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Articles about Deloitte

Broke - empty pockets

Some first-wave big data projects 'written down' says Deloitte

Consultancy outfit Deloitte reckons early big data projects have had to be written down because they failed, thanks in part to a “buy it and the benefits will come” mentality. The source of failure was sometimes difficulty making open source software work and/or integrate with other systems, Deloitte Australia's technology …
Simon Sharwood, 19 Feb 2014

Deloitte in the saddle at Comet, seeking stability - and a buyer

Deloitte said its first task as Comet's administrative receiver is to steady the ship and then seek anyone interested buying an ailing veteran retailer, hamstrung by huge overheads and facing fierce competition from leaner online rivals. Good luck with that. After days of industry chatter, Comet finally called in the receivers …
Paul Kunert, 05 Nov 2012
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Comet administrator Deloitte triggers ejector seats under 330 staff

Comet administrator Deloitte has swung the axe for the first time since it was brought in to take control of operations with 330 support staff getting the chop. Biz advisory outfit Deloitte confirmed 99 staff at the Rickmansworth HQ, 53 from the operation in Hull and 42 in the call centre in Clevedon were told of their fate on …
Paul Kunert, 12 Nov 2012
Orange Credit Card

Bank of England: What's all this then, CHAPS? Review to get a grip on IT cockup

The Bank of England has opened an investigation into the IT failure of its bank-to-bank payment processing system, which handles £277bn a day. Last month the bank's Clearing House Automated Payments System (CHAPS) was temporarily suspended. This was due to "technical issue related to some routine maintenance" on its Real Time …
Kat Hall, 25 Nov 2014
Terror at 20,000 feet

'Everywhere I look ... it's bad': HP claims email shows Autonomy CFO panic, pre-buyout

In the latest court filing in HP's rancorous legal squabble with former Autonomy execs, the tech giant has revealed what it describes as a damning email from ex-Autonomy CFO Sushovan Hussain, prompting a spokesperson for the latter to again accuse HP of "smear tactics." HP is seeking to settle a lawsuit brought by its own …
Neil McAllister, 06 Sep 2014
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Comet’s might-have-been saviour 'not paying biz debts'

Clive Coombes, the man who tried and failed to save the Comet brand, appears to be struggling to keep his existing business Lewisons Wholesale (LS) afloat, with supplier debts now mounting. The electronics retailing entrepreneur had planned to buy the name of the once mighty High Street giant that went under in late 2012, but …
Paul Kunert, 20 Nov 2014
HP

Judge nixes HP deal for director amnesty after $8.8bn Autonomy snafu

HP's plan to defend its directors in the Autonomy scandal – and present a united front against the Brit business's former execs and their auditors – has been thrown into doubt by a US judge. Last month HP announced a settlement with lawyers representing its own shareholders, who had brought legal action against HP: the …
Iain Thomson, 25 Aug 2014

HP 'KNEW' about Autonomy's hardware sales BEFORE the whistle blew: report

HP knew about Autonomy's hardware and reseller sales long before a whistleblower pointed them out and the company wrote down its acquisition by $8.8bn, the Financial Times has claimed (paywall), citing emails and Deloitte audit reports. HP has accused Autonomy of "accounting improprieties, misrepresentations and disclosure …
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Cash-strapped Comet sheds ANOTHER 735 staff

Penniless Comet handed P45s to 735 workers in a second round of cuts across the business today, administrator Deloitte has confirmed. The list of casualties includes 603 employees in the home delivery network, which operates 12 UK hubs and will continue with a skeletal staff, and 132 head office and support roles. The cull, the …
Paul Kunert, 19 Nov 2012
Square Group new premises

Comet brand yanked from its grave: Tycoon vows to open EIGHTY new stores

Electronics retail entrepreneur Clive Coombes is trying to revive the Comet brand name by launching 80 stores over the next two years - and is looking for foolhardy brave investors to support him. In his blog, written in the third person, Coombes, who tried but failed to buy Comet from administrator Deloitte, revealed he has …
Paul Kunert, 19 Aug 2013
Gun and dollars

