January 23rd 2014- At the Cyber Defence and Network Security conference, London, Andrew Gracie, executive director, Bank of London gave a speech (.pdf) about the cyber threat that looms over the Financial sector. He said that the sector must contemplate the possibility that core functions in firms, the financial market

Following Russia’s annexation of Crimea last year, tech companies are blocking transactions in the region, upholding the U.S. sanctions on Crimea. These blocks have been brought about to exert pressure on Russia which is in conflict with Ukraine over Crimea. Both the U.S. and Europe support Ukraine in the conflict.

eBay, one of the largest e-commerce companies has announced a spinoff from its payments service PayPal. Ahead of this move they plan to cut about 7 percent of its staff spreading across various departments. John Donahoe president and CEO of ebay Inc said, “We plan to reduce our workforce globally

Y Combinator backed startup True Link has raised $3.4 million from a group of investors led by Cambia Health Solutions. Kapor Capital, Collaborative Fund and Generator Ventures are also participants. Cambia Health Solutions is a non-profit total health solutions company based in the Pacific Northwest/Intermountain region, serving consumers and communities

There are unconfirmed reports about Google procuring mobile commerce company Softcard previously known as ISIS. Catching up with Apple Pay, Google is looking to invest in a similar mobile pay service for Android users. Softcard, similar to PayPal, Google, and Dwolla etc., has been trying hard to hold its ground

The largest U.S. banks Citigroup Inc., Bank of America, J.P. Morgan, Wells fargo and Goldman Sachs reported their earnings in the last few weeks. It was a rather disappointing last quarter as the earnings fell short of investor expectations. Shares of Bank of America and Citi are both down more