Articles about Finance

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NetApp finance chief quits, dons Blue Coat

+ Comment NetApp’s finance boss, Nick Noviello, has resigned to become CFO at Blue Coat Systems, with an interim CFO, Jeffrey Bergmann, appointed while guidance for the next quarter remains the same. Bergmann is currently veep of corporate finance who joined NetApp in June 2009 as veep for global tax affairs. A search is reportedly …
Chris Mellor, 07 Jan 2016

Phished IT bod opens door to 40,000 finance folks' personal details

A major data security breach at the Chartered Institute for Securities and Investment has caused the release of 40,000 members' details to a fraudster. On Friday (May 29) the professional body for finance and investment folk held an emergency meeting concerning the release of every member's name, email address and membership …
Kat Hall, 01 Jun 2015
Making conversation Google Glass style

Google's chief finance officer quits to go backpacking

Google's chief finance officer Patrick Pichette has quit his job to go backpacking. In a filing to the Securities and Exchange Commission yesterday, Google said Pichette, who is 52, had told the company he will retire. "The effective date of his retirement has not yet been determined," it said. "Patrick indicated that he …
Kat Hall, 11 Mar 2015
Bank vault

Mortgage data splashed all over the net. Thanks HSBC Finance

HSBC Finance in the US is notifying customers that it has inadvertently been publishing their mortgage data online since last year. HSBC is believed to have exposed customer names, account numbers, social security numbers, and telephone details, in a move which isn't being attributed to hackers, and as such is almost …
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Lame phone dodgers fleece finance's foolish and fat fingered

Scammers are attempting to fleece a hundred top US financial companies by registering phone numbers close to those in use by the firms, engineer Scott Strong says. Of some 600 top financial institutions across the US, 103 or about 20 percent had scammers register their numbers with only the last few digits altered in a bid to …
Darren Pauli, 19 Nov 2014

UK finance sector: IT security testing 'becoming close to mandatory'

Regulators are nearly at the point of requiring major financial services companies to participate in a cyber security testing programme, according to the Bank of England. Minutes from a meeting of the Bank's court of directors on 16 September (10-page / 45KB PDF) provide detail of some of the efforts being taken to improve " …
OUT-LAW.COM, 30 Oct 2015

Apple finance overlord Oppenheimer: I love Apple, but I gotta get this pilot licence. See ya

Apple's chief bean counter Peter Oppenheimer – the man who has been a constant during Apple's dark pre-iPod days and amid the meteoric rise since – is to call it a day at the end of September. The Cupertino finance lord manages all the grey aspects of the colourful tech vendor's biz including treasury, information systems, …
Paul Kunert, 04 Mar 2014

To defend offshore finance bods looting developing countries of their tax cash

Worstall @ the Weekend I have been set a task by Reg Commentard Salamander: to critique or defend the offshore finance system. This should be easy enough as I'm clearly a pig dog running lackey of the plutocrats and so the answer is just yes. Whatever they pay me to say. Sadly, there are no plutocratic cheques flying around, just those from the …
Tim Worstall, 05 Apr 2015
The Register breaking news

BAN UK tax breaks on patented tech, fumes German finance minister

German finance minister Wolfgang Schäuble has called for a ban on so-called "patent box" tax breaks offered by Blighty, the Netherlands and other EU member states. Schäuble told reporters after a European economics meeting that the tax breaks - offered to companies on patented inventions - resulted in unfair competition for …
Torpedo

Two big risks could torpedo Dell-EMC deal

+Comment The Dell-EMC merger deal, with EMC shareholders getting $33.15 per share, was announced on October 12 last year, when EMC shares traded up to $28.35 from September 29’s low of $23.13; they’d been rising since then on rumours of the deal. Now the EMC shares are worth $24.10. The deal involves EMC shareholders getting $24.05 …
Chris Mellor, 21 Jan 2016
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Apple's big secret: It's an insurance firm (now with added finance)

Analysis Remember "Peak Apple"? It looked vaguely plausible a couple of years ago. For years, the media had stoked consumer expectations of Apple continuing to launch blockbuster, category-defining, market-making new products at regular intervals. Jobs’ biographer had disclosed that his "secret legacy" was “four years of new products …
Andrew Orlowski, 10 Sep 2015
£10 notes. Pic: Howard Lake

Six Degrees grabs £12m pot of cash from private equity overlord

The private equity backer that coughed for hosting and managed services outfit Six Degrees has stumped up £12m to fund organic expansion in 2016. The cash injection comes half a year after Charlesbank Capital Partners beat off competition from other finance houses to buy Six Degrees - the sale process started in February and …
Paul Kunert, 05 Jan 2016
Prison window

