Articles about Economy

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Ireland's govt IT: Recession and job cuts forced us to adapt

Ireland was hit hard by the global financial crunch of 2007 and 2008. It was the first of the EU member states to slip into recession immediately following the bursting of the economic bubble. As the economy contracted, banks faced default and government debt increased, with Ireland eventually taking an €67.5bn loan from the …
SA Mathieson, 23 Aug 2016

Beardy Ed Vaizey: 'I can't let go. I like the tech sector'

Interview One month after Theresa May swept into government, former culture and digital minister Ed Vaizey is relatively sanguine about getting the sack. "The reason for me not being in my job is due to political reasons ... I didn't have perhaps enough credentials for her [sic] to stay in my post or even stay in government. Others did …
Kat Hall, 23 Aug 2016
The Mosque at the Taj Mahal, shot from within the Taj Mahal through the marble screens

Indian techies told to prepare for tax sprint

National Goods and Services Tax means everything needs tweaking India recently introduced a national goods and services tax (GST)* and the nation's techies are now scrambling to prepare for its implementation. Each of India's states previously levied their own GST at their own rates, which rather complicated matters for …
Simon Sharwood, 23 Aug 2016
Russian astronauts

Russia investigates downsizing space station crew from three to two

NASA has confirmed that the Russian Federal Space Agency Roscosmos is mulling whether or not to continue staffing the International Space Station with its usual complement of astronauts. Last week the Russian newspaper Izvestia quoted Sergei Krikalev, director of manned programs at Roscosmos, saying that the agency had …
Iain Thomson, 17 Aug 2016
Illustration of a "bitcoin" dissolving into numbers. Photo by SHutterstock

Broken BitBank Bitfinex shaves 36% from all accounts

Hong Kong cryptocurrency exchange Bitfinex, which last week closed itself down after being hacked, has now told account-holders they'll all have to pay for the mess by surrendering some of their account balance. In a new update for users the outfit says that “After much thought, analysis, and consultation, we have arrived at …
Simon Sharwood, 08 Aug 2016
DEF CON encryption panel

US Politicians tell DEF CON it'll take Congress ages to sort out how to regulate crypto

DEF CON It’s going to be at least a year or so, and probably a lot longer, before the United States Congress gets around to ruling on the second war on encryption, two members of the US House of Representatives told the DEF CON event. Alex Stamos, chief security officer (CSO) of Facebook, hosted a panel with Representatives Eric …
Iain Thomson, 07 Aug 2016
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ARM's top brass land £54m Softbank windfall

Top execs at ARM are facing a £54m stock payout after Japan giant Softbank swooped to scoop up the Brit-tech success. Chief executive Simon Segars will land £11.36m, chief technology officer Mike Muller £21m and chief executive since September 2011 Chris Kennedy will net £344,352. The figures, revealed in new ARM SEC filings …
Gavin Clarke, 04 Aug 2016
Man counts pounds and pence. Photo by Shutterstock

Post-Brexit spending freeze in UK is real, says enterprise distie titan

Arrow Electronics Inc’s Enterprise tech division in Britain was struck by delayed spending among customers following the outcome of the EU Referendum, the distributor’s chief bean-counter claimed last night. CFO Chris Stansbury estimated “late purchases and weakening of accounts” after the 24 June vote “negatively impacted our …
Paul Kunert, 03 Aug 2016
Professional carbon drone with GPS. Pic via Shutterstock

White House loves drones

The White House wants to encourage the use of drones and has put out some new guidelines to cover that explosion. The Office of Science and Technology Policy (OSTP) has released "New Commitments to Accelerate the Safe Integration of Unmanned Aircraft Systems." It includes: $35m in research; approval for various government …
Kieren McCarthy, 02 Aug 2016
stack of newspapers with a pair of ethernet cables next to them

Tesla spends $2.6bn on solar

Tesla Motors has announced it is to buy SolarCity, an American energy company that installs solar power systems. Elon Musk, CEO of Tesla, made his intention to merge both companies clear in his Master Plan, Part Deux blog post. Musk wants solar panels on the roof of all Tesla cars in order to achieve sustainable energy …
Katyanna Quach, 01 Aug 2016
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Odds are your office is ill-prepared for network-ransacking ransomware