Ex-Autonomy execs: HP's latest wad blows apart fraud allegations

Another week, another round in the ongoing bunfight between HP and the former management team of Autonomy. This time, the ex-Autonomy bods have claimed that new court documents filed by HP prove the latter has misrepresented the reasons why it had to write down $8.8bn in its botched acquisition of Autonomy in 2011. In a lengthy …
Neil McAllister, 12 Sep 2014

Local gov broadband provider in talks with 'interested' bidders

Execs and private equity backers at broadband network service provider Updata Infrastructure UK are "actively" talking to a number of third parties who they say have expressed an interest in the business. San Francisco-based LMS Capital splashed £6.2m for a 53.3 per cent stake in Updata during the summer of 2009, in support of a …
Paul Kunert, 15 Nov 2013

Bolton biz kingpin tables '7 figure' offer for Comet website

The future of Comet's stores hangs in the balance: but the business brain behind Appliances Online has tabled a million pound plus bid for the website part of the drain-circling retailer. As previously revealed, Dixons and Maplins are understood to have expressed interest in only a handful of Comet stores as administrator …
Paul Kunert, 23 Nov 2012
closed_sign shut down under collapsed liquidation

Cashless Comet to close 41 stores, axe 500 jobs

Collapsed electricals retailer Comet is to shutter 41 stores over the next fortnight, administrator Deloitte has confirmed. So far Dixons Retail and Maplin are among the rivals circling the fallen retailer, although it appears the two are interested in just a handful of stores. As a result the closing down process began at 27 …
Paul Kunert, 19 Nov 2012

Did HP just tip its hand on Autonomy? Spoiler: It was a busted flush

Autonomy has come under fire for a software deal between itself, reseller MicroTechnologies, and the Vatican – but all is not as it seems. A report published by Reuters on Friday attempted to shed light on HP-owned Autonomy's strange deal to sell technology worth $11.55m to MicroTechnologies, which was bidding on a contract to …
Jack Clark, 18 Jul 2014
Comet_EV_01

Comet train set for SMASH, staff can only hope to be in right carriage

Penniless Comet's network of UK stores is on the brink of break up as staff enter a "collective consultation" over potential redundancies. In a letter to the electrical chain's workers, administrator Deloitte warned that if it is unable to sell the business as a going concern, it will be forced to flog bits and pieces to …
Paul Kunert, 15 Nov 2012
Bloody Serial Killer Shower Curtain

Microsoft may slash price of Windows 8.1 on cheap 'slabs

Microsoft has reportedly slashed the price of Windows 8.1 for anyone willing to install the operating on a device that sells for fewer than $US250. Bloomberg cites “people familiar with the matter” as saying Microsoft usually sells Windows for $50 a pop, but is floating the idea of a $15 price tag for OEMs working on low-priced …
Simon Sharwood, 24 Feb 2014
Administration

Cawing retail vultures circle dying Comet, might rip some chunks off

Both bricks-and-mortar and web-based traders are looking to pick through the bones of sickened retail outfit Comet. The receivers Deloitte landed at Comet's doorstep on 2 November to take over operations and have set about cutting costs and finding buyers for the business, which is likely to be broken up. According to sources …
Paul Kunert, 14 Nov 2012
Euro notes

Termination charges drop smacks Vodafone and EE in the WALLET

The reduction in how much mobile networks receive for handling incoming calls has hit both Vodafone and EE so hard that they have both separated out the charges in interim financial reports. Brit multinational Vodafone announced a global drop in its revenue of 4.2 per cent for the quarter while UK mobile firm EE's financials saw …
Simon Rockman, 25 Jul 2014
closed_sign shut down under collapsed liquidation

