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Secretive Chinese smartphone maker Xiaomi gets TALKY over HUGE sales

Chinese tech giant Xiaomi racked up 74.3bn yuan ($11.97bn) in pre-tax revenue last year, the company's president Bin Lin said today. The vendor apparently had a mega 135 per cent growth spurt in 2014, after it sold more than 61 million smartphones during the 12-month period. Xiaomi's co-founder didn't offer any details on …
Team Register, 4 Jan 2015

Healthcare: Look anywhere you like for answers, just not the US

Worstall @ the Weekend A few weeks back I pointed out that the US has the second largest social welfare system in the world. This produced a certain amount of pushback (journalistic speak for me whining to El Ed that you commentards are shouting at me) over the fact that a good part of that is the woeful healthcare system in said US. So, as the New …
Tim Worstall, 4 Jan 2015
Her Majesty Queen Elizabeth II, aged 81, of the United Kingdom. Photo taken during a visit in NASA’s Goddard Space Flight Center. Greenbelt, Maryland, USA

No wind-up: Second New Year's honour for Baylis music box

Former co-founder of Lastminute.com Brent Hoberman and inventor of the wind-up radio Trevor Baylis were two names in just a handful of science and tech folk to be handed gongs in the 2015 New Year's honours list. Both were awarded Commander of the Order of the British Empire, the second shiny medal for Baylis after receiving an …
Kat Hall, 31 Dec 2014

Really, govt tech profit cash grab is a PRIZE-WINNING idea?

Worstall on Wednesday So, that favourite of mine and of Andrew Orlowski, Mariana Mazzucato, has been awarded a prize by the New Statesman in the field of political economy. Given that her message is that government should be getting more of the pie, that's the sort of political economy you would expect the magazine to like. However, I find there's a …
Tim Worstall, 31 Dec 2014
Apple phone payement.

UK banks prepare for Apple Pay 'invasion', look to slap on bonking protection

Analysis Apple's attempt to launch its NFC payment solution in the UK could be thwarted by some financial institutions' concerns over privacy and security issues surrounding Cupertino's "invasion" of the banking industry. The system, which has been developed with the credit card companies, has been tried by two million iPhone 6 users in …
Simon Rockman, 30 Dec 2014
SEC

US tech titan CSC slapped with $190m penalty

IT giant CSC has been slapped with a $190m (£122m) penalty by US regulator the Securities and Exchange Commission following a probe into the firm's accounting practices. The investigation was opened in 2011, mainly into the firm's European outsourcing unit - including revenue from its troubled NHS contract negotiations between …
Kat Hall, 30 Dec 2014
xiaomi Mi Wi-Fi router

'Apple of China' Xiaomi: Yep, we HAVE just bagged $1.1 BEELLION

Top Chinese mobile phone manufacturer Xiaomi has confirmed reports that it has raised $1.1bn to fund its plans for world domination. In a Facebook Post, president and co-founder Bin Lin said: We just completed the latest round of funding last week, raising US$1.1 billion at valuation of US$45 billion. Investors include All- …
Simon Rockman, 29 Dec 2014
President Putin doing judo

Why has the Russian economy plunged SO SUDDENLY into the toilet?

Worstall @Xmas The best economic fun of the past few weeks has been watching the meltdown of the rouble and the associated problems in the Russian economy. OK, “fun” might not be quite the right word: schadenfreude, perhaps? Real people are undoubtedly, through no fault of their own, being made worse off by what is happening - so fun is almost …
Tim Worstall, 28 Dec 2014
BlackBerry

BlackBerry CEO Chen says to expect profits ... in 2016

In a conference call with financial analysts on Friday, BlackBerry CEO John Chen said the firm kept costs under control and even eked out a meager profit in the third quarter of its fiscal 2015, but he couldn't hide that the ailing mobe-maker's revenues continued their steady decline. BlackBerry brought in revenues of $793m for …
Neil McAllister, 19 Dec 2014
Red Hat Enterprise Linux

Red Hat CFO reaches for eject cord after Street-beating performance

Red Hat chief financial officer Charlie Peters announced on Wednesday that he's stepping down from the company, even as it reported another quarter of strong earnings that beat even its own guidance. The Linux kingpin reported $455.9m in total revenues for the third quarter of its fiscal 2015, which outperformed Wall Street's …
Neil McAllister, 19 Dec 2014
Mark Hurd and Safra Catz

