Articles about Financial Sector

The Register breaking news

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

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
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
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
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

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 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
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
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

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
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

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 …
Tim Worstall, 15 Mar 2011

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

Those demanding mobile users

Workshop 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

Lib Dems demand niceness, ignore technology

The Lib Dems unveiled a manifesto (pdf) this morning that was chock-full of bright ideas and sensible fair thinking, but lacking a unifying theme. The party appears to be pitching for the sort of person who's unhappy about fat cat salaries, rude people in hospitals and is likely to switch vote based on whether night buses stop …
Jane Fae , 14 Apr 2010
The Register breaking news

Queen promises to make poverty and budget deficits illegal

The Queen today delivered her annual speech to the combined Houses of Parliament, setting out her government’s plans for legislation over the next six months. As expected, this was the shortest speech of the current parliament, running to just 13 minutes and contained promises to: - Enhance the governance of the financial …
Jane Fae , 18 Nov 2009
The Register breaking news

Cops wanted compulsory DNA cards

Civil servants considered including DNA or iris biometrics as well as digital photographs in the ID card scheme and the police wanted carrying the cards to be compulsory, just released documents reveal. The Office of Government Commerce has finally bowed to legal pressure from trade mag Computer Weekly and released the two …
John Oates, 20 Mar 2009
The Register breaking news

Pre-election budget targets politics, not policy

Budget In a budget lacking the traditional pre-election giveaway, the chancellor dedicated much of his speech to congratulating himself on measures taken in the last two years to mitigate the impact of recession and bail out the financial sector. The most significant tax change is to stamp duty, which will rise to five per cent for …

Sun stashes more cash in Q2

Lost in all the hullabaloo over the $1bn MySQL buy were Sun Microsystems' preliminary second quarter results. For the quarter ended Dec. 30, Sun posted revenue of $3.6bn - a 1 per cent increase over the $3.57bn reported in the same period last year. Working off preliminary figures, Sun thinks it will report net income between $ …
Ashlee Vance, 16 Jan 2008
Broken CD with wrench

Intel: We'll spend our way out of the downturn - again

Cebit 09 Intel kicked off the Cebit show today by wheeling out Craig Barrett to declare it will once again invest its way out of recession. The vendor flashed its Nehalem Xeon processor, confirmed it was speeding up its shift to 32nm and declared embedded processors the next big thing. Intel chairman Barrett opened the vendor's briefing …
Joe Fay, 03 Mar 2009
Netapp logo

NetApp blames tightwad bankers for lower forecast

Network Appliance had a strong fiscal third quarter, but warns that current quarter revenue could suffer because banks are cutting orders. CEO Dan Warmenhoven told analysts in a conference call yesterday that spending from financial institutions — some of NetApp's largest customers — have dropped due to a shaky economic climate …
Austin Modine, 14 Feb 2008
The Register breaking news

Psion founder: Britain needs R&D

Britain can't depend on the City of London alone for its future prosperity, veteran entrepreneur Sir David Potter warned this week. "To our credit we have a successful financial sector," he told The Register. "But then you have to ask how long that is durable. And you look at the very large current accounts deficit, and ask …
Andrew Orlowski, 15 Jun 2007
Reading tape LEO II computer, photo: Science Museum / SSPL

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

Geek's Guide to Britain 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. …
Gavin Clarke, 27 Mar 2013
The Register breaking news

Unisys, SGI - canaries in the coal mines

While tier one server makers IBM and Sun Microsystems have reported their financial results in recent weeks, and Hewlett-Packard is getting set to do so in two weeks, there are other players in the server space. In some ways, they're canaries in the server coal mines. Niche and boutique vendors sometimes feel the pinch first, …
The Register breaking news

VMware SpringSources for open source Rabbit

VMware's open-source Java framework specialist SpringSource has acquired Rabbit Technologies, a UK-based outfit that offers an open source messaging platform for systems floating across so-called infrastructure clouds. "We believe that messaging is a key technology in cloud computing," SpringSource general manager Rod Johnson …
Cade Metz, 13 Apr 2010

Infosys backs out of Axon bid

Outsourcing specialist Infosys has cut forecasts by a third and has ended its battle with HCL to buy UK-based Axon. Dependence on providing services to the US financial sector led Infosys to reduce estimates for next quarter. The firm still expects growth of between 8.4 per cent and 12.6 per cent for the quarter ending December …
John Oates, 13 Oct 2008

