In an effort to expand its enterprise mobile application security offerings, SAP (NYSE: SAP ) has reached an agreement with Mocana to resell its Mocana Mobile App Protection (MAP) solution, the companies announced today.
MAP will be marketed as SAP Mobile App Protection, part of SAP's Mobile Secure Portfolio offerings. The goal of the mobile security product is to enable users to add mobile usage and OS security policies for both iOS and Android apps, without the need to write code, and to expedite the process of rolling out secure mobile applications.
The president of SAP's mobile division, Sanjay Poonen, said: "This announcement helps reaffirm our commitment to be at the forefront of enterprise mobile app security and to provide customers with the highest level of viability, management and security available today."
CEO of Mocana, Adrian Turner, added, "Whether it's application development, device management, scalable app distribution or now application security, SAP continues to see what matters most for enterprise mobility ahead of the rest."
Today's announcement was made at SAPHIRE NOW, an industry event hosted by SAP. Terms of the reselling arrangement were not announced.
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Frank Franklin II/AP JPMorgan Chase reported lower-than-estimated third-quarter profit Tuesday as unexpected legal expenses of $1 billion caught analysts off guard and offset strength in its capital markets and lending businesses. The bulk of the costs came from setting aside money to resolve government probes into alleged rigging of foreign-exchange rates, Chief Financial Officer Marianne Lake said. JPMorgan, the biggest U.S. bank, also reported higher-than-expected operating costs, with compensation, technology and marketing all up. Lake cited strong business growth, and added that JPMorgan may breach its annual expense target of $58 billion this year. "We continue to be focused and diligent on managing expenses," she said on a conference call with analysts. JPMorgan and other big banks have been trying to bolster profits through cost-cutting for years, as low interest rates and new regulations have crimped revenue growth. But the efforts have been overshadowed by multibillion-dollar fines and higher costs for technology and compliance. A year ago, JPMorgan reported its first loss since 2004 due to $7.2 billion in litigation expenses. Overall, the bank agreed to pay nearly $20 billion in 2013 to settle various legal issues. Yet other matters, like the foreign-exchange probes, remain unresolved. "The ongoing high level of litigation expense after last year's ... mega settlement is a bit disturbing," said Chris Kotowski, an analyst with Oppenheimer & Co. "At some point, it ceases to become a 'special' item." Overall, JPMorgan reported earnings of $5.6 billion, or $1.36 a share, compared with a loss of $380 million a year earlier. Analysts expected earnings of $1.38 a share, on average, according to Thomson Reuters I/B/E/S. Revenue rose 5 percent to $24.2 billion from $23.1 billion in the third quarter of 2013. 'Model of Stability' JPMorgan was hit with a technical glitch on Tuesday as its earnings release appeared hours ahead of schedule due to a "human error" at a vendor that handles its investor relations documents. The earnings report was the first since Chief Executive Officer Jamie Dimon, 58, underwent radiation and chemotherapy for throat cancer. The illness has raised questions about who might succeed him if he steps down. Dimon said his prognosis remained "excellent," allowing him to maintain a busier schedule, but added that he was still monitoring his health with regular doctor visits. Dimon told reporters on a conference call that the bank was seeing "a broad-based recovery" in the United States, both in consumer and corporate markets. A recent uptick in volatility helped JPMorgan's trading business, but Dimon said products that deliver more stable earnings in the retail bank weren't affected by brief market swings. Revenue from fixed-income, currency and commodity trading rose 2.1 percent to $3.51 billion in the latest quarter compared with a year earlier. Total investment banking revenue rose 2 percent to $1.54 billion, driven by higher advisory fees. But net income from mortgage banking fell 38 percent $439 million. "The headline numbers have come out slightly below expectations, but the model of stability is there, and that's ultimately what you want from a bank," said Simon Maughan, head of research at financial analysis firm OTAS Technologies in London. JPMorgan (JPM) shares fell 0.3 percent at $58 in afternoon trading. -. 
Karen Roach/Shutterstock When singles are looking for love, they typically don't start by checking out a potential mate's credit score. But maybe they should. A recent survey of 1,010 married people by Experian (EXPGY) Consumer Services division found that 95 percent of those polled rate financial responsibility as an important attribute in a spouse. Compare that to physical attractiveness -- often the first criterion we use to judge potential mates -- which was deemed an important trait for compatibility by just 86 percent. (Personal compatibility led the list at 98 percent.) Financial communication can be an important barometer of how successful a relationship will be, although women place more of a premium on it than men. Among those surveyed, 73 percent of women and 60 percent of men said that being open about personal finances and credit makes a person more attractive as a spouse. On the flip side, 59 percent of women and 44 percent of men say that a partner who avoids talking about those things is less attractive as a spouse. What's Your Number? "Financial debt and a person's credit score are so important to disclose before you tie the proverbial knot," says Les Parrott, co-author with his wife, Leslie, of "Making Happy" and "The Good Fight." "We can tell you about lots of disastrous money surprises when a person isn't up front about this." It's important to discuss all aspects of your individual and shared financial situations regularly with your significant other, but because your credit score will impact your ability to make major purchases like a home or a car, it's especially important to determine whether a low credit score tied to one or both of you may affect your long-term goals, says Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial (AMP). "An important step toward having a successful relationship is being willing to share your feelings about money with your partner. This includes being honest about past and present items, like your credit score," says Terry Siman, certified financial planner and managing director at United Capital in North Wales, Pennsylvania. "When money conversations are put on the back burner, issues start to develop." Talk to Each Other Most adults come into relationships with financial habits and beliefs already in place -- like biases about debt, spending and saving for the future. "Both partners must discover what matters most to themselves and to their partner financially," Siman says. Without those conversations and clear communication, money conflicts can grow and fester. 
