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Borked Bitcoin bunker MtGox in administration: Lawyer seizes control

Collapsed Bitcoin exchange MtGox has been put into administration by a court in Japan, where the website is based, after it became clear the site's chances of recovery are nil. The biz, which has mislaid half a billion dollars of BTC, was granted protection from creditors in February by the Tokyo District Court as it battled to …

Intel sees 'signs of improvement in the PC business' but earnings remain 'Meh...'

Intel has posted its financial results for its first quarter of fiscal 2014 that were either marginally lower or higher than analysts' estimates, depending upon which analysts you trust. Chipzilla reported revenues of $12.8bn for the quarter, with net income of $1.9bn and the all-important earnings per share (EPS) coming in at $ …
Rik Myslewski, 15 Apr 2014

Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED

Apple again dominated all Silicon Valley competition in 2013, so much so that in the San Jose Mercury News' SV150 annual ranking, it raked in more revenue than numbers two and three combined, and more profits than the four below it, taken together. List of the top 15 companies in the San Jose Mercury News SV150 The top 15 …
Rik Myslewski, 14 Apr 2014

Gnome Foundation runs out of cash

The Gnome Foundation, overseer of the Gnome user interface, has run out of cash. The news isn't entirely bad: the Foundation says one of the programs it runs, the “Outreach Program for Women (OPW) … has proven to be extremely popular”. OPW engages interns who Gnome must pay on a regular schedule. But “incoming payments from …
Simon Sharwood, 13 Apr 2014

Apple has THREE TIMES as much cash as US govt, TWICE the UK

Apple has three times as much cash on hand as The US government, and over twice as much as the UK. These figures come to us from the Bank of America's wealth-management arm, US Trust, as reported by London's Telegraph. In its most recent quarterly SEC filing, Apple reported that it had $158.8bn (£94.9bn) in cash and cash …
Rik Myslewski, 11 Apr 2014

Icahn, but Iwont: Carl the investor pest ends war with eBay

Carl Icahn has finally made peace with eBay after withdrawing his call for the auction site to divorce from its partner Paypal. The meddlesome investor has spent the last few months rudely demanding the spin off of eBay's payment service and asking for two of his aides to be put on the firm's board. After a barrage of open …
Jasper Hamill, 11 Apr 2014
Grannote fujitsu laptop notebook elderly old users

Apple to flush '£37bn' down the bog if it doesn't flog cheapo slabtops

A senior JPMorgan analyst has urged Apple to seize a $63bn (£37bn) opportunity by flogging a hybrid laptop-tablet device running iOS. Equity research analyst Rod Hall said the fruity firm was missing out on a huge market by failing to produce a cheap-ish mongrel laptop priced between $500 and $1,000 (£300 and £600). The …
Jasper Hamill, 10 Apr 2014
Stock ticker board

No, we're not in an IT 'stockapoclyse' – boom (and bust) is exactly what tech world needs

Is this the stockapoclyse, as tech shares crater into the ground and no more money gets invested into the sector? Or is that 20 per cent fall in the largest internet-based companies – Netflix, Flicker and Twitter – that $275bn drop in collective value over the last month, just an overdue correction to recent price run ups? Well …
Tim Worstall, 9 Apr 2014

British Gas applies to wind up UK colo outfit Alphadex

British Gas has filed a petition to wind up UK colocation outfit Alphadex. It's the second time Alphadex has found itself in trouble in recent weeks. In early March it experienced significant outages, drawing understandable ire from its users. The company has since explained the incident as having been caused by “unsecured …

Symantec scratches head over balance sheet, calls in JPMorgan

Reports say Symantec, struggling to reverse a revenue slowdown, has called in JPMorgan Chase & Co. to look at its options and help fend off activist shareholders. Symantec is a $6.7bn/year revenue company that is struggling to lift its earnings. The last quarterly report made that abundantly clear. It fired its CEO Steve …
Chris Mellor, 7 Apr 2014
lifebelt

Overland Storage in fiendish reverse stock split share value ploy

Overland Storage, the troubled tape and low-end scale-out disk array storage vendor, is wanting to do a reverse stock split to get its share price up above the Nasdaq exit level. This is revealed in an SEC Form-8K filing by Overland. It states: "On April 3, 2014, the Board of Directors of the Company approved a one-for-five (1- …
Chris Mellor, 4 Apr 2014