IT finance bod coughs to slurping £130k from customers' accounts

IT finance provider Syscap account manager Leigh Jones has been sentenced to 24 months in jail after pleading guilty to nicking more than £100,000 from customers. Jailbird Jones, 40, found that his six-figure earnings weren't enough to fund his spiralling gambling habit. A clerk at Chester Crown Court confirmed to us that Jones …
Paul Kunert, 08 Nov 2013
Empty racks awaiting customer kit at HP's Aurora data centre

TransACT beefs up data centre for Dept of Finance

The Australian Department of Finance and Deregulation has amplified its data centre requirements signing a AUD$8.6 million deal with iiNet owned TransACT for the provision of data centre services. TransACT secured the ten year agreement after being selected by the Australian Government Information Management Office (AGIMO) to be …
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Cashing it in: Personal finance apps – the best and the rest

Review Greater individual control over personal finance is booming, with the British Bankers Association (BBA) reporting 5.7 million transactions a day are now made from smartphones. This is transformational stuff, but it’s not all about current account apps. Personal finance guru Jennifer Newton follows the money and finds the best …
Jennifer Newton, 26 Oct 2014
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UK NHS-backed health apps 'riddled with security flaws'

As if striking junior doctors weren’t enough, the UK's NHS also has technology worries, according to a study by app security firm Arxan. All of the NHS-approved apps Arxan audited lacked binary protection against code tampering, and most also lacked adequate protection in the transport layer. Flaws also emerged in FDA-approved …
John Leyden, 13 Jan 2016

Swedbank smacked by DDoS attack

Scandi finance house Swedbank has been hit by a DDoS attack, which has taken down access to online banking via its website. Customers can access their online accounts through a specific URL but are unable to transact with the bank through its website. Mobile applications and payments continue to function, Swedbank spokesman …
Kat Hall, 06 Nov 2015

Serco issues shares to plug finance gap after profit warning

Serco is looking to plug the gap in its finances from weaker-than-expected results via a share placement estimated to haul in £100m worth of filthy lucre. This follows yesterday's latest profit warning and confirmation that long-standing CFO Andrew Jenner is to quit after 17 years of counting beans, once a successor is found …
Paul Kunert, 01 May 2014

Slashdot, SourceForge slurped by travel publisher

Slashdot and SourceForge have been offloaded by owner DHI media, which has found them a new home at a company called BizX. The two sites were put on the chopping board in July 2015 when DHI, best known as operator of jobs board Dice, decided it stick to its knitting. Up then, went the sign: “For Sale, one Linux-centric news …
Simon Sharwood, 01 Feb 2016

Apple CEO visits EU regulator to discuss tax bill

Apple chief executive Tim Cook met European competition commissioner Margrethe Vestager in Brussels last week, apparently to discuss the European Commission's investigation into the company's tax affairs. The Commission confirmed that a meeting had taken place but said it could give no further details. The Commission is …
OUT-LAW.COM, 25 Jan 2016
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Belgium trolls France with bonkers new commemorative coin

Belgium has taken international trolling to the next level by minting a €2.50 coin to celebrate the Battle of Waterloo. France had objected to the plan to mint a €2 coin to mark the 200th anniversary of Napoleon's defeat and Belgium duly scrapped 180,000 coins. France said the battle “has a particular resonance in the …
Jennifer Baker, 11 Jun 2015
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Another Insight exec spotted racing toward exit

Simon Taylor, EMEA senior veep of operations at cloud-wannabe reseller Insight Enterprises, is the latest big cheese to quit the firm with the regional chief finance exec Russell Leighton taking on dual responsibilities. The 14-year Insight veteran has left the building - staff were told of his departure yesterday afternoon …
Paul Kunert, 18 Jun 2015
Sydney Harbour Bridge in the cloud

New South Wales to create Ministry of Truth

UPDATE The Australian State of New South Wales has created a whole-of-government data analytics centre. Innovation and better regulation minister Victor Dominello announced the centre yesterday, proclaiming that “Data is one of the greatest assets held by government, but when it’s buried away in bureaucracy it is of little value.” “ …
Simon Sharwood, 04 Aug 2015
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IBM buys top Workday channel partner

IBM is beefing up its human resources software roster by buying Meteorix, a Boston MA reseller with more than 200 Workday consultants. Financial terms are undisclosed. Workday competes directly with Oracle for finance and HR software business in large enterprises – IBM’s heartland too. The SaaS provider is on a roll, …
Drew Cullen, 29 Sep 2015
Abbott and Costello dressed as policemen

North Wales Police outsourcing deal results in massive overspend

Attempts by North Wales Police (NWP) to rationalise IT spending have backfired after a project aimed at saving them money by moving towards a single supplier went seriously over-budget. The police force hoped to save £700,000 per year by outsourcing multiple functions to a single (unnamed) IT contractor but wound up spending £ …
John Leyden, 18 Dec 2015
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Juniper turns around in 2015, worried about 2016

