Category: Sector

Wall Street to Cut Bonuses in 2012

According to the New York State Comptroller, Wall Street is set to reduce cash bonuses for the second year in a row. In a similar vein, the securities industry could lose another 10,000 jobs by the end of 2012, bringing the total cuts for New York in the sector to 32,000 since January 2008.

Wall Street will cut bonuses next year as revenue drops amid a sluggish U.S. economic recovery, the European debt crisis and new compensation structures to curb risk taking, New York State Comptroller Thomas DiNapoli said.

Tribute To Steve Jobs Goes Viral And Earns Hong Kong Teen A Job Offer

Hours after the passing of Steve Jobs, tributes poured in from all over the world, including one from a Hong Kong teen that quickly went viral over the internet. 

The death of the genius behind the iPhone and the Mac, who lost a long battle with pancreatic cancer yesterday at 56, prompted an overwhelming response across borders.

Asia-Pacific Content Trends: Stay Local or Go Global?

I’ve been meaning to make a few notes about IDG Connect’s recent survey on global content trends, specifically in relation to Asia Pacific.

Infographic: The Dark Side of The Patent Wars

The recent spate of patent infringement lawsuits has sent the entire tech industry into a frenzy as companies move quickly to gobble up new patents that can arm them in lawsuits for or against them. 

Related: Patent Wars: New Hope For Google With 1023 More Patents Bought From IBM

EU Moves To Curb Powers Of Big Four

 The European Union yesterday proposed radical rules to reform the audit sector, in a move that could potentially end the dominance of the accounting Big Four. 

In a draft of regulation due to be published in November, EU internal markets commissioner Michel Barnier argues that the recent financial crisis “highlighted weaknesses in the statutory audit” and proposes a series of measures that would impose significant changes to the industry. 

Computers To Replace Equity Traders

 Firms are employing more mathematicians on their trading desks, replacing the last bastion of traders and dealers.

According to a report by the BBC, fundamental research and human experience are quickly being replaced by algorithmic formulae. In what is fast becoming a trend, PhD mathematicians, and their complex computer programs, are increasingly sought after for their skill set and expertise in risk management.

China’s “Heavenly Palace” Gets Ready to Head Into Space

China will embark on its first ever unmanned space program at the end of this month, with the launch of the Tiangong-1 (the “Heavenly Palace-1”) space module from the Jiuquan Satellite Launch Centre in northwest China’s Gansu Province, said state-owned news service Xinhua on Thursday.

Chinese state media reports that the Tiangong-1 will be used as a testing site for a full-fledged space station that the country hopes to deploy by 2020.

Social Network Battle Has Begun: Google+ Opens To Public

 Google’s answer to Facebook has officially gone live, meaning that anyone can now join the web giant’s social networking platform, Google+. 

Until now, Google+ had only been available to people who received invitations from existing users or Google employees. 

In what is set to be a social network battle, Google+ is by far the search company’s most ambitious product in its attempt to challenge Facebook’s unrivaled popularity and success.

The Future of Transport? Heathrow Airport Launches Automatic Laser-guided Travel Pods

The future is, apparently, now. Barely two years ago, automatic travel pods were just part of an exhibition on the future of transport held at London’s Science Museum. Today however, they are now part of a revolutionary system adopted by Heathrow Airport to transport passengers from its terminals to the business car park 3.8km away in just five minutes.