Siri set to rival Windows beauty Cortana after Apple eats Novauris

Apple's personal assistant Siri is more than two years old, so you'd think it was high time for its parents to cut the umbilical cord. Now, however, fanbois' need to keep their fruity friend permanently connected to the internet could be ending after Apple bought a British firm called Novauris, which specialises in voice …
Jasper Hamill, 4 Apr 2014
Puss considers how to respond to PayPal marketing overtures

'Bank couriers' who stole money from OAP cancer sufferer jailed

Two men have been jailed following their conviction for running a series of courier fraud scams in south London, Surrey and Sussex. Shaun Moore, 22, of no fixed abode and Jevon Grant, 20, of Croydon were sentenced to 18 months imprisonment and two years in a young offenders' institution, respectively. Both pleaded guilty to …
John Leyden, 3 Apr 2014

Hey, Michael Lewis: Stop DEMONISING Wall Street’s SUPERHUMAN high-speed trading

Yesterday's energetic debate on CNBC between BATS Global Markets president William O'Brien and Flash Boys author Michael Lewis and IEX's Brad Katsuyama put the cat among the pigeons over high-frequency trading. It was all provoked by Moneyball writer Lewis' new book, Flash Boys, which, among other things, makes the claim that …
Tim Worstall, 2 Apr 2014

UK regulators: We will be CHECKING UP on banks' IT systems

UK regulators are to conduct a review later this year on how banks and building societies are managing the risk of IT outages affecting their business. Details of the review were contained in the Financial Conduct Authority's (FCA's) new business plan (52-page/4.56MB PDF). The FCA will undertake the review together with the Bank …
OUT-LAW.COM, 2 Apr 2014

MtGox boss Karpeles ordered to Dallas to face bankruptcy probe

MtGox CEO Mark Karpeles has been ordered by a judge to return to the US to face questions over his bankruptcy filing with a Dallas court and how 750,000 Bitcoins went AWOL. Bankruptcy judge Stacey Jernigan ruled that Karpeles must appear at the Dallas office of his lawyers Baker & McKenzie on 17th April. This is ahead of a May …

BT merges iNet and Engage IT divisions under one roof

BT has slapped together the IT Engage and iNet businesses from today, April Fools' Day, but the move is no laughing matter for staff put at risk of redundancy. The telco had merged the dabs, Business Direct and Engage IT operations back in 2011, plonking long-serving exec John Thornhill into the boss seat to oversee integration …
Paul Kunert, 1 Apr 2014

Capita splashes £80m on network biz Updata

Capita has coughed an eye-watering £80m in cash for fellow Public Services Network (PSN) provider Updata, as El Chan predicted months ago. The pair are already well known to each other: they have an alliance in Scotland and linked arms on contracts including the recent Scottish WAN project valued at £325m over nine years. As …
Paul Kunert, 1 Apr 2014

Yahoo! keen! to! slurp! news! video! distie! site!

Yahoo! is reportedly chatting up the folks at online video service News Distribution Network for a potential acquisition worth $300m. Sources whispered to the Wall Street Journal that the Purple Palace is in talks to slurp NDN for around $300m, although the negotiations are only in the early stages so they could still fall apart …
apothekerCHANGES2

HP settles lawsuit after Mad Leo's WebOS and PC biz shenanigans

HP has agreed to pay $57m to shareholders miffed by the management of Leo Apotheker. This comes after the plaintiffs sued the firm for defrauding them by abandoning its business model. The investors launched a class action suit after former chief Apotheker shocked them, and the rest of the tech world, by announcing plans in …
Huawei campus Shenzhen

Huawei rakes in £2 BEEELLION in profits

Chinese tech success story and NSA spy target Huawei has seen profits jump by a third over the past year to 21 billion yuan (£2bn) on the back of strong growth from its enterprise and consumer businesses. The Shenzhen-headquartered firm cemented its place as one of the Middle Kingdom’s most internationally successful technology …

