Froodee

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Firms slow to attend to security flaws

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A study conducted for security software firm McAfee indicates that firms are usually slow to implement security patches on their software, with 19% taking more than a week to patch or update for security. The research found out that 27% take two days to update their software, while almost half say they do not protect themselves against security threats.

Many businesses do not protect themselves by installing software patches and updates as soon as they are published by the software companies. Hence, hackers can easily and regularly exploit these security holes and do all sorts of malicious activity, such as send spam, viruses and other malicious code through companies’ computers.

In setting up a business, especially one that relies heavily on e-commerce or e-services, it is important to keep one’s systems protected. Companies should set up anti-virus and anti-malware software, and should update their systems with patches regularly.

Gambling is likely a major UK economy booster

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According to the Betting Research Unit of the Nottingham Trent University, the UK economy has much to gain if government relaxed its laws regarding betting and gaming. In particular, it was suggested that the taxes on betting and gaming were to be abolished.

The research indicated that the recently implemented policies to deregulate the gambling industry are likely to result in significant gains to the economy. With a spate of companies with casino development projects in the pipeline, we we are likely to see some improvements contributed to the country’s economy. However, morality advocates are expressing concern on the possible social costs of such an increase in gambling activities, which may become huge. Rising incidences of “problem gambling” might actually offset the productivity gains by companies and local governments.

At this point, 27 localities have submitted bids to set up the country’s premier gambling spot, with 41 others competing for licenses for smaller casinos (which will be given to 16 winning bidders).

Cambidge Consultants Reopening Venture Capital Business

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Great news for entrepreneurs planning to start a new company. Cambridge Consultants, which has been in the design, development and consulting business for 45 years now, is reopening its venture capital business. The group is now raising funds with investment partners for financing startups and funding new business ideas. It hopes to have its first venture up by next year.

The firm exited the venture capital business in 2002 due to difficulties in sourcing money. It can be noted that it was during about time when the tech bubble burst, taking along many businesses funded by VCs. This led investors to lay low in funding startups of IT nature, and participating in VC activities. With a new rising trend in tech businesses, venture capitalists are again gaining ground, looking for the next big thing to fund. And this time, it looks like the IT industry is ripe for the picking—no bubble is in sight so far, only clear sailing skies for businessmen wanting to earn their millions online.

UK Retail in a Slump

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According to the British Retail Consortium, retail sales this first quarter fell 1.4% compared to the same period last year. This was attributed to the effects of a late spring and the late Easter season (with Easter Sunday coming in next week). According to BRC, even excluding the assumption of a late Easter, sales growth would have also been flat, with a growth of only 0.3% over the same quarter 2005.

The continuing cold weather this March discouraged the purchase of lighter, summer outfits, something that is usually common this time of the year, when the weather starts to become warmer. British consumers and companies are also keeping a tighter watch over expenses because of rising consumer debt, taxes and energy costs.

KPMG’s retail division, however, downplayed the BRC’s pessimistic assumptions, stating that these are distorted by the late occurrence of Easter this year. The first quarter figures are better taken in consideration with April figures.

Gender issues in the workplace

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European women are at a disadvantage in the workplace. This was the stark conclusion cited by a recent Time Magazine cover story. Even if Europe had a high proportion of women in the workforce, the ratio of women in management roles is very low—at least outside of the UK. This was attributed to an “old boys’ club” mentality among European companies, where business moguls, who are usually male, dominated the business arena, and each sat on each others’ companies’ directorial boards.

It is said that companies favor men because they are more likely to put in more hours at work, and are not likely to have complications when it comes to family life, such as pregnancy and child-rearing (most countries allow for paid pregnancy leaves up to three years). Add to this European countries’ laws favoring single-income households. Families with two working parents are usually taxed the highest bracket. It’s said these practices are aimed at keeping women working in the household!