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Showing posts from February, 2013

Quebec NDP MP Claude Patry jumps to Bloc

Lockheed Martin Corp (LMT.N) has agreed to pay $19.5 million

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English: Main entrance to Lockheed Martin Center for Leadership Excellence (CLE) in Bethesda. (Photo credit: Wikipedia)Lockheed Martin Corp (LMT.N) has agreed to pay $19.5 million to settle a securities fraud class-action lawsuit accusing the company of misleading investors about the prospects for its information technology division, according to court papers.
The settlement, which requires a judge's approval, was detailed by the plaintiffs in papers filed in U.S. District Court in New York on Tuesday.
The accord would resolve more than two years of litigation by shareholders who blamed alleged misstatements by Lockheed for a decline in its stock price.
Spokeswoman Jennifer Allen said in a statement Wednesday Lockheed agreed to the accord to "to avoid the expense and distraction of litigation."
"We continue to believe that our disclosures were legal and appropriate and that we would have prevailed in the litigation," she said.
Samuel Rudman, a lawyer for the plaint…

European shop landlords will have to accept lower rents

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chilwell retail park (Photo credit: victuallers2)chilwell retail park (Photo credit: victuallers2) European shop landlords will have to accept lower rents in coming years to help besieged retailers cope with the rise of online shopping and weak consumer spending, French insurer AXA's property arm said on Monday.
Property owners in Spain are under most pressure, AXA Real Estate, Europe's largest real estate fund manager, said in a report called "Retail will never be the same again".
It said online shopping in countries such as France and Britain has become a "substantive threat" to store profitability, which could leave some retailers unable to afford rents that landlords would then have to reduce.
Property investors had underestimated the impact of internet shopping and the economic downturn left them "unable to differentiate between the weakening of physical sales due to the shift online from those resulting from the current recessionary environment&q…

Unemployment benefit solution

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atm (Photo credit: ianbart) While we can't take banks entirely out of the process, it's critical they get a smaller piece of the pie. We can certainly provide a more direct conduit from our tax dollars to get into the pockets of the unemployed without such a huge vig. It would be one thing if banks were mandated to use the profits from junk fees to hire more people, but they aren't. As much money as possible should go to regular people so they can spend it, putting the American economy back on track.
Most states now provide unemployment benefits to workers using prepaid debit cards. While some states are much worse than others, most states allow banks to load these cards with hidden junk fees, according to a recent study by the National Consumer Law Center. In California alone -- one of the better states -- unemployed workers lose $1.8 million every year on their state-issued prepaid debit cards. That's $1.8 million more in Bank of America's profit column, and $1.8…

tax havens have been under sporadic attack

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Panama Banks (Photo credit: thinkpanama) Tolerance ended in the late 1990s, when prosecutors began to catch up with Mr Schneider and his kind and the Organisation for Economic Co-operation and Development (OECD), a rich-country forum, declared war on “harmful tax competition”. Since then tax havens have been under sporadic attack, including two waves of blacklisting. In 2008-09 the G20 took up the cudgels, America put pressure on Swiss banks to reveal more about their customers and various tax authorities started paying for stolen information about offshore accounts.
Pressure on OFCs has since eased a little because they have all accepted, to differing degrees, that they need to exchange more information with their clients’ home countries. But they remain beleaguered as an increasingly confident band of “tax justice” campaigners pushes for more concerted action on tax evasion and avoidance, money-laundering and the proceeds of corruption. Tax avoidance, the grey area between complianc…

high risk credit card processing

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To get a merchant account, you must go through an application process to assure your business is qualified and to assume this responsibility.  eComTechnology has succeeded with their clients for a decade now and been the driving force behind their clients success.
Applying for a merchant account is similar to applying for a business bank account or loan.
eComTechnology evaluates each application to assure the company and owner do not have unresolved issues with past merchant accounts.  Discrepancies in the your documents, extended truths will not produce a successful application, however pointing out where you went wrong the last time might make you successful the second time around.
eComTechnology is an extension of what the banks demand for a successful application.  eComTechnology matches the client with a bank worldwide and has been successful at this for 10 years now.
eComTechnology is a registered ISO/MSP for BMO Harris Bank, N.A., Chicago, IL., and Wells Fargo Bank, N.A., Walnu…

Goldman Sachs slammed with ongoing relationship with Russia

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Image via CrunchBase
The Human Rights Foundation last week slammed Goldman Sachs for their ongoing relationship with the Russian government, saying the bulge bracket bank was basically aiding and abetting a criminal enterprise.
They argued for Goldman Sachs to cease accepting payments from Russia, payments that go towards helping the bank make Russia look good to potential investors and international rating agencies. Russian officials last month announced that they will pay the Wall Street firm $500,000 over the next three years to help the Putin regime lure foreign cash.
“Goldman Sachs has a reputation for knowing global finance, but it has behaved abhorrently when it comes to human rights and assessing investment risk in Russia,” said HRF president Thor Halvorssen in a press release dated Feb. 6.“By striking this deal with Vladimir Putin, Goldman Sachs is abetting one of the world’s most corrupt governments that’s been repeatedly cited by independent monitoring groups for ignoring hu…