Hurd'n'Catz leading Oracle to the cloud, but core biz still lags

Oracle beat analysts' estimates for once for the second quarter of its fiscal 2015, with an earnings report that otherwise showed only modest results. The database giant's total revenues of $9.6bn for the three months that ended on November 30 were better than expected, but still only amounted to 3.5 per cent year-on-year growth …
Neil McAllister, 18 Dec 2014

HOW MUCH did WD pay for Skyera? Join the dots, work it out

Comment We at El Reg suggested yesterday, Monday, that WD paid up to $400m for the all-flash array upstart, but WD has since mailed us to say that's wrong. Jim Pascoe, WD's corporate marketing director, told us: "You estimated that Skyera had secured $90m-$100m of funding following on from seed finance. In fact, the total amount Skyera …
Chris Mellor, 17 Dec 2014
Monty Python Wafer Thin Mints

Secretive Chinese smartmobe colossus Xiaomi is on WAFER thin margins

Chinese smartphone giant Xiaomi is operating on the thinnest of margins to keep its handset prices low, according to a filing with the Shenzhen Stock Exchange. The Chinese phone-maker, that’s creeping up on Western manufacturers, made a profit of $56.2m on $4.3bn in revenue last year. That gives the firm operating margins of …

Deprivation Britain: 1930s all over again? Codswallop!

Worstall @ the Weekend When cruising The Guardian for a fix of poverty porn, as I tend to do from time to time, I'm frequently amused by what some people will believe about the subject. This time I have to admit to having been amazed. For we've the flat-out assertion that we're about to be back in the 1930s. In some ways this might even be true: there …
Tim Worstall, 14 Dec 2014
Uber - living the dream

How was your week? Was it as bad as Uber's? Here's what happened

You ever have one of those weeks where nothing seems to go right? Maybe the train runs late in the rain. Or the lace on your boot breaks as you're walking out the door. Or maybe four major cities across the planet line up to sue you. Yeah, Uber just had a week like that – just days after it was injected with $1.2bn of funding, …
Shaun Nichols, 13 Dec 2014

Cisco: Think we're a lawsuit-hurling villain? 'Complete garbage'

Anyone that paints Cisco as a sueball-slinging bully boy that flexes its legal eagles to stem rivals' innovation is talking “complete garbage”, or so says its president of development and sales. The denial comes after Cisco last week filed several lawsuits in the US to "stop" Arista's "repeated and pervasive copying of key …
Paul Kunert, 12 Dec 2014
Money image

NASA's British cloudy collab provider scores $51m from VCs

Cloudy storage and collaboration service provider Huddle has trousered millions more cash from vulture venture capitalists to spend on biz development on both sides of the Atlantic. The UK-based outfit, started by CEO Alastair Mitchell in 2007, last night took home a $51m Series D round of funding, valuing the business at …
Paul Kunert, 12 Dec 2014

Storage firm Box: We're BIG enough... to FLOAT

Market concerns over the delayed public offering of personal cloud content manager Box could be easing, after it filed updated IPO documents showing reduced losses during a nine-month period in its fiscal 2015 year. The offering, with the S1 document filed in March, was delayed initially as players saw the growing losses as …
Chris Mellor, 11 Dec 2014
HockeyApp + Microsoft logos

Microsoft shells out the pucks for analytics firm HockeyApp

Microsoft has acquired HockeyApp, a service for testing and analysing apps in development for iOS, Android, Windows Phone and Mac OS, for an undisclosed amount. The Stuttgart-based team launched HockeyApp in 2011. Using the service, developers can deploy preview apps to testers, get feedback, analyse crash reports, and view …
Tim Anderson, 11 Dec 2014

Microsoft BEATS Apple, Google ... to accepting limited Bitcoin payments

Microsoft has quietly added Bitcoin as a payment method for digital content - games and music - thanks to a deal with Bitpay that allows customers to use the cryptocurrency to add money to their MS account. Trouble is, the synthetic dosh still can't be used to pay for physical goods directly, and initially at least, it's Bitcoin …
Lindsay Dodgson, 11 Dec 2014

