Archive for the ‘News’ Category

British Ethics Group Calls for Regulations on Testing Sold Directly to Consumers

Tuesday, October 12th, 2010

Tests often provide medically meaningless data according to ethics group

With medical technology becoming more and more advanced, we have numerous new medical tests that doctors can use to check for various disease conditions. Some of the new genetic tests can be used to determine the chance a patient might have of developing a serious disease like cancer or diabetes at some point in their lives.

The interesting part about many of these genetic tests is that there is a market for direct sales of genetic testing to people that have no symptoms or reason to worry they might develop a certain disease. A new report by a British medical ethics groups has asked that private DNA testing be accredited and have to live up to certain standards to protect consumers.

The group maintains that many of these genetic tests provide “medically and therapeutically meaningless” results and that these false results could lead the person paying for the tests to pay for further testing that isn’t needed and to needlessly worry about their medical condition. The group, called the Nuffield Council on Bioethics, maintains that the results of many genetic tests are “unclear, unreliable, or inaccurate.” In addition to regulating genetic testing, the group also wants regulations placed on body scanning services using MRI and CT scans. (more…)

Virginia Commonwealth Bank selects DNA from Open Solutions

Tuesday, October 12th, 2010

Open Solutions has announced that Virginia Commonwealth Bank has selected its DNA, an enterprise-wide core relational platform, for the processing needs.

Enhanced by Open Solutions’ advanced open platform, DNA capitalizes on the strength of Open Solutions’ data model and design, while increasing workflow, flexibility and productivity. Built on integrative Oracle relational database, the solution provides the necessary flexibility for running a service-oriented financial institution.

Available as an in-house or outsourced solution, DNA helps banks streamline both front- and back-office processes and creates a comprehensive view of customers, employees and business partners. Virginia Commonwealth Bank will implement DNA in an outsourced environment. (more…)

Facebook Adds One-Time Password Security Feature to Protect Accounts

Tuesday, October 12th, 2010

Facebook users skittish about using their real password on public computers can now get a one-time password sent to their mobile phones.

Facebook has added a one-time password feature as part of an effort to address account security.

The social network site is gradually rolling out the ability to have Facebook text a one-time password to users concerned about working on machines other than their normal computers, such as public computers in hotels, cafes or airports.

“Simply text “otp” to 32665 on your mobile phone, and you’ll immediately receive a password that can be used only once and expires in 20 minutes,” blogged Jake Brill, product manager for Facebook’s integrity team. “In order to access this feature, you’ll need a mobile phone number in your account. We’re rolling this out gradually, and it should be available to everyone in the coming weeks.” (more…)

IBM stock shares reach all time high

Friday, October 8th, 2010

IBM stock shares hit an all-time high Thursday.

Shares closed at $138.72 on the New York Stock Exchange, up 88 cents from the previous day’s close.

A spokesman for Armonk-based IBM Corp. confirmed it was the highest that the shares had ever reached.

Such comparisons are adjusted to eliminate the effects of stock splits, in which a company typically splits one share into two.

During the day’s trading, shares rose as high as $138.88. Volume was 6.4 million shares, somewhat higher than average. Meanwhile, the Dow Jones industrial average, of which IBM is a component, dropped 19.07 points to close at 10,948.58.

The closing price gave Big Blue a market capitalization of nearly $175 billion.

The company went public in 1915. It will celebrate its 100th anniversary in 2011.

Chief Executive Officer Samuel Palmisano has shifted IBM’s focus more to services and software, which offer high profit margins. Since he became CEO in 2002, IBM shares have risen from around $104, or a gain of about a third.

Top Ten Annual Value Creators Rankings

Friday, September 10th, 2010

Companies From Emerging Markets Dominate Rankings of World’s Top Shareholder Value Creators, Says Report by The Boston Consulting Group

Top Ten Performers in BCG’s Annual Value Creators Rankings Are All Based in Asia–Five in China, Two in Hong Kong, and One Each in India, Indonesia, and South Korea

BOSTON, One side effect of the Great Recession has been to accelerate the ascent of companies from rapidly developing economies to the top ranks of the world’s creators of shareholder value, according to a new report by The Boston Consulting Group (BCG). This is the core finding of Threading the Needle: Value Creation in a Low-Growth Economy, the twelfth annual report in BCG’s Value Creators series.


(more…)

Texas opens inquiry into Google search rankings

Saturday, September 4th, 2010

Google Inc.’s methods for recommending websites are being reviewed by Texas’ attorney general in an investigation spurred by complaints that the company has abused its power as the Internet’s dominant search engine.

The antitrust inquiry disclosed by Google late Friday is just the latest sign of the intensifying scrutiny facing the company as it enters its adolescence. Since its inception in a Silicon Valley garage 12 years ago, Google has gone from a quirky startup to one of the world’s most influential businesses with annual revenue approaching $30 billion.

