The Federal Tax Administration (FTA) has for the first time shared data on 2 million accounts under the framework of the new AEOI (Automatic Exchange of Information), relevant to EU states as well as a further nine states and territories (states e.g. Australia, Canada, South Korea, territories e.g. Isle of Man, Guernsey, Jersey).
Friday, 19 October 2018
Sunday, 14 October 2018
Honeywell Launches Cyber Consulting Wing to Address Customer Skills Gap
Honeywell has launched CyberVantage (TM) a cyber service for its Industrial Internet of Things customers. This includes penetration testing to identify and eliminate security weaknesses.
Announcing the move at an annual customer conference in Madrid, Honeywell Process Solutions, which is focused on process industries, said it was an "imperative" and "logical" step to take.
Process industries are concerned with processing bulk resources into other products and include the chemical and petrochemical industries.
Mike Spear is Honeywell's global operations director for Industrial Cybersecurity.
Technology partners include Intel Security which includes the McAfee business purchased by Intel in February 2011. Relevant related institutions include ICS-CERT, the Industrial Control Systems Cyber Emergency Response Team, part of the NCCIC (National Cybersecurity and Communications Integration Center).
Announcing the move at an annual customer conference in Madrid, Honeywell Process Solutions, which is focused on process industries, said it was an "imperative" and "logical" step to take.
Process industries are concerned with processing bulk resources into other products and include the chemical and petrochemical industries.
Mike Spear is Honeywell's global operations director for Industrial Cybersecurity.
Technology partners include Intel Security which includes the McAfee business purchased by Intel in February 2011. Relevant related institutions include ICS-CERT, the Industrial Control Systems Cyber Emergency Response Team, part of the NCCIC (National Cybersecurity and Communications Integration Center).
Saturday, 13 October 2018
Cryptocurrencies are Commodities
A ruling by Judge Rya Zobel in September 2018 has determined cryptocurrencies are commodities under the Commodity Exchange Act. The ruling involved an allegedly illegal cryptocurrency called My Big Coin (MBC).
Bringing Hardcore Tech In House - Apple Consumes PMIC Supplier
Apple is buying a portion of Dialog Semiconductor for $300m, a manufacturer of power management ICs (PMICs) taking control of its Swindon site as well as offices in Livorno, Italy and Nabern (where Daimler also have a research facility) and Neuaubing in Germany.
For this price, Apple will also acquire Dialog's patents and also take on its chip engineering workforce. Apple will also prepay $300m to Dialog for products to be delivered over the next 3 years, creating an outlay of $600m for Apple.
Apple's hardware chief Johny Srouji, who reports to CEO Tim Cook, praised Dialog's "deep expertise in chip development" and alluded to their engineers having a long track record supporting Apple from the early days of the iPhone.
Johny joined Apple in 2008 to lead development on the A4, the first Apple-designed System on a Chip, having previously held senior positions at Intel and IBM. He has Bachelors and Masters from Technion which has close links with Intel.
The announcement caused Dialog's shares to surge 30% given the certainty the deal places over its future. The uncertainty (which at one point led to a 20% drop in the share price) was triggered by both Dialog's dependence on Apple (from whom it gets 75% of its revenue), and Apple's decision to drop Imagination Technologies in favour of developing its GPUs in-house, creating anxiety amongst suppliers (Imagination threatened legal action against Apple before being bought out by Canyon Bridge).
Dr Jalal Bagherli, who joined Dialog as CEO in 2005 (and has also worked as CEO of Alphamosaic, a Cambridge startup building video processing chips for mobile, sold to Broadcom in 2004 for $123m), and has a PhD in Electronics from Kent University, said the deal was "in the best interests of employees and shareholders".
Dialog's financial advisors were Qatalyst Partners (the advisory firm led by George Boutros and Frank Quatrrone) and legal counsel Linklaters.
Dialog's competitors in the Smartphone PMIC market are Qualcomm (with about 40% market share), TI (20% market share), Maxim and formerly ST-Ericsson.
For this price, Apple will also acquire Dialog's patents and also take on its chip engineering workforce. Apple will also prepay $300m to Dialog for products to be delivered over the next 3 years, creating an outlay of $600m for Apple.
