Financial News > More stories

Watson Power7 cluster. Pic: IBM

IBM splashing $2bn on Weather Company – reports

Big Blue is reported to be further beefing up its Watson division by splashing $2bn (£1.3bn) snapping up the digital arm of the Weather Company, a US-based organisation that runs the Weather Channel and a digital company providing mobile apps. Both the Wall Street Journal and the Financial Times reported that people familiar …
Kat Hall, 28 Oct 2015
Two upended shopping trolleys in an alleyway. Photo by Cyron, licensecd under CC 2.0

ICO 'making enquiries' into bizarre shopper data spill at M&S

The Information Commissioner's Office is making enquiries into Marks & Spencer's website after customers complained that they were being presented with each others' personal details while shopping. Marks & Spencer made its website temporarily unavailable last night after what it claimed was "a technical issue". The company's …

Apple: We're going to sell $77bn worth of iStuff this holiday season

Apple says it hopes to haul in anywhere from $75bn to $77bn (£48bn to £50bn) over the upcoming holiday shopping season. The Cupertino seller of iThings said the upcoming quarter is on pace to be its best ever, as the company predicts it will edge out last year's $74.6bn Q1 total with an estimated $75-77bn revenue haul for its …
Shaun Nichols, 28 Oct 2015

Top watchdog probes IBM over 'transactions in US, UK, Ireland'

IBM's stock price has taken a hit after the tech titan revealed it is under investigation by the US Securities and Exchange Commission (SEC). Big Blue said in its latest 10-Q filing that for the past two months, the financial watchdog has been looking into its accounting practices. "In August 2015, IBM learned that the SEC is …
Shaun Nichols, 27 Oct 2015
The road running through the PRATCHETT landing area

CommVault cries out in revenue pain as profits slam into reverse

CommVault's second quarter saw a deepening loss and continued revenue decline, putting the pressure to perform on its new software. Days after the CommVault Data Platform, the rebranded Simpana, was launched, CommVault's quarterly results showed the need for it and its hoped-for revenue pick-me-up properties. Revenues of $140 …
Chris Mellor, 27 Oct 2015

Cisco swallows security firm Lancope for $452m

Cisco has announced its intention to acquire netsec firm Lancope for more than $452m in cash. The company aims to supplement its security offerings with those of Lancope's StealthWatch suite, which protects networks with live monitoring and behaviour analytics of network data flows. Cisco is doubling down on its netsec …

By 2019, vendors will have sucked out your ID along with your cash 5 billion times

Research house Juniper has stared into its crystal ball and discovered that the number of biometrically authenticated payment transactions will reach nearly five billion by 2019, up from a mere 130 million currently. Apple Pay and Samsung are the only providers that currently use fingerprint scanners for authentication, with …
Kat Hall, 27 Oct 2015
Skip full of rubbish outside an office building. Photo via SHUTTERSTOCK

Deutsche Bank's creaking IT systems nervously eyeing bins

Deutsche Bank is the latest financial institution to announce plans to rip out its creaking IT, according to reports. According to the Financial Times, John Cryan, the new boss of Deutsche Bank, is determined to overhaul the creaking computer systems that he blames for its woes. It follows a major management restructure last …
Kat Hall, 27 Oct 2015
Godzilla toy in pieces

Intel sprinkles Saffron on its chips, to satisfy its Big Data appetite

Intel's slung some spare silver at Saffron, a cognitive computing business with customers in aerospace, healthcare, insurance and manufacturing. It's yet another Big Data play, with Intel new technology senior veep Josh Walden blogging that the company offers a “fresh look” at big data anlytics. It's almost a copy of today's …
Suitcase full of money

Broadcom lowers cone of silence over results

Broadcom has pleased investors, turning in Q3 financials that saw its profit rise in the face of falling revenue. After a tough couple of years which, among other things, saw it exit the cellular baseband modem market, and with investors unhappy at the US$37 billion Avago takeover of the company, the results were welcomed, …

We can't all live by taking in each others' washing

Worstall @ the Weekend There's an old jokule, vaguely traced back to Mark Twain, that the people of the Isles of Scilly used to eke out a living by taking in each others' washing. Yes, another economic thigh slapper: but the really weird thing is that for all of us seven billion humans in aggregate, we do really do that. This is something that makes …
Tim Worstall, 25 Oct 2015
Santa Claus on his laptop

