Articles about Finance

Terminator

What's SimpliVity CEO Doron Kempel and Arnie got in common? They'll both be back

Profile SimpliVity CEO and cofounder Doron Kempel is a two-time storage startup winner. With HPE buying his firm for $650m, what will he do next? Before becoming involved as a storage business executive, he had what seems like a classic Israeli tech entrepreneur’s experience in the Israeli Defence Forces, only more so – much more so, …
Chris Mellor, 20 Jan 2017

Did somebody say object storage? 9 ways to tell if there's a point

Comment Object storage is a relatively new market segment that has continued to grow steadily and is starting to find more reasons for adoption. For the uninitiated, object stores are used to hold large volumes of unstructured data, where each "object" is essentially a file with no specific format (also called a binary file). Object …
Chris Evans, 18 Jan 2017
Nerd fail photo via Shutterstock

Balancing miners borks blockchains, say boffins

The financial sector's enthusiasm for blockchain technology might be misplaced, according to a pair of Australian distributed computing experts. The problem: if everyone in a consortium trusts each other, they don't need blockchains to protect themselves; if they don't, current blockchain protocols have a flaw that allows a …
Scrooge McDuck

Tech moguls dominate Oxfam's rich people Hateful 8

Five of the world's eight fattest fat cats, whose collective wealth equals that of the world's 3.6 billion poorest people – according to a new report by Oxfam – are technology billionaires. Leading the pack is the charity-committed Bill Gates, with $75bn he's honestly trying to get rid of. Carlos Slim Helú has a net worth of $ …

Apple's CEO Tim Cook declines invitation to discuss EU tax ruling with Irish parliament

Tim Cook has turned down an invitation to appear before the Irish parliamentary finance committee to offer his thoughts on the EU's ruling over Apple's tax affairs with the nation. Last year, the European Commission ruled that tax arrangements between Ireland and Apple were in breach of the EU's state aid laws. It said the …

Busted Oracle finance cloud leaves Rutgers Uni unable to foot bills

Rutgers University is struggling to pay its bills on time amid a prolonged outage of its Oracle-powered management systems. It is claimed this IT failure led to power outages within its campus after supplies were cut off due to non-payment. The hedgerow-league college, in New Jersey, US, has publicly admitted its Cornerstone …
Shaun Nichols, 03 Jan 2017

Networks in 2016: A full fibre diet for UK.gov

Blighty’s post Brexit diet must include a "full-fibre" eating plan, or so says the UK’s new digital minister Matt Hancock. Amid all the political noise over the last 12 months, the volume for infrastructure investment was dialled up to 11. In the Autumn statement, chancellor Phillip Hammond announced a £400m "full fibre" …
Kat Hall, 03 Jan 2017
Bitcoin, photo via Shutterstock

Bitcoin breaks US$1,000

Bitcoin has surpassed the US$1,000 mark for the first time in three years. The high water mark was breached Monday trading at US$1,019 at the time of publication. It follows a steady increase in the value of the crypto currency in recent months buoyed by China's devaluation of the yuan, the removal of high valuation bank …
Team Register, 03 Jan 2017

Government calls for ideas on how to splash £400m on fibre

The government is asking for ideas on how it should splash £400m earmarked for fibre broadband investment. Its call for evidence document follows the announcement in the Autumn Statement, which aims to invest up to £1bn in digital infrastructure via matched private sector finance. It also intends to fling £700m at 5G - even …
Kat Hall, 29 Dec 2016

Why does Skype only show me from the chin down?

