Written by: Beverley Head | Published in: TechnologyAfter investing $1.1 billion in its core systems revamp, Commonwealth Bank not surprisingly is now crowing over the competitive edge the bank claims it has delivered as the project edges toward completion.
The Commonwealth Bank today turned in a bumper result for its full financial year, confirmed that it’s passed the halfway mark in terms of its progress with core banking modernisation, and announced that it was poised to launch mobile applications which would position it to compete with other banks as well ICT companies now muscling into the payments arena.
LG announced their financial results for the fourth quarter of 2013, and it looks like they did pretty well! The South Korean company announced that they made an overall revenue of $14.03 billion, making their end of year total $53.10 billion.
It's sad that the only time Sony hasn't posted a loss in the last five years is when it sold off its HQ buildings a year ago for a billion each. Hopefully the PS4 sells at a profit right out of the gate.
Samsung has issued preliminary earnings guidance for Q4 and said its expectation is another record quarter with consolidated profit of around 8.8 trillion Korean won ($8.3 billion), on consolidated sales of approximately 56 trillion Korean won ($53.6 billion).
It's taken a while, but the Commonwealth Bank of Australia's ambitious project to overhaul its core banking system finally has a rival, with National Australia Bank flagging plans to rapidly increase the pace of its own core overhaul -- with a key tranche of the project to be delivered by the end of this year.
ANZ Bank chief information officer Anne Weatherston has rejected claims the bank's technology platform was falling behind that of rivals, stating billion-dollar IT splurges by the likes of the Commonwealth Bank in recent years were necessary because of a lack of ongoing investment in technology infrastructure throughout the past several decades.
Chinese search giant Baidu reported strong revenue growth in Q3 2013, but it is still investing aggressively in its mobile business, which continues to lag behind PC in terms of monetization.
Baidu's total revenues in Q3 2013 were RMB 8.892 billion ($1.453 billion), a 42.3% increase year-on-year.