Poor password security allowed hackers to broadcast

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English: Emergency Alert System logo as published in the FCC's handbooks. Extracted and converted to SVG by me. Freely available in public domain as it is work of the FCC. (Photo credit: Wikipedia)
Poor password security allowed hackers to broadcast a bogus warning on TV networks that the United States was under attack by zombies, broadcasters said, and one expert in the technology said the emergency channel they broke into remained vulnerable.
The attacks on Monday on a handful of stations prompted the government to order broadcasters to change passwords for the equipment that authorities use to instantly push out emergency broadcasts through what is known as the Emergency Alert System, or EAS.
The FCC would not comment on the attacks, but in an urgent advisory sent to television stations on Tuesday the agency said: "All EAS participants are required to take immediate action."
It instructed them to change passwords on equipment from all manufacturers that forces emergen…

improve cyber-security information

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English: Seal of the United States Department of Homeland Security. (Photo credit: Wikipedia) President Obama, ahead of his State of the Union address Feb. 12, signed an executive order that calls on the owners and operators of critical U.S. infrastructure to "improve cyber-securityinformation sharing and collaboratively develop and implement risk-based standards."

The order also called on the Department of Homeland Security to recommend ways to mitigate security attacks and, among other tasks, for the secretary of homeland security to direct the development of a cyber-security framework that includes a "set of standards, methodologies, procedures and processes that align policy, business, and technological approaches to address cyber risks." To the fullest extent possible, the framework will also "incorporate voluntary consensus standards and industry best practices," said the order.

"We know hackers steal people's identities and infiltrate priv…

google with hit 5 billion in ad revenue

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Image via CrunchBase Google's search ad-click revenue from the spreading use of tablet computer alone in the United States will increase in 2013 to $5 billion, based on a new analysis by Marin Software.

One of the key findings of the new report is that by end of 2013, tablets will account for about 20 percent  of Google's paid search clicks in the United States, which is more than three times the 6 percent in paid clicks Google Search received from tablet users back in January 2012.

The white paper, "Mobile Search Advertising Around the Globe: How Smartphones and Tablets Are Changing Paid Search," was produced by Marin as a snapshot into the online ad usage of its customers, which place more than $4 billion in online search ads using Marin's management platform each year.

Gagan Kanwar, director of research and partnerships for Marin and the author of the white paper, told eWEEK that the $5 billion tablet ad revenue estimate was reached by making projections based…

Citigroup Inc (C.N) has begun axing 50 investment bankers

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Citigroup (Photo credit: Wikipedia)Citigroup Inc (C.N) has begun axing 50 investment bankers across its Europe, Middle East and Africa (EMEA) division as a program of cutting 11,000 jobs hits the heart of the investment bank.
Citi announced the global cuts, equal to about 4 percent of the bank's workforce, in December as part of an effort to eliminate $1.1 billion in annual costs by 2014.
Back office areas like support and technology were singled out as those to be hardest hit, along with consumer banking in markets like Pakistan, Paraguay, Brazil and Hong Kong where Citi is scaling back its presence.
Three sources told Reuters that Citi has this week began laying off investment bankers in the division, with 50 positions to be eliminated imminently.
Of these, between 15-18 are at the managing director level, a source with knowledge of the plan told Reuters on Wednesday.
"The cuts began Monday and are currently going on across the region," said a separate source familiar …

Intel confirms TV box

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Original Intel Inside brand logo (Photo credit: Wikipedia) A lot has been written about Intel's TV push, but the company has largely remained silent.
Erik Huggers, the head of Intel Media, joined Walt Mossberg onstage at AllThingsD's media conference to confirm that Intel will be introducing an Internet-based TV service and box this year.
Intel will be providing the hardware and services directly to consumers, and the box will come with a camera that can detect who is in front of the TV. Huggers declined to provide many details -- including the service's name and programming partners -- but he said the service will let users watch live TV, on demand, and other offerings.
"For the first time, we will deliver...a new consumer-electronics product that people will buy from Intel through a new brand," Huggers said.
He said the set-top box will be be powered by an Intel chip (obviously) and noted that Intel is working with the entire television industry to figure out h…

European Check Processing

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euChecks offer services that allow you to target consumers in North America, Europe and Asia.
Put one button on your site, click on it and be taken to 50+ payment options, it is that easy!
-not uncommon for us to see our clients experience a 30% or more increase in their sales.
-a great solution for start-ups and a solution for established merchants to increase sales.
-payment solutions are GEO-IP based, which means that automatically each payment page is translated into the consumer’s local language and a local phone number and email address is posted for support.
Whether you have a subscription website or sell goods and services, we provide a variety of methods that makes adding our services a simple process. We have our experienced tech associates that can get you setup quickly.
Use of 50+ payment options in 40+ countries in 40 languages.
We are the One-Stop Solution for all your Alternative Payment Processing needs.
eComTechnology provide merchants with a payment network that support…

Tech support for SMBs will grow

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Network complexity, growth of cloud services and bring your own device (BYOD) trends will help drive the U.S. market for SMBtech support to a 14.4 percent compound annual growth rate between 2012 and 2016, reaching nearly $25 billion by 2016, according to a new report from market research firm Parks Associates.

