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Articles about Financial Sector

Night scene of bank station in central london

Bank of England seeks 'HACKERS' to defend vaults against e-thieves

The Bank of England is planning to hire ethical hackers to conduct penetration tests on 20 "major" banks and other financial institutions, it has been reported. The move appears to be a response to lessons learned during the Waking Shark II security response exercise last November. The exercise put merchant banks and other …
John Leyden, 24 Apr 2014
Double Facepalm; when one facepalm is not enough.

Stop begging, startup-land, and start YELLING at Catch of the Day

Thank you, Catch of the Day: in taking three years – three years – to own up to a data breach (and by the way doing it late on a Friday afternoon), Australians have had a first-rate demonstration of why we need data breach disclosure laws. It would be welcome news that the egregious Asshat-of-the-Day episode has finally …
Night scene of bank station in central london

Blighty's top moneymen: Hackers are SLURPING CASH direct from banks

Several UK banks have suffered actual financial losses as a result of cyber-attacks in the last six months, according to a Bank of England study. The Bank of England’s latest Financial Stability Report, published on Thursday, reiterates warnings about the risk posed by hacking attacks made six months ago when Andrew Haldane, the …
John Leyden, 29 Nov 2013
Night scene of bank station in central london

We want it HARDER: City bankers survive simulated cyber-war

A Bank of England-sponsored exercise designed to test how well financial firms handle a major cyber attack has uncovered serious communication problems. Waking Shark II, which took place in November, was meant to test how investment banks and financial institutions held under a sustained assault by hackers. The overall results …
John Leyden, 06 Feb 2014
The Register breaking news

Eurogeddon? Pah. UK banks are more terrified of hackers - big banker

Hacking attacks present a bigger risk to the operation of UK banks than problems caused by the ongoing eurozone crisis, according to a senior Bank of England director. Andrew Haldane, the BoE's director of financial stability, told parliament's Treasury Select Committee that representatives of Britain's top banks are telling him …
John Leyden, 13 Jun 2013

EU digital tsar 'Steelie' Neelie Kroes: Telcos must adapt to losing roaming cash

Europe's digital tsar Neelie Kroes has been defending her call for greater integration of telcos across Europe, and appears to be arguing that what she described as "artificial" lowered roaming revenues should not hinder the telcos' greater investment in European infrastructure. Neelie's plan is to get rid roaming charges across …
Bill Ray, 09 Oct 2013
The Register breaking news

Good news! UK IT jobs up. Bad news? They're with a bunch of bankers

Cockle-warming stats from the UK jobs market show that job openings for techies went up at the end of 2012 and that opportunities in the well-paying financial IT sector rose for the first time in six months. Permanent IT jobs advertised in the UK went up 6 per cent in the last three months of 2012 compared to the year before, …
Anna Leach, 08 Feb 2013

Why a Robin Hood tax on filthy rich City types is the very LAST thing needed

The lovely thing about this year's Nobel Prize in Economics is that it entirely borks the case for a Robin Hood Tax - a levy on the financial sector's transactions, in other words. Not that the judging panel's decision will stop efforts to implement the tax; everyone's moved beyond intellectual arguments to instead howl in the …
Tim Worstall, 15 Oct 2013
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Understanding the make-up of information management

On January 25th, Regcast presenter Jon Collins was joined by Freeform Dynamics’ Martha Bennett, Jason Frost from Blueprint, and Will Thompson from Microsoft for our very first live event of 2012. The thing that brought our panel together was the necessary evil that is - information management in business. Our latest Reg research …
Miatta Momoh, 03 Feb 2012
The Register breaking news

Intuit ups SMB cloud credentials with Demandforce buy

With the US tax season largely out of the way Intuit, makers of Quicken and TurboTax financial software, has paid $425m for SaaS marketing operation Demandforce to make a bigger play for the lucrative SMB cloud sector. Demandforce has around 35,000 customers in the US and Canada and offers a package of marketing and …
Iain Thomson, 27 Apr 2012

App-happy cloud bod? You'd better keep eyes on your networks

Measuring how well your application is performing is not a straightforward task. Many enterprises have multiple locations, work with cloud-based applications and have end users stationed in different parts of the world. With the future of IT infrastructure trending toward more interconnectivity and external dependencies, it …
The Register breaking news

Budget-slash fest shaves 10% off IT mercenaries' day rates

Cost-cutting at banks and a squeeze in the public sector have pushed IT contractor day rates in the UK down by £38 since 2010. Freelancing tech bods are therefore taking home £9,000 a year less than two years ago. But the recent RBS/Natwest banking crash offers a silver lining for developers: those skilled in the ancient ways of …
Anna Leach, 19 Sep 2012