Taxpayers to cough for Comet staff redundo

The last stores of the once mighty High Street giant Comet are to close by tomorrow but the saga looks set to continue, with taxpayers potentially having to step in to cover redundancy costs. Administrative receiver Deloitte, called in by the ailing retailer's parent Hailey Acquisitions Ltd on 2 November, had been holding talks …
Paul Kunert, 17 Dec 2012
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Comet crashes to Earth: 125 stores wiped out

Comet administrator Deloitte will shut 125 of the retail chain's stores, putting thousands of people out of work just before Christmas. The receiver, appointed at the start of this month, is unable to find a buyer for the business as a going concern. The closures will take place over the next fortnight, leaving about 70 outlets …
Paul Kunert, 28 Nov 2012
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Comet staff should be for life, not just for Christmas

Dixons Retail is throwing a lifeline to beleaguered Comet staff awaiting the arrival of their P45s by offering some of them seasonal work in its PC World and Currys stores over the peak Christmas season. Administrator Deloitte took control of Comet late on Friday after the ailing retailer ran into insurmountable liquidity woes. …
Paul Kunert, 07 Nov 2012
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UK gov probes Comet crash: Public, private sectors LOST £257m

The Department for Business, Innovation and Skills plans to probe the administration of Comet, whose collapse has left the private and public sector out of pocket to the tune of £257m. The Insolvency Service is to launch the investigation after receiving numerous complaints from MPs just as the doors close on Comet's last 49 …
Paul Kunert, 18 Dec 2012

Bargain! Desperate Comet SLASHES price of £4,400 iPod Nano

Comet has generously slashed 97 per cent off the price of an Apple iPod Nano, touting the pocket-stroker at £129 rather than an eye-watering, er, £4,444. Until now the chain's clearance sale may not have impressed deal-hungry shoppers, but this saving was sadly too good to be true. The photo below shows a standard Nano model on …
Paul Kunert, 09 Nov 2012
Comet_EV_01

Comet confesses: The receivers are among us even now

Comet has finally confirmed that administrative receivers will be landing on its door step early next week. It is understood that Deloitte will review the options for the ailing retailer which include selling it as a going concern, scaling it back or liquidating it. A spinner at the chain told The Channel: "Comet Group Limited …
Paul Kunert, 01 Nov 2012
Mike Lynch

'Brit Bill Gates' Lynch: Only Mad Leo Apotheker understood Autonomy

The origins of Autonomy's declining fortunes can be traced back to the moment HP axed its former hapless CEO Leo Apotheker, claims Mike Lynch, the founder of the Brit software firm. This comes as Autonomy is accused of "accounting improprieties and misrepresentations ... prior to 2011 acquisition by HP" by the Palo Alto tech …
Paul Kunert, 22 Nov 2012
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HP knew Autonomy was a duff buy, claim HP shareholders in $1bn suit

HP ignored numerous warning signs about the state of Autonomy's finances and accounting irregularities at the firm before acquiring it for $11bn, shareholders have alleged in a $1bn lawsuit. The investors are suing HP's current CEO Meg Whitman, her predecessor Leo Apotheker, former HP chairman Ray Lane and Autonomy founder Mike …
Mike Lynch

UK financial watchdog bends Autonomy over for fresh probe

HP-owned software house Autonomy faces more probing, this time by the Financial Reporting Council (FRC). The British corporate governance watchdog announced today it will investigate allegations that the Brit biz overinflated its value by $5bn just before Hewlett-Packard bought it in 2011. HP's buy-up of Autonomy for $10.7bn is …
Anna Leach, 11 Feb 2013

UK.gov provider frees Microsoft partner TES from administration

Business process outsourcing firm Liberata IT Solutions, which is responsible for several large government contracts, has devoured Microsoft Gold partner Trinity Expert Systems (TES) in a pre-pack administration. This came after TES succumbed to pressing cash-flow issues. Coventry-based TES called in the receivers Deloitte …
Paul Kunert, 11 Oct 2013
homeless man with sign

