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KCOM Group results hit by Phones4U woes

Brit telco and tech services playa KCOM Group has kickstarted a cost-cutting programme to counter a wobbly top and bottom line, not helped by the collapse of Phone4You and slower than expected PSN demand. The LSE-listed Hull-based group reported a 6.7 per cent drop in turnover to £173m for the first half of fiscal ’15, as profit …
Paul Kunert, 25 Nov 2014

C'mon, Brocade: QLogic's left the Fibre Channel game. Flat revenues again?

Analysis Brocade is a member of the flat revenue Earth society, with its mix of annual and quarterly Fibre Channel and Ethernet revenues hardly changing between last year and this year. Brocade’s fourth fiscal 2014 quarter revenues of $564m were up by one per cent year-on-year, up from $559m a year ago, and also up three per cent …
Chris Mellor, 25 Nov 2014
Motorola StarTac

Lenovo: We'll say HELLO MOTO to profits in 18 months

Lenovo is looking to do for Motorola mobiles what it did for the IBM Thinkpad, kicking life into the products and making the company profitable. The aim is to make the company profitable in the next 18 months. All 3,500 people who had been working for Motorola under Google ownership have transferred to Lenovo, and while the …
Simon Rockman, 25 Nov 2014
Violin array flash cards

Don't fret: Flash array fiddler Violin sees revenue rise, losses dip

Violin has recorded rising revenues and lessening losses for its third quarter as the new CEO gets the flash array company barking louder in the data centre flash array dogfight. Violin_Q3fy2015_800 Kevin DeNuccio took hold of the CEO reins at Violin in February and the company has just reported results for its third fiscal …
Chris Mellor, 25 Nov 2014

South Londoner wins Reddit MILLIONAIRE not-a-lottery lottery

An anonymous South Londoner has been named as the winner of a pseudo lottery designed to (hopefully) make one Reddit user a millionaire. A Redditor who goes under the name Emphursis was picked from the posters at a sub-Reddit called Millionaire Makers. Other forum folk have been asked to each pledge one dollar to him, in the …
Jasper Hamill, 25 Nov 2014

Phoenix IT Group CEO: Turnarounds don't happen overnight

The turnaround at Phoenix IT Group initiated by CEO Steve Vaughan was never going to happen overnight and the latest set of declining half-year numbers for the period ended September are testament to that point. The LSE-listed tech services biz this morning reported revenues of £107.4m, down 8.1 per cent on the corresponding six …
Paul Kunert, 25 Nov 2014
channel_teaser_money_top

Hungry Advanced Computer Software gets swallowed for £725m

Acquisition-hungry Advanced Computer Software (ACS) has itself been acquired by private equity firm Vista for £725m. Vin Murria, chief executive of the healthcare and biz management software and services firm, said the deal would help ACS move to its "next stage of its growth". She said: "ACS' value has grown from £32m to £725m …
Kat Hall, 25 Nov 2014

Samsung to boot out Shin after Galaxy S5 tanks – report

Sales of the Galaxy S5 have so disappointed Samsung that it is reportedly looking at ousting mobile boss JK Shin and parachuting in appliances and telly tsar BK Yoon – who would oversee mobiles as well as his existing remit. Whichever way you cut it, the S5 has done badly:revenue, margins, year-on-year sales against the S4 or …
Simon Rockman, 25 Nov 2014
Orange Credit Card

Bank of England: What's all this then, CHAPS? Review to get a grip on IT cockup

The Bank of England has opened an investigation into the IT failure of its bank-to-bank payment processing system, which handles £277bn a day. Last month the bank's Clearing House Automated Payments System (CHAPS) was temporarily suspended. This was due to "technical issue related to some routine maintenance" on its Real Time …
Kat Hall, 25 Nov 2014
iPhone that fell from 13,500 feet (source: CNN)

iPhone sales set to PLUMMET: Bleak times ahead for Apple

Tech analyst Ming-Chi Kuo has predicted Apple will face a grim start to 2015 with iPhone sales plummeting by up to a third. Kuo, of analyst outfit KGI Securities, has predicted that iPhone sales will surge ahead of Christmas, reaching a height of a total of 71.5 million units for the fourth quarter. Yet after the Christmas …
Jasper Hamill, 24 Nov 2014