Organizations are unprepared for future strains of more sophisticated ransomware, a report by Cisco warns. The networking giant's 2016 Midyear Cybersecurity Report concludes that the next wave of ransomware is expected to be more pervasive and resilient. While current strains typically infect a single computer, future …
John Leyden, 26 Jul 2016
Liam Neeson Taken

Euro cops, Intel and Kaspersky slay Shade ransomware

A joint operation by Europol, the Dutch National High Tech Crime Unit, Intel, and Kaspersky has seized the command and control servers for the Shade ransomware strain and published code that allows anyone hit by the malware to decrypt their files. Shade has been in circulation since 2014, and has predominantly targeted …
Iain Thomson, 25 Jul 2016
The hit augmented reality smartphone app "Pokemon GO" shows a Pokemon encounter overlain on a real world trail in the forest in Santa Cruz, California. Photo by Matthew Corley for Shutterstock. EDITORIAL USE ONLY!.

I don't like Mondays, Pokemon, Twitter or Facebook – Sir Bob Geldof

RSA Asia Activist pop star Sir Bob Geldof hates Pokemon Go, Facebook and Twitter, has never bought anything online, and uses a Nokia 3100 which he says avoids the need for mobile security. Sir Geldof Sir Bob and his Nokia relic. The muso and Irish punk-now-pop icon took aim at the meaningless obsessions of the modern world during a …
Darren Pauli, 25 Jul 2016

Silicon Valley's contribution to the US Republican Convention: Gayness

Analysis If ever there was any doubt that billionaire Peter Thiel was a contrarian, he put it to bed last night in a short speech at the Republican National Convention in Cleveland, US. The Paypal cofounder and early investor in Facebook already stood out as a supporter of Donald Trump in Silicon Valley – an industry that despises the …
Kieren McCarthy, 22 Jul 2016

Gartner's hype cycle turned upside down to assess Brexit

Gartner veep and fellow Mark Raskino has applied the analyst firm's famed Hype Cycle to Brexit. Gartner's Hype Cycle plots technologies' fortunes, asserting that after birth they ascend to a “peak of inflated expectations” before descending into a “trough of disillusionment.” The market eventually figures out what a technology …
Simon Sharwood, 22 Jul 2016
Ashlee Vance, Elon Musk: How the Billionaire CEO of SpaceX and Tesla is shaping our Future

Fear not, humanity – Saint Elon has finished part two of his world-saving 'master plan'

Solar-panel roofs on cars, compact SUVs, and high-passenger-density urban transport are all part of Elon Musk's self-titled "master plan, part deux" for the world. The SpaceX and Tesla Motors supremo has just finished writing the second part of his blueprint for the future of humanity. The ultimate goal is sustainability, Musk …
Katyanna Quach, 21 Jul 2016

UK's digital strategy must account for Brexit, say MPs

The UK government must explain how its long-awaited new digital strategy will be impacted by the country's decision to leave the EU, a committee of MPs has said. The Business, Innovation and Skills (BIS) Committee in the UK parliament made the call in a new report on the digital economy in which it also said there is a need to …
OUT-LAW.COM, 21 Jul 2016

Los Desaparecidos di Disruption: The Final Days of Conservative 2.0

¡Bong! Special We’d been jeered, we’d been jostled. Overnight, we’d become un-people. Now in this dank, windowless subterranean concrete cell, I cast an eye around my companions again. Loyalists and traitors alike had been thrown together. Lords Feldman and Finkelstein. Matthew Hancock. Ed Vaizey. Oliver Letwin. Dangling by hooks through his …
Steve Bong, 20 Jul 2016
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Softbank promises stronger ARM: Greater overseas reach and double the UK jobs

