Articles about finance

The Broadcom BCM2836 chip in the new Pi 2

Now, now, Qualcomm... Don't play hard to get, grins Broadcom

Broadcomm says it will continue its efforts to acquire rival chip designer Qualcomm despite a unanimous rejection of its $103bn buyout offer. Shortly after Qualcomm issued its statement on Monday turning down the $70-per-share bid, Broadcomm fired back almost immediately with an announcement of its own maintaining that its …
Shaun Nichols, 13 Nov 2017
Stock market image via Shutterstock

Equifax Q3 results: Not as bad as you might have hoped – hack only cost biz about $87m

Equifax's latest financials lay bare the costly fallout from the embarrassing security breach that exposed 143 million customers' privates in the US and 15.2 million records in the UK. Calendar Q3 numbers for the three months ended 30 September - the latter being the same month the company 'fessed up to the mega leak - include …
Richard Priday, 10 Nov 2017
Money down the drain

Oh Snap! Rap for crap chat app brats in nine-month $3bn scrap flap

Shares in (former) social media darling Snap Inc. are understandably tanking today after the photo-spaffing service said it was losing more money and gaining fewer users than anticipated. The Q3 report, out today, found the upstart recording losses that were more than double its revenues while user growth also slowed and a …
Shaun Nichols, 8 Nov 2017
Litter

Finance sector is littered with vulns, and guess what – most can be resolved by patching

Security vulnerabilities across the finance sector have increased more than fivefold (418 per cent) in the last four years, according to a study by NCC Group. The most common high and medium-risk vulnerabilities were found in customer-facing web apps. NCC categorised vulnerabilities found in 168 financial services …
John Leyden, 22 Sep 2017
Older woman with shocked expression speaks on fixed line phone... photo by Shutterstock

Network and IT investment spanks Three's bottom line

UK mobile operator Three posted a drop in operating income of 15 per cent to £197m in its first-half results, due to costs associated with network and IT infrastructure investment. In a call the company said it is preparing to ramp up investment in its network to prepare for the onset of 5G technology. Total revenue for the …
Kat Hall, 3 Aug 2017
Photo by James Duncan Davidson

Bezos' bonkers bank of bucks beats big Bill's brilliant billionaire bundle

Updated Amazon founder and Washington Post owner Jeff Bezos rode a surge in his web giant's stock price to overtake Microsoft cofounder Bill Gates as the richest person in the world. During the rally in Amazon's stock price late Wednesday, Bezos saw his personal paper fortune reach $92.3bn, according to Bloomberg, surpassing the $90. …
Shaun Nichols, 27 Jul 2017
Sheaf of £50 notes poised on the rim of a toilet bowl as toilet is flushed. Collage of two photos sourced from Shutterstock

Co-op Bank up for sale while customers still feel effects of its creaking IT

A "For Sale" sign went up outside the troubled Co-operative Bank this morning, weeks after the cash-strapped lender said it was unable to raise required funds. But while the bank's woeful finances dominate the headlines, its poor IT history also continues to affect customers. Co-op Bank nearly collapsed in 2013 until a rescue …
Kat Hall, 13 Feb 2017

This bot shorts stocks when Trump tweets (don't fret, the profit is used for good)

US President Donald Trump's tweets about Boeing, General Motors, and Toyota have affected the companies' stock price – and creative agency T3 believes that consequence will be repeated. So the self-styled think tank created the Trump and Dump Bot to profit from presidential tweet-lashings. The bot shorts stocks based on the …
Thomas Claburn, 30 Jan 2017
Bitcoin, photo via Shutterstock

Bitcoin breaks US$1,000

Bitcoin has surpassed the US$1,000 mark for the first time in three years. The high water mark was breached Monday trading at US$1,019 at the time of publication. It follows a steady increase in the value of the crypto currency in recent months buoyed by China's devaluation of the yuan, the removal of high valuation bank …
Team Register, 3 Jan 2017
UK pound crashes after Brexit