Bubble-licious: Good times here again for UK tech startups – research

The level of venture capitalist (VC) investment being pumped into UK and Irish tech companies is now "reminiscent" of the early 2000s, with funding for the third quarter of 2014 double that of a year ago, according to research. In Q3, £363m was invested in in 88 deals worth more than £500,000, bringing the total for the year so …
Kat Hall, 24 Nov 2014

Gov.UK annual IT spend edges down... to £4.3 BEEELLION

Government IT costs edged down by 8.5 per cent across the nine biggest Whitehall spenders to £4.3bn for 2013/14 compared with the previous year. Back office systems account for the lion's share of running costs, with more than 80 per cent of IT budgets going on this area, according to El Reg's analysis of government spending …
Kat Hall, 24 Nov 2014
Regina Egbert, El Reg's virtual news anchor

NOW! It's news to us at Vulture Central

Vid Youtube Video The Reg serves up the highlights of this week with consummate ovoid avatar Regina Eggbert. This week, Regina fills us in on what's new with wearables, RBS's costly regulatory rap for 2012's massive IT meltdown and the crowdfunded British mission to the Moon. If you want more on this week's stories, click here, …

BIG FAT Lies: Porky Pies about obesity

Worstall @ the Weekend I often wonder why it is that people bother publishing “research” papers that are obviously incorrect. Is it that they're getting paid to spout bollocks? So who ate all of these? Tax payers mainly Or, is there some thought that we're all too stupid to realise that they're teabagging great big hairy ones at us? The latest …
Tim Worstall, 23 Nov 2014
Firefox ad 2nd St SF 2011

Mozilla remembers 2013. Y'know, back when it still gobbled at the Google money-trough

The Mozilla Foundation has released its annual financial statement for 2013, and the numbers raise important questions about Mozilla's future, now that it has ended its longstanding funding relationship with Google. Royalties paid by Google for queries from the Firefox browser's built-in search box have been the major source of …
Neil McAllister, 21 Nov 2014
grab_that_cash

We're not, er, 'cut-throat' capitalists – VC formerly known as ISIS

Not wanting to be confused with the vicious band of Middle Eastern warmongerers, ISIS Equity Partners has killed off its old brand, and is now answering the phones as Living Bridge. The name change was for fairly obvious reasons, as the venture capitalist doesn’t want to be associated with, er, blood-thirty, medieval cut-throats …
Paul Kunert, 21 Nov 2014
Fraud image

Comet’s might-have-been saviour 'not paying biz debts'

Clive Coombes, the man who tried and failed to save the Comet brand, appears to be struggling to keep his existing business Lewisons Wholesale (LS) afloat, with supplier debts now mounting. The electronics retailing entrepreneur had planned to buy the name of the once mighty High Street giant that went under in late 2012, but …
Paul Kunert, 20 Nov 2014

'Cleantech' a dirty word for VCs? RUBBISH!

Worstall on Wednesday Over at Bloomberg there's a piece bemoaning the fact that the big Venture Capital companies aren't investing in "cleantech". You know the sort of thing: climate change, biggest opportunity ever, why isn't private money getting involved, maybe the government will have to do everything, blather blather, et cetera. The problem with …
Tim Worstall, 19 Nov 2014

Keen to get CRITICAL PAYMENT systems up QUICKLY after HACK?

Restoring payment systems after disruptive cyber attacks could involve compromising analysis of incidents, says report A new report on cyber resilience in financial market infrastructures has highlighted potential conflicts between legal obligations on the reporting of cyber security or data breaches and the need to restore …
OUT-LAW.COM, 18 Nov 2014
QL launch: Micro Men style

UK urged to stop bigging up startups, feed 'growing' firms

The UK must stop obsessing over startups and instead channel its resources into growing companies, a wide-ranging report has said. Britain now starts more companies per head than the US, but has a lower proportion of businesses gradually scaling up to become large companies, compared with the US and other nations, said the …
Kat Hall, 18 Nov 2014
Taxi Driver

Now Uber can take EVERYONE for a ride

+Comment Casual car hire company Uber is teaming up with Spotify, ensuring neither your favourite musicians nor your driver get paid very much. "Uber users who link their Spotify account to their Uber account can push a button, get a ride and get in to the car their Spotify station is playing,” explained Travis Kalanick, Uber CEO. …
Andrew Orlowski, 17 Nov 2014

You know where Apple Pay is getting used a LOT? Yes - McDonalds

Half of all McDonald's US touch purchase transactions are now made using Apple Pay, the fast food giant has announced. You'd think Apple fans would be more likely to buy trendy organic nosh at Whole Foods than walk under the Golden Arches to buy a supersize meal. But the iColytes of Cupertino are seemingly willing to do both. …
Jasper Hamill, 17 Nov 2014

GT sapphire glaziers: You signed WHAT deal with Apple?