Juniper Networks has managed to disappoint Wall Street with revenue growth, a turnaround from loss to profit and earnings per share better than analyst forecasts. The problem? It doesn't like next year's outlook. Its Q4 2015 revenue of US$1,319.6 million was 20 per cent better than Q4 2014 and six per cent ahead of Q3, with a …

Apple to add 1000 jobs to Cork payroll

Apple is expanding its Cork, Ireland manufacturing plant - where it builds its iMacs - and will hire up to 1000 more people in the next 18 months. CEO Tim Cook announced the move today in an address to students at Trinity College Dublin. The company already employs 5000 at its Hollyhill campus - a 25 per cent increase over the …
Drew Cullen, 11 Nov 2015
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NetNames hires turnaround king Steve Vaughan

Self-anointed turnaround expert Steve Vaughan has parachuted into NetNames as non-exec chairman, presumably to improve things at the loss-making domain name registration firm. Vaughan has a track record of saving ailing companies, and managed to improve the fortunes of Phoenix IT Group, stemming the losses and preparing it for …
Paul Kunert, 15 Jan 2016

Syscap waves £50 million in CASH at UK tech channel

Finance provider Syscap has set its sights on wooing back the channel by waving at least £50m in cash at partners seeking funding. The firm began life as a channel finance provider, but has since moved into other sectors, such as legal businesses. It currently funds around £30m-£35m to 700 partners - some 10 per cent share of …
Kat Hall, 18 Nov 2014

Biz jabber tool Slack realises it needs a Chief Security Officer

Slack has just hired a Chief Security Officer, with former Palantir CISO Geoff Belknap coming in to shore up the security of a cloud-based operation holding an awful lot of sensitive business communications. Slack, the team collaboration tool masquerading as an unadventurous man's IRC, has seen huge adoption across the …
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China to set up its own virtual currency

The People's Bank of China (PBOC), China's central bank, hopes to launch its own virtual currency to cut the cost of handling paper money and to give the government more control of the country's money supply. A research team has been looking into digital currencies since 2014 and has achieved some encouraging initial results. …
OUT-LAW.COM, 22 Jan 2016
The Register breaking news

German finance agency suspends site over serious security bug

Germany's federal finance ministry has pulled its website offline after receiving notification of a serious security problem from white hat hackers affiliated to the Chaos Computer Club (CCC). Flaws on the the Federal Finance Agency website reportedly created a means to spy on customers of the government agency, steal login …
John Leyden, 14 Mar 2011
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Embattled Barracuda Networks looks for buyer – report

Barracuda Networks, with its back against the wall after a string of poor quarters and collapsing stock price, is reportedly looking for a buyer. According to Bloomberg, Barracuda engaged with Morgan Stanley to look for a buyer some months ago. The company provides data protection and security products for small and medium …
Chris Mellor, 02 Feb 2016

Rumor mill in overdrive as Dell pumps up Perot price, Atos offers $4.3bn

The sale of Dell's hospital IT consulting arm, Perot Systems, has hit a frenzy of speculation, with Atos reportedly leading the pack of companies with a $4.3bn offer. Dell let companies know it wanted to auction off Perot late last year and put out a $5bn price tag. Since then a series of media leaks have pitched companies …
Kieren McCarthy, 05 Jan 2016

Sources: Coms calls on corporate financer to flog telco biz

Embattled London-listed corporation Coms plc has tasked Knight Corporate Finance with finding a buyer for its voice division – and sources tell us that time is of the essence. The business comms outfit, which split with CEO David Breith in February after a boardroom bust-up, enlisted Paul Billingham, founder at Knight, last …
Paul Kunert, 17 Apr 2015

Oz government to put dark fibre net on the auction block

The Australian government's dark fibre network, ICON, is one of the many assets slated for sale under tonight's federal budget announcements. ICON – the Intra Government Communications Network – has a total of 150,000 km of dark fibre linking 400 sites in Canberra, and is used by 88 agencies. The Department of Finance says the …
The Register breaking news

German finance ministry tags fraudsters’ phishing form

The German Ministry of Finance has applied some lateral thinking in order to warn potential victims of a new phishing campaign. Fraudulent tax refund emails doing the rounds in Germany seek to con marks into handing over sensitive information in order to claim a tax refund. The scam email uses images pulled from the genuine …
John Leyden, 11 May 2011
£10 notes. Pic: Howard Lake

Financial Conduct Authority wastes £3.2m on unnecessary Oracle licences

The banking regulator responsible for ensuring good behaviour in the world of finance may need to get its own house in order, at least when it comes to software licensing. The Financial Conduct Authority has admitted to wasting £3.2m on Oracle licences it did not need, according to This is Money. Oracle offered the FCA …
Kat Hall, 10 Sep 2015
European commission photo via Shutterstock