Bechtolsheim's baby Arista Networks heads toward IPO

Networking startup Arista Networks is filing for an IPO as the scrappy biz tries to wrestle share away from incumbents like Cisco and Juniper. The profitable upstart filed its S-1 form with the US Securities and Exchange Commission on Monday. Arista Networks' chairman is Andy Bechtolsheim, the co-founder of Sun Microsystems. …
Jack Clark, 31 Mar 2014
Hadoop Elephant

Don't touch my trunk! Intel is $740m lighter after Cloudera cash shot

Intel has shoveled $740m into Hadoop company Cloudera, giving the chipmaker an 18 per cent stake in the data analysis firm. The mammoth funding was announced on Monday following the news last week of a major strategic partnership between the x86 goliath and the software upstart, which itself followed a separate funding round of …
Jack Clark, 31 Mar 2014

Newsnight goes sour on Tech City miracle

+Sketch BBC's Newsnight decided to get a reality check on Britain's economic miracle of East London's "Tech City Cluster" on Friday, and asked me if I'd like to contribute. With a hangover and not much sleep the night before? Of course I would. Radio 4's Today and BBC2's Newsnight are invitations you don't turn down if you think you've …
Andrew Orlowski, 31 Mar 2014
Blackberry_bold_9000_all_sides

BlackBerry revenue slips below $1bn as users shun BB10

BlackBerry's revenue slipped below a billion dollars in the fourth fiscal quarter for the first time since 2007, as its smartphone sales continued to slide, but its losses were slightly less than expected. The ailing Canadian firm reported a net loss of nearly $6bn for the year up to the start of March and a loss of $423m for …
78rpm records

Pop music, tech bubble... what could go wrong? Spotify said to be closer to IPO

Spotify could be making its much-rumoured market debut as soon as six months from now, after reportedly starting talks with investment banks for an IPO. Those chatty sources "familiar with the process" told Quartz that the music streaming service was considering going public in autumn this year. The report adds fuel to a well- …
balaclava_thief_burglar

SEC mulls how to save markets from hackers: How about a CRACK TEAM... of advisers?

The Securities and Exchange Commission (SEC) invited security and finance experts to Washington yesterday to discuss cybersecurity issues and whether companies and stock markets should be required to immediately disclose attacks and invest in protecting their systems. SEC commissioner Luis Aguilar said that the agency needed to …

Terminator-maker 'Cyberdyne Inc' lists on Tokyo stock exchange

El Reg readers of a more fatalistic disposition may be dismayed, but probably not surprised, to hear that Cyberdyne - the company that invented Skynet and ultimately the murderous "Terminator" machines - has just listed on the Tokyo stock exchange. Of course, it’s not the shadowy defence firm of the iconic Arnie films, which …
Phil Muncaster, 27 Mar 2014
Candy Crush Saga

Candy Crush King sees IPO go sour as stock price heads south

Mobile games firm King Digital failed to take the stock market by storm Wednesday as the firm's initial public offering (IPO) saw its stock price decline by more than 15 per cent at close of trading. The company made famous for its Candy Crush mobile game had been seeking a valuation of roughly $7bn wen it offered its shares on …
Shaun Nichols, 27 Mar 2014
A shiny new cash point

Forget sledgehammers – crooks can CRACK ATMs with a TEXT

Mexican cybercrooks are targeting bank ATMs with malware that can be activated by a SMS message that forces compromised cash machines to spew out cash. The attack is a refinement on previous assaults using the Ploutus backdoor strain of malware that makes robbing cash machines even easier for local banditos, according to net …
John Leyden, 26 Mar 2014

GSMA: EU net neutrality reforms are the enemy of business

Proposed reforms designed to ensure net neutrality across the European Union will hinder innovation to the detriment of businesses and consumers, according to a leading global mobile operators' association. The GSMA, which represents almost 800 mobile operators worldwide, said that EU proposals to prevent internet service …
OUT-LAW.COM, 25 Mar 2014
Kim Dotcom

Dotcom's Mega looks for a backdoor onto NZ stock exchange

Kim Dotcom’s cloud storage business Mega Ltd has announced plans to go public with a NZ$210 million (£109m) backdoor listing on the New Zealand stock exchange, which will open the firm up to a whole new level of scrutiny. Backdoor listings are usually enacted by smaller firms looking to go public without the cost and hassle of …
Phil Muncaster, 25 Mar 2014
padlock