Brit-tech success poster child ARM holdings is to be acquired by Japanese telecom multinational Softbank. ARM, whose chip designs drive the majority of the world’s smartphones, is under offer for a remarkable £24.3bn - a premium of 43 per cent over current stock price. Softbank, whose last yearly revenue totalled 19.5 …
Gavin Clarke, 18 Jul 2016
Artist's view of a binary black hole. Pic credit: NASA, ESA and G Bacon (STScI)

Brexit has left a regulatory black hole for digital, say MPs

Brexit has left the UK peering into a digital regulatory void, according to MPs. The government must provide greater clarity on digital regulation and ensure it stays on track in light of the EU referendum result, the Business, Innovation and Skills (BIS) Select Committee finds in a report published today (PDF). Issues that …
Kat Hall, 18 Jul 2016
Lily Cole, Impossible.com

Lily Cole: Profit still looks almost Impossible.com

Impossible.com, the world-changing “sharing economy” website founded by millionaire supermodel and polymath Lily Cole lost even more money last year. Year end P&L accounts filed with Companies House revealed that I Am Possible Ltd - with Cole as director - was £257,889 in the red for year ended October 2015. That’s worse than …
Andrew Orlowski, 15 Jul 2016

Security gurus get behind wheel of driverless car debate

Security experts have already waded into the UK government's consultation into self-driving technologies. The two month session comes against a backdrop of increasing concerns about connected cars. Infosec vendors argue security needs to be considered alongside other issues such as changes to driving regulations (the Highway …
John Leyden, 15 Jul 2016

Successful fintech: UK has some, but it's not in Silicon Roundabout

Open up the business pages of any national newspaper and much of the coverage is focused on the latest fintech startup, the marvel that will transform the global financial system, backed – inevitably – by big name venture capital firms. But is this obsession with fintech deserved? A cool analysis of the phenomenon long term …
Marcus Gibson, 15 Jul 2016

Openreach boss Clive Selley wants Ofcom to wrap it up already

Interview The Sword of Damocles has not entirely disappeared from above Openreach. Earlier this year, the UK communications watchdog Ofcom stopped short of recommending a full decapitation of the British broadband provider from its parent BT. Crucially, though, it has kept the option on the table. In the next few weeks the regulator is …
Kat Hall, 14 Jul 2016

In these troubling times, senators unite to end America's big divide – rural v urban broadband

The US Senate has formally formed its first informal committee to push for better broadband in America's countryside. The bi-partisan Senate Broadband Caucus will be made up of five senators who represent states with large rural populations and will push for laws that help to expand high-speed internet service into those …
Shaun Nichols, 13 Jul 2016
Gunther Oettinger, EU digital commissioner. Photo by Shutterstock - must mark as editorial use only

EU operators’ 5G manifesto misses the point

Never before have events coincided so neatly to demonstrate the gap between mobile operators’ thinking about 5G, and how future networks will really be deployed for disruptive effect. While Europe’s leading MNOs were presenting a backwards-looking "5G Manifesto" to the European Commission, veiling pleas for net neutrality …
Wireless Watch, 13 Jul 2016
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European Commission straps on Privacy Shield

The European Commission has this morning adopted the EU-US Privacy Shield agreement, which will enter into force as soon as all member states are notified of the adequacy decision (PDF). Privacy Shield, which has been adopted after months of negotiations, is an agreement between the EU and the US which ostensibly ensures that …

Don't doubt it, Privacy Shield is going to be challenged in court

Analysis The European Union's attempts to make data transfers to the United States compliant with privacy laws are an opaque exercise, so much is obvious, but will they work? It's clear that it is necessary to retain the Transatlantic data trade – in economic terms, but also as a means of preventing the Balkanization of the internet. …

EU cybersecurity directive will reach Britain, come what May

The passage of the EU Directive on the Security of Network and Information Systems (NIS) will have a profound effect on corporate security across Europe and even in Britain, despite the Brexit vote. The NIS Directive applies to organisations that provide elements of a country’s critical national infrastructure – i.e. operators …
John Leyden, 11 Jul 2016

