Articles about Finance

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
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

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 …

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
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
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

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

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
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
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
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 …

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
Crop of doctor with pen and clipboard

Capita lands spot on mega £5bn NHS commissioning deal

Outsourcing giant Capita is one of three major companies to be awarded a place on the £5bn Lead Provider Framework for Commissioning Support Services. Clinical Commissioning Groups (CCGs) will be required to re-procure many of their support services by April 2016 in order to comply with EU procurement law, which NHS England …
Kat Hall, 09 Feb 2015

BLAME ENGINEERS: Workstation sales soar by 8.9 per cent a year

One of the more prized wins in reseller-land is a sale of workstations, because the heavy lifting such machines perform generate lots of data. That means a chance to talk storage, networks and many other topics, making workstations a fabulous foot in the door. Plenty of folks will therefore be rather happy that market-watcher …
Simon Sharwood, 13 Feb 2015
Sydney harbour bridge poking out of the clouds

Australia mandates* cloud use by government agencies

Australia's Department of Finance has updated its Cloud Policy to say “... agencies now must adopt cloud”. Those italics are the Department's, and it also has some qualifications for the edict, namely that cloud should only be adopted “where it is fit for purpose, provides adequate protection of data and delivers value for money …
Simon Sharwood, 08 Oct 2014
Sharon White, new head of Ofcom, former Second Perm Sec at the Treasury

Ofcom's new broom Sharon White sweeps into office

Communications watchdog Ofcom confirmed this morning that it has found a replacement for outgoing chief Ed Richards. Sharon White will head up the regulator from late March, on an annual salary of £275,000, after she ends her senior role at the Treasury. White currently serves as Second Permanent Secretary of the Finance …
Kelly Fiveash, 16 Dec 2014
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

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

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
management cio1

Avnet TS names vet Zammit as global el presidente

Patrick Zammit, the latest exec to grab global control of Avnet Technology Solutions (ATS), will be close at hand from his Brussels base to mastermind a sustained growth plan in EMEA, something that continues to elude the firm. A former senior auditor at Arthur Anderson - like many beanies now working in the channel - Zammit …
Paul Kunert, 06 Jan 2015
hands waving dollar bills in the air

Hewlett Foundation lays out MEELLIONS on security

The Hewlett Foundation has found US$45m in its other jacket, and has anointed three lucky US universities to spend on security research. MIT, Stanford and UC Berkeley will share the simoleons, in a program MIT says is designed to generate a “robust marketplace of ideas”, whatever that is. On a more pragmatic basis, the …
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

CommBank throws AU$5 MEELLION at UNSW quantum computer lab

Australia's Commonwealth Bank has decided to make a AU$5 million donation to the University of New South Wales' Centre for Quantum Computation and Communication Technology. The money is intended to help two projects, namely an effort to “demonstrate entanglement in a scalable silicon based quantum computing architecture and then …
Simon Sharwood, 01 Dec 2014
management cloud4

Axcient gets $25m injection, promises channel cash splurge

Cloud recovery service startup Axcient has new funding and aims to fully compensate its SaaS-selling channel partners up front. Axcient offers Recovery-as-a-Service (RaaS) from the cloud and has completed a $25m E-round funding exercise, taking total funding to $89.2m. Silver Lake Partners provided significant debt financing in …
Chris Mellor, 18 Feb 2015
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
Euro notes

Euro probe headed for Amazon's tax back door

A 2003 Luxembourgeois tax ruling used by Amazon.com to structure its European affairs looks likely to become the subject of a European Commission probe, according to the Financial Times. The Pink 'Un's paywalled report suggests Luxembourg's decision to limit the amount of Amazonian profits it would tax may have constituted an …
Simon Sharwood, 07 Oct 2014

Definitions matter. For crying out loud, securobods, BE SPECIFIC – ENISA

Definitions matter when your infrastructure is under threat says European Union Agency for Network and Information Security (ENISA). ENISA’s latest report, published on Thursday, concludes that there is an increase in the occurrence of routing threats, DNS threats and DDoS attacks to internet infrastructure. Its advice? Get your …
Jennifer Baker, 15 Jan 2015
Kim Jong-un

Sony blames NORK The Interview cyber strike for delayed Q3 report

Sony plans to delay its third-quarter financial results and has blamed North Korea’s crippling cyber attack on Sony Pictures Entertainment’s business systems. The media giant has asked Japan’s Financial Services Agency to extend its deadline by a month so it can compile the period’s results. Sony needs the extension so its film …
Gavin Clarke, 23 Jan 2015
Australia.gov.au beta

Australia puts itself back into Beta

The Online Services Branch of Australia's Department of Finance, which oversees the nation's online efforts, has put the country in beta with the release of a new design for the national website at australia.gov.au. The new look is said to be the result of “user analysis and … benchmarking with other government agencies both …
Simon Sharwood, 20 Oct 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