On-call Welcome again to a special festive On-Call, in which we dredge worthy tales from the On-Call inbox and give them a spin to compensate for the lack of pre-Christmas news. And also because lots of people write in and we should give lots of you a go. Today: stupid, stupid people with stupid explanations for simple things. Let's …
Simon Sharwood, 20 Dec 2016

Screw EU! Apple to fight back over €13bn tax bill

Apple and the Irish government are to appeal a European Union ruling that it should pay up to €13bn (£11bn) in back taxes in Ireland – in a decision that will surprise no one. Back in August the European Commission ruled that tax arrangements between Ireland and Apple were in breach of the EU's state aid laws, and said that …
Kat Hall, 19 Dec 2016
RDX_QuikStor

Sphere 3D has had two offers to buy parts of its business

+Comment Sphere 3D, the Canadian company which owns Overland Storage and Tandberg Data, has had two offers for parts of its business. The perennially loss-making concern, which was previously Overland Storage, which bought Tandberg Data, has never recovered from the decline in tape automation products. It received a first offer, a …
Chris Mellor, 19 Dec 2016
Kirk and Spock fight

Startup grind is over: Now Primary Data must compete with storage giants

Analysis Startups arrive with fanfares of new tech and product surprise and then face the long grind to grow their business to newsworthy market status while adding bells and whistles to the basic product. Getting the first product out of the door is a validation of all the technology trend analysis and development struggle involved in …
Chris Mellor, 19 Dec 2016
bang_648

MSP Redcentric: Our financial errors are WORSE than we thought

The extent of the financial mismanagement at London-listed managed services outfit Redcentric were outlined today, and they are way worse than the company signalled when the mistakes were first found. The business admitted last month that it has it had made multi-year accounting errors that meant it overstated net assets by at …
Paul Kunert, 14 Dec 2016
Swamp alligators crowd near muddy water pool. Photo by Shutterstock

Fancy that! Google was keen on 'draining the swamp' in 2013

Faced with a report showing Google’s advertising network allowed big brands' ad money to be spent funding criminal operations, Google welcomed initiatives to “drain the swamp” in 2013 - three and a half years ago. But guess what? The swamp’s still here. And it's feeding a different sort of creature now. Today the Wall Street …
Andrew Orlowski, 09 Dec 2016
Q in James Bond

UK.gov state of the nation report: Infosec's very important, mmmkay

The UK government’s first annual report on the implementation of the 2015 National Security Strategy has reaffirmed that cyber-security remains a key priority. The 39 page report (pdf) lists cyber-security alongside Russia’s actions in Syria and Ukraine and terrorism as among the greatest threats Britain faces. The range of …
John Leyden, 09 Dec 2016
NHM VR Experience audience

Microsoft boffins think VR visions will rival drugs by 2027

Search as people presently know it – a dialog box for typed queries – will vanish in a decade, according to Susan Dumais, distinguished scientist and deputy managing director of Microsoft Research Lab. Dumais is one of 17 Microsoft researchers who, in a blog post on Monday, offered predictions about technology developments we …
Thomas Claburn, 06 Dec 2016
Bob and Doug McKenzie of Canada

Canada asks citizens: How would you like us to spy on you?

The Canadian government is asking citizens to weigh in on its plans for digital surveillance programs. A government-hosted page called Investigative Capabilities in a Digital World seeks input from residents on matters such as intercepting communications, forcing data decryption, and requiring service providers in Canada to …
Shaun Nichols, 05 Dec 2016
Phiip Hammond, photo via Shutterstock

What's in Hammond's box? Autumn fallout for Britain's tech SMBs

The Government in its Autumn statement promised to invest £1bn on "digital infrastructure", an extra £2bn annually on UK R&D, and at least £400m on new venture capital funds through the British Business Bank, which it hopes will unlock a further £1bn in private finance for growing firms. The National Productivity Investment …
Marcus Gibson, 05 Dec 2016

R3 four flew: What's driving banks to flee blockchain consortium?