Kotkin on who made Trump and Brexit: Look in the mirror, it's you

Interview Two American writers have attempted to grapple with the rise of “populism” exemplified by Donald Trump and Brexit, with both starting (if not finishing) from the Left. Both Death of the Liberal Class by Chris Hedges and The New Class Conflict by Joel Kotkin both make uncomfortable reading for the complacent chatterati. Both …
Andrew Orlowski, 11 Jul 2016

Wannabe Prime Minister Andrea Leadsom thinks all websites should be rated – just like movies

The UK's possible future prime minister thinks all websites should be classified with minimum age ratings, just like films. Andrea Leadsom is one of two candidates left in the race for the leadership of the Conservative Party; the winner of which will become the country's Prime Minister. Although many are concerned with the …
Kieren McCarthy, 08 Jul 2016
shutterstock_236128771

'We shall overcome' net neutrality, sing Euro telcos in the key of 5Gs

Europe's telcos have found a reason to shed any ambivalence they had about 5G, waking up with a shared vision that the technology can help them fend off Internet neutrality rules. Even better – for the telcos at least – they've found a willing ear in the person of European Commissioner for the Digital Economy and Society …
Prison

UK.gov rolls out 10 years' chokey for industrial scale copyright pirates

Digital Economy Bill As it promised in the Queen’s Speech – and as first revealed here – legislation will extend the maximum penalty for industrial scale online copyright infringement from two to 10 years. This is in the hope that criminal copyright cases are actually brought under copyright law. Because the maximum sentence is currently only two …
Andrew Orlowski, 06 Jul 2016

Ofcom is to get powers to fine mobe providers for crap service

Digital Economy Bill Communications provider Ofcom has gained powers to fine mobile operators up to £2m if they fail to comply with coverage obligations under their spectrum licence. The new penalties will be introduced under the 150-page Digital Economy Bill, which significantly boost the regulator's powers. The Bill granted the regulator powers …
Kat Hall, 06 Jul 2016

UK.gov wants to fine websites £250,000 if teens watch porn vids

Digital Economy Bill The government has proposed mandatory age verification measures on all British pornographic websites, on pain of a whopping fine in cases of non-compliance. The 151-page Digital Economy Bill (PDF) was laid before Parliament today. It states a requirement for age verification checks, although the practical matter of verifying …

EU uncorks €1.8bn in cybersecurity investment. Thirsty, UK?

The EU Commission has launched a public-private partnership on cybersecurity that is expected to trigger €1.8bn ($2bn) of investment by 2020. The EU is promising to invest €450m ($502m) in a bid to spur innovation in cybersecurity with the remainder coming from the private sector. Some security commentators reckon the Brexit …
John Leyden, 05 Jul 2016
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Get ready for mandatory porn site age checks, Brits. You read that right

Digital Economy Bill The UK government is to lay its digital bill before Parliament today, which, among other things, is intended to create a legal right for every household to access 10Mbps broadband. Age verification will also be required for people browsing pornographic websites, supposedly for the protection of children from online porn. The …
Kat Hall, 05 Jul 2016

Uber opens up on Oz deactivation policies, just a little

Uber in Australia has been pushed into making public the criteria that can get a driver kicked out. The “deactivation policy” went live last week, with Uber saying it's in response to complaints from drivers. Uber Australia's Mike Abbott blogs that “we don’t always do a good job working with our driver-partners to explain our …
Detroit skyline

Detroit Rock(et Fiber) City: Startup brings 10Gb service to Motown

A project born out of finance house Quicken Loans is making a push to bring broadband to the city of Detroit. Rocket Fiber, which was launched by three former Quicken employees and still operates under its umbrella of companies, began feasibility studies in 2013, laying out cables a year later and finally launching as a …
Shaun Nichols, 04 Jul 2016
London stock exchange, photo via Shutterstock

London Stock Exchange's German mega-merger: It's a go, despite Brexit

The London Stock Exchange takeover by its German competitor Deutsche Boerse (aka the "Merger of Equals") should still be going forward despite Brexit, but a planned vote by their respective shareholders throws another wildcard into how job cuts are shared between London and Frankfurt. The £12bn deal, announced in March, is due …
Dominic Connor, 04 Jul 2016
ULA Atlas launch