Financial sector opts for J2EE

J2EE is emerging as the dominant environment for web-enabled application development. Just less than half of the European retail financial services institutions surveyed by Datamonitor are using J2EE as their primary environment for web-enabled application development. Interestingly, even though IBM and BEA are neck-to-neck in …
Datamonitor, 04 Jun 2003
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'Nervous' London bankers run mock cyberattack exercise

London banks are taking part in a simulated cyberattack exercise on Tuesday designed to test the resilience of the UK's financial service industry to a collapse of telecoms systems and Olympics-related transport disruption. The exercise is occurring against the real world backdrop of the Occupy the City protestors, camped …
John Leyden, 22 Nov 2011
The Register breaking news

Security bugs crawl all over financial giant’s website

For the past five months, a website for investment services giant Ameriprise Financial contained bugs that allowed even low-level criminals to inject malicious content into official company webpages and steal user's cookies, according to a web security expert. The XSS, or cross-site scripting, flaws made it possible for phishers …
Dan Goodin, 20 Aug 2009

How to shop wisely for the IT department of the future

If your IT department is inefficient it is entirely possible that the responsibility does not properly belong with the nerds who run it. It is human nature to cast about for blame, but chances are the problem of IT cost overruns and project delays lies with the business. An inability to reach the promised "agile" nirvana so …
Trevor Pott, 11 Mar 2014
The Register breaking news

Westpac drops tech roles

Westpac continues to slash jobs as part of its offshoring initiatives, revealing that it will cull a further 119 technology roles, most of which will be awarded to India’s Infosys. The job cuts follow on from the recent dismantling of 188 positions in November and 560 in February. The bank is in hot water with unions and …
The Register breaking news

ONS: Growth forecast for Blighty worse than expected

A week after the Chancellor of the Exchequer delivered his Budget statement to Parliament, the Office for National Statistics has confirmed that the British economy shrank more than expected in the last quarter of 2011. The ONS published official data today that showed that the limping services sector dragged the economy down …
Kelly Fiveash, 28 Mar 2012
The Register breaking news

IT pros not lacking for employment, but may need to move

The government is cutting back on IT recruitment and so are communications companies, but job prospects across the IT industry as a whole rose on the back of a recruitment boom in software houses, says a report from CWJobs. Adverts for permanent IT jobs in the public sector are down 40 per cent since last year as part of the …
Anna Leach, 02 Nov 2011
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BT shares droop as sales go limp at hard-up Europe

BT revenues fell some 6 per cent in the national telco's first quarter as the company coughed to "tough conditions" in the financial sector as well as in Europe hampering its global services division. It's wholesale wing also suffered an 8 per cent drop in sales falling below the £1bn mark to £923m, while Openreach revenues were …
Kelly Fiveash, 25 Jul 2012

Networking industry to collaborate on TERABIT Ethernet

Sensing mounting frustration that movies Linux ISOs aren't downloading fast enough, the IEEE has announced a new group that aims to bring wired Ethernet speeds up to 1Tbps by 2015 and as fast as 10Tbps by 2020. The announcement comes shortly after the publication of the IEEE 802.3 Ethernet Bandwidth Assessment report, which …
Neil McAllister, 20 Aug 2012
The Register breaking news

Tweeting bankers warned: U better not mislead customers...LOL

Banks must remember regulatory compliance issues when interacting with customers via Twitter, says an expert. Banks face regulatory risks when responding to customers through social media channels, a legal expert has said. A new study by Virgin Media Business has revealed that 63 per cent of banks now respond to customer …
OUT-LAW.COM, 12 Dec 2012
The Register breaking news

'LONDON IS THE CENTRE OF THE technology WORLD'

Demand for IT jobs in London grew by 18 per cent in the last quarter compared with the same period in 2010. Meanwhile, code monkey jobs dominated the recruitment market, according to employment outfit CWJobs. It said London positions now make up 33 per cent of all UK-based IT jobs advertised on its site. More than 37,000 job …
Team Register, 29 Jul 2011
The Register breaking news

World heading for massive jobs slump

The early signs of another jobs slump are already apparent, according to the International Labour Organisation (ILO). The body now estimates that employment in advanced economies won't return to levels seen before the global financial crisis until 2016. “We have reached the moment of truth. We have a brief window of opportunity …
graph up

Listing disto Dicker Data leaps 5% on day one

In practically the only tech float currently slated for 2011 on the Australian Stock Exchange (ASX), Dicker Data is trading at 21 cents per share, after listing at 20 cents. The float of the hardware distributor illustrates, among other things, the way the mining boom is distorting Australia’s economy. Of the 31 upcoming floats …
The Register breaking news

