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Articles about Finance

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
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
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 …
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 …

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

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

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
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

Finance watchdog: Big fingers + tiny mobe screen + banking = doesn't end well

Companies providing mobile banking services must consider how to overcome limitations in mobile device screen sizes in order to help consumers avoid making erroneous payments, the Financial Conduct Authority (FCA) has said. In an interim report (12-page/724KB PDF) it published as part of its ongoing review into mobile banking, …
OUT-LAW.COM, 29 Aug 2013
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
The Register breaking news

Finance bods probe RBS over bank-crippling IT cock-up

A banking watchdog has launched an investigation into the IT meltdown that crippled bank accounts held by millions of NatWest, RBS and Ulster Bank customers in June last year. The Financial Conduct Authority (FCA) has begun a probe into the disaster, which saw the RBS group unable to process payments following a catastrophic …
Jasper Hamill, 10 Apr 2013

Former Toshiba bigwig Andy Bass rocks up at Open Symmetry

Former Toshiba exec Andy Bass has landed at sales performance management (SPM) consultancy Open Symmetry as head of European ops. Bass recently exited Toshiba after 24 years' service amid a regional cost cutting shake-up that saw his dual roles as European veep for the PC and TV biz and UK country director evaporate. SPM …
Paul Kunert, 17 Mar 2014
Steve Jobs in a grade-school classroom

See me after class: Apple scores AAA rating from brand-botherer

Apple has been named the world's most valuable brand for the third time in a row, with No 2 Samsung narrowing the gap slightly but still trailing behind. According to Brand Finance's Global 500 list, Apple's brand value in 2014 is $104bn, up 20 per cent from $87bn in 2013. Samsung, meanwhile, was judged to be worth $79bn, up …
Jasper Hamill, 19 Feb 2014
Scrooge McDuck

G20 gives Google, Microsoft, Apple et al tax deadline

The world's top 20 finance ministers have signalled once again that they're sick of their taxes disappearing offshore and have signalled a strong intention to get their cash back. The ministers in question are all members of the Group of Twenty (G20) and gathered in Sydney, Australia, over the weekend. The Communiqué (PDF) …
Simon Sharwood, 23 Feb 2014
Facebook logo

Zuck talks up mobile shift as Facebook money mill rolls on

Facebook once again topped analyst forecasts with the delivery of a $2.5bn revenue quarter on the strength of a 72 per cent jump in revenues. The company said that over the first quarter of 2014 it logged a total of $2.27bn in ad revenues with more than half of that haul coming from mobile ad displays. In total, ad revenues were …
Shaun Nichols, 23 Apr 2014
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

Mega-distie Ingram Micro cops to plans to axe jobs, padlock offices

Ingram Micro has confirmed that the "delayering" exercise that it was cagey about a fortnight ago will indeed involve redundancies across European ops as it centralises back-office functions. The beefy tech wholesaler revealed earlier this month that it is trying to figure out ways to slash annual overheads by $100m, speed up …
Paul Kunert, 27 Feb 2014
The Register breaking news

Sales, meet Finance

Sales and finance are the two parts of business closest to the commercial coal face. One’s about generating money and the other’s about channelling and reporting funds. Both are occupied directly with customers: who they are, what they need, what they have bought, whether they have paid. From the buyer’s perspective, the …
Nathan Coates, 25 Mar 2011
management strategy4

Return of the king: Gass anointed Tech Data UK boss again

A little over two years after ending his second stint as Tech Data's UK and Ireland head honcho, Andy Gass is set to recline into his old MD chair again, with current incumbent Peter Hubbard to take over at the local Mobile sub. Company veteran Gass only moved upstairs to be senior veep of south and west Europe at the start of …
Paul Kunert, 19 Feb 2014

How much do you trust T-Mobile US? Enough to let it be your bank?

