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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
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

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
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 …
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 …

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

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
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
india

Indian government flings ONE HUNDRED BILLION rupees at startups

India's new and tech-savvy government has created a one hundred billion rupee startup fund. Even once converted into US dollars that's still $1.6 billion. And India doesn't see that as the end of the matter: as the budget speech (PDF) by finance minister Arun Jaitley makes plain, the new fund is intended to “act as a catalyst to …
Simon Sharwood, 11 Jul 2014

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
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
Wii U

Nintend-OH NO! Sorry, Mario – your profits are in another castle

Nintendo is reeling after it posted a $96m loss on the quarter to June 30. The Mario maker said that the quarter, its first of the fiscal year, brought total sales of 74.69bn Yen ($726m), down 8.4 per cent over last year's quarter, and a net income loss of 9.92bn Yen ($96m) compared to a 8.62bn profit last year. That eyebrow- …
Shaun Nichols, 30 Jul 2014

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
Windows XP boot screen

Hackers ZERO IN on ZOMBIE XP boxes: Get patching, Internet Explorer 8 users

A newly uncovered attack specifically targeting out-of-support Windows XP machines running Internet Explorer 8 is being used to hack potential victims in multiple industries across Europe and North America, according to security researchers. This is the first “in the wild” attack spotted against Windows XP after Microsoft pulled …
John Leyden, 02 May 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
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

Former Tech Data UK beancounters may face rubber-glove treatment

The Financial Reporting Council will probe the processes used by staff linked to Tech Data UK's monumental three-year financial blunder. Blighty's largest technology distributor, previously known as Computer 2000, unearthed accountancy errors for fiscal 2011, 2012 and 2013 last spring. A subsequent internal investigation forced …
Paul Kunert, 12 May 2014

Target tosses US$148m onto data breach barbecue

Target's infamous 2013 data breach, which resulted in the company being relieved of 40 million credit card numbers, has cost the company another US$148m according to its latest quarterly finance report. The retailer dedicates a whole section of its quarterly statement to the breach, and says that “In second quarter 2014, the …
Simon Sharwood, 06 Aug 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
chalk outline of  human body at crime scene

Hi-tech Fagin couple used Apple scam cash to fly pickpockets to UK

A pair of phishing fraudsters each received long jail terms after they were convicted of making £15,000 through online scams before using the funds to finance the travel of other crooks into the UK. Constanta Agrigoroaie, 23, and Radu Savoae, 28, both of Mornington Avenue, Ilford, both pleaded guilty to conspiracy to commit …
John Leyden, 18 Jul 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

iPad? More like iFAD: We reveal why Apple fell into IBM's arms

Apple has been talking up its strong Mac and iOS device sales in its latest quarter – but the real news was a stonking slump in iPad numbers. The Cupertino giant said the three-month period ending June 28 was its best-ever fiscal third quarter on record. It reported revenues of $37.4bn, up six per cent year on year, which led to …
Shaun Nichols, 22 Jul 2014

Official: MoJ IT workers on STRIKE over outsourcing job fears

Back office admin staff working at the MoJ's two Shared Service centres are to down tools next week over fears of job cuts. This follows the department's decision to outsource the work to a business owned by French integrator Steria. Staff at the centres in Newport and Bootle run payroll, personnel and finance for the 90k people …
Paul Kunert, 25 Jun 2014

Yahoo! Made! $8bn! In! One! Day! And! You'll! Easily! Guess! How!

Sprawling web souk Alibaba didn't see its stock-market debut go as planned on Friday. It went much better. The Chinese giant closed its first day on the US stock market with a share price of $93, up 38 per cent from its opening price of $68 per share. The offering netted the biz $21.8bn in investment, and marked the largest IPO …
Shaun Nichols, 19 Sep 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

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
SOURCE: http://www.sxc.hu/photo/959469

