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LinkedIn settles missed overtime pay case: Will pay $6m to staffers

LinkedIn has agreed to pay around $6m in unpaid overtime wages and damages to 359 of its employees in four states after a US Department of Labor investigation. The government agency found that the business networking firm had failed to record and account for all the hours their staff worked in a week, leaving some staff out of …

Oracle cold bath shrinks Larry Ellison's pay package

Oracle's Larry Ellison, one of the world’s richest men and best-paid CEOs in the US, is getting his pay cut by more than half. The database giant's chief executive has been awarded just 3 million stock options by its compensation committee in its annual review process. That’s down from 7 million the year before and every year …
Gavin Clarke, 5 Aug 2014
BlackBerry Passport

BlackBerry boss John Chen: We're FINISHED (with the job cuts)

BlackBerry has finished its long and painful restructuring process – and is even considering adding new employees. That's according to a leaked staff memo apparently sent by BlackBerry chief exec John Chen. In the file, he wrote that the process of laying off workers, which started three years ago, has now come to an end: "We …
Bus jam

EE rolls out London bus pay-by-bonk app – only fandoids need apply

Riding a London bus is about as pleasurable as trying to saddle a twitchy rhino that has decided to charge at the slightest perceived threat. But the business of bus-based travelling through an ancient city designed with horse and cart in mind might be set to get a teeny bit easier - at least for EE customers with NFC-enabled …
Jasper Hamill, 4 Aug 2014
Bill_Veghte

HP storage revenue downturn? It's just a 'kink', says exec

Analysis HP's first calendar 2014 quarter storage revenue downturn was a blip, according to the global head of its enterprise group – though analysts at IDC may not agree. Bill Veghte, exec veep and GM of HP's Enterprise Group, was speaking about the calendar Q1 numbers that co-incide with HP's second fiscal quarter. He told us the …
Chris Mellor, 1 Aug 2014
padlock

IBM snaps up identity access gatekeeper tech

IBM has snapped up privately held security software firm CrossIdeas. Financial terms of the deal, announced Thursday, were undisclosed. Rome, Italy based CrossIdeas has been developing identity access technology since 2011. Its technology allows CISOs and security teams in big companies to automatically detect conflicts in …
John Leyden, 1 Aug 2014

Insight CEO: We've found bottom line balm to soothe Microsoft pain

Microsoft’s heftiest enterprise licensing pal Insight Enterprises is now managing the biting fee reductions emanating from Redmond to such an extent that it feels enough comfort to lift bottom line forecasts for 2014. In contrast, as the reseller titan rolled out Q2 numbers showing revenues stagnation, it pulled down estimates …
Paul Kunert, 1 Aug 2014
Tesla Sport

Tesla and Panasonic to build NOT-SO-SECRET GigaFactory in US

Tesla has signed a deal with Panasonic which will see both firms collaborate on the construction of one of the world's biggest battery factory. The GigaFactory, as it's been called, will build lithium-ion batteries to satisfy an anticipated boom in demand for electric vehicles. Tesla hopes that the GigaFactory – located in Reno …
Jasper Hamill, 31 Jul 2014

Samsung faces down TAB and smartphone MOUNTAIN HORROR

Samsung has confirmed sluggish sales of smartphones and tablets combined with efforts to shift the stock mountain that cast a shadow over Europe, denting group sales and profits for calendar Q2. The Korean chaebol has been out of step with falling market demand and as exclusively revealed by The Channel back in May, Sammy UK …
Paul Kunert, 31 Jul 2014
BT Openreach van outside Comedy Pub

BT consumer biz saves day: Grr, if it weren't for that meddling Ofcom

Former state-owned telco monopoly BT reported top line declines across the majority of operations for the opening three months of its new financial year with only the consumer biz - fuelled by broadband demand - bucking the trend. Sales for Q1 ended June were two per cent adrift of revenues in the same period a year ago at £638m …
Paul Kunert, 31 Jul 2014
WD Caviar Green 2TB

Disk daddy WD dishes out more drives, but profits dip anyway

For its final fiscal 2014 quarter WD revenues were flat at $3.7bn but profits declined despite the firm having sold a greater number of disk drives. SSD sales declined compared to the previous two quarters. The increased drive demand came from PCs, gaming devices and notebooks but, unfortunately gaming and notebook drives have …
Chris Mellor, 31 Jul 2014

