Articles about Financial Services Sector

The Register breaking news

Hackers develop 'memory-scraping malware' to steal PINs

More personal data records were breached last year than the previous four years combined, thanks to increased hacker activity rather than insider threats. Verizon's second annual Data Breach Investigations Report also found that the financial services sector accounted for 93 percent of all such record compromises during 2008. …
John Leyden, 16 Apr 2009
The Register breaking news

Reg readers say ‘don’t panic’ about the economy

Reg Tech Panel Few would now dispute the reality of the global ‘credit crunch’ and the economic downturn this has triggered, which has already hit in most major economies, and according to many pundits is set to continue through 2009 and beyond. But what do Reg Readers make of it all? This is a question we investigated during our recent ‘ …
Dale Vile, 23 Dec 2008
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
fingers pointing at man

Sun measures HPC backorders in petaflops

SC08 Hot on the heels of job cuts that will see some 5,000 to 6,000 company employees given pink slips, John Fowler, the executive vice president in charge of the newly constituted Systems Platforms group at Sun Microsystems, was on hand at the SC08 supercomputing trade show to give a preview of products that Sun will be rolling out …
The Register breaking news

How the fate of the US economy rests on a Dell workstation

The global economy is teetering on the brink of disaster. So, you might think the quants and smart-alecs of the financial industry would have a giant supercomputer humming away somewhere, processing zillions of what-if scenarios per second and sucking in all manner of real-time economic data from the global markets and …
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
channel

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
Samuel Palmisano

IBM misses memo on economic slowdown during Q2

IBM has yet again shrugged off the global economic slowdown with second quarter profits leaping 22 per cent and revenues rising. Although improvements were reported across most operations, IBM's bread-and-butter services division was the star of the show. "I've got to say that this is one of the best quarters I've ever seen," …
Austin Modine, 18 Jul 2008
cloud

And so we begin the tech sector's journey into the Heart of Darkness

Comment Does anyone else remember when technology companies were propping up this economy? Yeah, that's right. Oil prices were surging. Housing prices were plummeting. But there was the resilient technology sector, making us think things might be okay. No companies missing earnings. No layoffs. Hope at the end of the fab. Um, well, I …
Ashlee Vance, 15 Jul 2008

VMware placates Wall Street with 70 per cent Q1 revenue surge

The frenzied folks on Wall Street have come to terms with the realities of a slower growing VMware. The virtualization software maker today reported first quarter results that showed revenue rising 69 per cent year-over-year to $438m. For the same period, VMware's net income rose a bit from $41m in 2007 to $43m. VMware's rather …
Ashlee Vance, 22 Apr 2008

IBM: Treasure Island Revisited

Comment If ever there was proof that the financial community does not understand the basics of a legacy IT company, the euphoria over yesterday's IBM results preview said it all. News of IBM's profit sent the technology sector up,which in turn drove up the broader markets, confusing many IT observers. IBM a stellar performer - I don't …
Cormac O'Reilly, 16 Jan 2008
Xerox

Xerox boss says credit crisis could crunch IT budgets

Xerox has become the latest established IT company to join a chorus of complaints about how the credit crisis has begun to rock spending in the tech sector. In an interview with the Financial Times today Xerox boss Anne Mulcahy, who has been working on turning fortunes around at the firm since taking charge in 2001, echoed the …
Kelly Fiveash, 07 Jan 2008
thumbs up teaser 75

Revenues and profits up at Norkom

Dublin-based Norkom has posted a 53 per cent jump in revenue thanks to strong sales in the US and Asian markets. The financial software developer saw its revenues jump to €17.6m for the six months ended 30 September, with EBITDA (earnings before interest, tax, depreciation and amortisation) increasing 50 per cent to €3.1m for …
Deirdre McArdle, 14 Nov 2007
channel

MiFID: Financial borders fall but small firms must beware

Pan-European regulation of large sections of the financial services sector comes into force today, but the benefits of the system will largely pass smaller firms by, according to the British Banking Association (BBA). The Markets in Financial Instruments Directive (MiFID) is a European Union directive aimed at allowing …
OUT-LAW.COM, 02 Nov 2007
Warning: aircraft