Twitter CEO Jack Dorsey hands out shares to remaining staffers

Having recently put down his axe after hacking away 336 staff earlier this month, chief executive Jack Dorsey has now donned his Santa suit to hand out $200m (£130m) worth of stock to remaining employees. Dorsey said he was giving away about 1 per cent of the company to the company’s 3,700 employees, in Twitter's Teatime town …
Kat Hall, 23 Oct 2015
Satya Nadella

Sales down, profit up, 1,000 bods chopped: Your one-minute guide to Planet Microsoft

Microsoft has published its figures for the first quarter of the 2016 financial year (its accounting department shuns calendars) and reports that profits are up, even though revenues fell. "We are making strong progress across each of our three ambitions by delivering innovation people love," said CEO Satya Nadella in a canned …
Iain Thomson, 23 Oct 2015

Citrix: CEO exit plans accelerated, results take a turn.... for the better

Citrix – currently locked in the vice-like grip of activist investor Elliott Management – has confirmed exec chairman Robert Calderoni will move into the care-taking CEO position. Long-serving chief exec Mark Templeton previously confirmed he is to retire at the end of this calendar year, but had planned to man the fort until …
Paul Kunert, 22 Oct 2015

No VAT on Bitcoin, rules ECJ, but capital gains still apply

Transactions of and for Bitcoin are not subject to value-added tax (VAT) the European Court of Justice (ECJ) has ruled today. A judgment delivered by the ECJ today stated that "transactions to exchange a traditional currency for the 'Bitcoin' virtual currency or vice versa" are not subject to VAT. The case arose due to a …
Docker logo

Docker spouts cash, sucks up Tutum

Docker has hoovered up container hosting outfit Tutum, creating what the cash-packed buyer claims will be a complete platform to build, ship and run distributed applications. Both companies are privately held, and financial terms were not disclosed. It seems safe to assume the deal will add nothing to Docker’s bottom line or …
Joe Fay, 22 Oct 2015

Migraine in the mainframe: Unisys reports more losses

Mainframe maker Unisys posted yet more disappointing results for, recording a net loss of $9.6m (£6m) for its third quarter results. Revenue was $739m (£477m), down 16 per cent on last year. Anthony Miller, analyst at TechMarketView, noted the firm's hardware revenue halved and services revenues declined by 8 per cent. " …
Kat Hall, 22 Oct 2015
Funnel of cash. Credit: via SXC –

Dell's VMware-as-cell sell isn't going swell

VMware yesterday posted a pretty set of numbers. And today its share price fell by twenty per cent, from Tuesday's US$68.97 to a Wednesday close of $55.38 after grazing $52.91. The reason for the dip is widely held to be remarks during its earnings call about the secular move to cloud representing a wave that even VMware will …
Simon Sharwood, 22 Oct 2015

WD is gobbling SanDisk, so what's on the menu? A deflating soufflé

Revenues of $1.45bn in SanDisk's third calendar 2015 quarter were 17 per cent down on the annual compare, although that number beat Wall Street's estimate of $1.4bn. They were comfortably higher than the second quarter's $1.23bn, in fact 17 per cent higher – neat. Net income was $133m, a huge 50 per cent less than the year-ago …
Chris Mellor, 21 Oct 2015
Sunset over the Texan desert. Photo by ArchBob, licensed under cc0 public domain

Careful, don't move. What's that? Yes, it's a glint of growth at EMC

EMC just managed to scratch out a one per cent annual revenue rise in its third calendar 2015 quarter's results, beating its own estimates. The quarter ended on 30 September and revenues of $6.08bn were a tiny amount up on the year-ago's $6.03bn and the second quarter's $6bn. Net income of $528m was down 16 per cent in the …
Chris Mellor, 21 Oct 2015

Contract losses and re-org slap Logicalis

The structural overhaul and sweeping management changes at Logicalis UK, coupled with unavoidable exchange rate losses, are causing some bottom line slippage with operating profit crashing. Datatec, the parent of integrator Logicalis, distributor Westcon and a consulting division, rolled out some unaudited financials today for …
Paul Kunert, 21 Oct 2015
Data scientist image via Shutterstock

R&D money for science – from your taxes?