Daisy Group asks exec newbie to deliver managed services glory

Beefing up the tech supply and ICT managed services side of the house will be the major tasks handed to Daisy Group’s incoming CEO Neil Muller. As exclusively revealed by The Channel, Muller is set to take the reins of mid-market telco-come-IT-supplier Daisy from next year when the business is taken private again, and once he …
Paul Kunert, 11 Dec 2014

Tech Data jumps into Dell's corporate hot tub

Dell is finally falling for the charms of the largest volume disties after signing up Tech Data in parts of mainland Europe ahead of extending the deal to Blighty from next month, or so say multiple sources. The one-time direct selling purist did the distie dance with Ingram across the region earlier this year, and got jiggy …
Paul Kunert, 10 Dec 2014
Downing Street road sign

Firms will have to report OWN diverted profits under 'Google Tax' law

Under the so-called "Google tax" regime due to come in next year, multi-nationals will have to "self-report" any diverted profits to HMRC and then defend their own activities, according to draft legislation on the Diverted Profits Tax published today. Last week chancellor George Osborne pledged to slap a 25 per cent tax on …
Kat Hall, 10 Dec 2014

Pricey buys pay off for shape-shifting Alternative Networks

Revving up the acquisition engine got previously misfiring B2B comms and tech outfit Alternative Networks' top line motoring again, but some resulting cost hikes dampened the bottom line. The AIM-listed firm reported a 20 per cent sales bounce to £137.8m for the year ended September, and it returned to organic growth, albeit at …
Paul Kunert, 10 Dec 2014

Uber? Worth $40 BEEELLION? Hey, actually, hold on ...

Worstall on Wednesday The latest fundraising for Uber seems to peg the value just north of $40 billion. Which is, when you think about it, quite a hefty sum for what is, after all, just a registry of hireable people with cars. Sure, we're talking 50 countries now, 250 cities, but it's still about taxi rides. And it's a competitive market. There're …
Tim Worstall, 10 Dec 2014
Reckless Getaway

Osborne ponders giving fleeing bank customers an API getaway car

Banks will have to use standardised application programming interfaces (APIs) to make it easier for customers to move their accounts to rival services, the British government has said. In his Autumn Statement last week, Chancellor George Osborne announced that the government would launch a "call for evidence" on "how to deliver …
OUT-LAW.COM, 8 Dec 2014
NFC tag with Bluetooth connectivity

18 million iPHONE USERS HAVE NEVER BONKED to ApplePay

+Comment Oh, what a surprise. NFC has failed to ignite the imagination of iPhone users, with 90 per cent of them shunning the payment method of the future. This is among the findings of stats-loving website InfoScout, which reports that of the approximately 20 million or so iPhone 6s which have been sold, 18 million have never been used …
Simon Rockman, 8 Dec 2014

Which country has 2nd largest social welfare system in the world?

Worstall @ the Weekend The general impression we've all got is that the US is a place where the poor are simply left to starve in the gutter, unlike in soft and cuddly Europe, where we do our best to help our fellow man. That the political mantras shouted at us to keep us coughing up to pay for these welfare states might not be wholly and entirely …
Tim Worstall, 7 Dec 2014

IBM's ownership of x86 biz comes to a bloody end

Lenovo execs must be counting down the days before they can grab the System x business from IBM across Europe as it continues to disproportionately bleed unit sales and revenues in a tough market. Gartner Q3 EMEA market stats show recovery in the prior three months was nothing but a flash in the pan: shipments fell four per cent …
Paul Kunert, 4 Dec 2014
Sonos Sub

Sonos rattles begging bowl, hopes for $130m cash stream

Sonos, the Wi-Fi speaker streaming firm, is looking to raise $130m from investors, according to a filing with the US Securities and Exchange Commission. The filing doc doesn't say what the cash is for and Sonos isn't saying either. It's facing increased competition as Bose and other mainstream speaker suppliers jump on the Wi-Fi …
Chris Mellor, 4 Dec 2014

Oh dear, traders: Banker bosses are monitoring your smoke breaks

Banks must consider staff relations when turning to "big data" to identify potential misconduct, says an expert. There are legitimate reasons why banks would wish to monitor staff behaviour through the latest in 'big data' analytics, but they should consider employee relations issues before using that technology, an expert has …
OUT-LAW.COM, 4 Dec 2014
Microsoft CEO Satya Nadella

