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Bob Gach, global managing director of Accenturea€™s capital markets practice, says: a€?The industry has been slow and inconsistent in adopting digital technologies, particularly because the larger investment banks have been focused on other huge issues, such as regulatory changes, conduct, litigation and cost-cutting. Yet there is a sense of urgency among executive boards, as they realise that trading houses will in future primarily be technology firms. One of the most pressing issues is to tackle the bloated technology infrastructure built up in the boom years. Market leaders, such as JPMorgan and Deutsche Bank, spend billions of dollars on technology each year and most of them have moved some IT centres to low-cost countries and slashed staff numbers. Consultants say the sector needs a radical approach to rid itself of a legacy where each business unit has its own IT department, trading platforms and back office infrastructure. Ultimately, this will mean going from a cobweb of dozens or more trading platforms to a unified solution.
Investment banks outside the top five have already outsourced crucial parts of their trading infrastructure. Nonetheless, larger banks retain technologies they have developed in-house, while initiatives to share costs between rivals through joint ventures, partnerships and open-source projects have mostly failed.
Senior bankers say top tier banks need to become technology leaders rather than merely cutting costs.
Where trading is technology-dominated, the heads of businesses better be tech guysIn foreign exchange trading, a cocktail of regulatory investigations into alleged market rigging, mixed with a decline in revenues, has this year prompted a shakeout among once-powerful foreign exchange voice traders a€“ who work over the phone and execute deals personally a€“ while electronic trading heads become a dominant force. A security vulnerability discovered in Hewlett-Packard printers would allow hackers to steal data from the printers, cause them to burst in flames or be used as a launchpad to attack other computers connected to the printers. The flaw lies in the design of HP’s LaserJet printer models, and possibly other printer models as well, which allows the firmware on the printers to be upgraded remotely, according to MSNBC, which first reported on the vulnerability.
Each time the printer accepts a print job from a computer, it examines the job for any software updates that might be included in the request.
The researchers, conducting a quick scan of the internet, were able to find 40,000 devices connected to the internet that they said could be quickly infected in this way. The research was conducted by the computer science department of Columbia University’s School of Engineering and Applied Science, under grants from government and industry.
Researchers Salvatore Stolfo and Ang Cui showed MSNBC how attackers could use the flaw to control a printer’s fuser – which dries the printer ink once it’s applied to a piece of paper – causing it to heat up continuously until paper inside the printer turned brown and began to smoke. The academics gave a private briefing about the flaws to federal agencies two weeks ago, and also notified Hewlett-Packard, but they say there’s no easy fix for the vulnerability.
HP has disputed some of the researchers’ claims, saying that the hack would be difficult to execute.
Sterling, VA Weather Forecast Office NEW Experimental Days 4-7 Winter Storm Threat graphics! What: Starting January 4th, we began producing a new set of experimental graphics that will highlight the winter storm threat 4-to-7 days in the future. 1) This gives a quick glance to see if there are any extended winter storm threats, using a simple, commonly-used color system. The system we have developed looks at the dozens of computer model simulations of the atmosphere that are available internationally (over 60!). Note: Since this is a prototype under development, you should not rely upon it for operational decision making.
A dipperful of seawater reveals an amazing hodgepodge of microfauna, from gelatinous shape-shifters to a baby octopus. If carbon dioxide continues to rise unchecked, computer models show that acidification will deplete carbonate ions in much of the ocean by 2100, turning the waters corrosive for many shell-building animals.
If carbon dioxide continues to rise unchecked, computer models show that acidification will deplete carbonate ions in much of the ocean by 2100, turning the waters corrosive for many shell-building animals.By Jennifer S. Oceans are a natural sink for CO2, already soaking up more than a quarter of what's released into the atmosphere. Massive outbursts of CO2 and other greenhouse gases have acidified the oceans in the geologic past, but equilibrium returned as the oceans stored away excess CO2 in minerals on the seafloor. More storms are headed for the UK this week, where record winter rainfall has led to an ongoing flood crisis.