Worstall @ the Weekend It's been a terribly exciting few weeks, as we've seen GT Advanced Technologies (GTAT) stumble and crash headlong into bankruptcy protection. The more documents are released by the court the more we can find out about just how this happened. And the more we do see, the more we realise that what actually happened is the …
Tim Worstall, 16 Nov 2014

Mastercard and Visa to ERADICATE password authentication

Mastercard and Visa are removing the need for users to enter their passwords for identity confirmation as part of a revamp of the existing (oft-criticised) 3-D Secure scheme. The arrival of 3D Secure 2.0 next year will see the credit card giants moving away from the existing system of secondary static passwords to authorise …
John Leyden, 14 Nov 2014

Nokia: Buh-bye LUMIA and cash-sucking handset pals... LET'S MAKE SOME MONEY!

Nokia has raised its long-term profitability target and expects its new business of concentrating strictly on the telecoms equipment game to grow next year. The Finnish firm, which has focused on making telco gear and its intellectual property portfolio since ditching its handset unit earlier this year, said that strong demand …

Moshi Monsters' daddy Mind Candy: Falling sales, £2.2m loss...

Profits at Shoreditch darling Mandy Candy plunged into the red in 2013, with the company recording a £2.2m loss for the full-year 2013, compared with profits of £8m for 2012. During the same period revenue at the company - which has brought the world kiddy virtual-playland Moshi Monsters - fell by more than one-third to £22.19m …
Kat Hall, 14 Nov 2014
Prison window

Ha ha, fooled you! Shares tumble over G4S fake website profit warning

False rumours of a profit alert and executive dismissals put the skids under G4S shares on Wednesday. A bogus statement was emailed to journalists falsely stating that the security service firm had discovered accounting errors. The false warning (suggesting G4S profits would be restated) was sent out in an email containing a …
John Leyden, 13 Nov 2014
Fraud image

Don't like droopy results, NetApp? Develop server-side SAN

+Comment NetApp's second-quarter revenue number have confirmed its recent overall decline, with the storage and data management company trying to recover from several recent quarters of revenue falls. NetApp_Revenues_To_Q3fy2015 NetApp revenues to Q2 full year 2015 with polynomial trend line showing decline A curve showing a long …
Chris Mellor, 13 Nov 2014
Sky 3D football

Sky: We're no longer calling ourselves British. Yep. And Broadcasting can do one, too

BSkyB has ditched the words British and Broadcasting from its name, after the media and telecoms company completed its takeover of Sky Italia and Sky Deutschland yesterday. From now on, it will simply be known as Sky, but shareholders will be asked to approve the name switch at the firm's AGM on 21 November. Its company stock …
Kelly Fiveash, 13 Nov 2014
Cisco CEO John Chambers speaking at Cisco Live! 2014

Cisco ends Q1 an inch ahead of guidance

Cisco has farewelled its chief financial officer after announcing results that showed a still-beating heart somewhere in the giant switch market. Net income for the Borg's first quarter was reported at US$1.8 billion, on revenue of $12.2 billion, about US$40 million ahead of Wall Street's expectations. The company also announced …
Google UK office logos

Google will have to WAIT and SEE if I fine them - EU antitrust chief

New EU competition chief Margrethe Vestager has said that she won’t be rushed into a decision on Google's alleged abuse of its dominance of the search engine market. Vestager described the investigations into Google as “multifaceted and complex” and said she would need some time to decide on the next steps. The case against the …
Jennifer Baker, 12 Nov 2014
Fox sitting down

Mozilla re-negotiates Google multi-million dollar sugar-daddy deal

Exclusive Mozilla is negotiating its multi-million-dollar sugar-daddy finance deal with Google to keep operating. The Firefox browser-maker is in talks with Google to extend an agreement that has funnelled millions of Mountain View dollars into the not-for-profit web idealist shop, The Reg has learned. Google is the default search …
Gavin Clarke, 12 Nov 2014

