Articles about Finance

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 definitely …
spark fun electronics rotary dial mobile phone

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

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 …
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
hands waving dollar bills in the air

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
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 …

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
Battle_of_Waterloo_William_Sadler_II

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 collective …
Jennifer Baker, 11 Jun 2015
channel_teaser_exit

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

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 …

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

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 week …
Paul Kunert, 17 Apr 2015

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
Japan

US spied on Japanese PM Abe, Mitsubishi, and so much more

The NSA spied on Japan's prime minister, central bank, finance ministry and major corporations, such as the natural gas division of Mitsubishi, according to documents released today. The targets of the cyber-spying included stealing secrets on US-Japan relations, trade negotiations and climate change policy. Fruits of the …
John Leyden, 31 Jul 2015
The EcoBot's artificial heart. Pic: Bristol Robotics Laboratory

MEPs: Oi, Juncker! Hands off our science and research dosh

MEPs are pushing back against European Commission plans to slash science funding. Commish president Jean-Claude Juncker wanted to remove €2.7 billion from the €80bn budget of Horizon 2020, but according to science groups including the European Association for Chemical and Molecular Sciences, the League of European Research …
Jennifer Baker, 23 Apr 2015
Sydney Harbour Bridge in the cloud

New South Wales to create Ministry of Truth

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
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
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

Gobblefest on horizon for managed services pair

The sales process for a couple of native data centre providers is gaining some momentum, with Six Degrees edging closer to a deal and Adapt appointing a corporate financier to market the business. London-based Six Degrees called on DCC Advisory in February to sell the voice and data hosting firm by April, as we exclusively …
Paul Kunert, 15 May 2015
Glorious future of China

China unveils Internet Plus plan for FIRST time (actually third time)

Back in March, Chinese Premier Li Keqiang announced the “Internet Plus” plan, an effort to stimulate China's growth. In late June he did it again at a State Council Meeting. And over the weekend he did it again, announcing that an “action plan” is now in place to make Internet Plus a reality. The plan – reported in identical …
Simon Sharwood, 06 Jul 2015
Meme of a dog "typing" at a computer, with the large font phrase "I have no idea what I'm doing' above him.

It's official: David Brents are the weakest link in phishing attacks

Middle management are increasingly becoming the focus of phishing attacks, according to a new study. Managers received more malicious emails and doubled their click rates year-on-year, according to a study by security company ProofPoint. Senior staff seemed more clued up about dodgy emails, meaning managers and staff clicked on …
John Leyden, 22 Apr 2015

Arrow aims at IT, finance bods to shoot down $20m in spending

Arrow Electronics hopes to save a further $20m in overheads as it battens down the hatches for a "period of slow growth". The global distie heavyweight saw sales decline seven per cent to $5.15bn (£3.28bn) for Q2 ended 30 June as profits sank by more than 26 per cent to $114.4m (£72.8m). The company's Enterprise Computing …
Paul Kunert, 31 Jul 2012
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

OECD nations gang up on internet retailers, tax dodgers

Australia's treasurer* Joe Hockey has revealed that he and other money ministers from the Organisation for Economic Co-operation and Development (OECD) have shared plans to have online retailers charging the appropriate consumption tax on intangibles and goods bought online, at the rate of the buyer's home nations. Australia's …
Simon Sharwood, 11 May 2015
No Sale

Salesforce snubbed Microsoft's $55bn biz gobble offer – report

Microsoft wanted to buy cloud giant Salesforce.com for $55bn, it is reported. CNBC, citing anonymous sources, today claims the Windows goliath offered the 11-figure sum to Salesforce, but boss Marc Benioff wanted $70bn – a whopping price tag that ultimately sunk the deal. Salesforce has a market cap of $48.48bn. The talks …
Shaun Nichols, 22 May 2015

UK NHS IT supplier CSC coughs up $190m fine, three execs in the dock

Computer Science Corporation has paid its $190m (£122m) fine, levied by US watchdog the Securities and Exchange Commission over charges the Virginia-headquartered biz fudged its financial reports. And now some senior executives have agreed to hand back millions of dollars in pay and bonuses as a result of the SEC's probings. …
Iain Thomson, 05 Jun 2015
Microsoft's Windows 7 launch party announcement: German version