T-Mobile US is now offering debit cards that can be managed using a smartphone app. The network operator and Bancorp Bank today launched the prepaid cards and software as Mobile Money, which is aimed at its subscribers who want to, for example, cash paychecks without having to pay middlemen a fee. Each of the T-Mobile-US- …
Shaun Nichols, 22 Jan 2014

Tech Data: We need ethics, and we've found the right man

It comes to something when a corporation is forced to appoint a chief ethics and compliance officer but that is exactly what distributor Tech Data has done, weeks after completing its costly accounting investigation. Fourteen-year company veteran Jean-Paul Durand – who most recently served as TD's vice president, assistant …
Paul Kunert, 18 Feb 2014

Apple hires ex-SENATE staffer for added WASHINGTON POWER

Apple has hired a veteran Washington lobbyist in an apparent attempt to boost its influence in the seat of American power. Amber Cottle will now be the fruity firm's top lobbyist after leaving her post as democratic staff director for the Senate Finance Committee. Apple has spent a lot of time in Washington recently, with Tim …
Jasper Hamill, 25 Mar 2014
Downing Street road sign

We'll stop Johnny Foreigner gobbling our biznovation - UK gov

Westminster has admitted that foreign companies are poaching British start-ups and has promised to make sure cash raised from innovation stays in the country. The problem was first highlighted in a report called Bridging the valley of death: improving the commercialisation of research, which was published in March. The …
Jasper Hamill, 16 Jul 2013
chart

CEO Marissa Mayer puts on brave face as Yahoo! shows another loss

Yahoo! has once again seen revenues slip as CEO Marissa Mayer struggles to get the company back on track. The Purple Palace reported quarterly revenues of $1.27bn, which was down 6 per cent from the same period last year. Full-year revenues also fell 6 per cent, to $4.68bn. Yahoo!'s operating income for the quarter was $174.22m …
Shaun Nichols, 29 Jan 2014
Facebook party

Facebook's dying? HA! Get ready for another DECADE of us – Zuck

Facebook raked in revenues of $7.87bn in 2013, up 55 per cent on the previous year, according to company filings published today. The social network's latest finance reports show that in the final quarter of 2013 alone, sales climbed 63 per cent year-on-year to top out at $2.59bn. On the 12 months to December 31, 2013, and …
Shaun Nichols, 30 Jan 2014
Tech Data

IT distie Tech Data must end accounts-unbungling probe within a fortnight

NASDAQ-listed Tech Data has less than a fortnight to get its accounts in order and financial filings up to date, the distributor acknowledged last night. The Florida-based broadline IT distribution giant discovered whopping great errors in its finance records at UK subsidiary C2000 back in March, which were related to blunders …
Paul Kunert, 13 Sep 2013
michael_dell

Friends with money: Dell's big bet on private finance

If not a gambler, Michael Dell seems certainly a born showman. With his 50th birthday on the horizon, when most people his age and with his billions might be thinking of slowing down or going philanthropic, he and his PC company have begun a brand new phase. Dell, a native of the brassy US state that lends its name to a brand of …
Gavin Clarke, 07 Feb 2013
Delia Derbyshire tweaks a Jason oscillator

BBC Trust: 'LA LA LA I'M NOT LISTENING' to this DMI mega-tech FAIL

The BBC failed to heed warnings given as early as 2010 that its Digital Media Initiative uber-project was vague and getting nowhere - according to the National Audit Office, which published its investigation into the disaster today. Executives at the Beeb's finance committee, its executive committee and the BBC Trust all …
Andrew Orlowski, 29 Jan 2014
channel_teaser_exit

Tech Data suspends four amid accountancy probe

Four middle managers in the finance function at Computer 2000 have been suspended as the distributor continues to investigate improprieties into vendor accounting errors. Back in March Tech Data, parent of UK arm C2000, revealed it would restate results for fiscal 2011, '12 and some or all of '13 that could wipe out between $25m …
Paul Kunert, 17 May 2013

