Articles about Financial Sector

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

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 …
Kelly Fiveash, 25 Jul 2012
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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
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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
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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

Understanding the make-up of information management

On demand 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 …
Miatta Momoh, 03 Feb 2012
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Cyberwar report: Israel, Finland best prepared for conflict

Analysis 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
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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
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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
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 …
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

Would you spend $300m to save 6ms?

Blog 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

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 …
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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
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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 …
John Leyden, 20 Apr 2011
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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
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 …
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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

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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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
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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

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 In second place is Media, then …
John Oates, 09 Jun 2010

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 …
John Oates, 13 May 2010
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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
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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
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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 …
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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 …
Kable, 23 Mar 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
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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 …
Rik Myslewski, 21 Dec 2009
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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
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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
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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
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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 …
Dan Goodin, 20 Aug 2009
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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
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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
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Doc-in-chief targets 'passive drinking' with price hike

Government chief medical officer Sir Liam Donaldson has gone ahead and demanded the government jack up the price of alcohol to 50 pence a unit. Donaldson made the call this morning despite a weekend of ministerial insistences that the government had no intention of doing any such thing to a population already punch drunk from …
Joe Fay, 16 Mar 2009
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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
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 …
Joe Fay, 03 Mar 2009
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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 …
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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 …
John Oates, 11 Feb 2009
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 …
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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
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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

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
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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, …

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 …
John Oates, 13 Oct 2008
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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

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 …
Joe Fay, 19 Sep 2008
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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

IBM lays the rules down

In the aftermath of IBM’s announcement of intent to buy ILOG, it would be all too easy for us to reflect back on a conversation with ILOG’s chief executive Pierre Haren last winter at its annual user conference covering survival in the software industry. Haren’s description of the typical life of a software vendor is that first …
Tony Baer, 30 Jul 2008