High-level tools offer key to HPC

Last summer at the University of Southampton, Microsoft sponsored an engineering summer school for senior school students to demonstrate just how easy it is to harness the power of high performance computing (HPC). In a couple of days they created a supercomputer which they used to design and simulate an aircraft. "They had no …
Phil Manchester, 15 Aug 2007
The Register breaking news

Aspect oriented software comes of age

There are two observations you can make about most new ideas in computing. Firstly, they usually originate at Xerox's legendary Palo Alto Research Centre (PARC). Secondly, they take 10 years to make the transition from the lab to the real world. Aspect-oriented software development (AOSD) fits the bill on both counts. Although …
Phil Manchester, 01 Aug 2007
channel

Software company fails to prove it wrote its own software

A dispute between two software houses remains unresolved after the Court of Appeal refused to rule that one company definitely did not copy the other's software. The ruling does not mean that copying did take place, though. In an unusual case centring on a software development outsourcing contract, a development company pulled …
OUT-LAW.COM, 25 Jan 2007
channel

CapGemini waves $1.25bn at Kanbay

Services firm CapGemini has made a $1.25bn bid for Kanbay, the US-based IT consultants, in a bid to expand its footprint into the US and Indian markets. The offer of $29 per share, represents a 16 per cent premium on Kanbay's closing price, yesterday. The firm said the deal was part of its growth strategy, and that once bedded …
Lucy Sherriff, 26 Oct 2006
The Register breaking news

HM Treasury unplugged - Government's IT late list

Analysis The Conservatives have helped expose, again, the systemic failure of Government IT projects with a seemingly trivial parliamentary question about costs and timescales at HM Treasury. A written answer extracted by Theresa Villiers, shadow chief secretary to the Treasury, discovered that IT projects were running a total of 17 …
Mark Ballard, 14 Oct 2006
graph up

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
For Sale sign detail

'Steady progress' at Computacenter

Computacenter has recovered a little bounce in its step, reporting a "period of steady progress" for the first half of 2006. In a trading update today, the company said UK Technology Solutions experienced strong growth, while Managed and Support Services achieved modest growth. Better margins in UK product sales "more than …
Team Register, 12 Jul 2006
The Register breaking news

Suffolk becomes 'face of government IT'

John Suffolk, currently the head of Criminal Justice IT, is to take over as the government's chief information officer. His appointment was announced by Cabinet Office minister Jim Murphy. Suffolk will lead the work of the CIO Council in implementing the Transformational Government strategy and head up the e-Government Unit. A …
Kablenet, 26 Apr 2006
The Register breaking news

BT, uSwitch clash over transparency of switching sites

BT has called on uSwitch to come clean about commission charges following concerns about the transparency of the online price comparison service. uSwitch - which was snapped up by US outfit EW Scripps for £210m ($366m) earlier this month - describes itself as a "free, impartial...comparison and switching service that helps …
Tim Richardson, 29 Mar 2006
The Register breaking news

Sweetening the pill of compliance

Significant demands have been placed on the financial services sector as a result of compliance related requirements over the past three years, according to a study carried out by Freeform Dynamics involving the interview of 100 UK based IT managers from a range of Banking and Insurance organisations. The study also reveals …
Helen Vile, 20 Feb 2006
The Register breaking news

UK.gov loves computer contractors (true)

The government has surpassed the private sector to become the country’s largest employer of freelance IT specialists. Over one in four IT contractors in the UK now work in the public sector, according a report by contractor services firm Giant Group. Since 2003, the government has expanded its lead in freelance IT hires over …
Startups.co.uk, 20 Jan 2006
cloud

Sun wants to be the Badger in Web 2.0

Comment Sun Microsystem's President and Chief Operating Officer Jonathan Schwartz wants to ally the company with one of the year's biggest marketing flops, "Web 2.0". "Sun will be the Dot in Web 2.0," he wrote this week. "No shame in saying it." We're not so sure about that. Warning: Badgers Judging by a recent survey of ours, …
Andrew Orlowski, 02 Dec 2005
The Register breaking news