While these storms look ferocious — and they surely are to passing ships — they won't directly strike the UK. The UK Met Office on Tuesday released a statement warning of a "vigorous low pressure system" that will lead to gales and rains that will aggravate flooding, beginning on Wednesday. Here's how one of the more reliable computer models depicts the storm bisecting the UK on Wednesday, showing strong winds in red and orange shading. After bringing gusty winds and flooding rains to portions of the Lesser Antilles, Virgin Islands, and Puerto Rico, Erika is passing south of Hispaniola this afternoon. For several days, computer models have been forecasting Erika to turn toward the west-northwest and eventually northwest, around a ridge of high pressure anchored over the central Atlantic Ocean. Elsewhere in the Atlantic, a tropical wave will move off the coast of Africa this weekend, and conditions could be favorable for it to slowly develop as it makes its way across the ocean. Hurricane Ignacio is centered about 840 miles east-southeast of Hilo, Hawaii, moving toward the west-northwest at 10 mph. In the Eastern Pacific, Hurricane Jimena is centered about 1075 miles southwest of Cabo San Lucas, Mexico, moving toward the west at 12 mph. While having to cope with a host of stricter rules, a tougher capital regime and a sharp drop in revenues, trading firms also face an uphill struggle to transform themselves into technology companies. More and more trading is moving into the electronic realm, inefficient back office IT systems need urgent reform, and multiple trading platforms have to be unified. The top executive of a large European bank says: a€?We should have revolutionised the way we approach our clients.
Regulatory demands on conduct monitoring and risk management is inflating IT costs at a time when return on equity languishes at an average 11 per cent, says the Boston Consulting Group. Advisors say investment banks need to move on from such a a€?mushroom strategya€? to create centralised IT departments. One area where this is clearly visible is in the trading of fixed income and currencies, which is rapidly becoming more like equities trading, where transactions are executed electronically for a fee instead of banks acting as market makers and charging a spread for the risks they take. A thermal switch shut the printer down before the paper caught fire, but the researchers told MSNBC that other printers might indeed be used to launch fires. The company also said that HP LaserJet printers produced since 2009 do require digital signatures to verify firmware upgrades. Come Visit Us - Sat April 30th or Sun May 1st Upcoming SKYWARN Class Schedule - including Basic classes at our Open House Daily River Forecasts Available for Harpers Ferry beginning May 3rd! We already provide detailed winter watches & warnings for storms that have become credible threats within the first 3 days.
Taken together, the level of confidence & level of potential impact produce the colored level of threat for your area that is checked off as shown below. We will work together to ensure the area is getting the weather information it needs, in a way that is easy to understand and use.
Today we're pumping out massive quantities—a surge that began more than a century ago as factories, power plants, and cars began devouring fossil fuels.
Absorbed by seawater, CO2 reacts to form carbonic acid, which turns the normally alkaline water more acidic.
The satellite image from NASA shows the triple play of severe storms spinning one after the other from near Iceland to the northwest of Ireland. Instead, new storms forming along their periphery will cause heavy rainfall, battering waves and winds of up to 90 mph in parts of England and Ireland on Wednesday and Friday of this week. Powered by its own proprietary technology, Mashable is the go-to source for tech, digital culture and entertainment content for its dedicated and influential audience around the globe. As of 2pm EDT, Erika was centered just off the south coast of the Dominican Republic, and still stubbornly heading westward at 16 mph.
Strong wind shear and its proximity to the mountainous terrain of the Dominican Republic are keepING the storm weak. Over 12 inches of rain was reported in Dominica, with devastating flooding resulting in at least 12 deaths on the island.
Tropical Storm Kilo is centered about 160 miles west-northwest of Johnston Island, moving toward the west at 10 mph.


Maximum sustained winds are near 90 mph, and some additional strengthening is expected over the next 24-36 hours. Maximum sustained winds are near 90 mph, and Jimena could strengthen into a major hurricane over the next 24-48 hours. Global bank IT spending grew more than 4 per cent to $188bn this year alone, according to Celent, a research firm. So, add us to your ad blocker’s whitelist or pay $1 per week for an ad-free version of WIRED. However, much less has been said with potentially impactful winter storm threats in Days 4-7 of the forecast. By now the oceans are taking in 25 million tons a day of excess CO2, and it is starting to show. In the process, fewer carbonate ions are left floating around—and many marine organisms, including mollusks and corals, rely on carbonate from seawater to build their shells and other hard parts.
Computer models predict that polar waters will turn hostile for pteropods within 50 years (cold water holds the most CO2, so it is already less shell-friendly). This is unwelcome news to the British government, which has struggled to coordinate an effective response to the flooding, which is creeping closer to London. As Erika nears the western edge of the high pressure ridge, and a trough of low pressure enters the Gulf of Mexico, Erika should finally start to turn more towards the northwest over the next 24 hours. Across Puerto Rico and the Virgin Islands, which have also been in a severe drought this year, rainfall totals were mainly under 2 inches.
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As the level of atmospheric carbon dioxide (CO2) rises, it is not only heating the globe but also dissolving in ocean waters, turning them more acidic.
Already scientists have measured a rise in acidity of some 30 percent in surface waters, and they predict a 100 to 150 percent increase by the end of the century. Eventually, vital species will no longer be able to build or maintain their shells and skeletons.
By 2100, habitat for many shelled species could shrink drastically, with impacts up the food chain.
Eventually, a turn toward the north should happen, bringing Erika closer to the state of Florida. A tropical storm warning is in effect for Johnston Island, but conditions should start to improve over the next 12-24 hours as Kilo pulls away.
And as the acidification reaches the tropics, "it's a doomsday scenario for coral reefs," says Carnegie Institution oceanographer Ken Caldeira. Since Erika has traveled much farther to the west than anticipated, the risk to the Southeast has been greatly diminished.
Of the models that do keep the circulation of Erika intact, most of them keep it at tropical storm strength. Kilo is expected to turn more towards the northwest and strengthen into a hurricane as it heads across open waters towards the International Date Line. If current trends continue, he predicts, reefs will one day survive only in walled-off, acid-controlled refuges. As a result, it appears as though the biggest threat to Florida would be heavy rainfall and flooding. Much of South Florida is in a severe drought, so rainfall would be welcome across the area.
Meanwhile, the west coast of Florida, especially near Tampa Bay, has seen severe flooding and record rainfall this summer, so additional heavy rain would not be welcomed.



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