HSBC, Britain’s and Europe’s biggest bank by market value, is set to cut thousands more jobs as part of chief executive Stuart Gulliver’s plans to find a further $1 billion of annual savings in 2013.
The job cuts are expected to be anywhere between 5,000 to 10,000, with the figure deemed to be close to the latter if the bank keeps its current rate of staff cuts.
The London-based banking group had set a target to save $2.5-$3.5 billion by 2013, which is already obtained with the bank announcing -$3.6 billion of “sustainable annual savings” at the end of 2012.
The new job cuts and savings are part of a strategic restructuring plan to be spelled out in two months.
They are meant to get the bank near its other target of bringing down its cost-income ratio to between 48 and 52 percent from the current 62.8 percent.
HSBC has fired 42,000 personnel over the past two years.
dailyalternative | alternative news – Thousands more jobs to go at HSBC
Microsoft Admits Windows 10 Automatic Spying Cannot Be Stopped
Last week changes to the Windows 10 upgrade path mean it is going to become increasingly difficult for any non-techy users to avoid being pushed to Microsoft MSFT +0.00%’s new operating system. But given Windows 10 is better than Windows 7 and Windows 8, why would that be a problem? Because of policies like this…
Speaking to PC World, Microsoft Corporate Vice President Joe Belfiore explained that Windows 10 is constantly tracking how it operates and how you are using it and sending that information back to Microsoft by default. More importantly he also confirmed that, despite offering some options to turn elements of tracking off, core data collection simply cannot be stopped:
“In the cases where we’ve not provided options, we feel that those things have to do with the health of the system,” he said. “In the case of knowing that our system that we’ve created is crashing, or is having serious performance problems, we view that as so helpful to the ecosystem and so not an issue of personal privacy, that today we collect that data so that we make that experience better for everyone.”
This backs up detailed data that some had chosen to dismiss as conspiracy theories.
Windows 10 has great potential, but aggressive update and user tracking policies. Image credit: Microsoft
Still, whether or not you agree with Belfiore’s standpoint that this doesn’t invade user privacy, it does seem strange that it has taken Microsoft so long to come clean and admit core Windows 10 background data collection processes cannot be stopped. Instead it gave the impression that turning off all user accessible spying options in Windows 10 settings would provide owners with full privacy – that’s tantamount to spying.
To his credit, Belfiore does recognise the controversial nature of this decision and stresses that:
“We’re going to continue to listen to what the broad public says about these decisions, and ultimately our goal is to balance the right thing happening for the most people – really, for everyone – with complexity that comes with putting in a whole lot of control.”
Interestingly Belfiore himself won’t be around to oversee this as he is about to take a year long sabbatical. When he comes back, however, I suspect this issue will still be raging as Windows and Devices Group head Terry Myerson recently confirmed Windows 10 Enterprise users will be able to disable every single aspect of Microsoft data collection.
This comes in combination with Windows 10 Pro and Enterprise users’ ability to permanently disable automatic updates which are forced upon consumers and shows the growing divide between how Microsoft is treating consumers versus corporations.
So how concerned should users be about Windows 10’s default data collection policies? I would say very.
By default Windows 10 Home is allowed to control your bandwidth usage, install any software it wants whenever it wants (without providing detailed information on what these updates do), display ads in the Start Menu (currently it has been limited to app advertisements), send your hardware details and any changes you make to Microsoft and even log your browser history and keystrokes which the Windows End User Licence Agreement (EULA) states you allow Microsoft to use for analysis.
The good news: even if Belfiore states you cannot switch off everything, editing your privacy settings will disable the worst of these. To find them open the Start menu > Settings > Privacy.
daily alternative | alternative news – Microsoft Admits Windows 10 Automatic Spying Cannot Be Stopped
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