Apple surges, Yahoo slumps

Apple are one of the few sure things in these uncertain economic times but even they surpassed themselves this week.

Shares soared after strong demand for iPhones and iPads lead them to report a 73 per cent rise in quarterly revenue to $46.33 billion, comfortably beating Wall Street analyst estimates. Net profit rose 118 per cent to $13.06 billion.

In stark contrast, Yahoo reported a drop in net revenue and profit for the fourth quarter, just days after co-founder Jerry Yang resigned from the company. New chief executive Scott Thompson said Yahoo needs to "do better" and "get innovative products that matter into the market." He joined from PayPal (where he was president) earlier this year, an appointment which raised many eyebrows, not least at the online payments outfit with John Donahoe, interim president, describing his resignation as a shock.

There's a scene in the Willy Russell play, Educating Rita, where university lecturer Frank asks his student Rita to leave England behind and move to Australia with him, remarking: "It would be good to leave a country that's finishing for one that's beginning." That quote came to mind when I first heard of Thompson's departure from PayPal, although the reverse is true in this case. That is, leave a company where business is booming and the future holds all kind of possibilities and join one that has all the signs of a sinking ship.

BTW, our friends at Retail Systems have provided a glimpse into PayPal's future - the move by the company into the bricks and mortar world.

2012 FStech Awards: the shortlist arriveth

Phew! After much huffing and puffing, scratching of head and nashing of teeth (have I milked it enough?), I've finally completed the shortlist for the 2012 FStech Awards.

You can find it here.

Congratulations to all those who made the final cut. I've been really impressed by the standard of entries and now look forward to meeting with the judges to decide the winners. Also look forward to seeing many of you on the big night - Wednesday, 28 March at the London Lancaster Hotel.

2012 FStech Awards: the shortlist cometh

Well, the entry deadline has come and gone and now I'm busy putting together the shortlist for the 2012 FStech Awards.

It's proving to be something of an epic undertaking as we've had a record number of submissions. This is my first FStech Awards and I have to say that I've been really impressed by the standard of entries - some great examples of how financial institutions (such as Deutsche Bank, RBS, Lloyds Banking Group and BNP Paribas) are making innovative and effective use of technology in such areas as social media, mobile banking, payments, datacentres and customer service.

The shortlist will be available early next week. Judging will take place in mid-February and the big night will be on 28 March at the Lancaster London Hotel. Whilst this is my first awards proper, I have been to the last few events, to hand out an award on behalf of sister title, Retail Systems, so I can confidently say we're in for a great night. Look forward to seeing many of you there.

Top of the flops

Happy New Year! Hope you had a great break and are looking forward to what will be an immensely challenging but no doubt fascinating year.

I'll start 2012 on a bit of a downer (no booing at the back please). Forbes has unveiled its latest top 100 most innovative companies. Not a bank in sight. Depressing stuff.

So here it is Merry Christmas

This will be my last blog post of 2011 (no cheering, please!) I took the November/December issue of FStech to press earlier this month and my last day in the office is this Friday. With the mag out of the way and Christmas fast approaching, this week is basically a stream of lunch meetings and Yuletide parties, including SourceWire's annual press do at Ye Olde Cheshire Cheese in Fleet Street. It’s a tough job but…

I’ll sign off by wishing you all a Merry Christmas and Happy New Year. It's been an eventful year for yours truly. I started 2011 as Editor of sister title Retail Systems and end it at the helm of FStech. I've thoroughly enjoyed the first six months in charge and am looking forward to kickstarting 2012 with the FStech Awards (shortlist to be sorted, followed by the judging day in early February...lots to get through). Thanks to all who have supported and worked with the title this year, including Paul Rodgers for doing a great job of chairing our Payments Technology Conference in November; and those who have agreed to be on the judging panel for the aforementioned awards: that man again, Paul Rodgers; Wil Cunningham, Disaster Recovery Extension Program - Delivery Lead, Lloyds Banking Group; Ramzi Musallam, Information Security Consultant, Greatpark Consulting; Neira Jones, Head of Payment Security, Barclaycard; Kevin Brown, Head of Global Product Management, RBS Global Transaction Services; Tim Holman, President, ISSA-UK and CEO 2-sec; and Glenn Murphy, Head of IT, London & Capital.