Fewer students than ever studying physics

The numbers of students applying to take the A-level physics exam fell again this year, research has found. In 2005, 579 fewer physics students were entered than in 2004, a decline of around two per cent. The numbers studying chemistry and biology, meanwhile, have been enjoying a steady rise. The Institute of Physics (IoP) …
Lucy Sherriff, 18 Aug 2005

Egenera freshens blades with a touch of Opteron

Egenera this week spruced up its blade server line in a major way with the release of new Opteron-based systems and a refresh of the BladeFrame hardware that sits at the center of the company's technology. Egenera will shortly roll out two- and four-way Opteron-based blades, making it one of the first companies to use AMD's 64- …
Ashlee Vance, 07 Feb 2005
The Register breaking news

JP Morgan eats IBM outsourcing contract

JP Morgan is canning a $5bn, seven-year outsourcing agreement with IBM. IBM won the contract ahead of EDS and CSC, taking responsibility for the investment bank's data centres, desktop support and network services. The deal was signed 30 December 2002 and was hailed by Eric Ray, vice president for financial services at IBM, as …
John Oates, 15 Sep 2004
The Register breaking news

Shackling the email content beast

Email is such an essential tool that it is no longer sufficient to merely treat it as a means of communication. Instead, it is the lifeblood of an organisation - it is where our orders and complaints come in, and one of the main means by which we communicate our messages and business results to the outside world. Spammers know …
Fran Howarth, 03 Aug 2004

Help the Aged Data

ILM, or Information Lifecycle Management as it likes to be known formally, is employed in the areas of storage and storage management. At heart ILM is the management of tiered storage to provide cost effective, robust management of data as it ages. And it is becoming an increasingly popular TLA (three letter acronym). Why? As …
Tony Lock, 13 Jul 2004
The Register breaking news

Sun nabs AIB desktop contract

Sun has managed to oust Microsoft from its position as provider of desktop software to Allied Irish Bank (AIB), and has secured the deal to supply its Java Desktop System (JDS) to the bank's 7,500 desktop users. Sun is, as always, particularly pleased to have nabbed a bit of business from its rival. Curtis Sasaki, vice president …
Lucy Sherriff, 29 Jun 2004
The Register breaking news

Anti-phishing group backs email authentication

A group attempting to stop the new scourge of phishing fraud on the Web says email authentication technology could do the job, a concept backed by Microsoft. The Anti-Phishing Working Group (APWG), which includes Internet service providers (ISPs), banks and on-line retailers, said that 95 per cent of phishing attacks in May …
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

Morse buys niche consultancy biz

Morse, Europe's biggest Sun dealer, has bought a City management consultancy business called CSTIM. Terms are undisclosed. CSTIM clients are in the financial services sector, Morse's biggest vertical market. The firm has 60 staff based in London, Luxembourg, Edinburgh, Jersey and Cape Town. It will continue to operate under its …
Drew Cullen, 21 Apr 2004

Business optimism and investment jitters

US publication Optimise Magazine recently produce some interesting conclusions concerning the correlation between business outlook and technology investment for 2004, writes Bloor Research analyst Bob McDowall. The magazine's analysis is based on a survey of business/technology executives from the financial services sector in an …
IT-Analysis, 17 Mar 2004

IBM teaches sales force to go vertical

IBM on Monday kicked off phase one of a new sales strategy that includes bundles of middleware targeted at specific vertical markets. And the first such market to be hit is the financial services sector. The chest-thumping from IBM here is a bit confusing at first. The software is not new and neither are the services that come …
Ashlee Vance, 02 Feb 2004
The Register breaking news

CIO survey gloomy on IT upturn prospects

ComputerWire: IT Industry Intelligence There is not even a glimmer of hope that IT budgets will grow next year, latest research from Merrill Lynch & Co Inc has confirmed, with two-thirds of European business CIOs polled in a survey of technology spending forecasts expecting their budgets to be flat or down in 2003 compared …
ComputerWire, 14 Oct 2002
The Register breaking news

Half of users attack their PCs

Updated Eagle-eyed Register readers may have come across this story last Friday. Well, we liked it so much we thought we'd dust it off and re-publish it. Last week this one caused a bot of a stir, when the Spin Doctors behind this story sent it to us a full week ahead of the embargo. Well, we don't do embargoes anyway but here it is …
Linda Harrison, 27 May 1999