Sun calms investors with early Q4 dish

Sun Microsystems has issued an early take on its fourth quarter financial results, showing sales figures that have declined from the same period last year. The company, which is due to report finalized Q4 figures on Aug. 1, expects revenue to come in between $3.73bn and $3.8bn. During last year's fourth quarter, Sun pulled in $3 …
Ashlee Vance, 15 Jul 2008

HP sells cloud vision amidst economic downpour

Hewlett-Packard has claimed the current financial storm blowing out of the financial sector and into the wider economy doesn't make it a really bad time to launch its cloud computing strategy into Europe. The Palo Alto, California-based firm, traditionally known for its heavy weight hardware and imaging businesses is punting …
Kelly Fiveash, 08 Apr 2008

F5 Q4 revenues up, income down

F5 sold more gear in fiscal 2008 but earned less profit than last year. The enterprise networking and storage firm was held back by a late inability to ship product. Despite this it has pulled its Acopia file virtualisation business out of the mire caused by a collapse in sales to the financial sector. F5 sells application …
Chris Mellor, 11 Nov 2008
Capgemini logo

Capgemini CEO claims 'truly tremendous' October

Capgemini's chief executive said Friday that the IT outsourcing firm had a "truly tremendous" October in the face of current economic uncertainty in the US. But he failed to mention the significant job slashes made at HM Revenue and Customs (HMRC), where up to 600 UK workers are expected to take compulsory redundancy. Last …
Kelly Fiveash, 19 Nov 2007
The Register breaking news

Gartner: Global IT spending will rise in 2009 (slightly)

While IT spending is projected decline in some industries in 2009, the prognosticators at Gartner are thus far saying that despite the economic meltdown, IT spending across all industries and geographies will rise a tiny bit. Some industries and geographies are going to do better than others, of course. And there are some areas …
The Register breaking news

Bloodhound supercar is 'recession beater', says promoter

Government plans to turn the UK's foundering financial-services-based economy into a high tech, engineering powerhouse were showcased today in London. The "Pioneers 09" expo was opened by Richard Noble, the man in charge of the new Bloodhound supersonic car project. However, there was also news of an even more inspiring …
Lewis Page, 04 Mar 2009
arrow pointing up

Batten down hatches, analyst tells IT bosses

Gartner has said business leaders should create two IT budgets for the coming year, as it warned of ongoing economic doom and gloom. The tech analyst firm reckoned that, given the fall out from the recent credit crunch that has continued to shake the financial world, it was important for firms to have a back-up plan in place …
Kelly Fiveash, 06 Nov 2007
The Register breaking news

Card fraud-fearing Brit tourists carry cash

Four in five of Brits are worried about possible fraud if they use their cards overseas with many (60 per cent) choosing to carry cash instead. Card cloning tops the list of fraud worries (46 per cent) followed by card not present fraud (42 per cent) among a sample of 1,700 Brits quizzed on behalf of marketing and travel …
John Leyden, 22 Aug 2008
The Register breaking news funds web video product placement venture

At a time when the wisdom of of pinning the UK's economic fate to the fortunes of the global financial sector is being questioned, it's good to know there are people in government concerned with how to encourage innovation - via the monetisation of thousands of hours of poor quality web video. The government has given a £1.5m …
The Register breaking news

UK's Reaper wardroid imports slashed in budget pinch

Treasury financial difficulties would seem likely to severely restrict the size of Britain's fleet of "Reaper" aerial wardroid-assassins in the near future, according to reports. US clearance was obtained last year for export sales of a further ten Reaper/Predator-B robot spyplane-bombers to the UK, in addition to the three …
Lewis Page, 17 Mar 2008
The Register breaking news gets tough on IT suppliers

Businesses are getting better at buying technology, driving harder deals with suppliers and investing more cleverly, according to a study of the UK's financial services sector. Offshoring is also becoming more important, as managers look for ways to improve their margins and cut costs. The study, conducted by the University of …
Lucy Sherriff, 07 May 2004

ClearSpeed's silicon freshness results in 41 Teraflop rack

Cheaper and faster - check. ClearSpeed has hit the two major keys to winning in the silicon game with the release of its latest floating point accelerators. The fresh CSX700 family of products offer more than double the raw performance of the previous CSX600 gear. At 192 cores, you get twice as many engines for handling floating …
Ashlee Vance, 18 Jun 2008
The Register breaking news

Self Service BI: Would you, should you?

