Exact figures on how much it is costing British firms vary but recent research from the UK government found that eight out of ten large companies had suffered a breach and most were seeing attacks on at least once a month.But nowadays it is increasingly attracting professional criminals.They can make good money from cybercrime and the risk of getting caught is low.Even if they do get caught the punishments are far less arduous than if you get caught robbing an actual bank or dealing drugs.The huge growth of Bitcoin and other alternative currencies have also made it much easier for the crooks to get paid.The traditional way of protecting a business against cyber-attack was to protect the perimeter.
Shares of the small tech company MGT Capital Investments were up more than 37% on Tuesday at $4.08 per share.With over 108 million shares traded, it was the most active stock, ahead of Bank of America.Tuesday was another day in a stream of strong upward moves for the stock after the company announced on May 9 that it was naming John McAfee, founder of antivirus firm McAfee Security, as CEO and re-branding the firm John McAfee Global Technologies Inc.The surge followed the McAfee announcement, which included a sudden shift in the business from online gaming to cybersecurity.MGT acquired D-Vasive, a company that produces software that protects cellphones, on May 9.Before the shift, the company focused on online games such as slots simulator SlotChamp and had a 10% stake in daily fantasy site DraftDay.com.The firm had no holdings regarding cybersecurity before the acquisition, according to its most recent annual filing.Here's what we know about the abrupt pivot so far:September 8, 2015: MGT sells all but 11% of its stake in DraftDay.com, according to its annual report.April 14: After delaying its annual report from March 31, MGT files its report, saying it has $359,000 in cash on hand.The report does say that following the sale of DraftDay, the firm is "considering all methods to create value for shareholders, including potential mergers, spin-offs, distributions and other strategic actions.Brauser has been sued numerous times for fraud involving small, publicly listed firms, though some of those allegations have been dismissed.The most recent was dismissed in September 2015, for the company IDI Inc. Brauser was also CEO of an email-marketing company, Naviant, which was acquired and eventually sued by credit agency Equifax after the firm accused the shareholder sellers of fraud.According to that filing, Silverman and his firm no longer have any representation on the board.May 9: McAfee is named chairman and CEO, and the company buys Wyoming-based cybersecurity firm D-Vasive for $300,000 in cash and 4,760,000 in shares of MGT.
Apple is increasing its focus on India after announcing plans to open its first developer center in the country.Apple said it will work to inspire and instruct developers on best practices, help them hone their skills and transform the design, quality and performance of their apps on the iOS platform.Building an ecosystem of top apps is one way that Apple can appeal to consumers who are in the market for a smartphone.The U.S. company has steadily put more attention on India in recent years, in part because India s smartphone market is showing signs of serious growth potential and also to offset some of the company s reliance on China for revenue.That s far behind China, where Apple currently enjoys around 22 percent of sales, according to data from Kantar.The company is seen by many as under pressure from the government — appeasing the state, which is cracking down on overseas tech firms, may be behind Apple s $1 billion investment in Chinese Uber rival Didi Chuxing — while the Chinese smartphone market s slowdown is a key reason Apple disappointed in its recent earnings.
Alibaba s membership of the International Anti-Counterfeit Coalition has been suspended, following accusations of conflicts of interest and complaints from other member brands.In response to its suspension by the IACC, Alibaba said on Wednesday that they will still work to crack down on counterfeit goods and work to protect intellectual property rights.In a statement over Weibo on Wednesday, Alibaba said that neither the open letter by the IACC, nor the withdrawal of several IACC members in protest of e-commerce companies like Alibaba will shake their determination to fight fakes.The IACC is the world s largest nonprofit anti-counterfeit organization, founded in 1979.It admitted Alibaba into the body on April 13, but several luxury brands, including Gucci and Michael Kors, withdrew their membership shortly after, saying Alibaba has not done enough to rid their e-commerce platforms of fakes.Alibaba said that they have been in cooperation with organizations, government agencies and IACC member companies to protect intellectual property rights.Alibaba stressed its role in fighting against counterfeit products, saying that it meant to bring benefits to other member companies in joining the IACC , and that it is to the detriment of the e-commerce industry that the IACC suspended Alibaba s membership.Alibaba appealed in a statement that the IACC should welcome new trends and technologies with an open mind for the overall interest of its member companies, in spite of the anti-counterfeit body s internal political struggles, and competing interests of individual firms .On May 13, the IACC released an open letter in response to an anonymous letter that claimed that President Bob Barchiesi owned shares in Alibaba.IACC then decided to suspend the membership of Alibaba.Alibaba has been long criticized for the merchants selling counterfeit products on its e-commerce platforms.According to a random inspection by the State Administration for Industry and Commerce, for the second half of 2014, 62.75% of the products on Alibaba s e-commerce platform Taobao were counterfeits.Alibaba loses up to five users for each fake product sold on our trading platforms, the founder of Alibaba Jack Ma said to the media in October 2015.