K3 chatted up as admirers open their wallets

Mid-market ERP specialist K3 Business Technology Group is talking to a number of suitors interested in buying the business, it revealed in a London Stock Exchange filing this morning. The board kickstarted a strategic review of the biz at the start of December after PJ Claesson, the firm's largest shareholder (19.5 per cent), …
Paul Kunert, 01 Mar 2012
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Chief leaves Brit IT giant Phoenix after just 15 months

Phoenix IT Group chief exec Dave Courtley has quit the firm after less than 15 months in the role, the LSE-listed IT services company confirmed this morning. The former Fujitsu Services bigwig rocked up at Northampton-based Phoenix in July 2011 replacing long-serving boss Nick Robinson, who stepped down after 18 years at the …
Paul Kunert, 04 Oct 2012

'I still get on the phone for a $5k deal' - NetSuite CEO's anti-SAP mission

California-based Salesforce has been an unstoppable force in Software as a Service (SaaS) for 14 years. It pulled in $3.05bn in revenue last year, and just booted rival enterprise tech maker SAP from its slot as the world's number-one customer relationship management software (CRM) company. But there’s another SaaS company that …
Gavin Clarke, 01 May 2013
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Consultants bag £37m from failed e-Borders contract

The Home Office paid more than £37m to just one consultancy for advice on the e-Borders contract, which was torn up by the coalition after the election. The advisory payments to Deloitte compare to the £750m cost of the floundering project to record details of every traveller into and out of the UK. Trusted Borders, the …

Amazon-bashed HMV calls in administrators, seeks buyer

HMV sought insolvency protection last night, becoming the second big name retailer on the battered British High Street to come close to defeat in the first few weeks of 2013. This comes after the music retail giant spent several years struggling to turn its business around as customers have increasingly shifted to shopping …
Kelly Fiveash, 15 Jan 2013

HP: AUTONOMY 'misrepresented' its value by $5 BILLION, calls in SEC

Hewlett-Packard dropped a bomb this morning in reporting its financial results for its fiscal 2012 year, stating that the British software company Autonomy, which it acquired a little more than a year ago, "outright misrepresented" its own value - leading to a colossal $8.8bn writedown for HP today. In a conference call ahead of …

Fanboi droves use iPads to buy more iPads on Black Friday

Apple's iPad was used by one in every 10 online shoppers on Black Friday, according to IBM's Holiday Benchmark report. Continuing the trend of opening the supposed sales extravaganza earlier, online shopping grew 17.4 per cent on Thanksgiving compared to the same day a year earlier and Black Friday online sales were up 20.7 per …
Paul Kunert, 26 Nov 2012
management management1

Tick-tock! 40% of PCs start Windows XP malware meltdown countdown

With one year to go until Microsoft kills free support for Windows XP, if you haven’t got a migration plan in place it’s time to start doing something about it... but don't panic, say the migration experts. One year from today, on 8 April 2014, Microsoft will stop fixing broken code and no longer release security patches for …
Gavin Clarke, 08 Apr 2013
globalisation

Defra gives IBM 21% MORE dosh this year

IBM has increased its dominance of the Department for Environment, Food and Rural Affairs' (Defra) budget, after a 21 per cent increase in its income from the department. The firm now receives nearly a quarter of Defra's £398.7m spending with external suppliers. Defra paid the firm £99.1m in 2010-11, according to figures …
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IBM services chief and CEO contender Daniels retires

Mike Daniels, a career IBMer who has been running all or most of Big Blue's Global Services behemoth for the past several years, has said uncle and will be leaving the company. IBM's current CEO, Ginni Rometty, beat Daniels and other graybeards for the top job in October 2011 and rearranged management appointments last year …
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Rampaging Brit looters cost Dixons £4m

Dixons Retail has fared relatively better than High Street rivals after trading results today showed that its fiscal half-year losses narrowed substantially in the UK. The firm posted underlying losses of £3.9m in the 24 weeks to 15 October, down from £10.7m a year ago - but the consumer meltdown, which forced a Best Buy retreat …
Paul Kunert, 24 Nov 2011
hands waving dollar bills in the air

