poor IT security after admitting €50m ($54m) has gone missing from its accounts following a "cyber fraud." FACC Operations makes airplane parts for giants like Airbus and Boeing, and is majority owned by a Chinese holding company. It insists its intellectual property, …
Iain Thomson, 22 Jan 2016
classroom_shutterstock_648

Women account for just one fifth of the EU’s 8m IT jobs

The European Union has totted up all the IT jobs in the region for 2014 and this is what it found: nearly eight million ICT pros employed in the 28 member states and more than 80 per cent are men. They are also well-educated, with more than half completing tertiary education. Techies occupied just 3.7 per cent of all jobs - “a …
Drew Cullen, 21 Jan 2016
Toilet roll printed with fake US $100 bills

Vendors reporting their cloud revenue with funny money

There's no way to tell just how successful your suppliers are in the cloud, because nobody's counting cloud cash consistently. So says analyst house Gartner in a paper titled “Vendor Cloud Revenue Claims — Should Enterprises Care?” Gartner thinks you need to care, because vendors are finding all sorts of ways to cook up a big …
Simon Sharwood, 18 Jan 2016
Graph of US dollar going up CC 2.0 https://www.flickr.com/photos/68751915@N05/ 401kcalculator.org.

Who's laughing now, doubters? Cloud makers rake in £75bn in sales

Global cloud revenues jumped 28 per cent year-on-year to reach $110bn (£75bn) in the 12 months to September 2015. Totting up the numbers is Synergy Research, which tracks vendor revenues in six cloud services and infrastructure areas. These are: Public IaaS/PaaS, Private and Hybrid, SaaS, UCaaS, Public Cloud, Private Cloud. …
Drew Cullen, 08 Jan 2016
shutterstock_197375177-doctor

MPs slam mandarins over failed GP IT system

Updated MPs have today slammed "the severe failures" of an IT system designed to allow the extraction of data from all GP practice computer systems in England. The General Practice Extraction Service started five years too late, is over-budget and still does not provide the full service required, said a report by the Committee of …
Kat Hall, 31 Dec 2015
NEMA 5 plug socket

There's an epidemic of idiots who can't find power switches

On-Call If it's nearly Christmas and there's not much news about, it must be time for some extra inbox-clearing On-Call columns, in which we share tales of the things readers are asked to do at unpleasant times and/or out-of-the-way places. Today, we're again riffing on our November story about the politician who had a techie drive …
Simon Sharwood, 22 Dec 2015
Toshiba

Toshiba denies NAND exit report with 'no decision made' comment

Giant Japanese conglomerate Toshiba, currently restructuring in the wake of a huge accounting scandal, has denied media reports that it intends to pursue a flash foundry spin-off. The Japan Times has reported (citing sources) that the flash foundry business could be set up as a separate subsidiary owning the Yokkaichi plant in …
Chris Mellor, 21 Dec 2015

Scandal-hit Toshiba faces investor sueball over accounting woes

Ailing Japanese corporation Toshiba is the target of a lawsuit from embittered shareholders over the stock price crash that resulted from a multi-billion dollar accounting debacle. Some fifty individuals have sued the organisation as well as with three former CEOs and two ex-CFOs for 301.99 million yen (£1.62m) in damages, …
Paul Kunert, 07 Dec 2015
Cat 5 cable

Conficker, back from the undead, dominates malware threat landscape

Conficker was the most common malware used to attack UK and international organisations in October, accounting for 20 per cent of all attacks globally, according to security vendor Check Point. When it first appeared in November 2008, the Windows-affecting Conficker worm caused all manner of problems mainly because of its …
John Leyden, 01 Dec 2015