HPC Wales stretches its reach to Northern Ireland

Northern Ireland is to get what's touted as its first HPC service, courtesy of a deal between Fujitsu and HPC Wales. Extending a collaboration that's been in place since 2012, HPC Wales says the vendor will sling £1.1 million towards the service, and seek collaborations from Irish business and academic partners. HPC Wales has …
The Register breaking news

Sales, meet Finance

Workshop 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

My best bud is a billionaire: Peter Thiel jumps into bed with dope upstarts

Peter Thiel is betting big on bongs. The Paypal founder and billionaire venture capitalist has chosen to invest millions in private equity firm Privateer Holdings, which is focused on the rapidly expanding legal cannabis market. Thiel's investment firm, Founders Fund, has put the bulk of a US$75m Series B funding round into the …
Kieren McCarthy, 09 Jan 2015
Stock ticker board

Acer: We're still a thing! We're still alive. And we are touting 300M shares

Acer wants to become a "hardware + software + services" biz – and issued 300 million shares on the Taiwanese Stock Exchange to fund this strategy and pay down debts. It’s been a challenging couple of years for Acer: a returning demand for PCs will help relieve the pain, although all the crystal ball strokers from Gartner to IDC …
Paul Kunert, 13 Feb 2015

Security hawker gives the bird to mid-east hack group

A team of attackers tagged by Kaspersky as the first "advanced Arab hackers" has passed around malware targeting Middle East governments, the military and others. So far 100 malware samples attributed to the group have been tagged, the hacker branding consultancy claims. Kaspersky Labs researchers revealed the attacks at the …
Darren Pauli, 18 Feb 2015
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

A billion things are already on the IoT: Verizon

Verizon reckons the Internet of Things is no longer a “nascent” market, reporting that there are already more than a billion devices out there running business-to-business IoT operations. In its “state of the market” report (free with registration) covering the IoT in 2015, the company predicts that the B2B IoT space will pass 5 …

Screwball ruble closes Apple's Russia store, whole kit and caboodle

Apple has temporarily halted online sales in Russia while the country remains in an economic free-fall. The iPhone giant said "extreme" fluctuations in the value of the ruble forced it to shut its shopping website in the Putin-led country. Apple said it will review its pricing before reopening the site for sales. The ruble saw …
Shaun Nichols, 17 Dec 2014

Bubble-licious: Good times here again for UK tech startups – research

The level of venture capitalist (VC) investment being pumped into UK and Irish tech companies is now "reminiscent" of the early 2000s, with funding for the third quarter of 2014 double that of a year ago, according to research. In Q3, £363m was invested in in 88 deals worth more than £500,000, bringing the total for the year so …
Kat Hall, 24 Nov 2014

BOFH: The Great HellDesk geek leave seek

Episode 1 "Well that would be on the form, surely?" the H.R. person burbles smugly over the phone. "It sort of is," the HellDesk user replies, "only it's hard to see because the characters are all blurred." "They'll be blurred because your browser doesn't support downloadable fonts," H.R. replies in a know-it-all tone. "What browser …
Simon Travaglia, 20 Feb 2015
Artist's impression of the Bloodhound SSC thundering along. Pic: Bloodhound SSC

1,000mph ROCKET CAR project dogged by beancounters

The hand-to-mouth existence of the incredible Bloodhound Supersonic car has been revealed in a blog post by project director Richard Noble. Noble slams the UK as a nation of bean counters for the difficulty he’s having in raising finance, stating that we have six times as many accountants as doctors and more than the rest of the …
Simon Rockman, 02 Jan 2015

£100 MILLION poured down drain on failed UK.gov IT projects - in just ONE YEAR

Whitehall mandarins have wasted more than £100m on failed or cancelled IT projects in the last 12 months. That’s according to the Taxpayers’ Alliance, which has collated losses across all departments for 2013 – 2014. The Alliance uncovered £107m lost as projects were scrapped, gains weren’t realized or unnecessary costs were …
Gavin Clarke, 16 Feb 2015
Amazon CEO Jeff Bezos

Amazon's tax deal in Luxembourg BROKE the LAW, says EU

Amazon’s sweetheart tax deal with Luxembourg is illegal, according to the European Commission. The Commission’s preliminary findings indicate that the deal, struck back in 2003, constitutes illegal state aid. Since then, Amazon has been paying taxes worth only 4-6 per cent of its operating expenses - an arrangement that the …
Jennifer Baker, 16 Jan 2015
Cisco CEO John Chambers speaking at Cisco Live! 2014

Cisco ends Q1 an inch ahead of guidance

Cisco has farewelled its chief financial officer after announcing results that showed a still-beating heart somewhere in the giant switch market. Net income for the Borg's first quarter was reported at US$1.8 billion, on revenue of $12.2 billion, about US$40 million ahead of Wall Street's expectations. The company also announced …