LONDON— ARM Holdings ARMH 3.16 % PLC, the England-based tech firm that designs most of the world s smartphone chips, said Wednesday that it completed a $350 million acquisition of a computer-vision company, in a bet that it can further ARM s goal of getting its technology into new markets such as automobiles, robots and everyday household items.For example, its technology can help a security camera distinguish between a human and cat.Founded in 2002, Apical employs 100 people.As the growth in global smartphone shipments slows—ARM expects an annual increase of 6% to 7% for the next five years—the company has diversified.It can automatically transmit live video to the homeowner whenever it detects motion, but that would take up a lot of power and bandwidth.Based in Cambridge, England, ARM is regarded as one of the U.K. s top tech firms.
Just as Amazon changed the way we shop and Apple reinvented the music biz, digital disruption is going to soon affect every aspect of your money: how you earn it, save it, invest it and spend it.You'll want to keep close tabs on the 50 companies listed here.They are the small firms destined to have a big impact on your financial future and possibly upend your portfolio.Click here for the first list.More details on each company can be found here.
If we re right, this poses a long-term strategic risk for these firms, analysts including Jason Bazinet wrote in a research note.Citigroup downgraded Scripps and Discovery to sell from neutral and maintained a neutral rating for Viacom.Hulu, the online video service co-owned by 21st Century Fox Inc., Walt Disney Co. and Comcast Corp., is said to be planning a live TV package of channels from its owners and their peers.Because the three represent the largest buyers of sports rights in the U.S., Citigroup expects one Hulu bundle to be sports-centric -- what it termed NewLu.Discovery slumped 3.3 percent to $26.55 and Viacom lost 1.7 percent to $38.74.Disney Chief Executive Officer Bob Iger confirmed Hulu s plans to become a cable-like service Wednesday, saying the move will help his company as a part owner of Hulu and as a programmer.Media companies and pay-TV distributors are beginning to offer smaller packages of live channels as an alternative to costly cable and satellite service and to draw new viewers to their channels.Sports content is unique: it s not fungible with Web-based video offerings from Netflix and Amazon, they wrote in the note.
If hackers take down a bank, it could endanger the whole society, says Barclays chairman John McFarlane.The financial sector needs to do more to protect itself against cybercriminals, as the combination of money and personal data that banks possess represents the "perfect target" for hackers, according to a new industry report.Read More"Digital technology has radically changed every aspect of our lives and brought untold benefits.Of course, with these opportunities it's introduced a new threat which is cybercrime; not only are they after our information, they're after our money and can and will steal it from wherever they choose," said John McFarlane, chairman of Barclays and TheCityUK.TheCityUK also calls for the creation of a City-wide cyber forum to "to promote collaboration across all firms" in the sector, in order to encourage best practice sharing and strengthen every organisation's cybersecurity.There is no silver-bullet to manage it, but there are practical steps the industry, and the customers we serve, can take to ensure we're well protected against attack," said Chris Cummings, chief executive of TheCityUK.
This guide is going to show you some of the ways to generate sales leads like never before through inbound marketing and more.Podcasting is getting huge, and through a well planned podcast, you can help promote your services on the Internet.For example, in an online discussion someone may talk about finding the best golf courses.It s not closing on 100 million registered users, with a significant portion of them posting at least once a month.A vacation rentals company will be able to use the color and beauty of their natural surroundings in their images, but accountancy firms and sellers of insurance may well struggle with the visuals.And that s where this guide can no longer help you.
What we haven t heard very much about is how blockchain could fundamentally change how companies are managed and operate.Other firms like Goldcorp have created global challenges to search for the best minds to solve their toughest problems.The results of these queries won t be resumes, advertising links, or other pushed content; they ll be transaction histories, proven track records of individuals and enterprises, ranked perhaps by reputation score.Said Vitalik Buterin, founder of the Ethereum blockchain, Blockchains will drop search costs, causing a kind of decomposition that allows you to have markets of entities that are horizontally segregated and vertically segregated.Can you code in Scrypt, Python, Java, C ?In these waning days of billion-dollar start-up valuations, $26 million isn t especially jaw-dropping.