Worstall on Wednesday The Observer treats us to another one of those give us more money pieces. This time it's a call from Athene Donald, a professor of experimental physics at Cambridge, telling us all how neither the government nor private companies spend enough money on research and development. Therefore, of course, we must all be taxed so that …
Tim Worstall, 21 Oct 2015

Official: WD buys SanDisk

Consolidation in the storage industry is speeding up. One week after Dell decides to buy EMC for $67bn, Western Digital is using Unisplendour money to buy SanDisk for $19bn to create an enterprise and consumer flash powerhouse. Speculation about a SanDisk purchase by Western Digital has been intense, following the $3.8bn …
Chris Mellor, 21 Oct 2015
Pointing finger, photo via Shutterstock

Handy results put ARM on track for a muscular year

Chip designer ARM has posted another period of growth, with revenue up 17 per cent to $375.5m (£243m) for the third quarter, when compared with the previous year. Meanwhile, third-quarter pre-tax profit climbed 27 per cent to £128.4m, compared with the same period last year. ARM appears to be on track for a record year, with …
Kat Hall, 21 Oct 2015

Computacenter warns of squeaky bum time for Brit services contracts

It is edge of the seat time for Computacenter UK’s services peeps - they are preparing to bid on a ream of contracts that will “determine” if the recent good times keep on rolling. The services-based reseller issued a trading update this morn, giving an account of the good, the less good and the ugly for Q3; it was talking …
Paul Kunert, 21 Oct 2015
EE Power Bar

EE reports flat Q3 sales, keeps mum on Power Bar recall debacle

EE reported flat third-quarter revenues to the City this morning and tried to ease investors by promising – once again – that it would do a better job on customer service. During the three-month period ended 30 September, the mobile carrier was battling a major product recall. But it made no mention of the Power Bar blunder …
Kelly Fiveash, 21 Oct 2015

Yahoo! boss! Mayer! promises! shake-up! in! bid! to! save! her! job!

The latest effort to turn around internet stalwart Yahoo! appears to have stalled again with a disappointing earnings report. Shares dropped 2 per cent on the news that the company had missed its third-quarter targets with 15 cents a share in income and $1.23bn in revenue. The markets were expecting 17 cents and $1.26bn. …
Kieren McCarthy, 20 Oct 2015

About that IBM hardware revenues dive: Blame storage, says CFO

IBM's storage hardware revenues declined by 19 per cent year-on-year in its third 2015 quarter, continuing a four-and-a-half year fall. IBM_Storage_HW_revs_to_Q3fy2015 IBM Storage hardware revenues to Q3 2015. IBM CFO Martin Schroeter put IBM's revenue declines in the context of IBM switching from declining businesses to …
Chris Mellor, 20 Oct 2015

Microsoft boss Satya Nadella is paid $18m – and would trouser $20m if sacked

Microsoft's chief exec Satya Nadella was awarded a big fat pay packet of $18m (£12m) for the company's last fiscal year. Nadella was awarded $12m in stocks for the period, according to the company's filing to US regulator the Securities and Exchange Commission. He also received 120 per cent of his target bonus – $4.3m (£2.8m) …
Kat Hall, 20 Oct 2015

Cloud drives up growth in SAP's third quarter

Cloud was the fastest growing of all of SAP’s business lines in the last thee months. Europe’s largest technology firm reported a 116 per cent increase in revenue for cloud subscriptions and support to 599m euros ($679m) for the quarter to September 30. Second fastest was cloud software, up 19 per cent to 4.1bn euro ($4.6bn …
Gavin Clarke, 20 Oct 2015

Your one-minute guide to IBM's financial future – or just imagine a skier tumbling down a slope

Today, IBM is said to be the biggest technology services biz on Earth – and the only way is down. Big Blue's fortunes are continuing in a downward trend: its global revenue has fallen, profit is down, and its share price slipped five per cent in after-hours trading on Monday. The company blamed the strong dollar for bruising …
Chris Williams, 20 Oct 2015

Softcat CEO: No sailing off into the sunset after the IPO for me

The flotation of tech reseller Softcat will make the CEO an overnight quinquagintillionaire*, but Martin Hellawell tells us he won’t be quitting the day job any time soon. The Marlow-based biz confirmed this morning it is to list on the London Stock Exchange in November, as we predicted months ago, but top brass wants to push …
Paul Kunert, 19 Oct 2015
Huawei and Foxconn road sign