Wall Street woes: Oh noes, tech titans aren't using bankers

There was much astonishment over at the New York Times as it explained that the big Silicon Valley tech firms, the Googles, Apples, Facebooks, aren't using the traditional services of the Wall Street bankers as they make their acquisitions. There are a number of reasons for this. As to whether this is all a good idea or not, …
Tim Worstall, 20 Aug 2014
Apple iPhone 6

iPhone 6, Watch: Hate it or really hate it, Apple's now a $604.77bn biz

As Apple unveiled its iPhone 6 and "the Watch" on Tuesday, its stock price went on a rollercoaster ride to $102.92 a share, then plummeted to $96.71, and now – after just one day of trading – it has settled on $101. That means, on Wednesday, Apple closed trading up $3.01 on the start of the day, a gain of 3.07 per cent. It was …
Shaun Nichols, 11 Sep 2014
heart.australia

Australia.gov.au Alpha design revealed to grateful nation

Australia's Department of Finance, within which resides the Australian Government Chief Technology Office (AGCTO), has revealed designs for the nation's new home page. The beta is available here, and if you click on the image below you'll get a look at a lovely big screen capture. Beta of the new australia.gov.au The new …
Simon Sharwood, 13 Jun 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
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
Angry woman on mobile

Quit drooling, fanbois - haven't you SEEN what the iPhone 6 costs?

Given that I'm writing this before the great unveil and you'll be reading it afterwards, there's much that could go wrong with my prognostications. Tim Cook could stand up this afternoon and announce the iBurger and claim that the days of Maccy D's are over. True, that's unlikely, but in an infinite universe everything will …
Tim Worstall, 10 Sep 2014
Zombie Zero

Infected Chinese inventory scanners ships off logistics intel

A Chinese manufacturer has been accused of implanting malware that steals supply chain intelligence in its hand-held scanner firmware. Security firm TrapX says infected scanners have been sold to eight unnamed firms including a large robotics company. Variants of the malware broke into enterprise resource planning platforms to …
Darren Pauli, 11 Jul 2014
Dogecoin

Bitcoin was illegal in California? Whoops, governor fixes that 165-year-old money law

California Governor Jerry Brown has signed off on a law legitimizing Bitcoin and other cryptocurrencies for use in the state. The governor rubber-stamped AB 129, enacting what legislators say is a much-needed overhaul of the state codes on currencies. Under the new law, digital currencies and community currencies are protected …
Shaun Nichols, 01 Jul 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

Bechtolsheim's baby Arista Networks soars in stock market debut

Arista Networks has gained in its stock market debut, likely causing some employees at networking giant Cisco's competitive intelligence team to put together some slides on what the implications of a wealthy, publicly-listed competitor are for networking incumbents. Arista's stock increased 33 per cent on its debut day to $57 …
Jack Clark, 06 Jun 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
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
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
IBM Watson QA Power7 cluster

Run little spreadsheet, run! IBM's Watson is coming to gobble you up

IBM's Jeopardy! star supercomputer Watson has turned its attention from trivial pursuits to even more mundane pursuits – namely, crunching sales figures for companies. Big Blue on Tuesday announced Watson Analytics, its latest attempt to pimp its "cognitive computing" tech as a cloud service, this time aimed at business …
Neil McAllister, 16 Sep 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
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

For-sale sign erected outside UK reseller titan Kelway's HQ

Venture capitalists and prospective trade buyers will get the chance to take a look under the hood of London-based mega reseller Kelway this week – when investment bankers metaphorically drive the biz onto the forecourt. US finance house William Blair is in charge of selling off Kelway. Our sources close to the company expect a …
Paul Kunert, 14 May 2014
Bridemaids movie

And! For! Yahoo!'s next! trick! ... Making! two! new! TV! comedies!

Yahoo! has announced its own line-up of original TV series – starting with two comedy shows from acclaimed directors. The Purple Palace will air the comedies on its website and app, and possibly through Apple TV or Roku next year. Each series is getting eight 30-minute episodes, which Yahoo! will post all at once for easy binge- …
BBC logo 2012

£100m DMI omnifail: BBC managers' emails trawled by employment tribunal

The BBC last week stood by its dismissal of former technology chief John Linwood over the failed £100m digital media initiative. The Corporation was judged to have broken the law in dismissing Linwood and reading the tribunal’s findings makes the BBC's defence difficult to accept. According to the BBC, the tribunal “ …
Gavin Clarke, 12 Aug 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