Analysis The value of distributed ledgers and blockchain tech to the financial sector has again come under the spotlight following the departure of several entities from prominent blockchain consortium R3: namely Goldman Sachs, Santander, Morgan Stanley and the National Australian Bank. All four left the consortium this month, and with …

Super Cali goes ballistic, considers taxing Netflix

More than 40 cities in California are considering a tax on streaming services – dubbed a Netflix tax – claiming that the tax system needs updating for the internet era. The news comes as AT&T announces a new streaming service, DirectTV Now, which the company hopes will see people discard their cable boxes altogether for over …
Kieren McCarthy, 28 Nov 2016
Datacenter, photo via Shutterstock

There's gold in them thar hills! Rackspace latest firm to join Frankfurt data centre rush

Rackspace has chosen Germany as home for its first data centre in mainland Europe. The managed cloud provider, which is to become an AWS and Microsoft Azure support partner, will jointly build and open a centre in Frankfurt next year. Rackspace is the latest to set up shop in Frankfurt, Germany's centre for finance and fifth …
Gavin Clarke, 24 Nov 2016
Philip Hammond photo by Inna Sokolovska via Shutterstock

Fibre pushers get UK budget tax reprieve

Businesses rolling out pure fibre in the UK are to be exempt from paying land rates over the next five years, Chancellor Philip Hammond's announced in a reprieve to providers in his Autumn Statement today. Broadband providers previously hit out against a forthcoming hike in business rates that will dramatically increase the …
Kat Hall, 23 Nov 2016

Talend CEO: Profit? We're a few years off... But we're cash-flow positive

Interview Founded in France in 2005, Talend made its initial public offering on the NASDAQ in July, listing as a French company although it's now headquartered in Redwood City, south of San Francisco. It was only the fifth technology IPO of the year, raising questions as to how fruitful the listing might be. But Talend raised $94m, and …
50 of your British pounds. Photo by Shutterstock

UK.gov flings £400m at gold standard, ‘full-fibre' b*&%*%£$%. Yep. Broadband

The government is to release £400m towards full-fibre broadband in its Autumn Statement tomorrow, part of its Digital Infrastructure Investment Fund. The cash is to be matched by private finance, and will amount to a total cash pot of £800m. In a press release the government described it as "gold standard ‘full-fibre’ …
Kat Hall, 22 Nov 2016
Selection of Australian banknotes

Australian government never asked nbn™ to apply for private loans

When nbn™, the entity building and operating Australia's national broadband network (NBN), announced it had secured a loan for AU$19.5bn from Australia's government, it looked like the network-builder had failed to convince lenders it was a decent customer. The reality is a little different: minister for Finance Mathias …
Simon Sharwood, 22 Nov 2016

Symantec doubles down on consumer security by buying LifeLock

Symantec has bought identity theft protection firm LifeLock for $2.3bn. The deal, announced Sunday, represents a brave bid by Symantec to shore up a consumer security business eroded by dwindling anti-virus sales. Selling Norton consumer security alongside identity protection and remediation services from LifeLock will enable …
John Leyden, 21 Nov 2016
An upset woman with an empty wallet

Customer data security is our highest priori- ha ha ha whatever, suckers

Something for the Weekend, Sir? I would like it to be known that mine is bigger than yours. And yours is bigger than everyone else's. Only losers waste their time with small. We do big. The IT industry is notably keen on letting us know that everything they do is big, especially when it comes to data security breaches. Cyber-attacks on individuals are never …
Alistair Dabbs, 18 Nov 2016
NBN CEO Bill Morrow

Australian government lends nbn™ AU$19.5bn to finish the job

nbn™, the entity building and operating Australia's National Broadband Network, has secured a AU$19.5bn loan from Australia's government and will use it to complete project. “nbn™has been advised the government will loan the remaining $19.5 billion required for the total $49 billion base case peak funding forecast,” said CEO …
Simon Sharwood, 18 Nov 2016

Ireland to fight against billing Apple for back-taxes

The Republic of Ireland has signalled its intention to push back against the European Union (EU) over accusations that it's offering a tax haven to Apple. In August, the EU decided Apple had received €13 billion in “illegal state aid” in the form of the tax breaks. When the investigation ended, competition commissioner …

Celeb-backed music TV phallus Electric Jukebox finally ready for launch

Over a year after it was first announced, the UK music startup described as "the most ridiculous digital music launch in history" will finally be available to punters tomorrow. Electric Jukebox bundles music with a £169 remote control and a dongle, so you can play tunes on your TV. After that, it's £52 a year, and the company …
Andrew Orlowski, 08 Nov 2016
Image by Mark Bennetts http://www.shutterstock.com/gallery-2389319p1.html

