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Intel treads water despite drowning PC biz clinging to Chipzilla's legs

Intel beat analyst expectations on sales and missed on earnings as the world's largest chip designer had trouble tacking into the winds of change that are reshaping the world's tech market. Full-year revenues in 2013 were $52.7bn, with a gross margin of 59.8 per cent, down slightly on $53.3bn and 62.1 per cent a year ago. Net …
Jack Clark, 16 Jan 2014
Huawei Shenzhen headquarters

Huawei dismisses NSA backdoor claims as profits soar

It’s been a mixed week for Chinese telecoms giant Huawei after the firm announced impressive financials but was forced again to deny allegations of security weaknesses in its products. The device and telecoms kit maker announced its unaudited financials on Wednesday, claiming sales revenue for 2013 will reach between 238 billion …
Phil Muncaster, 16 Jan 2014

Wells Fargo gathers bank 'n' gov bigwigs to discuss Bitcoin 'rules'

America's biggest bank, Wells Fargo, has called together finance execs, virtual currency experts and US government officials to talk about the "rules of engagement" when it comes to virtual money Bitcoin. The bank's anti-money laundering chief, Jim Richards, has started a group to investigate potential Bitcoin services or …
Another way to pay with your mobile phone

Five UK banks sign up to hook up customers' ACCOUNTS to their MOBILE DEVICES

+Comment British banks HSBC, First Direct, Nationwide, Santander and Metro Bank have all signed up to Zapp's mobile payment system, allowing their customers to pay using a tablet or smartphone. The announcement comes just days after O2 snapped shut its Wallet service. The five banking firms together provide services to around 18 million …
Simon Rockman, 15 Jan 2014

Telstra flogs phone books to Platinum Equity

Mere days after Telstra was rumoured to be selling its Sensis directory division for “as much as $AU3 billion” the carrier has closed the deal for the fire-sale price of $AU450 million. The sale puts 70 per cent of Sensis in the hands of US private equity firm Platinum Equity – putting a total valuation on the division at around …
Santa Claus on his laptop

Nearly 1 in 5 of UK's Xmas gifts were bought online... not that it helped

A record number of Blighty's shoppers were browsing and buying online for Christmas, but their frenzied clicking wasn't enough to lift total retail sales by even a single per cent, the British Retail Consortium said. According to a BRC and KPMG survey, nearly one in five of all retail stuff bought was picked up from the comfort …

Fairfax shovels another $250m into buying BlackBerry debt

BlackBerry backer Fairfax Financial is set to buy another $250m of its convertible debentures, which should give the ailing mobile firm a much-needed shot in the arm. The companies said that Fairfax's generosity was part of an additional debenture option as part of BlackBerry's successful placement of $1bn worth of debentures …
money notes lifted up

Indecent proposal: Hedge fund makes 'unsolicited' bid for Riverbed

An unwanted bid to take over WAN optimiser Riverbed for $3.1bn has been mounted by hedge fund Elliott Associates. Reg readers may be aware of Elliott from its activist, management-agitating attacks against incumbent management at Emulex, Compuware, Brocade and NetApp. Elliott, run by billionaire Paul Singer, looks for companies …
Chris Mellor, 9 Jan 2014
Cnidaria jellyfish

Twitter co-founder wraps tentacles around Q&A market, squirts out Jelly

Twitter co-founder Biz Stone launched a search app dubbed Jelly on Tuesday that he hopes will conquer the already packed-like-sardines online Q&A market. The concept behind the app appears to rely on Facebook and Twitter hive minds. Stone stopped short of calling it that, however, preferring instead to say that "Jelly is …
Kelly Fiveash, 8 Jan 2014
Samsung Galaxy Note 2

Samsung: Ta-da! We made $7.8bn. What do you mean you expected another BILLION?