Palo Alto Networks splashes $US200 million on Cyvera

Palo Alto Networks has announced that it's buying Tel Aviv-based Cyvera for $US200 million, including $US88 million in cash. The attraction is the Israeli company's TRAPS (Targeted Remote Attack Prevention System), an endpoint protection system for Windows machines, which PAN will add to its existing firewall and cloud security …
wall_street

Box shock stock doc clocks 250 million bucks

Box has filed its hotly anticipated initial public offering (IPO) paperwork to the US Securities and Exchange Commission (SEC). The upstart's S-1 document was published this afternoon, US West Coast time, putting in motion its stock market debut. Box, which provides online file-sharing for businesses, wants to raise $250m from …
Shaun Nichols, 24 Mar 2014
Broke - empty pockets

Miserly investors toss $11m at storage upstart Amplidata

Is this thin investment provisioning in action? Object storage startup Amplidata has had $11m chucked at it to grow the business – a relatively trifling amount. Amplidata develops and sells the AmpliStor object storage product, which is OEMed as Lattus by Quantum. It uses a component of its StorNext multi-tier file …
Chris Mellor, 24 Mar 2014
First official pic of Ashton Kutcher as Steve Jobs

Zuckerberg, Musk and Fake Steve Jobs invest in secretive AI firm

Elon Musk and Mark Zuckerberg have become some of the latest investors in secretive artificial intelligence software firm Vicarious. The SpaceX billionaire and the Facebook founder took part in a $40m funding round, the second major cash-raising from the firm in the last two years, the Wall Street Journal reported. The actor who …
New York City's Manhattan skyline

Airbnb might get $10bn price tag ... despite its legal woes

Airbnb, the online home-rental marketplace, is in talks to raise funding from private equity firms that would value the company at a sturdy $10bn. New York City's Manhattan skyline Those kind of valuations are par for the course for today's net startups really, but it's still a strong vote of confidence for a company that's …
Padmasree Warrior

Sync'n'sharers Box snaffle Cisco's Warrior CTO .... IPO time?

File sync'n'sharer Box has recruited a big hitter to its board: Cisco’s chief technology officer. Padmasree Warrior, the capable chief technology and strategy officer for Cisco, is becoming a director at Box, where the CEO is co-founder Aaron Levie, and the goal is, we understand, an IPO. She will be the second independent …
Chris Mellor, 21 Mar 2014
closed_sign shut down under collapsed liquidation

Ad-funded mobile carrier goes titsup

OVIVO, a mobile virtual network operator that did not charge for calls, SMS or data, has suddenly closed its doors. The carrier has pulled down almost all of its site, save for a home page stating “We are very sad to announce that for reasons beyond our control, OVIVO Mobile is closing down on the evening of Wednesday 19th March …
Simon Sharwood, 20 Mar 2014
Elephant

Cloudera bags $160m from Google Ventures and Mike Dell

Cloudy startup Cloudera has raised $160m from top investors including T Rowe Price and Google Ventures in its latest funding round to expand further into the big data market. "Cloudera will use the funding to further drive the enterprise adoption of and innovation in Hadoop and promote the enterprise data hub (EDH) market, …
wall_street

Oracle takes an arrow to the EPS: It's that darned strong dollar... again

Oracle is claiming a $9.3bn haul of revenues, up 4 per cent year-on-year, in its third quarter of fiscal 2014 – but that fell short of Wall Street analyst earnings expectations. The company said that on the quarter it saw GAAP earnings per share of $.56, up 8 per cent and just short of the projected 10 per cent increase. Overall …
Shaun Nichols, 19 Mar 2014

MtGox allows users to see a picture of their money, but not have it

Bitcoin exchange MtGox has finally allowed thousands of concerned customers to view their balances, but not to withdraw the digital funny money. On its website, MtGox said it would let users look at their accounts as long as they were happy not to touch. "This balance confirmation service is provided on this site only for the …
Jasper Hamill, 18 Mar 2014