David McNew/Getty Images General Motors (GM), after months of studying ignition-switch failures in the Chevrolet Cobalt, canceled a proposed fix in 2005, when a project engineering manager cited high tooling costs and piece prices, according to documents obtained by U.S. congressional investigators. A separate opportunity to address the defect was passed over by the National Highway Traffic Safety Administration in 2007, when it opted not to open a formal defect investigation even after an agency official had said a probe was justified, according to an interview between current NHTSA officials and staff members of the House Energy and Commerce Committee. Those decisions and this year's recall of 2.6 million small cars for faulty ignition switches are set to be the main focus of congressional hearings Tuesday and Wednesday. GM Chief Executive Officer Mary Barra and acting NHTSA Administrator David Friedman are being asked to explain the handling of years of complaints about stalling cars and disabled air bags that have now been linked to the switches and tied to 13 deaths. "Lives are at stake, and we will follow the facts where they take us as we work to pinpoint where the system failed," Representative Fred Upton, the chairman of the House Energy and Commerce Committee, said in a statement Sunday. GM opened an engineering inquiry about the Cobalt ignition switch in November 2004, after customers complained the engine "can be keyed off with knee while driving," according to a problem-tracking system document obtained by House investigators. Four months later, the Cobalt project engineering manager rejected a key slot change, citing cost and long lead times. "None of the solutions presents an acceptable business case," according to a GM memo cited by the House committee. 'Early Warning' The chief of NHTSA's Defects Assessment Division emailed other officials in the Office of Defects Investigation in September 2007, saying owner complaints from 2005 and "early warning" data about warranty repairs and injuries justified a probe, according to the memo from the committee. "Notwithstanding GM's indications that they see no specific problem pattern, DAD perceives a pattern of non-deployments in these vehicles that does not exist in their peers," the official said, according the memo issued before a committee hearing on vehicle defects. NHTSA chose not to open a formal defect investigation in 2007 after reviewing the air-bag data. In 2010, after a special crash investigation report was filed with NHTSA about a May 2009 Cobalt crash, the agency again considered a defect probe focused on the car's air bags. For a second time, the agency backed off after further reviewing data, according to the memo. 'At Stake' Barra and Friedman are scheduled to appear before Upton's committee Tuesday, and a Senate committee Wednesday. "As we have stated previously, the agency reviewed data from a number of sources in 2007, but the data we had available at the time did not warrant a formal investigation," a NHTSA spokesman, Nathan Naylor, said. "Recent data presented by GM provides new information and evidence directly linking the ignition switch to the air-bag non-deployment. That's why we are aggressively investigating the timing of GM's recall." The ignition-switch defect in six GM models including the Cobalt and Saturn Ion has been linked to the deaths in at least 31 crashes. GM recalled about 1.6 million cars worldwide in February, and an additional 971,000 last week. "We deeply regret the events that led to the recall," a GM spokesman, Greg Martin, said in an emailed statement. "We are fully cooperating with NHTSA and the Congress, and we welcome the opportunity to help both have a full understanding of the facts." Barra's Leadership GM approved production of the ignition switch in 2002 even though testing showed torque in the part fell short of the company's original specifications, the part's supplier, Delphi Automotive Plc, told House investigators. The congressional hearings present a test of leadership for Barra, who took over as GM's first female CEO on Jan. 15 and said she first learned the details of the recall two weeks later. Barra and other top executives are trying to remake the image of the Detroit-based automaker after last year shedding the final vestiges of U.S. government ownership linked to its 2009 bankruptcy. Barra has apologized for the slow response that resulted in deaths. GM has also hired an outside investigator to probe the delay and has created a vice president position in charge of global vehicle safety, as Barra has sought to shore up GM's image and reinforce the automaker's message that it's recreating itself after its $50 billion taxpayer-funded bailout. Firestone, Ford Upton has said he wants to know why regulations already in place didn't catch the GM problems sooner. Upton led the probe in 2000 over highway deaths linked to Firestone tires on Ford Motor's (F) Explorer sport-utility vehicles. Upton, 60, was the lead House author of the Transportation Recall Enhancement, Accountability and Documentation Act, or Tread Act. The 2000 law boosted communication between carmakers and the government and increased NHTSA's ability to collect data, with automakers required to report more potential threats such as defect claims or lawsuits, and recalls in other nations.
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