AVG stung as search revenue from freebie scanners dries up

Security software firm AVG net income has fallen from $24.7m in Q2 2013 to $13.7mn in Q2 2014, according to financial results out Wednesday. The profits slide is explained by the slip in revenue from $100.4m in Q2 2013 to $88m in the three months running up to 30 June 2014. AVG responded to the results by revising its outlook …
John Leyden, 31 Jul 2014
Wii U

Nintend-OH NO! Sorry, Mario – your profits are in another castle

Nintendo is reeling after it posted a $96m loss on the quarter to June 30. The Mario maker said that the quarter, its first of the fiscal year, brought total sales of 74.69bn Yen ($726m), down 8.4 per cent over last year's quarter, and a net income loss of 9.92bn Yen ($96m) compared to a 8.62bn profit last year. That eyebrow- …
Shaun Nichols, 30 Jul 2014

Shopping spree helps Arrow counter organic sales slump

Healthy organic sales growth has once again proved slippery for enterprise tech bellwether Arrow Inc to grasp, though demand for heavy duty software and hardware started to re-emerge. At group level, the tech distie reported revenues of $5.68bn, up seven per cent year-on-year as reported – but this was largely due to …
Paul Kunert, 30 Jul 2014
A hammer and bent screw

Don't Hammer Bob's backup biz: At least sales are up

CommVault, the all-singing-and-dancing data management, enterprise backup and archive company, saw its revenues rise 14 per cent in its first fiscal 2015 quarter - but its profits fell by five per cent. Despite that, it still beat Wall Street's earnings estimates. Revenues were $152.6m compared to $134.4m a year ago, while the …
Chris Mellor, 30 Jul 2014

Sing it, Systemax: 10 straight quarters plunging in a row, 10 straight quar....

Shape-shifting mega reseller Systemax has finally broken its run of top line wobbles after 10 consecutive quarters but the US titan still couldn't turn a churn out a profit in its calendar Q2. The New York Stock Exchange-listed dealer last night reported low single-digit sales growth of $831.1m, representing a rise of 1.4 per …
Paul Kunert, 30 Jul 2014
Dr Dre Beats Solo

Forgot About Dre? Not us. Euro bods give nod to Apple and Beats deal

The European Commission has given its official blessing to the $3bn acquisition by Apple of headphone manufacturer Beats. After considering whether the link-up fitted in with merger regulations, the antitrust regulators decided the two firms were sufficiently different that there was no concerns about competition. In a …
Jasper Hamill, 28 Jul 2014

Blighty will be BIGGER and BETTER than Germany, confirm beancounters

Britain's teamsters may not be setting the sporting stage alight this summer but the local tech economy is heating up as it sprints to Euro glory. Figures from Chancellor George Osborne late last week showed that overall UK economic output is some two per cent larger than pre-financial crisis levels in 2008, after rising 0.8 per …
Paul Kunert, 28 Jul 2014
twitchpokemon

Twitch rich as Google flicks $1bn hitch switch, claims snitch

Google and Twitch were tight-lipped this morning in California – amid swirling rumors that the internet goliath will formally seal a $1bn deal to buy the video-streaming upstart. Twitch spokesperson Chase (just Chase) refused to rule out the speculation, and instead gave us "no comment" when we called. Given that Twitch is a few …
Shaun Nichols, 25 Jul 2014

Feel free to BONK on the TUBE, says Transport for London

From 16 September you will be able to pay for your journey on the London Underground with your pay-by-bonk contactless card or NFC-enabled phone. This won’t come as a surprise to anyone who uses the London Underground regularly and will have heard the announcements (and seen the posters) warning people to keep their Oyster and …
Simon Rockman, 25 Jul 2014
Windows XP boot screen

The XP factor gives MEGA-DISTIE Ingram Q2 sales a boost

The tills rang often for massive global distie Ingram Micro during its second calendar quarter, helped by frenzied PC refresh activity, but squeezing out better long term profits remains a work in progress. The globe's largest distie reported a revenue hike of $600m year-on-year to $10.9bn. Despite a near six per cent leap in …
Paul Kunert, 25 Jul 2014