Right, I’m off to gorge myself on mince pies and mulled wine. Happy Christmas and here’s to a prosperous 2012!

Is that all there is?

RBS: Inside The Bank That Ran Out Of Money, on BBC2 earlier this week, was an exceptionally well-made documentary. It didn't tell you anything new about the RBS story but it did skillfully weave together stock footage, archive interviews, talking heads and the occasional witty flourish (e.g. Peggy Lee singing Is that all there is? over the end credits) to produce an engrossing programme.

Plus there was the bonus of previously never-before-broadcast footage of Fred the Shred's final meeting with RBS shareholders. It's immensely satisfying to see him face up to an angry investor demanding an apology. The then chairman Sir Tom McKillop had already apologised but when an hour passed without a similar gesture from Fred, said investor grabbed the microphone and stated that people wanted to hear the word sorry pass his lips. "I wouldn't want there to be any doubt. I am extremely sorry," says a squirming Fred. Whether he meant it is left for you to decide - the programme has a slightly mocking tone when covering the record loss of £28 billion and Government bail-out and the fact that one of the central players walked away with a fat pension and knighthood intact. But ultimately the narration is coolly detached, rather than Michael Moore style lecture/rant. And all the better for it.

Watch it here.

Ask not what Facebook can do for you...

Anyone else watch Mark Zuckerberg: Inside Facebook on BBC2 at the weekend? A hit and miss affair, the programme was presented by Emily Maitlis who charted the rise of Facebook, from humble beginnings to its current position of online behemoth which has worked its way into the lives of 800 million people.

Maitlis had secured a rare interview with Zuckerberg. So far, so good. But there were a couple of snags. Whilst the programme made some interesting points about the cultural impact of Facebook, it was less successful when tackling the man who created it. Over the course of an hour, we were given about five minutes of Zuck being interviewed by Maitlis and saying 'cool' and 'awesome' alot and waffling on about making society more open - the rest of the time she devoted to an origins story, visiting old haunts and interviewing college professors and friends. The origins thing has already been done, with considerable skill and style by The Social Network. The makers acknowledged as much, throwing in a few clips from the movie and trying to pick holes in it, citing various inaccuracies without really backing them up.

Still, it was worth sitting through for a couple of reasons. Firstly, Maitlis finally landed a blow (around the 50 minute mark) when she quizzed Elliot Schrage, Facebook's VP public policy, on the site's 'Like' button. If you click 'Like' on a brand or product, you could be unwittingly promoting it to your friends in their sidebars. Is it right that a person is used to promote a company when they have not agreed to it, she asked. "Let's pause," said Schrage, with a 'why is the nice, attractive lady from the Beeb ambushing me' look on his face. "You're asking a profound question. What's advertising?" He then attempted to fob her off with talk of  'affirmative linking' and 'ranking mechanisms'. Before excusing himself and jumping out the window...OK, I made that last bit up but watch it and you'll see what I mean.

Secondly, is Facebook really a force for good as Zuck would have us believe? Is it, to quote COO, Sheryl Sandberg, "better if we're all more open and connected" when the facilitator is a multi-billion dollar company dogged by criticism of its privacy policy? For all the talk of a revolution in the way we communicate, is the site essentially just a means of escape for people when they're bored and lonely? And, as such, has it become a master of disguise, mercilessly exploiting its users as it morphs from social to commercial network? As one wag put it: "Ask not what Facebook can do for you, ask what you can do for Facebook."

Sadly, the programme left it too late to really get to grips with these questions, but it did at least provide some interesting food for thought. If you missed it, you can watch it here.