My HOUSE used to be a PUB: How to save the UK high street

Worstall on Wednesday Interesting news on the Blighty high street as Tesco continues to lose market share: now it has fallen behind Amazon as the retailer of choice for the sort of shiny-shiny we buy each other for Crimbo. Fruit and vegetables on display on the shelves of a supermarket Roomy fridge, isn't it? I think we'll put the kids' room here. …
Tim Worstall, 12 Nov 2014
Columns of coins in the cloud

Rackspace CEO Rhodes: Just months on the job and look at our swollen digits

Taylor Rhodes, the latest man to grab the CEO chair at Rackspace, must have, er, racked up the celebratory drinks last night as the hoster-come-cloud-flogger reported a comparatively decent set of Q3 fiscal ’15 financials. The Texan-based biz reported revenues of $460m, up 4.2 per on last quarter and 18.3 per cent higher than …
Paul Kunert, 11 Nov 2014

Bullish Vodafone barges back into UK consumer broadband market

Vodafone is plotting to re-enter the UK's competitive broadband market in 2015 – with a little help from arch enemy BT. The mobile operator said this morning that it would use the Cable & Wireless Worldwide network it bought in 2012 to tout its rival service at Brits. That acquisition gifted Voda with access to nearly 13,000 …
Kelly Fiveash, 11 Nov 2014

Are CSC's mega-costly NHS contracts finally turning a profit?

CSC's troubled billion-pound NHS contracts finally appear to be turning around, chief executive Mike Lawrie revealed in a conference call. However, it is unlikely the firm will ever recoup its money from the defunct systems, which have cost the company close to £2bn. In a conference call for CSC's second quarter earnings Mike …
Kat Hall, 11 Nov 2014
Vodafone UK booster brolly

Vodafone's 4G investment is beginning to pay off

What matters in results isn’t how good or bad they are, but how they compare with what lots of very highly paid people have been calculating they would be. This makes the Vodafone results for the six months to 30 September 2014 good. While the Earnings Before Tax, Depreciation and Amortisation (EBITDA) from-day-to-day business …
Simon Rockman, 11 Nov 2014
Pile of mobiles

Samsung, Vietnam in talks over another BEEELLION-DOLLAR mobe factory

Samsung Electronics has applied for a licence to open a new $3bn smartphone factory in northern Vietnam, near an existing facility. Sammy is planning to build the plant in Thai Nguyen province, where it already has a $2bn phone factory that it opened in March, Dau Tu newspaper originally reported. In an emailed statement, the …
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It's a bad day to be Serco's CEO... or an investor, come to that

Scandal-hit integrator Serco today issued its fourth profit warning of this fiscal and calendar year, confirmed a £1.5bn write-down and provision to cover to loss-making contracts and effectively exited private sector business process outsourcing. The financial markets reacted negatively, sending the company’s share price …
Paul Kunert, 10 Nov 2014

If only 0.006% care about BLOOD-SOAKED METAL ... why are we spending all this cash?

Worstall @ the Weekend As El Reg's official dodgy metals dealer, another tilt at the oh-so-fashionable concerns over conflict minerals and that “blood in the mobile” campaign. The essential point is that almost none of us seem to be very interested in the subject so why the hell are we spending billions of dollars on it? You can read past coverage of …
Tim Worstall, 9 Nov 2014
gTLD graphic

Newly public dot-dentist flogger Rightside's shares jump on strong domain sales

In its first earnings report since going public, domain-name specialist Rightside reported revenues of $48.8m, a 7 per cent revenue increase over the year-ago quarter, causing its shares to jump by 4.5 per cent. The company is now valued at $173m. Rightside is unique in the domain name industry in that it services every level of …

Revenue drops at IT giant CSC... 'Good progress' says chief

Revenue at CSC fell by 3.4 per cent to $3.08bn for the firm's second quarter as "transformation efforts" took hold at the IT giant. Meanwhile, operating income fell 3.3 per cent compared to the same period last year – to $340m. Half-year net income fell by $112m to $307m, compared with the first six months of 2013. Sales were …
Kat Hall, 7 Nov 2014