Apple's hardware chief Johny Srouji, who reports to CEO Tim Cook, praised Dialog's "deep expertise in chip development" and alluded to their engineers having a long track record supporting Apple from the early days of the iPhone.
Johny joined Apple in 2008 to lead development on the A4, the first Apple-designed System on a Chip, having previously held senior positions at Intel and IBM. He has Bachelors and Masters from Technion which has close links with Intel.
The announcement caused Dialog's shares to surge 30% given the certainty the deal places over its future. The uncertainty (which at one point led to a 20% drop in the share price) was triggered by both Dialog's dependence on Apple (from whom it gets 75% of its revenue), and Apple's decision to drop Imagination Technologies in favour of developing its GPUs in-house, creating anxiety amongst suppliers (Imagination threatened legal action against Apple before being bought out by Canyon Bridge).
Dr Jalal Bagherli, who joined Dialog as CEO in 2005 (and has also worked as CEO of Alphamosaic, a Cambridge startup building video processing chips for mobile, sold to Broadcom in 2004 for $123m), and has a PhD in Electronics from Kent University, said the deal was "in the best interests of employees and shareholders".
Dialog's financial advisors were Qatalyst Partners (the advisory firm led by George Boutros and Frank Quatrrone) and legal counsel Linklaters.
Dialog's competitors in the Smartphone PMIC market are Qualcomm (with about 40% market share), TI (20% market share), Maxim and formerly ST-Ericsson.
World Bank Buffers Up On Batteries in $5bn Power Play
The World Bank has announced at the UN General Assembly that it is creating a $1bn buffer of loan money to dish out for battery financing in the developing world. It is also seeking partners to provide an additional $4bn of financing ($3bn from public and private sector and $1bn from channels such as the Clean Technology Fund - whose biggest donors are the UK, US and Japan).
The KPI is to finance 17.5 GWh of battery storage capacity by 2025. This will be expanding the current capacity in developing countries today of 4.5 GWh.
Jim Yong Kim, president of the World Bank, stated "Batteries are critical to decarbonizing the world's power systems". They allow storage of renewable energy and reduce dependence on power from the grid. Banks of batteries can allow the creation of mini-grids supporting remote communities, something the World Bank is already financing.
The International Finance Corporation, part of the World Bank, predicts 40% growth in energy storage over the next nine or ten years.
The KPI is to finance 17.5 GWh of battery storage capacity by 2025. This will be expanding the current capacity in developing countries today of 4.5 GWh.
Jim Yong Kim, president of the World Bank, stated "Batteries are critical to decarbonizing the world's power systems". They allow storage of renewable energy and reduce dependence on power from the grid. Banks of batteries can allow the creation of mini-grids supporting remote communities, something the World Bank is already financing.
The International Finance Corporation, part of the World Bank, predicts 40% growth in energy storage over the next nine or ten years.
Monday, 8 October 2018
Amazon Markets ACK to OEMS Targeting Home Automation
Amazon is marketing a board with chip and antenna to OEMs looking to integrate with Alexa in the home automation space. They call it the ACK. The cost of the chip will be only a few dollars. This puts Amazon in the driving seat of home automation, alongside the likes of Google (which purchased Nest Labs in 2014), Apple and Microsoft. Hamilton Beach and Proctor and Gamble are partnering with Amazon on this. The value of Amazon's offering is not in the chips themselves, but in binding consumers to their platform, and owning the data generated off of it.
Wednesday, 19 September 2018
"Simply Not Good Enough" - $234 billion ML scandal at Danske Bank focuses on Estonian branch where red flags were raised in 2014, IT Partly Blamed
The money laundering scandal at Danske Bank (literally "Danish Bank", whose motto is "Making More Possible") led to the resignation of Thomas Borgen, CEO. Denmark's business minister, Rasmus Jarlov, expressed his disappointment, with the remark "simply not good enough". Shares fell by 8% as the bank admitted a "significant part of the payments" were suspicious. A whistleblower raised concerns in the Estonian branch as early as 2014 but this was not properly investigated and information was not shared with the board. Prior to resigning, Borgen had been cutting costs and shifting the bank's focus to wealthier clients to compete with Nordea, the Nordic region's biggest bank. IT has been partly blamed, with a decision not to integrate the Danske Bank Group platform into the Estonian subsidiary, evading AML procedures as well as transaction and risk monitoring.
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