Clock's ticking: Euro Commission considers Dell-EMC megacorp

EMC/Dell deal Competition authorities at the European Commission will either rubber-stamp Dell’s proposed $67bn slurp of EMC by the end of next month or launch a full-blown probe. The largest buy in tech history is expected to close between May and October, according to the companies - but this is assuming anti-trust regulators approve it …
Paul Kunert, 26 Jan 2016

Midland tech dynasty launches The Bank of Rigby

Nigel Jenkins – a senior veteran of corporate leasing at HP, Cisco and Microsoft – wants to turn the tables on his old employers from his base camp at Rigby Capital, the sister firm of services-based reseller SCC. Jenkins, the GM who joined the business in July having worked at the big three, reviewed the existing process of …
Paul Kunert, 15 Apr 2015

Dixons Carphone CEO dances on rivals’ graves, swipes share from survivors

Christmas is unlikely to come early for Brit shoppers at Dixons Carphone. Essentially, the retail borg is awash with cash so it won’t on this occasion need to slash prices to counter a summer of soggy sales. Numbers at the half-way point of fiscal ’16 – ended 31 October – filed this morning, showed like-for-like revenue up …
Paul Kunert, 16 Dec 2015
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Softcat hires Domino’s Pizza man as NED ahead of IPO

Softcat has hired former Domino’s Pizza beanie Lee Ginsberg as non-exec director ahead of its long awaited flotation on the London Stock Exchange. The Marlow-based biz is tipped to list next month with a valuation estimated to be between £400m to £500m, the first time a local reseller has floated in years. Credit Suisse was …
Paul Kunert, 09 Oct 2015
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CSC boss Gossain is now an ex-exec

CSC UK chief Sanjiv Gossain has joined the not-so-selective club of ex-execs, leaving the ailing integrator less than two years into his tenure. In a wonderful blurt of business-speak, CSC sent us a statement on his departure, confirming Gossain is leaving to “pursue other opportunities as he transitions to the next chapter of …
Paul Kunert, 01 Feb 2016
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Dell seeking $40 BEEELLION to buy EMC NEXT WEEK say reports

EMC/Dell deal Dell is figuring out how to borrow the US$40 billion it would need to acquire EMC, according to reports quoting the usual folks familiar with the deal. CNBC says Dell is prepared to offer $27 a share to buy EMC. It'll need to because EMC shares closed today at $27.18, up $1.22. Bloomberg's take on the deal also uses the $40 …
Simon Sharwood, 08 Oct 2015

Outsourcing tanker CSC sales growth torpedoed

Leaky outsourcing tanker CSC saw sales growth drift off on the horizon for yet another quarter – the first of its fiscal 2016 – but the services slinger is back in the black, without the help of tax benefits. The fact CSC slashed costs and expenses by nearly half a billion dollars had nothing to do with bottom line beefiness, …
Paul Kunert, 12 Aug 2015

Intel inks $8bn debt deal, preps for Altera buy

Intel has bumped up its debt levels by $8bn (£5.2bn) to $20bn (£16bn), ahead of its $16.7bn (£10.4bn) gobble of data centre chip outfit Altera. The Chipzilla admitted to taking on huge debt levels during its third-quarter results conference call. During the three-month period it generated revenues of $14.5bn (£9.4bn) and a …
Kat Hall, 15 Oct 2015
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Softcat hires another non-exec director as '£500m' IPO nears

The ranks of non-exec directors at Softcat continue to swell, with former Staples UK president Peter Ventress hired ahead of the reseller’s LSE flotation, slated for next month. The appointment of the 65-year-old was confirmed in a Companies House filing. Ventress is also CEO at industrial laundry service Berendsen UK and non- …
Paul Kunert, 19 Oct 2015

IBM still on a (downward) roll with 15th consecutive quarterly revenue drop

IBM continues to take a beating as it struggles to transition its business to a focus on cloud and analytics products. The fourth quarter of 2015 brought the following returns: Revenue was $22.1 billion, down 9 per cent from the previous year's quarter. Net income was $4.5bn on the quarter, down 19 per cent. Earnings per …
Shaun Nichols, 19 Jan 2016

Yahoo! Gits! Web! Security! Scanner!

Yahoo! has opened the kimono on a project it hopes will make the Web that little bit safer for everyone, Project Gryffin. The project's so new, its to-do list includes “Link to news/finance scan video” – and, El Reg would add, someone might go over the project's GitHub page with an editor's pencil in hand. The company …

Davos 2016: It's now all about technology, but what actually happened?

Sketch It used to be that the annual meeting of the World Economic Forum (WEF) in the Swiss ski resort of Davos was all about finance and politics. But since it turned out that the bankers were almost exactly as corrupt and incompetent as the small cadre of protesters that stood in the snow every year insisted they were, finance has …
Kieren McCarthy, 23 Jan 2016