Expert Clinic We asked last week for your expert views on the state of self-service business intelligence. Let us set the scene: Analysts at Gartner (and Forrester, and elsewhere) have predicted that 2011 will be the year of self service business intelligence, as users demand tools to help them access and understand company data. The users’ …
Lucy Sherriff, 17 Oct 2011
The Register breaking news

101 uses for a former merchant banker

Comment So how are we going to get out of this recession thing, then? If we just cut interest rates to zero and crank up the printing presses, will everything return to being fine and dandy? Well, possibly, although I have to say that I personally severely doubt it. Such alarmingly simplistic Keynesian policies might help us along the …
Tim Worstall, 29 Dec 2008

Computacenter shrugs off economic fears

Computacenter today shrugged off any suggestion that it could be hit by the credit crunch crisis, even as evidence mounted that the contagion is spreading from the financial sector to the High Street. The City this morning appeared to disagree with Computacenter's stance, with its shares falling by nearly three per cent …
Kelly Fiveash, 09 Jan 2008

Hardware slowdown sours IBM numbers

IBM's customers are putting off big hardware buys until the firm refreshes its processor line, the company's latest financials show. Figures out yesterday showed overall revenues at the giant were $24.1bn for its third quarter ending 30 September, up 6.6 per cent on the year. Net income was up 6.3 per cent to $2.4bn. The …
Joe Fay, 17 Oct 2007
The Register breaking news

UK ecommerce revenues leap like a dachshund

E-commerce in the UK accounts for just two per cent of total sales, according to official figures from the Office for National Statistics (ONS). UK businesses totted up sales of £56.6 billion over the Net with firms in London and the South East amassing some £12 billion in online revenue. Furthermore, almost 80 per cent of the …
Tim Richardson, 10 Sep 2001
The Register breaking news

Olympic ticket scams already starting, says top e-cop

Organised criminal gangs are snapping up domain names, ready to launch rip-off ticket sites for the 2012 Olympic Games. Deputy Assistant Commissioner Janet Williams, the national lead on e-crime for the Association of Chief Police Officers (ACPO), said specialist officers are seeing precursor activity they believe is from …
Robert Blincoe, 02 Nov 2009

Compromised legit sites power hack attacks

Surfers are increasingly infected simply by visiting everyday websites with vulnerable PCs due to a change of hacker tactics. Drive by downloads and targeted attacks, rather than internet worms, have become the favourite attack mechanism, according to the latest edition of Symantec's Internet Threat Report, which gives a …
John Leyden, 08 Apr 2008

Sun does Opteron can-can for French bank

Just one week after wooing Wall Street, Sun Microsystems has secured a financial services win on the other side of The Pond. France's BNP Paribas has picked up Sun's V20z Opteron-based servers for a new government compliance system as well a new risk-management analysis application for traders. Funny enough, the bank went very …
Ashlee Vance, 29 Sep 2004
The Register breaking news

Harvard smarties name Steve Jobs 'world's best CEO'

The prestigious Harvard Business Review has published its ranking of the world's best-performing CEOs, and we'll give you one guess who is El Numero Uno. You're right. As the report succinctly puts it, "It may come as no shock that Steve Jobs of Apple tops the list." What may come as a surprise - or not - it that one other high …
Rik Myslewski, 21 Dec 2009
The Register breaking news

Finance houses struggling against hackers

Financial institutions are losing the war against hackers, according to a new survey out this week. The majority of finance houses (83 per cent) quizzed by management consultant Deloitte acknowledged that their systems had been compromised in the past year, compared to only 39 per cent in 2002. Many of the resulting security …
John Leyden, 20 May 2004
The Register breaking news

Free training offer is latest spam scam

Surfers were yesterday urged to be wary of unsolicited emails offering training and well paid jobs in the financial sector. Rather than offering a route into a lucrative job such emails are likely part of a devious scam masterminded by Russian spammers, security vendor Sophos warns. The emails, which claim to come from merchant …
John Leyden, 02 Nov 2004