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Articles about Financial Sector

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
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

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 Ozimek, 14 Apr 2010
The Register breaking news

Pre-election budget targets politics, not policy

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

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
Sun

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
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

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
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
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, …
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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

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
The Register breaking news

Self Service BI: Would you, should you?

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
cloud

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
HP

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
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 flagship …
Lewis Page, 04 Mar 2009
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 week …
Kelly Fiveash, 19 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

UK.gov 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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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

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

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
channel

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

101 uses for a former merchant banker

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
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
Computacenter

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
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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
IBM

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.biz 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
The Register breaking news

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

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

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

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
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
Michael Dell

Focus plus excitement: Michael Dell talks turnarounds

Despite harsh economic times, Michael Dell hasn’t been complaining. "We've been growing faster than the industry for the last three quarters," the Dell CEO told a group of Latin-American and European reporters. In Round Rock, Texas, a town which wouldn’t have existed today if Dell hadn't established its headquarters there, …
Jan Libbenga, 28 Jul 2008
homeless man with sign

Sun introduces first Intel workstation in two decades

Common knowledge dictates that fashion comes in cycles. That rule applies inside Sun Microsystems, although one could argue they're spinning in their own separate mobius when it comes to workstations. Hey, remember Intel? Sun just did. Sun announced today it will release its first Intel-based workstation since the late 1980s …
Austin Modine, 23 Oct 2007
The Register breaking news

Stop the US daylight saving madness!

US plans to change daylight saving hours this spring could wreak havoc on computer systems, Gartner claims. The analyst firm said automated systems could run haywire this March. Disruptions could affect calendars, billing programs and security systems, as well as undermining automated trading systems. This year daylight saving …
OUT-LAW.COM, 06 Feb 2007
IBM

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
The Register breaking news

Morse customers start spending again

Morse customers in the financial sector are at last flashing the cash again, returning to Europe's biggest Sun reseller for big infrastructure deals in its Q2. This is good for morale and profits: however, the revenue mix is such that Morse margins are down - there's less profit to be had in hardware prices than in services. …
Drew Cullen, 20 Jan 2004
The Register breaking news

The FDRs of Green explain the gentle art of planet saving

A "triple crunch" of financial crisis, climate change and soaring oil prices threatens the world with a new Great Depression so, 'drawing inspiration from FDR' the Green New Deal Group proposes "a modernised version" of the solution. FDR himself being unhappily unavailable, we have the newly-formed group and its eponymous report …
Tim Worstall, 25 Jul 2008

Server makers shift more boxes than cash in Q2

Strong sales of small one- and two-processor systems again pushed the overall server market higher in the second quarter, according to the latest data from Gartner. Total server sales hit $11.5bn in the period - a year-over-year rise of 7.7 percent. Dell enjoyed its familiar position as the fastest growing vendor, and IBM held …
Ashlee Vance, 25 Aug 2004
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Hackers target home users for cash

Consumers are now on the main target of malicious hackers intent on enriching themselves through the misery of others. Vulnerabilities in desktop applications and the increased use of stealth techniques are on the rise among members of the digital underground, according to the latest edition of Symantec's Internet Security …
John Leyden, 25 Sep 2006
The Register breaking news

PSINet buys US ecommerce outfit in $720m deal

PSINet is to buy Transfer Network Services (TNS), the ecommerce and data processing specialists, in a cash and stock deal worth an estimated $720 million. The move is widely regarded as being a shot across the bows of other ecommerce players, such as IBM, UUNet and AT&T. According to reports on Newsbytes, Gary Arlen, president …
Lucy Sherriff, 24 Aug 1999
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Veracode hunts for backdoors in outsourced code

On-demand application security testing firm Veracode has added detection for backdoors and malicious code to its services. The addition aims to tap into concerns about the integrity of code developed by outsourced contractors. Veracode’s SecurityReview provides application code review as an online subscription-based service. …
John Leyden, 05 Feb 2008
The Register breaking news

UK.biz likes buying online

UK Businesses are buying goods and services over the web in increasing numbers. The latest government figures show that 29 per cent of companies bought online in 2003, up 13 per cent from 2002. Broadband has been more widely adopted too: one in four companies had a fast connection by 2003, compared to one in seven the year …
Lucy Sherriff, 03 Nov 2004
The Register breaking news

E-crime costs UK business billions

Detective Chief Superintendent Len Hinds, head of the National High Tech Crime Unit(NHTCU), warned British business today that denial of service attacks, coupled with threats of extortion are the fastest growing threat faced by IT departments. Hinds said: "We're seeing a marked increase in distributed denial of service attacks …
John Oates, 24 Feb 2004