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Accounting and Finance - Accounting News, Corporate Financial News
Top Finance IT News
As expected, Rajiv Goel, an ex-Intel treasury department executive, pleaded guilty to securities fraud and conspiracy in connection with the massive Wall Street insider trading scandal. Goel faces up to 20 years in prison when he is sentenced in May. Prosecutors say he is cooperating with investigators.
News
SAP CEO Leo Apotheker resigned on Feb. 7 after he and the SAP supervisory board "reached a mutual agreement" not to extend Apotheker’s contract as a member of the SAP executive board. SAP named Bill McDermott, head of SAP’s field organization, and Jim Hagermann Snabe, head of product development, as co-CEOs replacing Apotheker as sole CEO.
News
T-Mobile USA could be spun off or sold as an IPO from parent company Deutsche Telekom, according to reports. T-Mobile currently ranks fourth in the United States, behind Verizon, AT&T and Sprint. Although T-Mobile recently upgraded its 3G network and introduced a selection of high-profile smartphones, service issues involving Google's Nexus One and the Sidekick mobile device have left any number of customers vocally unsatisfied.
News
According to published reports, Rajiv Goel, a former Intel treasury department manager, could plead guilty as soon as Feb. 8. Goel reportedly waived indictment, a necessary step before pleading guilty. Goel was among more than 20 people charged in the insider trading scheme, which prosecutors say generated more than $20 million in illegal gains.
News
With the more mature markets seeing slow growth in IT spending thanks to continued economic worries and a credit crunch, emerging regions will help drive a 3 percent worldwide growth, according to IDC. IDC’s forecast was less optimistic than Gartner’s, which is predicting a 4.6 percent increase. Such regions as the Middle East, Africa, Eastern Europe and Latin America will see the greatest percentage increases in IT spending, IDC says.
News
There is good and bad news on the job front: The bad news is that layoffs are still happening; the good news is that they are a lot smaller than last January, and workers who were laid off in the last year are getting back to some form of work in larger numbers.
News
Microsoft's Windows 7 operating system continues its steady trend upward in terms of adoption, holding a 7.57 percent market share in January with one gust near 10 percent on Jan. 31. Meanwhile, the market share of Microsoft's Windows XP, a nearly decade-old warhorse, continues to steadily decline. Microsoft attributed its strong financial results for the second fiscal quarter of 2010 to robust Windows 7 sales, although some of its other divisions saw their year-over-year revenues slide.
News
The Dell Latitude 13 — a svelte and more hardcore take on the Vostro V13 — and the Precision M6500 dual-core, a quick update to the M6500 quad-core, will both arrive in the coming weeks with an emphasis on being not just hardware but enterprise solutions.
News
IT vendors will have new opportunities in financial markets institutions in 2010, according to research firm Ovum, thanks to increased need for IT infrastructure that can monitor and handle increased government regulations and compliance requirements. At the same time, however, continuing concerns over spending will limit the ability of these IT vendors to fully capitalize on growing needs for governance and compliance software. Both IT vendors and their client base have been wrestling with the effects of a global recession.
News
Sales of semiconductors worldwide fell in 2009, which was expected given the global recession, according to the Semiconductor Industry Association. However, the drop was not as bad as predicted, and the SIA says that increasing demand for PCs, cell phones and consumer electronics, as well as growth in China and India and a host of new devices such as netbooks and tablets, will continue to fuel a stronger 2010.
News
Rajiv Goel, the Intel executive charged with giving inside information regarding Intel and Clearwire to a hedge fund manager, is no longer with the chip maker, having left at the end of 2009. Goel was among several tech executives accused in the scheme, which investigators said generated more than $20 million in illegal gains. Also charged in the case was former IBM executive Robert Moffat.
New Slideshow
Over the next seven months, Intel will install solar panels at eight locations in four Western states that will generate about 2.5 megawatts of power. The project calls for installing the solar panels on the roofs of Intel buildings at all the sites except one. The installations are part of a larger power conservation initiative that Intel kicked off in 2001. Since that time, Intel has invested more than $30 million and has saved more than 650 million kilowatt hours using a variety of different renewable energy sources, including wind, solar, water and biomass. Intel officials say they not only want to reduce their own company's carbon footprint, but also are investing in companies that are developing clean technology products. Intel has invested more than $125 million in more than a dozen of these clean tech companies, including $10 million in five companies in 2009. The following slides illustrate what the new solar installations will look like when completed.
News
Microsoft reported strong earnings for the second fiscal quarter of 2010, thanks at least in part to sales of Windows 7, but software spending by the enterprise and SMBs (small and midsize businesses) remained flat. Analysts studying Microsoft's financials see a business-driven tech refresh occurring after the release of new flagship products such as Office 2010 later in the year, after which point Microsoft's business-related revenue could experience a noticeable uptick.
News
Land lines are not what they used to be, and telecommunications workers are feeling the pain. For the past two years, Verizon has been divesting legacy telephone-based services and moving toward a wireless and Internet-only business while finding smaller companies to take on its debt.
News
Microsoft reported increased revenues for the second fiscal quarter of 2010, as Windows 7 continued to sell well among consumers. Despite increased cash flow, however, Microsoft executives reported no growth in the enterprise software market, and certain company segments such as Microsoft Business Division saw their revenues dip year over year. Analysts have suggested that Microsoft's success in 2010 and beyond would depend on a broader tech refresh among businesses and consumers.
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