Man trousers $15,000 domain name for $10.99 amid registry cockup

Bruce Marler could hardly believe his luck. "I had to double check it, triple checked it, then added it my shopping cart with a few web domains my wife had chosen as well, did not tell her, let her go order sushi and then told her what just happened," he said. A few moments later he had registered the domain credit.club for $10 …
Kieren McCarthy, 28 Jan 2015
fingers pointing at man

Shift to cloud computing puts squeeze on resellers' finance

The channel's long-term shift to cloud computing and managed services will force resellers to totally rethink historic forms of finance. Financial mechanisms including invoice discounting (ID) have long been used as an overdraft facility by some smaller and mid-market dealers to support cash flow but this avenue looks likely to …
Paul Kunert, 06 Dec 2011

Phone scamming up 30 percent last year: Report

Retail and finance call centre phone scamming in the US is up 30 percent according to research. The 2014 findings are based on some 86 million scam calls a month picked up by Pindrop Security in which attackers aimed to obtain personal information on potential victims. The phone security company says one in 2200 calls are …
Darren Pauli, 18 Jun 2015
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Cisco spraying $1bn over the UK, hipsters set for well-earned cash injection

Cisco has promised to splurge $1bn (£645m) in the UK over the next five years, investing in 'internet of everything start-ups' as well as promising to buy some real companies, too. The company claims the investment will support the next phase of Blighty's "digitisation" plans. It follows a 2011 commitment to splash $500m (£ …
Kat Hall, 09 Jul 2015

Senior execs at NTT Com Security quit, but not with immediate effect

Top brass at NTT Com Security are hot footing it out of the organisation at the end of next month, the company confirmed today. CEO Simon Church, formerly COO at reseller Integralis (which NTT acquired in 2009 to form the backbone of its security ops), and chief beanie Heiner Luntz, have quit. Climbing into the chief exec’s …
Paul Kunert, 23 Jun 2015

NO MORE DOUBLE IRISH, thunders Dublin. Erm, from 2020 that is

The Irish Finance Minister announced the end of the "Double Irish" tax break in his budget speech on Tuesday. Tech giants such as Facebook, Google, Apple and LinkedIn have taken advantage of Ireland’s lenient tax set-up for decades. But due to external pressure from Brussels and elsewhere, the emerald isle will outlaw the …
Jennifer Baker, 14 Oct 2014
"Typical E-scrapping dismantling operation. 100,000 such migrant workers labor in Guiyu breaking down imported computers in hundreds of small operations like this one in a four village area surrounding the Lianjiang River."

New racks, cables for aging and neglected data centres

Enterprises are shuttering their smaller data centres, but are opting to shift to larger upgraded facilities rather than shifting the whole shebang to the cloud. 451 Research’s Voice of the Enterprise: Datacenters survey found that in Q2 a whacking 87 per cent of data centre operators in Europe and North America are maintaining …
Joe Fay, 02 Jul 2015
The Register breaking news

iSoft finance boss barred

iSoft's former finance boss Ian Storey has been barred from practising as an accountant, and therefore as a finance director, for eight years after admitting charges of false accounting. Storey admitted that he gave false and misleading information to iSoft’s former auditors in relation to a supposed iSoft contract several times …
John Oates, 23 Mar 2010

Quadrillion-dollar finance house spams Reg reader with bankers' private data

Exclusive IT staff at the world's largest securities transaction clearing house are facing a rough few days after a Reg reader was inadvertently deluged with emails leaking session IDs, transfers, and account details for executives at big-name customers. The Depository Trust & Clearing Corporation (DTCC) handles the vast bulk of stock and …
Iain Thomson, 11 Dec 2013
two human shadows

Protecting users against advanced threats and the human factor

Register here to watch our on-demand Regcast, where we look at why the human factor is an important internet security risk. Register for the webcast here and watch this special three-part Regcast at your own convenience. Handy synopsis for you As we reported in April, you build security and the users muck it up. At a time …
David Gordon, 02 Jul 2015
Headshot of Trojan horse

Banking trojan scourge gallops on, despite more fences

RSA 2015 Banking botnets persist as a threat despite recent high-profile takedowns which only achieve a temporary calming effect, according to a new study from Dell SecureWorks. Between mid-2014 and early 2015, coordinated efforts involving law enforcement and private-sector industry disrupted three of the most active banking botnets ( …
John Leyden, 23 Apr 2015
Monster Beats Pro