DWP cuts spending with top IT supplier HP by 4%

The Department for Work and Pensions has cut spending in 2010-11 with HP and BT, but increased it with Atos Origin. HP Enterprise Services remains the Department for Work and Pensions' (DWP) second largest supplier, despite a drop in the government's spending with the firm. It received £629.4m in 2010-11, according to figures …
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Report calls for mandatory shared back office

Legislation should be used to force local authorities to share back office facilities, according to a new report. Stop, Start, Save - Shared Service Delivery in Local Government, published by the Deloitte consultancy, says councils have been incapable of delivering the level of savings achieved in the private sector and that, …
Kable, 14 Jan 2010
Comet Siding Spring. Pic: NASA

Why did Comet fail? Hint: It wasn't just the credit insurers

Comet's fiscal light was burning less brightly well before OpCapita entered its orbit, but the venture capitalist's involvement snuffed it out entirely. Signs that all was not well can be traced back to 2008, when Comet's profit before tax tumbled from £56m to £25m. In successive years it posted losses of £8m, £3m and finally £ …
Eddie Pacey, 22 Nov 2012
cloud

Satyam rushes into arms of new auditors

Troubled outsourcer Satyam has chosen two new auditors to help management find out just how bad its financial situation is after founder and chairman Ramalinga Raju admitted he had overstated profits and cash by $1bn. KPMG and Deloitte were named in several reports as the new auditors, although a spokeswoman for Deloitte …
John Oates, 14 Jan 2009
Pound Sterling

Stone catches fallen Rock

Stone Group, reseller to the public sector, has bought high-end laptop maker Rock Group which went into administration earlier this month. Staffs-based Stone will keep the Rock brand and its focus on high-end laptops and games machines. Stone will hope to sell more of these machines to its traditional public sector customers. …
John Oates, 21 May 2008
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Ballmer waxes lyrical about Windows 7 double bubble sales

Microsoft’s shouty boss Steve Ballmer made a few big noises about Windows 7 sales yesterday, by declaring it was jumping off retail shelves at twice the level of its unloved Vista operating system. However, he didn’t reveal any sales figures during the firm’s annual shareholder meeting in Bellevue, Washington on Thursday. “ …
Kelly Fiveash, 20 Nov 2009
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Indian government will not bail out Satyam

The Indian government has ruled out any bailout of struggling outsourcer Satyam. Ashwani Kumar, minister of state for industry, told The Times of India: "This government is not going to directly or indirectly subsidize wrong-doing and fraud in Satyam." He said the government would do what it could to save jobs at Satyam, and …
John Oates, 15 Jan 2009

People are biggest threat to IT security

The biggest threats to the security of financial institutions' electronic systems are the mistakes that people make, according to a survey (pdf) of banks' IT security. The survey by consultancy Deloitte has found that customers are the common weak link in allowing the viruses, worms, and hacking attacks on to financial services …
OUT-LAW.COM, 20 Sep 2007
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Big boys turn backs on offshoring

Many of the world's largest organisations are turning their backs on outsourcing and one in four are actively bringing services back in-house. A survey from Deloitte Consulting reveals that 70 per cent of respondents have had significant negative experiences with outsourced projects. Just under half, 44 per cent, did not see …
John Oates, 19 Apr 2005
globalisation

Elonex sold to stationer

Administrators have sold Elonex Plc to Newcastle based stationery and printer cartridge remanufacturing firm Afic. Afic founder and managing director Yuval Ella bought Elonex Plc following negotiations with administrator Deloitte Touche over the last week. A newly-formed Afic group company acquired the services and warranty …
Mark Ballard, 05 Jul 2006

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Chris Mellor

Tandberg and Sphere3D deals offer hope after 18 bad ones
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No, silly... he was the fall guy for years of Finnish folly
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Frodo and the Ring
Microsoft's strategy is to make Store apps popular. Good luck with that