Cyberwar report: Israel, Finland best prepared for conflict

Israel, Finland and Sweden are more prepared than larger nations to fight a conflict in cyberspace, according to a McAfee-backed cyber-defence study. The cyber-security report (click to enlarge) The study, Cyber-security: The Vexed Question of Global Rules, is based on interviews with experts in the nascent field by by …
John Leyden, 31 Jan 2012
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Brocade: California taxman took off with our profits

Storage networking and Ethernet supplier Brocade has grown its latest quarter's revenues but swung from profit to loss after changes to the state of California's tax code. It reckons it will soon be doing even better now on the back of its 16GBit/s Fibre Channel kit and added that software-defined networking has opened up a …
Chris Mellor, 15 Feb 2013
The Register breaking news

Juniper boosts Oz presence, waits for cash to rain from cloud

Juniper Networks is boosting its presence in Australia as it readies for an anticipated boom in cloud and enterprise grade services. The vendor has expanded its office in Melbourne, adding 50 local staff . Juniper Networks ANZ vice president Mark Iles expects the National Broadband Network (NBN) to stimulate cloud computing in …

Would you spend $300m to save 6ms?

How much is getting trades done 6 milliseconds quicker worth? About $300m, as it turns out. A new transatlantic fibre cable promises to reduce the languid 65-milliseconds it take to transmit a trade between London and New York time to a quicker 59ms. Traders are expected to line up to use the new service and pay extra for the …
The Register breaking news

Gresham acquires Online Financial Services

Gresham Computing has snapped up Canadian IT banking specialist Online Financial Services for Can$1.5 million boosting its banking and financial customer base, while adding to its growing list of global subsidiaries. The acquisition was greeted favourably by the City where Gresham's share price jumped 4p this morning. The deal …
The Register breaking news

EU study frowns over data breach notification rules

A new EU study has identified risk prioritisation, enforcement and resources as key issues in applying data breach notification rules. ENISA, the EU’s cyber-security agency, launched its investigation on data breach notification rules against a backdrop of steadily rising incident of personal information disclosure breaches. …
John Leyden, 14 Jan 2011
Screenshot showing overriding check-in policy in Team System.

What Compsci textbooks don't tell you: Real world code sucks

There’s a kind of cognitive dissonance in most people who’ve moved from the academic study of computer science to a job as a real-world software developer. The conflict lies in the fact that, whereas nearly every sample program in every textbook is a perfect and well-thought-out specimen, virtually no software out in the wild is …
Dave Mandl, 21 Dec 2012
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IT jobs market recovering well

The first three months of 2010 saw a four per cent increase in technology jobs advertised compared to the last quarter of 2009. Despite the banking crisis the financial sector is still posting more ads for permanent posts than any other, according to jobs sites CWjobs and JobAdsWatch.co.uk. In second place is Media, then Retail …
John Oates, 09 Jun 2010
The Register breaking news

ICO says it doesn't need to use its 'big stick'

Despite increased powers to levy fines for breaches of UK data protection rules, the Information Commissioner's Office (ICO) is only using these powers in a tiny fraction of cases. A Freedom of Information request from encryption specialist ViaSat, made public on Wednesday, revealed that 2,565 data breaches had been reported to …
John Leyden, 20 Apr 2011
The Register breaking news

Data breaches blamed on organised crime

Cybercrooks continue to be a menace to corporate security, with hackers and malware authors collectibly responsible for 85 per cent of all stolen data. The latest edition of Verizon's annual data breach report also records a rise in insider threats and greater use of social engineering. Verizon worked with the US Secret Service …
John Leyden, 29 Jul 2010
channel

UK biz buoys Computacenter

Computacenter's unaudited results for the first six months of the year show a decent performance all round - with even troublesome Germany showing signs of improvement. Sales for the six months ended 30 June 2010 are up 5.4 per cent to £1.29bn. Profit before tax was up 75.1 per cent to £21m (less exceptional items) and the …
John Oates, 27 Aug 2010
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IT contractors aghast as FSA evicts self-cert mortgages

IT contractors could be forced to live in HP's excess packaging if the government adopts Financial Services Authority proposals to scrap self-certification mortgages. Over a year after the property boom popped and the UK's financial sector had to be bailed out by the government, the financial regulator has proposed a raft of …
Joe Fay, 19 Oct 2009