Tech Data goes for big gun credit man amid accounts probe

Tech Data UK has opted for a big hitter to head up its credit function amid the continued probe into accounting irregularities. Blighty's largest distributor has hauled in former Sun Microsystems global credit manager Kevin Corcoran as director of credit services and after sales management. The second element to the title is …
Paul Kunert, 27 Nov 2013
Monty Python Norwegian Blue dead parrot sketch

Twitter shares tank as blabbergasm implodes in full glare of unforgiving investors

Twitter shares fell sharply on Wall Street today, wiping out about a quarter of the value of the micro-blogging site within minutes of trading opening in New York. The precipitous fall came after the company reported disappointing results in its first quarterly finance call since taking Twitter public last year. It's been a …
Kelly Fiveash, 06 Feb 2014
Evil Android

Hey, you know Android apps can 'access ALL' of your Google account?

The single-click Google account login for Android apps is a little too convenient for hackers, according to Tripwire's Craig Young, who has demonstrated a flaw in the authentication method. The mechanism is called “weblogin”, and basically it allows users to use their Google account credentials as authentication for third-party …
Bill Ray, 06 Aug 2013

HDS: channel STILL 60-65% of UK biz, says local COO

HDS' UK COO reckons the proportion of channel sales relative to the direct biz hasn't shifted in recent years because it failed to carve up "solutions" and "services" for partners. The previous management including UK boss Stephen Ball - a Computacenter staffer - said in 2011 that within three years he wanted partners to …
Paul Kunert, 21 Mar 2014
The Register breaking news

Kiwi telco Two Degrees to roll out 4G in 2014

Junior New Zealand telco Two Degrees Mobile is getting ready to roll out 4G, with deployment to start in 2014. The decision to launch into the 4G market follows confirmation of a funding facility from the Bank of New Zealand, worth $NA165 million. Chinese vendor Huawei, which built its current 3G network. The BNZ funding will …
wall_street

Apple blows past (most) Wall Street moneymen's expectations

After Apple announced its new iPad Air and iPad mini with Retina display last October, CEO Tim Cook offered the hopeful opinion that "it's going to be an iPad Christmas." Turns out his hopes were fulfilled. Apple has announced its financial results for the first quarter of its fiscal 2014 – which happens to coincide with the …
Rik Myslewski, 27 Jan 2014
management regulation2

Japan preps new law to bolster government cyber defences

Japanese lawmakers are urgently preparing a new bill designed to allow the government’s information security agencies cut through the bureaucracy that is crippling their ability to deal with online threats. The proposed law would give the National Information Security Centre (NISC) and its Government Security Operation …
Phil Muncaster, 12 Mar 2014
HP cloud

HP bypasses Microsoft in device-as-a-service assault

HP is trying to prise open SME wallets by rolling out a device-as-a-service pilot Stateside – with wider deployment in Europe set for the summer. The Office in a Box initiative created with Google – not Microsoft – and telco AT&T was launched with US distie Synnex, which created an online configuration tool. The model is pretty …
Paul Kunert, 26 Mar 2014
channel

HP assigns $2bn of finance in CIO cloud investment prod

Hewlett-Packard's financial services arm has set aside $2bn (£1.2bn) for customers to buy its cloud technologies. At the same time, the US tech monster lifted the covers off the CloudAgile Service Provider programme which it is piloting with 10 services providers globally, including reseller SCC in the UK. The financing scheme …
Paul Kunert, 09 Jun 2011
The Register breaking news

Canadian finance ministries closed off from web after cyberspy hack

Chinese hackers have been blamed for looting sensitive Canadian government documents, forcing two government departments off the internet as a response. CBC reports that the attacks, first detected in January, have been traced back to Chinese computer networks – while noting the important caveat that compromised systems in China …
John Leyden, 17 Feb 2011

Sony US PlayStation supremo Jack Tretton ejects after 19 years

Sony Computer Entertainment of America (SCEA) is parting ways with its longtime chief executive Jack Tretton: he will step down from his post and leave the company at the end of the month. The company said Tretton has been with Sony since the launch of SCEA nearly two decades ago, and added that the departure was by "mutual …
Shaun Nichols, 07 Mar 2014
management strategy3