Samsung Electronics has missed analysts' estimates of its operating profit for the fourth quarter of last year, after a one-off special bonus for employees and slowing demand for high-end smartphones. The company said that its guidance ahead of the full results on January 24 put operating profit at 8.3 trillion won ($7.8bn, £4. …
Monster Beats Pro

HTC Beats off loss, but shares slip after disappointing quarter

HTC saw its shares slip 3.61 per cent in Taiwan as it narrowly avoided a quarterly loss, saved only by booking a profit from selling its stake in headphone brand Beats Electronics. The Taiwanese smartphone maker reported a worse-than-expected net profit yesterday, of just $300m ($10m) compared to a net loss in the previous …
Bill Gates as Austin Powers

Ghosts of Ballmer and Gates haunt Microsoft CEO job hunters

Candidates for the next Microsoft CEO’s post are reportedly perturbed by the fact they could have Steve Ballmer and Bill Gates looking over their shoulder. The Wall Street Journal reports “at least some” of the external executives “have expressed concerns about being hamstrung” if the duo continue on the board. According to one …
Gavin Clarke, 7 Jan 2014

Bitcoin blasts past $1,000 AGAIN after Zynga accepts cryptocurrency

How better to pay for virtual real estate than with virtual money? The price of Bitcoins has risen beyond the thousand-dollar mark again after games-maker Zynga announced it would trial the e-currency for in-game purchases. At the time of writing, a Bitcoin was worth $1,062.30 on the Mt.Gox online exchange, one of the major …
Bill Gates

Bill Gates is once again the richest man on Earth

Ex-Microsoftie Bill Gates is the richest man on the planet once more, having wrested the title back from Mexican telecoms tycoon Carlos Slim with a cool $78.5bn. Just to put that in perspective, Gates is worth more than Rupert Murdoch's News Corp, web tat bazaar eBay or credit card moguls American Express by the end of 2013, as …
Kanye West

Jokesters develop new cryptocurrency using Kanye West's FACE

Kanye West and his pneumatic wife Kim Kardashian have plenty of real cash, but no bank has yet considered putting their faces on a banknote. But that's about to change with the release of a brand new cryptocurrency called CoinYe West which is themed around the famously braggadocious rapper. It may not be strictly legal tender, …
Jasper Hamill, 3 Jan 2014
Apple CEO Tim Cook on the cover of Bloomberg Businessweek

You're spending WHAT on iPhone 6? Wells Fargo downgrades Apple stock

Analysts at Wells Fargo have downgraded their outlook on Apple shares for this year, taking it down from "outperform" to "market perform". A report on the fruity firm stuck to a valuation of between $536 and $581 a share, but it pointed out some concerns about the gross margin of profit on the upcoming iPhone 6 as well as …
Samsung Diva

Seoul-blackening disappointment for Samsung backers as stock droops

Shares in Samsung Electronics fell to their lowest in four months, dropping over four per cent on Thursday, after analysts said the firm's quarterly earnings were likely to be hit by the strong won and weaker business in its display unit, according to Reuters. The Korean chaebol's stock closed down 4.6 per cent on its fifth …
Tim Cook

Tim Cook gets weensy 1.9% increase - but it's still twice an average joe's salary

Apple CEO Tim Cook has been handed an $80,000 pay rise - a modest 1.9 per cent increase of his total take-home pay, which nevertheless amounts to almost twice what the average American worker can expect to take home in a whole year. In 2013, Cook was bunged a whopping $4.25m for leading Apple, according to the fruity firm's …
Jasper Hamill, 30 Dec 2013
Measuring up Apple

Note-jotting and mapapp firms VANISH into Apple's MAW

Apple has slurped two companies in a bid to boost the fortunes of its maps app and note-taking services. According to the evergreen rumours site 9to5Mac, the fruity firm wolfed down mapping firm Broadmap and Evernote competitor Catch, which specialises in natty note scribbling. In the last quarterly earnings announcement, Tim …
Jasper Hamill, 24 Dec 2013

Foxconn boss: We're CROSSING Mexican border ... to bring TV-making jobs into US

The head of Foxconn has reportedly said that he is confident that the group, which includes the Hon Hai unit busily making iPhones, will see its revenue grow by 15 per cent this year. Terry Gou also said that the group was expecting to invest 10 times as much in the US in 2014, Reuters reported local media including the …
Red Hat Shadowman logo

Red Hat's pockets bulging on strong Linux, JBoss sales

Enterprise Linux vendor Red Hat posted strong financial results for the third quarter of its fiscal 2014 on Thursday, with earnings that beat both analysts' estimates and the company's own earlier guidance. Revenues for the quarter ending on November 30 were $397m, up 15 per cent from the same period a year ago. In the …
Neil McAllister, 20 Dec 2013
Oracle's Iron Man 2 ad

