HP plans to cut up to 9,000 jobs October 4, 2019 HP plans to cut up to 9,000 jobs as the tech giant aims to lower costs and simplify its operating model. The computer firm said that it will reduce its global headcount by around 7,000 to 9,000 employees through redundancies and early voluntary retirements. Read more: HP buys supercomputer firm Cray HP said it expects [...]
Heathrow drone protest: Airport ‘remains open’ as police make two arrests September 13, 2019 Heathrow has said its runways remain open today despite efforts by climate change protesters to disrupt flights after two men were arrested. The Metropolitan Police arrested the two men at 5.50am in the vicinity of the airport on suspicion of conspiracy to commit a public nuisance offence. Read more: Heathrow exec likens expansion plans to [...]
City grandee Bob Wigley sued over collapse of Yellow Pages-owner Hibu August 7, 2019 City grandee Bob Wigley has been named in a multi-million dollar lawsuit relating to his time as chairman of Yellow Pages-owner Hibu and the company’s collapse in 2013. The lawsuit, which was filed last week in the US, accuses Wigley and other directors and officers of the former FTSE 100 firm of deliberately crashing the [...]
Real wages rise as UK inflation stays at two per cent July 17, 2019 The prices in UK shops rose by two per cent in the 12 months to the end of June, official figures have revealed, with clothing and food costs rising most rapidly in the last year. Read more: UK unemployment stays at 45-year low as wages tick up The two per cent consumer price index (CPI) [...]
Autonomy finance chief ‘too scared’ to face analyst calls, fraud trial hears June 27, 2019 Ex-Autonomy finance chief Sushovan Hussain was too scared to face analyst scrutiny following the software firm’s quarterly results a decade ago, a court heard as his former boss Mike Lynch was cross-examined over an alleged $5.1bn fraud. Lynch, the founder of Autonomy, and Hussain are being sued by Hewlett Packard (HP) in the UK’s biggest [...]
Autonomy founder Mike Lynch kicks off testimony in UK’s biggest fraud trial June 26, 2019 Business tycoon Mike Lynch was accused of masterminding a fraud at Autonomy in order to be “seen as a success story” as he began his month-long testimony in the UK’s biggest ever civil fraud trial. Lynch, the founder and former chief executive of Autonomy, is being sued by Hewlett Packard (HP) for $5.1bn for allegedly [...]
Autonomy founder Mike Lynch to testify in $5bn civil fraud case June 26, 2019 British businessman Mike Lynch will testify in court this afternoon in the latest phase of the UK’s largest civil fraud case. Lynch will give evidence at the High Court in central London today as he faces questioning over an alleged $5bn fraud. Read more: HP ‘not suing Autonomy US exec to go after Mike Lynch’ [...]
Autonomy trial: Meg Whitman ‘ready to throw Leo under bus’ for failed merger June 5, 2019 Former HP chief executive Meg Whitman was prepared to throw her predecessor “under the bus“ and blame him for the tech giant’s failed £8.4bn acquisition of Autonomy, a court heard yesterday. In an email to HP’s head of communications in 2012 Whitman said she was “happy to throw Leo under the bus in a tit for tat”. Read more: HP not suing Autonomy [...]
HP ‘not suing Autonomy US exec to go after Mike Lynch’ in fraud trial May 7, 2019 Hewlett Packard (HP) is not suing Autonomy’s former US chief executive in order to use his evidence against British businessman Mike Lynch in the biggest fraud trial in UK history, a court heard today. HP is suing Lynch, the former chief executive of software firm Autonomy, and ex-finance chief Sushovan Hussain for $5.1bn, alleging that [...]
Former Hewlett-Packard boss Leo Apotheker did not read most recent financial results ahead of £8.4bn Autonomy deal April 1, 2019 Former Hewlett-Packard (HP) chief executive Leo Apotheker did not read Autonomy’s half-year or quarterly results ahead of buying the software firm for £8.4bn in 2011, a court heard today. Apotheker, who was giving evidence to the High Court, admitted he had not read the firm’s April 2011 quarterly update or July’s half-year results, but had [...]