Microsoft: Give us better staff

The next "space race" will be in the world of computer science, according to Microsoft's president and head lawyer Brad Smith, who wants more students to pick up the subject (and presumably fill his company's ranks). "Kansas is primed to play an important role," Smith told the US state's Wichita Herald. "From agriculture to …
Shaun Nichols, 01 Jul 2016
The British Pound - Sterling currency tumbles post Brexit

Sterling's post-Brexit dollar woes are forcing up tech kit prices

Tech vendors don’t want to admit it but CIOs will need to return to their spending plan spreadsheets: hardware is going to get more expensive post-Brexit as sterling slides against the US dollar. The UK currency fell 12 per cent on 24 June when the outcome of the EU referendum emerged, and this week the pound plunged to a 31 …
Paul Kunert, 01 Jul 2016
Woman motorist waves from a red car. Photo by Shutterstock

What Brexit means for you as a motorist

The UK has voted in favour of leaving the European Union and in the past few days the markets have reacted violently, plunging the pound to its lowest level against the US dollar since the mid-1980s. Nobody’s really sure what the future holds for the UK or for its economy, but the referendum result has gone against the wishes …
Ryan McElroy, 29 Jun 2016
Brexit financial crash

Post Brexit tech spending to rise like a lead balloon

Yet another analyst has delivering a damning forecast for tech spending following last week’s UK referendum decision to leave the European Union as major suppliers prepare staff for what could months of slowing sales. Channel-watcher Canalys projected local sales spending of $90bn to $100bn for the year before Brits voted to …
Paul Kunert, 28 Jun 2016
Yoga print - people doing yoga. Image via shutterstock

My plan to heal this BROKEN, BREXITED BRITAIN

¡Bong! [The following memo was found in a pilates studio in Shoreditch earlier this month, and forwarded to us anonymously. It is sourced to "BV Strategic Relations”, a highly secretive firm apparently registered in Panama, which describes itself as a "bespoke crisis management consultancy to governments”. The authenticity of the memo …
Steve Bong, 28 Jun 2016
George Osborne

Osborne on Leave limbo: Travel and trade stay unchanged

Keep calm and carry on is the Chancellor’s message to UK firms trading with Europe working with EU staff following last week’s shock victory for Vote Leave. George Osborne made a statement Monday morning designed to calm the markets and business jitters since the referendum result to leave the EU. Osborn stated the fact that …
Gavin Clarke, 27 Jun 2016
data

Brexit and data protection: A period of shock and reflection

BREXIT What price the UK's secession from the European Union? “It's far too soon to tell,” has been the sober and much-repeated line of legal and privacy professionals following the United Kingdom's referendum which voiced public opinion to leave the European Union. Speaking to The Register this morning Andrew Joint, commercial …

Vendors suspend tech orders as Brexit slaps Brit pound

BREXIT If there is one thing the IT industry despises it is uncertainty and there was lashing of the stuff poured across the UK following the Brexit vote. Most major vendors already came out in favour of the Remain camp - including Microsoft, IBM, HPE, SAP, EMC, Cisco and many others - the result was so unexpected for the community …
Paul Kunert, 24 Jun 2016

Grappling with the future? Sometimes the answer is simpler than you think

PROMO The future is complicated, with a myriad of platforms and solutions promising to help you deal with disruption in any industry you choose to name. Faced with that degree of complexity sometimes the best response is the simplest – sit still, listen, then think before acting. That’s why, to mark the launch of its Hyper Converged …
David Gordon, 23 Jun 2016
Mark Zuckerberg's laptop

Zuck covers up mic and cam pickup because sharing isn't always good

A PR snapshot of Mark Zuckerberg's desk has shown quite how seriously the king of the information sharing economy takes his own privacy. On Tuesday, the Behoodied One shared an at-work picture to celebrate hitting 500 million active monthly users on Instagram. But a closer look by California startup employee Chris Olson shows …
Iain Thomson, 22 Jun 2016