Financial Services

Former TEAC Australia CFO guilty of financial dishonesty

Former TEAC Australia CFO guilty of financial dishonesty

Kenneth David Evans, the former chief financial officer and director of TEAC Australia Pty Ltd, has been sentenced to two years and six months imprisonment, wholly suspended for three years, in the County Court of Victoria following an investigation by ASIC.
Lilia Guan Mar 3 2008 2:51PM Financial Services
Dell quarterly profits lower than expected

Dell quarterly profits lower than expected

Dell shares have fallen by four per cent after the vendor missed quarterly profit estimates..
Guy Dixon Mar 3 2008 2:48PM Financial Services
IBM sets aside US$15 billion for stock repurchase

IBM sets aside US$15 billion for stock repurchase

IBM's board of directors has authorised US$15 billion in additional funds for use in the company's stock repurchase programme..
Mar 3 2008 2:48PM Financial Services
IBM and Level 3 ink patent sharing deal

IBM and Level 3 ink patent sharing deal

IBM has entered into a patent cross-licensing agreement with internet backbone company Level 3 Communications..
Robert Jaques Mar 3 2008 7:19AM Financial Services
DoJ clears Oracle's BEA acquisition

DoJ clears Oracle's BEA acquisition

The US Department of Justice and the US Federal Trade Commission have effectively cleared Oracle's proposed acquisition of BEA Systems..
Robert Jaques Feb 29 2008 3:38PM Financial Services
Commander reports loss of $245M in half yearly results

Commander reports loss of $245M in half yearly results

Australian service provider Commander Communications Limited’s financial results for the half year ending 31 December 2007 were less than impressive as the service provider announced a net loss of $245 million.
Lilia Guan Feb 29 2008 3:16PM Financial Services
Global mobile sales 'immune to recession'

Global mobile sales 'immune to recession'

Predictions of a global economic slowdown have prompted Gartner to suggest that the smart money will be going into mobile phones..
Iain Thomson Feb 29 2008 7:22AM Financial Services
Melbourne IT's revenue up by $154.4M

Melbourne IT's revenue up by $154.4M

Australian domain name registration and online business provider, Melbourne IT Limited has continued its track record of strong financial performance announcing its result for the full year ended 31 December 2007
Lilia Guan Feb 20 2008 7:59AM Financial Services
Microsoft to borrow money to cover Yahoo bid

Microsoft to borrow money to cover Yahoo bid

Microsoft's imminent acquisition of Yahoo has the potential to significantly alter the power play of the Internet; but just how keen is the software giant?
Leanne Mezrani Feb 6 2008 2:07PM Financial Services
Google founders in 20-year pact

Google founders in 20-year pact

The co-founders of Google made a pact pledging to work together for 20 years shortly before the company's IPO in August 2004, according to a report in Fortune magazine..
Guy Dixon Feb 4 2008 7:31AM Financial Services
Microsoft offers US$44 billion for Yahoo

Microsoft offers US$44 billion for Yahoo

Microsoft has offered to buy Yahoo for US$31 per share, a 62 per cent premium on the closing price of US$19.18 on 31 January, equating to a total equity value of US$44.6 billion..
Feb 2 2008 1:36PM Financial Services
Lenovo sales up 15 percent, sells mobile phone division for $100M

Lenovo sales up 15 percent, sells mobile phone division for $100M

Despite strong financial results for its third fiscal quarter of 2007/08 and increased PC shipments in Asia Pacific (excluding China), Lenono has sold its entire interest in its mobile handset business to a private equity group led by Hony Capital, the private equity arm of Legend Holdings, for US$100 million.
Lilia Guan Jan 31 2008 1:46PM Financial Services
Angels give wings to Australian start-ups

Angels give wings to Australian start-ups

As a nation that is home to a well-developed education system and world-class research institutions, Australia is often lauded as fertile grounds for innovation. But the outlook for young entrepreneurs may not be so rosy.
Liz Tay Jan 30 2008 4:13PM Financial Services
Nokia has another cracking quarter

Nokia has another cracking quarter

Nokia racked up sales of €15.7bn in the fourth quarter of 2007, taking it to €51.1bn for the full year.
a Staff Writer Jan 29 2008 2:20PM Financial Services
Engin suffers $6.7 million loss during ‘07

Engin suffers $6.7 million loss during ‘07

Things aren’t looking good for Australian VoIP vendor Engin. According to the company’s audited draft financial statement for the half year ending December 2007, Engin showed a loss of $6.7 million dollars.
Lilia Guan Jan 29 2008 2:17PM Financial Services
Mobile entertainment market to triple

Mobile entertainment market to triple

The global mobile entertainment market is set to rise from US$20bn in 2007 to more than US$64bn by 2012, according to Juniper Research.
Staff Writers Jan 25 2008 3:13PM Financial Services
Apple logs another record quarter

Apple logs another record quarter

Apple has continued its record-breaking run with its best ever quarterly results..
Shaun Nichols Jan 24 2008 7:30AM Financial Services
LongReach sells ServicePoint for $9M

LongReach sells ServicePoint for $9M

ASX-listed services provider, LongReach Group has agreed to sell its ServicePoint business for $9 million to management consulting and systems integration company, The Citadel Group.
Staff Writers Jan 15 2008 2:55PM Financial Services
Nintek liquidated after relationships fail

Nintek liquidated after relationships fail

Forums have lit up with activity since it was announced on January 2 that Nintek is in liquidation.
David Field , Josh Collins Jan 9 2008 2:45PM Financial Services
Navman Australia penalised $1.25 million for resale price maintenance

Navman Australia penalised $1.25 million for resale price maintenance

The Federal Court imposed penalties totalling 1.36 million on GPS equipment vendor Navman Australia, after it was revealed the vendor and its employers had engaged in resale price maintenance.
Lilia Guan Jan 7 2008 3:48PM Financial Services

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