Oracle: Our figures say hardware has flatlined, but we assure you it hasn't

Database and wannabe hardware giant Oracle has beat Wall Street expectations after nine disappointing months, and said cloud services are one of its three main growth areas for next year. The company reported its second-quarter results for its fiscal 2014 year on Wednesday, and surprised analysts by stemming the rot in new …
Jack Clark, 19 Dec 2013
Violin

Vodafone dodges UK corporation tax bill - AGAIN

Mobile carrier Vodafone defended its financial arrangements today as it coughed to yet another legal dodge of UK corporation tax payments by asking Brits to have some sympathy over the huge debt mountain it is sitting on. The multinational justified its actions by saying it was continuing to pump big sums of cash into Blighty by …
Kelly Fiveash, 18 Dec 2013

Go on, buy Bitcoin. But DON'T say we didn't WARN YOU

Buying virtual currencies, such as Bitcoin, presents a number of risks that consumers should be aware of before purchasing such assets, the European Banking Authority (EBA) has warned. The regulator said that because virtual currency is not regulated, consumers risk losing their money by "buying, holding or trading" them. " …
OUT-LAW.COM, 18 Dec 2013
The Winklevoss twins, Cameron and Tyler

HALF of all Bitcoin-investing Winklevoss twins predict $400bn market for the currency

Facebook backer-turned-antagonist Cameron Winklevoss has issued a bright forecast for the future of the Bitcoin cryptocurrency. Speaking in a Reddit Ask Me Anything session, Winklevoss said that he projects the value of Bitcoins could reach upwards of $40,000 at some point in the not-too-distant future. "Small bull case …
Shaun Nichols, 17 Dec 2013
Photo by Adam Hart-Davis

IBM hid China's reaction to NSA spying 'cos it cost us BILLIONS, rages angry shareholder

An IBM shareholder is suing Big Blue, accusing it of hiding the fact that its ties to the NSA spying scandal cost it business in China – and wiped billions off its market value. The Louisiana Sheriffs' Pensions and Relief Fund has filed the suit in New York, claiming that Big Blue "misrepresented and concealed" that its …

Bitcoin cred boosted by $25m cash infusion into Coinbase

The Bitcoin sector has been given a new boost of confidence following a $25m investment by famed Silicon Valley venture capital firm Andreessen Horowitz. The firm said that it would take a stake in Coinbase, a San Francisco startup that specializes in managing Bitcoin wallets and facilitates transactions between customers and …
Shaun Nichols, 12 Dec 2013

UK.gov declares digital success as PR, food shops redefined as 'tech' businesses

Analysis Are you in PR? Do you sell holidays or food? Congratulations, you're now an internet business! Global financial index provider the FTSE Group has just announced a "widen[ing of] the definition of what constitutes an internet service business" – which gov.uk has been quick to trumpet as a success growing out of its "Tech City UK …

Amazon won't break into sweat about Google's cloud. Yet

When Google took the wrapper off its Amazon-like Compute Engine service last week, investors in rival cloud companies – including Amazon – panicked. Shares in Amazon and the OpenStack-backer Rackspace fell as investors feared Mountainview would translate its dominance of internet search and ads to cloud hosting. There's …
Gavin Clarke, 9 Dec 2013

Telecom New Zealand exits Australia with AAPT sale

The last remnant of one of Australia's first batch of competitive telecommunications carriers, AAPT, has been sold to TPG for $NZ450 million (about $AU410 million). The sale marks the exit of Telecom New Zealand from the Australian market. In 2010 TNZ sold AAPT's consumer customers to iiNet for $NZ60 million. TPG outbid rivals …

Industry group blames 'outdated' kit for stock-market tech disasters

A US trade association for the stock market industry has called for an overhaul of the "outdated" technology systems that exchanges used for their share trading. The Securities Industry and Financial Markets Association (SIFMA) also told the Securities and Exchange Commission (SEC) that it was imperative that brokers, dealers …

Facebook offshores HUGE WAD OF CASH to Caymans - via Ireland

Facebook has reportedly swerved a huge corporation tax bill by paying its Ireland-based parent company - Facebook Holdings Limited - €1.75bn in “admin costs” for its intellectual property. According to the Financial Times (£), Facebook recently reported a pre-tax loss of €626,000 after it paid out those expenses. In 2012, …
Kelly Fiveash, 6 Dec 2013
Kindle Big Brother