Microsoft to biz: Just so you get off XP, we don't mind if you go Win 7

Despite the shiny, consumer-friendly crayon box of Surface and the Glee-style TV ads, Microsoft wants us to know that Windows 8 has a serious side, and is perfect for the enterprise. But it seems that a lot of its business-class features might be inaccessible to the very people it is attempting to target. At an event in London …
Gavin Clarke, 09 Nov 2012
The Register breaking news

MP welcomes Southwest One-IBM review

A panel of councillors at Somerset CC is conducting a review of the council's joint venture with IBM. The review, which is being conducted by the controlling Conservative group and the opposition Liberal Democrats, will take several months to report. It has been welcomed by Somerset Conservative MP Ian Liddell-Grainger, who has …
Kable, 23 Mar 2010
The Register breaking news

Thousands more City workers to lose jobs, says CBI

The Confederation of British Industry (CBI) warned today that thousands of City jobs in the UK are set to be lost over the next three months. Tumbling profitability, a slowdown in business negotiations in Blighty’s struggling financial services sector and a major dip in confidence about the current turbulent market conditions …
Kelly Fiveash, 29 Sep 2008
Reading tape LEO II computer, photo: Science Museum / SSPL

Blighty's revolutionary Cold War teashop computer - and Nigella Lawson

The Victorian offices were bulldozed long ago for a stack of flats and mirrored offices, and there's not a single indication to the significance of this site - or what happened here. This isn't the scene of a lost battle, and the bones of a missing Plantagenet king do not slumber beneath the car park serving the offices. Sixty- …
Gavin Clarke, 27 Mar 2013
The Register breaking news

European parliament loves the Tobin tax

Sometimes it seems the Gods themselves are trying to screw us over. At other times it is our own politicians who attempt to to fubar the world all on their lonesome. This seems to be the case with the European Parliament's recent decision to try and impose the Tobin Tax upon us all. The logic behind the decision seems impeccable …
Tim Worstall, 15 Mar 2011
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Oracle assures financiers they're not that important after all

Oracle comforted distraught investment bankers yesterday by delivering better-than-expected first quarter profits and pointing out it really doesn’t do that much business in the financial services sector. The database giant turned in revenues up 18 per cent to $5.3bn for the quarter ending August 31, producing a net profit of $1 …
Joe Fay, 19 Sep 2008
IBM

IBM throws arms around ILOG

IBM is buying French software maker ILOG for €215m ($340m). The tech giant said today the deal is part of IBM’s strategy to beef up business process management and service-oriented architecture technologies. The offer price represents a premium of about 56 per cent compared with ILOG’s one month average closing share price …
Kelly Fiveash, 28 Jul 2008
cloud

SAP lays down $5.8bn for Sybase

German giant SAP has bought Sybase for $5.8bn - a big premium for the database and mobile firm. The deal gives Sybase shareholders $65 per share - 44 per cent more than the shares have been worth, on average, over the last three months. SAP is using its own cash and a $2.75bn loan from Deutsche Bank and Barclays Capital to pay …
John Oates, 13 May 2010
The Register breaking news

Escrow vital for banks choosing cloud computing, says provider

Financial services firms are using cloud computing with increasing frequency, but often forget to protect the software they invest in, a software security firm has said. It said its escrow services were as vital for remote as for traditional computing. Software as a Service (SaaS), a form of cloud computing, is increasingly …
OUT-LAW.COM, 16 Jun 2009
fingers pointing at man

Juniper needles way to recovery

Juniper Networks saw a slight drop in fourth-quarter profit, but the network kit maker unexpectedly topped its own estimates for revenue thanks to renewed spending from corporate customers and US phone carriers. The world's second-largest network kit maker is also optimistic for a rebound from 2009, which saw profits for most …
Austin Modine, 28 Jan 2010
The Register breaking news

Those demanding mobile users

For years, when we asked Reg readers what worried them about mobile, "security" was top of the list. Now business mobility has become a victim of its own success in many organisations, at least when looked at from IT's point of view. The problems of managing user expectations, integrating kit or compliance are familiar if you …
Dale Vile, 09 Jul 2010
The Register breaking news

Queen's speech targets bankers, unemployed, and immigrants

The government put overhauling the financial sector and underpinning the British economy at the top of the agenda in the Queen's speech today. As expected, legislation to support the development of the government's massive comms database was iced - not that this will affect the state's development of the technology. The Queen …
Joe Fay, 03 Dec 2008
The Register breaking news

Jobs market bleak for grads as banking weakens

Graduates being spat out by the UK's sprawling Higher Education sector this year will face the first fall in the number of grad job vacancies since 2003. There has been a 5.4 per cent fall in jobs for graduates since last year. Graduates who do find jobs will find starting salaries have not increased from last year's average of …
John Oates, 11 Feb 2009