Add it to the tab: ICO fines another spammer as unpaid bills mount

London-based finance company Nouveau Finance been fined £70,000 (US$85,752, A$112,391) for hiring a spamming marketing company that sent UK residents some 2.2 million illegal SMS messages. 92 battered Britons complained to the Information Commissioner's Office (ICO) which handed down the fine on Monday. The loan broker, based …
Darren Pauli, 08 Nov 2016
China cybersecurity

China passes new Cybersecurity Law – you have seven months to comply if you wanna do biz in Middle Kingdom

On Monday, the Chinese government officially passed its 2016 Cybersecurity Law. From June 2017, all companies doing business in the Middle Kingdom will have to obey the new rules. The legislation, approved by the National People's Congress, takes away the last vestiges of anonymity for China's 710 million internet users, and …
Iain Thomson, 07 Nov 2016
Ransomware, photo via Shutterstock

World-leading heart hospital 'very, very lucky' to dodge ransomware hit

World-leading Papworth Hospital has escaped a full-on zero-day crypto ransomware attack thanks to the "very, very lucky" timing of its daily backup. It's believed that an on-duty nurse at the heart and lung hospital in Cambridgeshire, UK, unwittingly clicked on something in an infected email, activating the attack at about …
SA Mathieson, 04 Nov 2016

Gawker settles with Hogan

The long-running legal fight between the now-defunct Gawker Media and Terry Gene Bollea, aka Hulk Hogan, has been settled at last. The organization has agreed to pay Bollea $31m to settle all claims relating to the publication of a tape of the former professional wrestler having sex with a friend's wife. In May, a court …
Iain Thomson, 02 Nov 2016
UK pound crashes after Brexit

ESMA urges companies to disclose potential Brexit impact

Listed companies should disclose the potential impact of Brexit in their financial statements, the European Securities and Markets Authority (ESMA) has said. In its annual statement on European common enforcement priorities, which identifies enforcement priorities for listed companies’ financial statements, ESMA "urges issuers …
OUT-LAW.COM, 02 Nov 2016
'The cake is a lie'

Quest celebrates first day of independence from Dell with layoffs

Exclusive Quest, the newly liberated Dell software division, rang in its first day as a standalone company by announcing a restructuring that included significant layoffs. The Register has now heard from multiple sources that Quest has pink-slipped employees, with top management staff shown the door and deep cuts made to marketing and …
Shaun Nichols, 01 Nov 2016

Cynical Apple gouges UK with 20 per cent price hike

Apple has taken advantage of a more competitive sterling exchange rate to hike its computer prices – by far more than sterling fell. Cupertino raised some UK prices by as much as £500. Apple had already raised the prices of its iPhone, iPad and Apple Watch products. Sterling has fallen some 15 per cent from its 1H 2016 …
Andrew Orlowski, 28 Oct 2016
Cartoon - Private SNAFU

First World Problems: John Lewis clients forced to re-register after website 'upgrade'

Customers of John Lewis Financial Services in the UK are still being forced to re-register for the service after a "recent website upgrade" accidentally downgraded the service. John Lewis Finance tried to migrate its online platform a fortnight ago, but is still experiencing "teething issues" leaving customers fearing they had …
Robot as person illustration via Shutterstock

Bloody robots! 860k public sector jobs to be automated by 2030, say researchers

Once upon a time a public sector job was a golden ticket: little actual work, less accountability, and a job for life. Not any longer. According to research by Deloitte, building on its previous work with the University of Oxford about job automation, up to 861,000 public sector jobs could be automated by 2030. In just over a …
Man throws briefcase in the air happily on the beach. Photo by Shutterstock