Big Brother's software firm Palantir valued at $9 BEEELION

How much does it cost to buy out one of big brother's favored toolmakers? Around $9bn, according to a recent valuation of Silicon Valley darling Palantir. The "Big Data" analysis company made a Form D filing with the SEC on Thursday disclosing a $58m cash infusion, and other reports by The Wall Street Journal, The New York Times …
Jack Clark, 6 Dec 2013

People's Bank of China bans Bitcoin over 'drugs and guns' trade fears

China has banned its banks from using Bitcoin after warning the cryptocurrency could be used to fund terrorism. Financial institutions in the Middle Kingdom will no longer be able to use Bitcoin, although citizens are free to spend the digital funny money. The People's Bank of China announced its decision in a statement …
Jasper Hamill, 5 Dec 2013

FCC greenlights Verizon buyout of Vodafone

Verizon's plan to acquire all outstanding shares in its US wireless business has been granted the approval of the Federal Communications Commission (FCC). The FCC said on Wednesday that new rulings on foreign ownership have allowed it to speed up approval of such investment deals, in this case Verizon's plan to acquire Vodafone …
Shaun Nichols, 5 Dec 2013

Icahn rallies the troops to pump Apple for cash at next shareholder meeting

Wall Street tycoon Carl Icahn hasn't given up on his quest to have Apple return some of its $150bn cash stockpile to investors, and he now wants Cupertino's shareholders to vote on the idea. Icahn has spent the last few months pestering Apple CEO Tim Cook to spend the company's cash reserves on a stock buyback program that would …

RBS MELTDOWN LATEST: 'We'll be the bank we should be ... next YEAR maybe'

RBS Banking Group is still refusing to say what went wrong with IT systems in its third major outage in less than two years, despite the fact that customers are still facing problems with their accounts today. In a mea culpa statement, chief exec Ross McEwan said that the systems failure on Cyber Monday was "unacceptable" and …
Asteroid mining

MINING in SPAAAACE! Asteroid-scoopers? Nah - consumers will be the real winners

Given the venal nature of what passes for a heart beating in this chest of mine, what really interests me is who is going to make all the moolah from this rushing off into space and mining 'n' stuff. But this isn't a question that appears to have a simple answer, for there are five groups here and each will have a problem with …
Tim Worstall, 4 Dec 2013
Ray Harryhausen's skeleton army from "Jason and the Argonauts"

Nimble took a sueball to the knee, still rates itself with $1.2bn valuation

Hybrid array hypergrowth startup Nimble Storage, currently facing a lawsuit from rival NetApp, has put numerical flesh on its IPO bones and says it wants to raise $166m. Nimble made an amended IPO filing, saying it was registering 9.2 million shares priced from $16.00 to $18.00 each – with a maximum offering price of $165.6M. …
Chris Mellor, 4 Dec 2013
Cat 5 cable

Akamai to gobble down Prolexic for its enterprise DDoS defences

Content delivery and security services firm Akamai has announced its plans to slurp Prolexic, a cloud security outfit, for $370m. Prolexic will help Akamai strengthen its protection for corporate clients with online protection from distributed denial of service (DDoS) attacks for data centres and enterprise IP apps. "Any …
Steve Ballmer and Tony Bates

Brit-boy Bates is Silicon Valley's pick for Microsoft's CEO

Comment Could a Briton end up running quintessential American multinational Microsoft, the world’s largest software company? Or, put another way: could an exec who only briefly ran a small loss-making telco end up in charge of a $73bn business? Why the hell not, if you’ve got the Silicon Valley mindset. London boy Tony Bates, born in …
Gavin Clarke, 2 Dec 2013
Stock ticker board

Fujitsu: Sayonara, London Stock Exchange... You're not worth the money

Japanese giant Fujitsu is to yank its shares from the London Stock Exchange in a move that will help it cuts costs and which recognises the shifting sands in global financial markets. The application to delist common stock and European Depository Receipts* from the Official List of the UK Listing Authority**, as well to cancel …
Paul Kunert, 28 Nov 2013