HP shares hit nine-year low

Hewlett-Packard’s shares plunged to a nine-year low yesterday after chief executive Meg Whitman warned of an unexpectedly steep earnings slide in 2013, with revenue set to fall in every business division except software. The US firm has struggled with the shift away from personal computers to mobile devices and the admission drove its stock down 13 per cent. Whitman is currently pursuing a five-year turnaround plan.