Major corporations like Comcast, which recently rolled out its tech-support product Signature Support, which is targeted at small businesses, and IBM, which expanded its Managed Vendor Support Services (MVSS) to support small businesses, are positioning themselves as providers of more advanced forms of tech support. Cable provider Cox Communications has plans to deploy a small- and midsize-business (SMB) version of its residential product Cox Tech Solutions this year.

"Many tech-support providers have offered SMBs a product that was, essentially, a consumer solution on steroids," Jim O'Neill, Parks Associates research analyst, said in a statement. "But as SM…

Egyptian court suspends YouTube

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Image via CrunchBase
An Egyptian court ordered the suspension of online video service YouTube for a month on Saturday for broadcasting a film insulting the Prophet Mohammad, state media reported.
The country's administrative court ordered the ministries of communication and investment to block YouTube, owned by Google, inside Egypt because it had carried the film "Innocence of Muslims," said state news agency MENA.
The 13-minute video, billed as a film trailer and made in the United States, provoked a torrent of anti-American unrest in Egypt, Libya and dozens of other Muslim countries in September.
The video depicts the Prophet as a fool and a sexual deviant. For most Muslims, any portrayal of the Prophet is considered blasphemous.
The court said it was ruling on a case brought about the film several months ago, without going into further detail.
YouTube had "insisted on broadcasting the film insulting Islam and the Prophet, disrespecting the beliefs of millions of Egypt…

RBS chairman defends bonus

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Royal Bank of Scotland (Photo credit: Wikipedia) Royal Bank of Scotland (RBS.L) chairman Philip Hampton has defended the bonus due to be paid to chief executive Stephen Hester even though the British bank has been punished for rigginginterest rates.
RBS, 82-percent owned by the taxpayer, has faced criticism over a deferred bonus of 780,000 pounds ($1.2 million) that Hester is set to receive in March. But Hampton told lawmakers on Monday that Hester's pay was modest by the industry's standards.
Hampton said Hester's pay was well below the average in world banking. "Relative to other people doing these jobs his pay has been modest," he told the Parliamentary Commission on Banking Standards.
Hester, who receives a basic salary of 1.2 million pounds, chose to give up his bonus last year after a computer systems meltdown affected millions of customers. This year he was set to receive a share-based payment of 780,000 pounds deferred from three years ago.
Some lawmakers…

Apple smart watch

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Image via CrunchBase Consumer electronics giant Apple has already reinvented and successfully marketed digital music players, revolutionized the smartphone and tablet markets, and is now turning its focus to a curved glass smart watch, which would be made with the company's manufacturing partner Foxconn, according to reports in The New York Times and The Wall Street Journal.

The Times article, quoting unnamed sources "familiar with the company's explorations" said the watch would run on Apple'siOS mobile operating system platform. Earlier reports said the Bluetooth-enabled device would feature a 1.5-inch organic LED screen and be able to communicate with other Apple devices like the iPad or iPhone.

"Apple is already in the wearable space through its ecosystem partners that make accessories that connect to the iPhone. This makes Apple potentially the biggest player of the wearables market in a sort of invisible way," Sarah Rotman Epps, Forrester research …

future of internet gambling

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English: Harrah's Atlantic City 777 Harrah's Blvd (Photo credit: Wikipedia) The  in New Jersey sent shares of gaming companies on both sides of the Atlantic surging on hopes it could unlock a market worth up to $1 billion.
New Jersey Governor Chris Christie vetoed an internet gaming bill on Thursday but called on the legislature to make amendments which, if incorporated, would be signed into law.
That would allow casinos in Atlantic City to offer online gaming to the nine million residents of New Jersey and also create opportunities for European companies with expertise in running online gaming operations.
It also fuelled hopes that other American states could follow suit and liberalize their gambling laws, though Christie proposed that the New Jersey law, if passed, should be reviewed after 10 years to gauge its impact on problem gambling.
U.S. casino operator Caesars Entertainment Corp's shares rose for the second straight day to trade up 27 percent at $12.75 on the Nasd…

Oracle beefed up its networking services division

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Image via CrunchBase
Oracle beefed up its networking services division Feb. 4 by acquiring Acme Packet Inc. for about $1.7 billion in cash.

Acme Packet's data center hardware products speed up voice, video and data delivery across networks. Specifically, the Bedford, Mass.-based company produces session border controllers (SBCs), multiservice security gateways (MSGs) and session routing proxies (SRPs).

Oracle is paying $29.25 per share, which is a 22 percent premium to Acme Packet's Feb. 1 close on the Nasdaq index.

"Users are increasingly connected and expect to communicate anytime and anywhere using their application, device, and network of choice. Oracle Communications along with Acme Packet can help service providers and enterprises meet these demanding requirements," Oracle said in a statement.
Related articlesLarry Ellison's Oracle Corp. acquires Acme Packet for $1.7B