Come close, dear reader. Past those trees you'll see a non-Microsoft Nokia Oyj in the wild

Nokia – the Finnish networking firm, not the Microsoft division that sells low-cost mobes running Windows Phone – reported earnings for another difficult quarter on Thursday, yet showed signs that its operations are beginning to stabilize since punting its Devices and Services business off to Redmond. Net sales for the second …
Neil McAllister, 24 Jul 2014

Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales

Gigantic retailer Amazon grew sales 23 per cent, year on year, in its second quarter of 2014 – and managed to lose even more money than usual. The e-retailer and cloud giant reported an operating loss of $0.27 per share on Thursday on revenues of $19.34bn for the three-month period, compared with analyst expectations of a loss …
Jack Clark, 24 Jul 2014

Cyber-robbers hack European Central Bank's... website

The European Central Bank has written to 20,000 people to warn them their personal data may have been stolen during a huge cyber-heist. ECB said crooks had attempted to extort money from the bank after hacking into a database containing email addresses, phone numbers and addresses of people who had registered to attend events. …
Jasper Hamill, 24 Jul 2014
Ocean yacht

Batten down the hatch- ... oh. Quantum's actually close to growth

It’s Quantum quarterly results time. The temptation is to immediately think same old, same old, but is its drawn-out recovery finally becoming visible? The top-line numbers don’t show it. First quarter fiscal 2015 revenues were $128.1m, almost $20m down on the year-ago quarter and a smidge up, just $100,000, on the previous …
Chris Mellor, 24 Jul 2014
Qualcomm Atheros AR9004TB

Report: Beijing watchdog reckons chip-slinger Qualcomm has monopoly in China

Beijing’s anti-competition authority, currently midway through a probe of Qualcomm, has reportedly said it believes the chipmaker does have a monopoly in China. The chip giant has been under investigation by the National Development and Reform Commission for allegedly overcharging and abusing its market position in China, a …
Fraud image

New licence and SAP unit sale knackers Software AG's numbers

Delayed IT projects and offloading the SAP business have dealt Software AG’s business a double blow for its latest quarter. Germany’s other major software maker today reported a second-quarter revenue drop of 18 per cent to €196m ($263.9m) and net income halved to €14.2m ($19.1m). Earnings per share was also almost halved to €0 …
Gavin Clarke, 24 Jul 2014
hands waving dollar bills in the air

Facebook haters, look away now: BABY SNAP site's profit is up 138%

Facebook shares have rocketed after the social network biz reported record-setting growth, revenue and margins as it wrung cash from hundreds of millions of mobile users. The Menlo Park ads website reported second-quarter revenues of $2.910bn on Wednesday, beating the $2.81bn Wall Street analysts had been expecting, and up 61 …
Jack Clark, 23 Jul 2014
Qualcomm

Little trouble in big China: Are some of Qualcomm's chip slingers fibbing?

Mobile chipmaker Qualcomm reported solid results for the third quarter of its fiscal 2014 on Wednesday, with revenues, earnings, and chip shipments all reaching record highs. The California company saw its revenues reach $6.81bn for the three months ending on June 29, 2014, a 9 per cent year-on-year increase that handily beat …
Neil McAllister, 23 Jul 2014

Microsoft: We're making ONE TRUE WINDOWS to rule us all

+Analysis Microsoft has cracked open its annual and Q4 results, the first end of year numbers it has spat out under brevity-challenged chief executive Satya Nadella. As befitting such a results event, there was plenty of backslapping and self-congratulatory talk about how Microsoft is turning into a cloud business. But why was Microsoft’ …
Gavin Clarke, 23 Jul 2014

EMC revenues are up. But, hey Joe, I heard you shot your profits down...

