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Industry Dynamics

Coface Appoints Hung Wong as Asia-Pacific Regional CEO

Coface announced the appointment of a new CEO for the Asia Pacific Region.  Hung Wong will be based in Hong-Kong and will be able to draw on extensive regional experience and a strong track record in sales, channel management and partner development to grow Coface’s business in the region. Hung Wong, 43, a science graduate from the National University of ... Read More »

Europatent Insolvent – Possibility of Rescue

Europatent, a German based information provider for patent information has entered insolvency proceedings and may be liquidated.  Europatent was the only information company to publish patent information online and provided search, monitoring and software services.  The company had approximately 2,000 clients. According to Guenter Gottschalk, General Manager of Europatent, the insovency procedings were initiated by the German tax authorities because ... Read More »

Standard & Poor’s Breaks into the SME Rating Segment with a ‘Ratings Lite’ Product

European regulators have given the green light for S&P to the launch of its ‘Ratings Lite’ product for SMEs.  S&P is now quietly sounding out potential clients in the UK, France and Germany for what it calls as a ‘mid-market evaluation’.  S&P’s “mid-market evaluation” requires less detailed and less regular financial disclosures to the rating agency than it would for ... Read More »

Salesforce.com Launches Salesforce1 Community Cloud

Salesforce.com launched the Salesforce1 Community Cloud, defining the next battleground for customer engagement. For the first time, companies can now create trusted destinations for customers, partners and employees that are not only personalized and mobile like LinkedIn, but connected to their business processes. Salesforce.com’s ecosystem has also embraced the Community Cloud. With 4,000 consultants dedicated to the digital experience, Deloitte ... Read More »

Alibaba Revenues Surge Ahead of IPO – Raises Valuation to $140bn

Alibaba reports a tenfold jump from mobile devices helped drive overall revenues 46 per cent higher to Rmb15.8bn ($2.6bn) in the second quarter, while net income nearly tripled to Rmb12.3bn. Analysts have focused on Alibaba’s ability to draw mobile users to its marketplace amid fierce fighting among China’s tech groups for customers glued to their smartphones. The group said a ... Read More »

Google Acquires Video and Special-Effects Startup Zync

Google has acquired video and special-effects startup Zync Inc. as it steps up competition against Amazon.com’s cloud-computing business.  Terms were not disclosed. Zync offers video and special-effects rendering that has been used in movies including “Star Trek Into Darkness” and “Looper.” The service operated on Amazon computers, but Google said it would move Zync to its own Cloud Platform. Google launched ... Read More »

Iosco Sounds Red Alert over Financial Hacking

Iosco, the International organization of Securities Commissions, has sounded the alarm about the growing danger of cyber attacks on financial markets, warning that firms and regulators around the world need to address the “uneven” response to the threat of online assaults. Greg Medcraft, chairman of the board of Iosco, predicted that the next major financial shock – or “black swan ... Read More »

Arvato Financial Invests in Financial Incubation Startupbootcamp FinTech

In keeping with the philosophy, “finance goes next generation,” arvato Financial Solutions is investing in Startupbootcamp FinTech, which specializes in supporting financial-technological innovations and the latest technologies in order to provide for and equip financial services. In doing so, this arvato subsidiary is going beyond the scope of a classic financial service provider. In the future, its goal is to ... Read More »

RR Donnelley & Sons Shuts Argentinian Print Plant

R.R. Donnelley shuttered its plant in Argentina amid tough economic times in the South American country.  Employees of the R.R. Donnelley & Sons plant on the outskirts of Buenos Aires showed up to find the gates locked and a note on the door informing them the operation is now closed. “We profoundly regret to inform you that, confronted by an ... Read More »

Data Breach at UPS Store

The UPS Store announced  August 15th 2014 that 51 of its locations experienced a security breach that may have compromised customers’ personal information, including credit and debit card data. There are 4,470 UPS franchised locations throughout the U.S., so the breach affected roughly 1% of stores. A list of the stores (the 51 locations are in 24 states) that experienced the ... Read More »

Consumer Financial Protection Bureau: Honing in on Payday Loans and Prepaid Cards

The Consumer Financial Protection Bureau (CFPB) is researching and considering whether rulemaking is warranted in the areas of payday and deposit advance products, as well as consumer overdraft products.  The CFPB held a field hearing in March 2014 in Nashville, Tennessee, and also released a report that analyzed payday lending and found that four out of five payday loans are rolled over ... Read More »

Google X Buys Gecko Design

Google has acquired Gecko Design, which will become part of the Internet company’s unit developing cutting-edge products like Glass and balloons for Internet access. Terms of the deal were not disclosed. Gecko President Jacques Gagne and its four other employees will join Google’s “X” research division next month. In addition to Glass and Internet balloons other projects at Google X include self-driving ... Read More »

Print Continues to Decline – Good News for Trees

Traditional printing dipped slightly last year in USA while POD saw sharp decline.  This is bad news for printing industry and paper mills.  Good news for the environment Production of print books by traditional publishers in the USA slowed slightly in 2013, but non-traditional, mainly print on demand (POD), production saw a sharp dip. According to figures from Bowker, a ... Read More »

China Finance Online Launches Web-Based Securities Trading Service Platform

China Finance Online Co. Limited announced that it has launched China’s first independent web-based securities trading platform, “Zhengquantong (“Securities Master”)”, on the leading financial portals it operates, www.jrj.com and www.stockstar.com. Securities Master is the product of a new strategic partnership China Finance Online has entered into with the largest brokerage firm in China, CITIC Securities Co., Ltd. (SHA: 600030) (“CITIC”), to seamlessly integrate China Finance Online’s ... Read More »