Microsoft shareholders approve of CEO Satya Nadella's MASSIVE PACKAGE

A revolt by shareholders at Microsoft's annual general meeting over CEO Satya Nadella wages failed to materialize today – and his executive pay package was approved. Company advisory firm Institutional Shareholder Services said it had significant concerns over the size of Nadella's package, which it estimated was worth over $90m …
Iain Thomson, 3 Dec 2014

Gorilla Glass maker gobbles Samsung's fibre optic biz

Samsung is selling off its fibre optics business to US smartphone glass supplier Corning, including production facilities in China and South Korea. Naturally, the companies didn’t share the terms of the deal, but Corning said it expected to complete the acquisition in by the end of the first quarter next year. Corning, which is …
channel_teaser_money_top

Brits conned out of nearly £24m in phone scams IN ONE YEAR

Brits have lost three times as much money in phone scams in the last year than they did the year before, according to Financial Fraud Action UK. The organisation, which works with consumers, retailers and the police as well as the financial services industry, said that 58 per cent of people said they’d received suspect calls, up …

Hortonworks falls well short of billion dollar IPO expectations

Open source supremo Hortonworks has announced a rather lacklustre IPO, falling miles short of the billion dollar valuation big data tycoons were hoping for. It hopes to raise $78m by flogging six million shares at a cost of between $12 to $14, which roughly works out to a disappointing market valuation of $659m. Hortonworks …
Jasper Hamill, 2 Dec 2014
IBM PC 5150

IBM bags multi-billion dollar outsourcing deal with ABN AMRO

IBM has bagged a multi-billion dollar 10-year deal with Dutch bank ABN AMRO, the second major European outsourcing win for the company in the last month. The deal is likely to bring cheer to Big Blue, following its recent "disappointing" third-quarter results. The deal includes a private IBM cloud, mobile computing, managed …
Kat Hall, 1 Dec 2014

Juniper whips out knife, slices off security products

Months after Juniper Networks confirmed the prioritisation of revenue-generating projects, the firm has quietly dumped several security products, causing upset to some of its nearest and dearest in the channel. Following a “disappointing” set of calendar Q3 financials, Juniper’s then CEO, Shaygan Kheradpir, said it was cutting …
Paul Kunert, 1 Dec 2014
Intel Penang exterior

Intel buys Canadian ID-wrangler PasswordBox

Chip giant Intel has acquired Canadian identity management company PasswordBox, apparently in a move to address the issue of "password fatigue". The 44-strong company was formed 18 months ago in June 2013 and has 14 million users. This year Intel phased out its McAfee brand, which it bought in August 2010 for $7.6bn, in favour …
Kat Hall, 1 Dec 2014
Lee_Westwood_bunker

HP's converged storage 'growth engine' stalls

HP's newer, converged storage offerings are selling less well than they did a year ago. In the storage golf tournament, HP has hit bogeys instead of a birdy for the latest hole. The company divides its storage into the traditional EVA, MSA, etc and newer converged storage, such as the StorServe 3PAR products. It provides revenue …
Chris Mellor, 27 Nov 2014
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'Watson AI, cloud, mobile', says payments firm, trousering £49m

Mobile payments company Monitise has raised £49m via partners Telefonica, Santander and MasterCard to invest in global payments tech. The company said it will use IBM's cognitive computing engine, Watson, to support its "cloud-based mobile commerce" applications, which it intends to flog to businesses across the world. Monitise …
Kat Hall, 27 Nov 2014
Candy Crush Saga

Candy Crush King king resigns for 'personal reasons'

The chairman of Candy Crush-maker King has quit as the head of the firm and stepped down from the board for “personal reasons”, the company said. Melvyn Morris, who is also the firm’s second-largest shareholder, has taken a leave of absence with immediate effect, leaving fellow board member Gerhard Florin to take over as chair …

Home Depot hacker hosing cost a wallet-draining $43m (so far)

Hacked hardware mart Home Depot has forked out $43m to quash spot fires emanating from the data breach inferno this year, SEC filing documents show. The payout covered damages from the theft of 56 million payment cards and 53 million email addresses. It covered the cost of investigating this year's five-month-long breach, …
Darren Pauli, 27 Nov 2014