ESMA urges companies to disclose potential Brexit impact

Listed companies should disclose the potential impact of Brexit in their financial statements, the European Securities and Markets Authority (ESMA) has said. In its annual statement on European common enforcement priorities, which identifies enforcement priorities for listed companies’ financial statements, ESMA "urges issuers …
OUT-LAW.COM, 2 Nov 2016
Burning money, photo via Shutterstock

Verizon: Data center sale going nicely. Yahoo! bid? Not so much

US telecom giant Verizon says it has formally begun talks with Yahoo! on adjusting the terms of their merger. Speaking to analysts during the company's fiscal Q3 2016 earnings call, CFO Fran Shammo said that Verizon's lawyers had their first meeting with Yahoo! brass yesterday to discuss the breach of a half billion Yahoo! …
Shaun Nichols, 20 Oct 2016
Photo by Christoph Dernbach

Yahoo! hides! from! financial! analysts! amid! email! hacking!, privacy! storm!

Yahoo! had little to say on its looming tie-up with Verizon, as the Purple Palace turned in quarterly numbers that managed to beat analyst expectations. Speaking only briefly on the recent comments from Verizon about adjusting the $4.8bn acquisition deal in the wake of security and privacy problems, Yahoo! CEO Marissa Mayer …
Shaun Nichols, 18 Oct 2016
Raining money

A-dough-be: Photoshop flinger pumps profits 50 per cent

Adobe is crediting the success of its cloud and digital media groups in reporting record quarterly revenues. The Creative Cloud maker says that its Q3 2016 period (ended September 2) saw a number of units reach new highs: Revenues of $1.46bn were up 20 per cent over the year-ago quarter. Net income of $270m was a 55 per …
Shaun Nichols, 20 Sep 2016
Stock traders

Nutanix's $209m, $13-a-share IPO revealed in homework to watchdog

Hyperconverged upstart Nutanix has submitted more details about its forthcoming IPO to the US financial watchdog, the Securities and Exchange Commission (SEC). The San Jose-based biz will seek to raise up to $209,300,000 in the offering by selling 14,000,000 shares of Class A voting stock at a starting price of $11 to $13. An …
Shaun Nichols, 19 Sep 2016
Samsung SUHD 5K TVs

Phones exploding in kids' hands, shares tanking – but it's not all good news at Samsung

Samsung is continuing to take a beating in the market as it staggers from the global recall of its Galaxy Note 7 handset. The Korean consumer electronics giant saw its stock price plummet 6.98 per cent on Monday to 1.46m Korean won per share. This resulted in roughly $15.9bn of value trimmed from Samsung's market cap on the …
Shaun Nichols, 12 Sep 2016

HPE crams unloved software down Brits' throats – then charges them $9bn to swallow it

Hewlett Packard Enterprise will eject its non-core software business in what it calls an $8.8bn "spin merge" deal with UK-based Micro Focus. HPE's big data, security, and IT management products – including some of its ex-Autonomy assets – will be spun out into a new company that will merge with Micro Focus. That's a software …
Shaun Nichols, 8 Sep 2016
Man in tie smashes printer with baseball bat in a field.

Error: Print job 'Money' failed for laserjet001.lan.hp.com

HP Inc says it will move forward with its plans to cut costs and refocus its business as it posted better than expected quarterly numbers. For the three months to July 31, Q3 of its 2016 fiscal year, the printers and PCs half of the HP split reported: Revenues of $11.9bn were down four per cent on the year-ago total of $12. …
Shaun Nichols, 25 Aug 2016
NVidia aims to gives games power to handhelds

PCs? Eh, who needs 'em? Nvidia asks while hoovering up more cash

Nvidia says its last quarter set record high marks for revenues, as returns were up across the board. For the second quarter of fiscal 2017 – the three months to July 31 this year – the California-based GPU specialists logged: Revenues of $1.43bn, a 24 per cent increase over last year's $1.15bn. Net income of $253m was up …
Shaun Nichols, 11 Aug 2016

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