Hewlett Packard Enterprise gives UK boss control of Ireland

After three decades at or near the top of HPE’s Irish ops - latterly the standalone Enterprise organisation - Martin Murphy is to leave the business by the end of February, El Reg can confirm. In a memo to staff, recently installed UK and Ireland managing director Marc Waters, said Murphy had “decided to leave HPE at the end …
Paul Kunert, 21 Oct 2016
Burning money, photo via Shutterstock

Verizon: Data center sale going nicely. Yahoo! bid? Not so much

US telecom giant Verizon says it has formally begun talks with Yahoo! on adjusting the terms of their merger. Speaking to analysts during the company's fiscal Q3 2016 earnings call, CFO Fran Shammo said that Verizon's lawyers had their first meeting with Yahoo! brass yesterday to discuss the breach of a half billion Yahoo! …
Shaun Nichols, 20 Oct 2016
Photo by Christoph Dernbach

Yahoo! hides! from! financial! analysts! amid! email! hacking!, privacy! storm!

Yahoo! had little to say on its looming tie-up with Verizon, as the Purple Palace turned in quarterly numbers that managed to beat analyst expectations. Speaking only briefly on the recent comments from Verizon about adjusting the $4.8bn acquisition deal in the wake of security and privacy problems, Yahoo! CEO Marissa Mayer …
Shaun Nichols, 18 Oct 2016
League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC

British jobs for British people: UK tech rejects PM May’s nativist hiring agenda

Comment “If you believe you’re a citizen of the world, you’re a citizen of nowhere. You don’t understand what the very word ‘citizenship’ means." So British Prime Minister Theresa May told her party’s conference last week. Home secretary Amber Rudd laid out plans at the conference to make it harder for British employers to hire …
Gavin Clarke, 13 Oct 2016
Mist and condensation, image via Shutterstock

Big Mickey Dell is wrong: Cloud ain't going to eat all of IT

Storage architect Public cloud will not consume all of IT. At least that’s what Michael Dell is claiming. In his opinion, cloud will become just another form of computing and a choice will be made by users to do cloud on-premises or rent from a cloud provider. Bearing in mind Dell is in the hardware business, we can hardly expect a comment …
Chris Evans, 12 Oct 2016
Ireland map, photo via Shutterstock

Ireland reaps benefits of Apple's tax schemes, even without EU bounty

Even without the €13bn tax bill which Ireland was told collect from Apple, the nation's arrangements with Cupertino is driving tax revenue and spending increases in its budget for 2017. The Irish government has this week put forward its budget for the next year, including an extra €1.3bn package of spending increases and tax …
Data_image_via_Shutterstock

Understand your data and make good decisions

Promo Data, data everywhere and not an insight in sight. Tableau, the business intelligence and analytics software firm, is on a mission to help you see and understand your data and enable you to make informed, fast decisions. Tableau uses its own software everyday throughout the business and wants to show you how it does this in " …
David Gordon, 11 Oct 2016

It's executive whack-a-mole at Big Data replicator WANdisco

Sacked WANdisco CEO Dave Richards is back in post just seven working days after being ousted; the chairman of the board has now resigned along with another director, and also Erik Miller, the recently-appointed CFO. On September 29 CEO Dave Richards was fired at a breakfast meeting by non-exec chairman Paul Walker at London’s …
Chris Mellor, 07 Oct 2016
Parachutists and cloud image via Shutterstock

Trust the cloud, we’re getting the hang of securing it, says Unisys security chief

IPExpo Everyone’s starting to believe in public cloud but security remains an uphill battle, Unisys’ chief trust officer Tom Patterson told The Register this morning. “There are no four walls any more,” he said, sipping a cappuccino in London’s ExCel conference centre and referring to the traditional security model where threats were …
Gareth Corfield, 06 Oct 2016

How does a hybrid infrastructure fit my accreditations?

Security-related certifications such as ISO 27001 and, more particularly, the Payment Card Industry Data Security Standard (PCI-DSS), have stringent requirements regarding the controls on infrastructure, how data is routed and stored around it, and so on. Particularly in the cloud components of a hybrid setup, the control you …
Dave Cartwright, 06 Oct 2016