Huawei chucks a round $1bn at developers

Huawei plans to pump $1bn into support for developers over the next five years. It comes after IBM inked a deal with Chinese data centre provider 21Vianet Group last week, touting Big Blue's cloud computing platform Bluemix at developers working in the People's Republic. Huawei products director Ryan Ding said, according to …
Kelly Fiveash, 19 Oct 2015

UK biz email slinger Mimecast files for $100m IPO in US

Mimecast filed for an initial public offering on Wall Street on Friday and said it hoped to raise up to $100m (£64m). The London-based email security vendor, which has 14,500 biz customers on its books, said that it planned to list under the symbol "MIME" on the Nasdaq exchange. For its most recent quarter, Mimecast – which …
Kelly Fiveash, 19 Oct 2015

Softcat to float in November, £500m market cap expected

Tech reseller Softcat has confirmed it intends to float on the London Stock Exchange from next month, as it rolled out another set of healthy financials for fiscal ’15. The Marlow-based firm’s intention to go public was perhaps one of the UK industry’s worst kept secrets; it hired Credit Suisse some months ago to run the …
Paul Kunert, 19 Oct 2015
Old beardy man thinking. Pic: Henadz via Flickr

So just what is the third Great Invention of all time?

Worstall @ the Weekend So here's a fun little game for a Sunday morning: what was, or is, the third great invention of all time? I have a candidate for it and it's very much to do with what youse guys do all day. But I'm not entirely sure that it is the proper winner of third place: certainly, most economists wouldn't rate it there at all. Of course …
Tim Worstall, 18 Oct 2015

Steve Ballmer praises Twitter job cuts after buying 4% stake in ailing micro-blab site

Erstwhile Microsoft CEO Steve Ballmer revealed on Friday that he had recently acquired a 4 per cent stake in troubled micro-blurting site Twitter. The news came in a tweet from Ballmer who congratulated Twitter on its decision earlier this week to cut costs by lopping off 8 per cent of its workforce. Good job @twitter,@ …
Kelly Fiveash, 17 Oct 2015
data centre

Slurp-happy reseller SCC: We want to buy a mobile services biz

Midlands tech dynasty SCC has switched on the searchlight to hunt for acquisition targets in the mobile space. The reseller-cum-data-centre-services provider is on the acquisition trail, and a week ago took a minority stake in hosted voice and unified comms-as-a-service player SIPCOM. James Rigby, CEO at SCC, said: “The next …
Paul Kunert, 16 Oct 2015

$65m write-down, ARM chips ship: A 90-second guide to Planet AMD

Intel punchbag AMD wrote down the value of its computer chip stockpile by $65m in the third quarter of 2015 after it couldn't flog some of its older inventory. Meanwhile, the processor designer will, for the first time, ship "modest" numbers of its 64-bit ARM-compatible server chips in the final three months of this year. …
Chris Williams, 16 Oct 2015

Intel inks $8bn debt deal, preps for Altera buy

Intel has bumped up its debt levels by $8bn (£5.2bn) to $20bn (£16bn), ahead of its $16.7bn (£10.4bn) gobble of data centre chip outfit Altera. The Chipzilla admitted to taking on huge debt levels during its third-quarter results conference call. During the three-month period it generated revenues of $14.5bn (£9.4bn) and a …
Kat Hall, 15 Oct 2015
Connected Data Transporters

How much? Imation buys Connected Data for $7.5m. No, really

Imation has bought Geoff Barrall’s Connected Data startup for just $7.5m, and finally appointed a new, although interim, CEO. The Clinton Group is the activist investor now in control of Imation’s board and it’s appointed board director Bob Fernander, a Clinton nominee, as interim CEO. He was interim president. Another Clinton …
Chris Mellor, 15 Oct 2015

AliCloud and Foxconn join forces to train Chinese startup army

Alibaba's cloud division AliCloud has hopped into bed with with Apple manufacturer Foxconn, with the intention of creating a space to breed the next generation of companies to take over the world. The investment "incubator" is intended to nurture SME and "micro" businesses by giving them access to Alibaba's cloud computing …
Kat Hall, 15 Oct 2015