Government plans to introduce broadband USO, reform communications code and implement driverless car framework all confirmed in state opening of parliamentThe government has confirmed plans to introduce a 10Mbps universal service obligation USO and reform to the Electronic Communications Code ECC to make it easier for communications providers to rollout broadband and mobile phone infrastructure.As detailed in the Queen s speech, a new Digital Economy Bill will give every household the right to demand the new USO, but might have to contribute financially to the cost of connection in the most remote areas.BT has already indicated a willingness to help deliver the new USO, but industry body techUK has warned against using the USO to connect the final five percent and has urged the government to look at other measures such as removing barriers to investment and further public subsidy.The legal mechanisms of the proposed USO allow for the speed to be increased – something other companies have urged the government to do in the future.Communications providers have generally welcomed the proposals to reform the ECC.They long called to have the same access to sites as the level enjoyed by utilities firms, claiming the cost of upgrading and deploying new infrastructure was too expensive because of the rents demanded by landowners.
News: Several Intel Capital employees are expected to be transferred with portfolio.The company said 212 portfolio firms have gone public on several exchanges globally and more than 383 were acquired or participated in a merger.Earlier this month, Intel sold $2.75bn worth of bonds to refinance existing debt and a portion of notes that are due to mature in 2017.The company is shifting its focus to cloud in order to address the decline in the personal-computer market and its failure to capitalise on the switch to smartphones.As part of its changing focus, Intel is planning to cut 12,000 jobs, which equates to 11% of its workforce.The company hopes to save $750m this year, with annual run-rate savings of $1.4bn by mid-2017.
New billing suite aims to unify the entire billing process, no matter what business model is in useNetSuite has detailed a new unified billing system for customers that will work with any business model, whether its product-based, time, service, subscription, usage or any combination of these.SuiteBilling, as its known, unifies both the billing and revenue recognition processes, giving customers more control and visibility from multiple sales channels.And to make matters worse, companies operating hybrid business models that contain a mix of different offerings, packaging and pricing bundles, are also emerging.So as the billing process becomes more complex, the challenge for businesses is to maximise their revenues by allowing firms to price their products in new and innovative ways.Last month it announced a new Benelux region headquarters in Amsterdam as part of its ongoing expansion in Europe.The company is also in the midst of having to deal with the implications of the new Privacy Shield data sharing agreement between the United States and European Union, which failed to gain the public backing of a key European data protection group.
We develop the key components that need to control the stream, through a new material technology that we have developed. It is called silicon carbide, says Christian Vieider, president of Ascatron. An electric car has such a large box that converts the power from the battery to the motor, which enables you to accelerate and brake. Ascatrons goal is to reduce energy loss in this conversion. They go all the time and need to convert power from the huge stack voltage to a few volts to sevrarna. Two Italian private equity firm, Quadrivio and Como Venture, and two Chinese private equity firms, Rise Leads Investment and Not Bridge Technology, enters the company.
SAP and UPS combine software and logistics to let customers order parts instantly – if it s cheaper than traditional manufacturingSAP and UPS are working together to deliver an on-demand 3D printing service that links the former s supply chain software with the latter s industrial manufacturing and logistics networks.Customers will be able to approve and order custom 3D printed parts directly from within SAP software, which will then be manufactured at one of 60 UPS facilities cross the US.SAP UPS 3D printing partnershipUPS 3D printing 2It is claimed the partnership will allow companies to simplify supply chains and open up 3D printing to smaller companies without access to a machine, those who cannot justify a long production run or those who need a prototype made quickly.This agreement with SAP adds an important UPS capability to help customers right-size inventories and lower short-run production costs, and help entrepreneurs bring their ideas to life faster than ever, added Stan Deans, president of UPS Global Distribution and Logistics.3D printing has come down in price in recent years with analysts predicting the technology will become more mainstream.Makerbot has targeted small and medium businesses, while HP s recently announced 3D Jet Fusion range is looking at bigger firms, costing between £94,000 and £114,000 per unit.