Dr Dre's crew gets Beats-down from Apple: 200 jobs to go – report

Apple is planning to axe around 200 people from its new acquisition Beats Electronics, according to reports. Both Bloomberg and 9to5 Mac had folks whispering in their ears that the fruity firm would be making the job cuts now that its $3bn slurp of the headphones and music streaming biz was well underway. The deal was recently …
£10 notes. Pic: Howard Lake

Oh no! That's another year you didn't grow, KCOM

Brit telco KCOM Group has reported top line shrinkage for the seventh consecutive year, this time blaming problems on “legacy activities” while unsurprisingly pinning its future on cloud services glory. The tech integrator/ comms provider reported a 6.1 per cent fall in revenues to £347m for the year ended 31 March - the last …
Paul Kunert, 05 Jun 2015
Bank vault

Bank of England could mint own brand of Bitcoin

The Bank of England (BoE) has issued a piece of research suggesting, among other things, that it may not be a bad idea for it and other central banks to issue digital currencies. The “One Bank Research Agenda Discussion Paper” is the BoE's attempt to kick-start new banking thinking. The paper therefore considers five themes, …
Simon Sharwood, 26 Feb 2015
shutterstock_213172012

Visa mobilises its money out of mobile money firm Monitise

Once a stock market darling, mobile money expert Monitise is to lose Visa Europe as a major shareholder. The finance multinational has announced that it will “reduce its shareholding over time”. Visa Europe has steadily bought into Monitise, spending £2.1m in August 2012 when shares were around 30p, £15.6m in August 2013 when …
Simon Rockman, 08 Jul 2015
Photo of Mark Shuttleworth at CeBIT 2014

Ubuntu daddy Mark Shuttleworth loses fight to cancel $20m bank fee

Mark Shuttleworth has lost his long-running fight to reverse a US$20m (£12.8m) bank charge levied after he transferred a fortune out of South Africa. In 2001, Shuttleworth, the founder of Ubuntu Linux maker Canonical, emigrated from his home nation of South Africa to the Isle of Man. In 2008, he tried to withdraw R2.5bn (US$204m …
Shaun Nichols, 19 Jun 2015
Looks like DNA

Protecting users against advanced threats and the human factor

WEBCAST Register now to watch our live Regcast, where we look at why the human factor is an important internet security risk. Watch this video broadcast live today at 11:00 BST. Handy synopsis for you As we reported in April, you build security, and the users muck it up. At a time when productivity growth in many businesses has ground …
David Gordon, 18 Jun 2015

Alibaba: Soon the (e-commerce) world will be ours. And the cloud

Global e-commerce company Alibaba has set its sights on world domination, with its new chief executive outlining global expansion as the company's top priority. In his inaugural speech, Daniel Zhang said: “Over the next five, 10, 30 years, this is the journey. We must absolutely globalize and it must be a successful effort — if …
Kat Hall, 14 May 2015
classroom_shutterstock_648

RM’s core division will soon be resources, not tech, reckons analyst

The inevitable after-effects of withdrawing from hardware production and dwindling Building Schools for the Future contracts are leaving a huge hole at RM. The education specialist today filed interim results for the six months ended 31 May, and they make for good reading ... if you're a rival. Total revenue fell 13.3 per …
Paul Kunert, 06 Jul 2015

Tech giants gang up on Obama over encryption key demands

A pair of technology industry pressure groups have sent a letter to President Obama asking his administration to back off demands that companies give government agencies the ability to decrypt all user data. In the letter [PDF], the Information Technology Industry Council (ITIC) and the Software and Information Industry …
Shaun Nichols, 10 Jun 2015
Rand Paul

Rand Paul is trying to murder net neutrality. Is there a US presidential election, or something?

US presidential wannabe Rand Paul (R-KY) has filed a motion under the Congressional Review Act that could block the introduction of the Democrat-driven net neutrality rules. The joint resolution means both houses of Congress are highly likely to vote on a straight majority basis to reject the broadband regulations, drawn up by …
Iain Thomson, 30 Apr 2015