Financial

Your source for the latest news on networking in the financial vertical market.

BT Global Services continues to make heavy loss
Nov. 13, 2009
BT Global Services recorded losses of £96 million (US$159 million) in the second quarter of the year, and accelerated cost cutting, prompting speculation the group may eventually part sell the division.

AMD settlement expected to hit Intel's net profit in Q4
Nov. 13, 2009
The cash portion of Intel's legal settlement with Advanced Micro Devices (AMD) could shave as much as US$800 million off Intel's net profit in the fourth quarter, according to investment banking firm Credit Suisse.

Wall Street Beat: Big tech deals stir market
Nov. 12, 2009
As industry insiders attempt to gauge the impact of economic recovery on IT, acquisitions and legal deals among vendors including Intel, Advanced Micro Devices, Hewlett-Packard, 3Com and Logitech are sparking investor ...

QuickBooks 2010
Nov. 11, 2009
There is much to be pleased about in Intuit's QuickBooks 2010 and, unfortunately, still quite a bit to be disappointed with, as well. While Intuit has made an effort to make QuickBooks easier to learn and use and have ...

Vodafone, dependent on voice, set for more cost cuts
Nov. 10, 2009
Despite increased profit in the first half of its fiscal year, Vodafone has decided to double its planned cost reductions, the operator said on Tuesday.

FreshBooks
Nov. 09, 2009
FreshBooks is a Web-based and 256-bit encrypted accounting, time billing, estimate, and invoicing application that seeks to replace desktop-based accounting programs like Quicken, QuickBooks, FirstEdge ( Macworld rated ...

Wall Street Beat: Cisco, market reports cheer tech
Nov. 05, 2009
Good news about the economy along with upbeat statements from industry leaders and market researchers are helping to instill confidence in the tech sector after a rollercoaster ride on U.S. exchanges over the past few ...

Intuit to phase out Quicken Online in favor of Mint.com
Nov. 05, 2009
When financial software maker Intuit acquired Mint.com, there was quite a bit of uncertainty as to what would happen to the popular online financial service. More often than not, when a startup is acquired by a large, ...

Lenovo profits return as restructuring pays off
Nov. 05, 2009
Top Chinese PC maker Lenovo posted its first quarterly net profit in a year on Thursday, marking gains from a restructuring and strong sales in emerging markets.

Acer posts record Q3 revenue, forecasts big netbook growth
Oct. 30, 2009
Acer reported its best quarterly revenue ever on Friday, and forecast even better times ahead.

Alcatel-Lucent's losses deepen as sales drop
Oct. 30, 2009
Alcatel-Lucent saw third-quarter losses increase and sales drop compared to the same period last year, but the company still expects to break even for the full year, it said on Friday.

Samsung reports good Q3, bright outlook for 2010
Oct. 30, 2009
Samsung Electronics achieved healthy increases in sales and profits during the third quarter of the financial year thanks to higher demand for its components and finished products, it said Friday. The company also said ...

Microsoft discontinues accounting software
Oct. 30, 2009
Microsoft is spiking its Office Accounting software family and will stop distributing the products as of Nov. 16, according to a posting on the company's Web site.

SMIC extends loss streak, but revenue up
Oct. 29, 2009
Semiconductor Manufacturing International (SMIC), China's largest chip maker, posted its tenth straight quarterly loss on Wednesday, but a rise in revenue from the past quarter reflected the chip industry's ongoing ...

HCL reports 25.8 percent year-on-year revenue growth in Q1
Oct. 29, 2009
HCL Technologies (HCLT) has recorded a 25.8 per cent year-on-year (YoY) growth in revenues, said the Indian global IT services company releasing its first quarter results on Wednesday (28 Oct).

Motorola posts surprise profit
Oct. 29, 2009
Even before the phones it is hinging its future livelihood on hit the market, Motorola posted a surprise profit and upped expectations for the current quarter.

TSMC reports best profit in a year, ups chip gear spending
Oct. 29, 2009
Taiwan Semiconductor Manufacturing (TSMC) reported its best quarterly net profit and sales in a year on Thursday, and predicted even better times ahead as the impact of the global recession fades.

Nintendo profit halved as Wii console sales slow
Oct. 29, 2009
For the last few years Nintendo has been riding high on the runaway success of the Wii console but now that success appears to slowing considerably. Sales and profit at the Japanese games company fell sharply during the ...

SAP earnings rise as revenue continues to slip
Oct. 28, 2009
SAP's revenue fell in the third quarter, but earnings rose -- although neither figure was as high as analysts had hoped. The company said it expected the decline in software and software-related service revenue to ...

Hurt by server slump, Symantec sees market stabilizing
Oct. 28, 2009
With revenue down slightly during its latest fiscal quarter, Symantec said Wednesday that it was starting to see some stabilization in enterprise spending.

UMC posts best Q3 in years on stronger chip sales
Oct. 28, 2009
United Microelectronics (UMC), the world's second-largest contract chip maker, reported its best quarterly net profit in two years on Wednesday due to strong chip sales.

Outsourcer Wipro continues to be affected by recession
Oct. 27, 2009
Wipro, India's third-largest outsourcer, said Tuesday that its IT services revenue in U.S. dollar terms had declined by 4 percent to US$1.1 billion in the quarter ended Sept. 30 against the same quarter last year.

Judge says TD Ameritrade's proposed security fixes not enough
Oct. 27, 2009
A federal judge's rejection of a proposed settlement by TD Ameritrade Inc. in a data breach lawsuit marks the second time in recent months where a court has weighed in on what it consider to be basic security standards ...

Toshiba ekes out small operating profit in first half
Oct. 27, 2009
Toshiba ended the April to September period, the first half of its fiscal year, with its operations in the black turning around losses last year although sales fell sharply and the company lost money overall, it said ...

China's Baidu sees profit surge as lead over Google grows
Oct. 27, 2009
Top Chinese search engine Baidu.com reported a 40 percent hike in net income on Monday as the company appeared set to continue strengthening its lead over rival Google.