Only 26 percent of Brits agreed that privacy should be prioritised over security.Yet despite these concerns, consumers are still willing to share the most information with social networks – despite trusting them the least.And firms should be careful when dealing with people s data, after the survey found that three quarters 75 percent of Brits view sharing their data with third parties without their permission as a misuse of their data.Companies with a traditional focus on security, such as banks, are by far considered the most trustworthy but interestingly, we share the most information with social media channels despite the fact that we trust these companies the least to keep our data safe.As we all become more aware of the risks, it becomes even more important to get a security and data protection infrastructure – technology, education and processes – in place that is stringent enough to protect against threats, but does not harm the customer experience.The survey highlights the struggle for both security and privacy in today s increasingly digital world.
Auto show season just ended, but Chinese carmaker Guangzhou Automobile Group Company also known as GAC Group is already looking ahead to next year.GAC will exhibit at the 2017 Detroit Auto Show, marking its second appearance at the Motor City show and the latest attempt by a Chinese company to break into the U.S. market.There is no indication yet of what GAC will unveil in Detroit.Like most Chinese carmakers, GAC has engaged in joint ventures with Western firms, including Fiat Chrysler Automobiles FCA , Honda, and Toyota.Read more: Check out Techrules 1,030-hp turbine-electric supercar conceptsTalk of Chinese cars coming to the U.S. has gone on for years, partly because of the vastness of the Chinese car industry, partly because the cars it produces are expected to be very cheap.The company is a giant in China, but so far it has only managed to lease its e6 electric car to some Uber drivers in Chicago, and sell a handful of electric buses.
Image: Screenshot of a scam website shared a message on Monday offered the opportunity to register for the campaign, which seeks Playstation-testers who get to keep the device. Image: Screenshot of a scam website Playstation representative of Nordisk Film in Finland Valtteri Hyttinen strengthen Pages Scam, which has already been announced for Facebook a week ago. All firms official sites do not, however, confirmation of Facebook accounts, so the absence of the V-symbol does not necessarily reflect the scam. control of Facebook pages is behind the cheats. Official-looking site can be set up in minutes, but the shut-down may take several days. Many of them share the Facebook scam messages, even if they do not necessarily believe in their authenticity.
This means that these computerized advisors can offer both mass affluent and wealthy investors a variety of benefits, such as lower fees.Respondents to the survey also said that robo-advisors would by far have the greatest effect on the financial services industry both one year from now particularly in the Americas and five years from now.This is all further evidence that we ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts and partnerships will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.As you can see, this very fluid environment is creating winners and losers before your eyes…and it s also creating the potential for new cost savings or growth opportunities for both you and your company.After months of researching and reporting this important trend, Evan Bakker, research analyst for BI Intelligence, Business Insider's premium research service, has put together an essential report on the fintech ecosystem that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies.These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:Retail banking Lending and Financing Payments and Transfers Wealth and Asset Management Markets and Exchanges Insurance Blockchain Transactions If you work in any of these sectors, it s important for you to understand how the fintech revolution will change your business and possibly even your career.And if you re employed in any part of the digital economy, you ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.Among the big picture insights you'll get from The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.The blockchain is a wild card that could completely overhaul financial services.This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.This exclusive report also:Explains the main growth drivers of the exploding fintech ecosystem.Frames the challenges and opportunities faced by incumbents and startups.Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth.Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintechExplains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it.Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities.And much more.The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry is how you get the full story on the fintech revolution.To get your copy of this invaluable guide to the fintech revolution, choose one of these options:Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more.BUY THE REPORTThe choice is yours.But however you decide to acquire this report, you ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology.
Many tech companies in Silicon Valley like to blame the lack of diversity on what they call the pipeline.Of the people graduating from top engineering programs, 9 percent are black and Latino, but representation at tech firms typically falls around 5 percent, according to the EEOC s recent analysis of the 2014 EEO-1 data the agency collected.Orrick Partner Erin M. Connell at the EEOC teleconference in San Francisco.However, only five percent of the large tech firm employees are from one of these groups.This presents the unlikely scenarios that either major employers in the field are unable to attract four out of nine under-represented minority graduates from top schools or almost half of the minority graduates of top schools do not qualify for the positions for which they were educated.Among leading tech firms in Silicon Valley, 57 percent of executive employees were white, 36 percent were Asian American, 1.6 percent were Hispanic and less than 1 percent were black, according to the EEOC s 2014 data analysis.Although the meeting took place in Washington, D.C., I was able to sit in at the teleconference at the EEOC s San Francisco district office, where Connell participated via the livestream.