EMC hires channel veteran as new EMEA COO

Former Colt Technology Services grand fromage Simon Walsh is set to become one of the top brass at EMC EMEA, according to multiple industry sources. Walsh, an exec director at Colt, exited the business back in November along with a couple of his lieutenants following nearly three years at the firm. Sources told us that Walsh …
Paul Kunert, 15 Jan 2014

AMD stock soars after positive quarterly report

AMD's stock rose by as much as 13 per cent on Monday morning when the Wall Street moneymen returned to work after their Good Friday holiday and rewarded the microprocessor and graphics design firm for its upbeat financial report for the first quarter of 2014. AMD's Monday, April 21 stock price rise We can hear the champagne …
Rik Myslewski, 21 Apr 2014
European Union Flag

Euro Parliament axes data sharing with US – the NSA swiped the bytes anyway

The European Parliament has voted to halt the Terrorist Finance Tracking Program (TFTP), an agreement to share data on financial transactions in the Continent with the US – after documents leaked by Edward Snowden showed the NSA was hacking the system anyway. "Parliament stresses that any data-sharing agreement with the US must …
Iain Thomson, 24 Oct 2013

Finance CIOs sweat as regulators prepare to probe aging mainframes

Could the watchful eyes of regulators soon come to rest on the old and often creaking IT systems that run the back offices of the UK’s leading banks? Among CIOs in the sector, there’s a palpable concern that they will. It’s no secret, after all, that most retail banks rely on decades-old technology for their core banking systems …

Chinese government builds its own 'ChinaSo' search engine

The Chinese government is having another pop at the local search market after merging two previous failures into a new service, dubbed ChinaSo. The search engine has risen from the ashes of Jike, launched three years ago by Communist Party mouthpiece the People’s Daily, and Panguso, which was launched by Xinhua in the same year …
Phil Muncaster, 04 Mar 2014
The Register breaking news

Finance software bug causes $217m in investor losses

A developer of financial software has agreed to pay $2.5 million to settle charges stemming from his concealment of a bug that caused about $217 million in investment losses. Barr M. Rosenberg, 68, of Sea Ranch, California, developed the quantitative investment modeling software and put it into production in 2007 to help …
Dan Goodin, 22 Sep 2011
TwitterIPO

Twitter sets up BEELLION-DOLLAR credit line ahead of IPO

Twitter has set up a billion-dollar loan ahead of its initial public offering from a group of big banks. The microblogging site has set up a revolving credit facility from Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch and Deutsche Bank, as well as others, sources whispered to Reuters. All five banks are …

Ireland revisits tax laws to cook Apple

The Republic of Ireland has decided to take another look at its status of “tax haven of choice” for the tech sector. The nation has flagged its intentions in a Department of Finance "policy statement" (PDF) that Finance minister Michael Noonan says "... for the first time ... sets out Ireland’s International Tax Charter – a set …

Players, insert coin: PlayStation 4, Xbox One top up AMD's coffers

AMD's provision of processors for Microsoft's Xbox One and Sony's PlayStation 4 consoles appear to have worked its magic on the chip maker's bottom line. The company's revenue for its fourth quarter of 2013 came in just above analysts' estimates, and significantly above its earnings for the same quarter in its previous fiscal …
Rik Myslewski, 21 Jan 2014
closed_sign shut down under collapsed liquidation

Brit telly, laptop flogger Gimmi goes titsup owing whopping £1m

The collapse of Cheshire-based etailer Gimmi left a string of suppliers with debts totalling £1m, the creditor's report has revealed. The web shop, which flogged tablets, smartphones, 3D TVs, and laptops was placed into the hands of administrator Cowgill Holloway Business Recovery (CHBR) on 8 May. The two-year-old firm was only …
Paul Kunert, 16 Jul 2013