EMC sold a record $5.9bn of products and services in its second 2014 quarter, representing a stately five per cent year-on-year increase in sales - and a $400m boost over the first quarter of this year. EMC’s second quarter revenues are generally higher than its first quarter. Net income was $589m, 16 per cent down on profits a …
Chris Mellor, 23 Jul 2014
linkedin logo

LinkedIn slurps B2B marketing bods Bizo for $175m

LinkedIn has slurped its second company in as many weeks, splashing out $175m on advertising firm Bizo. Last week, the professional network bought Newsle, a startup that searches the web for articles about people you know (yes, much like Google Alert), for an undisclosed amount. Bizo is a marketing firm that specialises in tech …
Confused computer keyboard

Capita: We've spent £150m on acquisitions... SHOW US the MONEY

Serial acquirer Capita IT Services reported a low-single digit revenue jump for the first half of calendar 2014, but given the numerous acquisitions made this looks to be something of a commercial damp squib. The techie arm bulked up sales by just 2.7 per cent year-on-year to £235m in the period, not including the £60m worth of …
Paul Kunert, 23 Jul 2014
Job cuts jpeg

Chips are down at Broadcom: Thousands of workers laid off

Broadcom is exiting the cellular baseband business, a decision that's has bitten hard, with the company announcing layoffs of around 2,500 employees – around 20 per cent of its total workforce – worldwide. Its latest SEC filing shows the company turned in a loss of $US1 million for the quarter, a collapse from the previous …

iPad? More like iFAD: We reveal why Apple fell into IBM's arms

Apple has been talking up its strong Mac and iOS device sales in its latest quarter – but the real news was a stonking slump in iPad numbers. The Cupertino giant said the three-month period ending June 28 was its best-ever fiscal third quarter on record. It reported revenues of $37.4bn, up six per cent year on year, which led to …
Shaun Nichols, 22 Jul 2014

How's VMware doing? Like a bull in a China shop, boasts virty beast

VMware revenues have risen 17 per cent on the back of the company signing several lucrative multi-year licensing agreements. The virtualization giant reported its second quarter of 2014 financials [PDF] on Tuesday, with revenues of $1.46bn and earnings-per-share of $0.81 both beating analyst expectations of $1.44bn and $0.79 …
Jack Clark, 22 Jul 2014
Microsoft campus

Microsoft bags more CASH – but profit's flat as Nadella waves axe

Microsoft posted solid yet unspectacular results for both the fourth quarter of its fiscal 2014 and the full fiscal year, even as investors braced for new CEO Satya Nadella to axe as many as 18,000 staffers. Revenues for the quarter beat analysts' estimates slightly at $23.38bn, a 17.5 per cent gain over the same period a year …
Neil McAllister, 22 Jul 2014

ARM: We've signed 41 new deals and we are IN to the Internet Of Stuff

ARM Holdings has dodged the impact of slowing device sales with 41 customers signing new deals to license its chip technology. The company Tuesday announced a nine-per-cent jump in second-quarter profit to £68m on revenue that climbed seventeen per cent to £187.1m. Earnings per share increased 11 per cent to £3.91. But …
Gavin Clarke, 22 Jul 2014

Huawei's turnover rockets upwards. Suck on that, US government

Execs at Chinese hardware maker Huawei are laughing all the way to the bank after reporting a healthy bounce in revenues and margins, despite being effectively blockaded by some governments in the West. The maker of telco kit, smartphones and enterprise networking gear today said that turnover for the first half of calendar '14 …
Paul Kunert, 21 Jul 2014
Apple Contact Hero shot

Financial wizardess joins Apple board, air of coolness noticeably diminishes

The founder of investment fund BlackRock has joined the Apple board of directors, perhaps giving a tantalising clue to the fruity firm's interest in entering the financial services arena. Susan L Wagner, founding partner and director of BlackRock, has replaced Bill Campbell, who was the longest-serving member of the board and …
Jasper Hamill, 18 Jul 2014
HP CEO Meg Whitman

HP CEO Meg Whitman dons TRIPLE CROWN of POWER

HP CEO and president Meg Whitman has consolidated power at the top of the corporation by taking on the role of chairman as well. The manoeuvring comes days after HP confirmed that Ralph Whitworth is to step down due to health concerns, the exact nature of which were not revealed. Whitman joined HP's board at the start of 2011 …
Paul Kunert, 18 Jul 2014

Out of Luczo, Seagate? Revenues and profits are shrinking again

Seagate chairman and CEO Steve Luczo is watching his company's revenues and profits shrink for the second year in a row – Seagate’s immense disk business business is spinning more slowly these days. For its fourth fiscal quarter, ended 27 June, revenues were $3.3bn, 3.7 per cent down on last year’s Q4 and 3 per cent down on the …
Chris Mellor, 18 Jul 2014