A spokesman for Texas Attorney General Greg Abbott confirmed the investigation, but declined further comment.

The review appears to be focused on whether Google is manipulating its search results to stifle competition.

The pecking order of those results can make or break websites because Google’s search engine processes about two-thirds of the search requests in the U.S. and handles even more volume in some parts of the world. (more…)

Facebook Failed To Kill Emails

Tuesday, August 3rd, 2010

Despite some predictions otherwise, the rise of social networking hasn’t pushed email and instant messaging into obscurity just yet says a report by The Nielsen Company.

Although both saw double-digit declines in share of time, email remains as the third heaviest activity online (8.3 percent share of time) while instant messaging is fifth, accounting for four percent of Americans online time.

The way U.S. consumers spend their Internet time on their mobile phones paints a slightly different picture to that of Internet use from computers. In a Nielsen survey of mobile web users, there is a double-digit (28 percent) rise in the prevalence of social networking behavior, but the dominance of email activity on mobile devices continue with an increase from 37.4 percent to 41.6 percent of U.S. mobile Internet time.

Americans spend nearly a quarter of their time online on social networking sites and blogs, up from 15.8 percent just a year ago (43 percent increase) according to new research released today from The Nielsen Company. Though the company did not give a breakup of the social networking sites, but considering the popularity of Facebook it is apparent where you spend most of your time.

The research revealed that Americans spend a third their online time (36 percent) communicating and networking across social networks, blogs, personal email and instant messaging.
(more…)

SAP acquires Sybase

Friday, July 30th, 2010

Jul 30, 2010 (Datamonitor Financial Deals Tracker via COMTEX) —
SAP AG, a Germany-based provider of enterprise software solutions, has acquired all outstanding shares of common stock in Sybase, Inc.

Sybase is a US-based provider of database management software systems and mobile software to manage, analyze and mobilize information.

Update on July 26, 2010:

SAP, through its wholly-owned subsidiary Sheffield Acquisition Corp., has completed its cash tender offer to acquire all outstanding shares of common stock in Sybase.

A total of 80,929,717 shares of common stock of Sybase had been tendered into and not properly withdrawn from the tender offer (including 9,293,901 shares of common stock tendered pursuant to the guaranteed delivery procedures). These shares represent approximately 92.1% percent of Sybase’s outstanding shares of common stock.

SAP intends to effect a short-form merger under Delaware law as promptly as practicable, without the need for a meeting of Sybase stockholders. As a result of the merger, the remaining Sybase stockholders (other than those who properly exercise appraisal rights under Delaware law) will receive the same $65 per share price, without interest and subject to any required withholding of taxes, that was paid in the tender offer. After the merger, Sybase will be a wholly owned subsidiary of SAP America, and Sybase shares will cease to be traded on the NYSE. (more…)

Spar Group to form new joint venture with Shanghai Wedone Marketing Consulting

Thursday, July 29th, 2010

Spar Group, a supplier of retail merchandising and other marketing services, has announced the structuring of a new joint venture in China with its new partner Shanghai Wedone Marketing Consulting.
Shanghai Wedone Marketing Consulting is a comprehensive marketing management company that provides brand communication and retail marketing management service in China.

The new joint venture will provide merchandising and marketing services and have national market presence in the country.

The new joint venture will be called SPAR (Shanghai) Marketing Management Company. Spar will own 51% of the joint venture while Shanghai Wedone Marketing Consulting will own 49% in accordance with the laws of China. The new company will provide merchandising and related marketing services to manufacturers and retailers throughout China. (more…)

Profit Growth Poses New Challenges for Asset Managers

Wednesday, July 21st, 2010

Cutting costs can be quick and easy, but it isn’t a guarantee that you can grow profitability, according to a new report by Boston Consulting Group. Asset managers that BCG tracked in 34 major markets around the world for its study, “In Search of Stable Growth: Global Asset Management 2010,” were able to reduce expenses last year by an average of 7 percent. Yet operating margins were off by 19 percent and net revenues fell by 11 percent. In tough times, the gap between top performers and those further down the scale widens, Boston Consulting Senior Partner Monish Kumar said today at a press program in New York City to discuss the results. The top 20 percent of managers produced 88 percent of net sales last year, while holding just 23 percent of AUM, the report said.

The good news: “As an industry overall, asset management remains an incredibly attractive space,” said Brent S. Beardsley, BCG partner and managing director. Operating margins, boosted by better product mix and higher AUM, were forecast for 31 to 35 percent for this year; it’s not as good as the historic peak of 40 percent back in 2006 but far better than many other businesses.

There’s still plenty of work ahead for asset managers. The report measured the value of professionally managed assets in 2009 at $52.6 trillion, up 12 percent, but only about 1 percent resulted from new net inflows. The playing field is changing. (more…)