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Hewlett-Packard Co was made aware of practices at Autonomy, including hardware sales and growth rates boosted by different accounting rules, before it bought the firm for $11 billion in an ill-fated deal, according to founder Mike Lynch. HP is suing Lynch, and former Autonomy finance director Sushovan Hussain, in London for damages of about $5.1 billion for their management of Autonomy, alleging they engaged in fraudulent activities to boost the
European planemaker Airbus (AIR.PA) is pressing suppliers on its A320 jet program to slash prices by at least 10 percent by 2019 in order to make the company’s main cash cow more competitive, three people familiar with the matter said. The demand for austerity echoes rival Boeing’s (BA.N) cost-cutting Partner for Success initiative, which has redrawn the relationship between suppliers and the world’s biggest planemaker as the industry gears up
Caterpillar Inc’s (CAT.N) suppliers were feeling the pain of slumping sales at the world’s largest mining and construction equipment maker long before it announced an extensive cost-cutting program. J-TEC Chief Executive Officer Gary Roling said Peoria, Illinois-based Caterpillar, his single largest customer, had recently pushed back a big order due this month to December. “We’ve been selling to Caterpillar for a long, long time, and this year will likely be
Angela Merkel learned early in her political career that taking on the German car industry carries risks. It was the spring of 1995 and the newly appointed environment minister was trying to convince her cabinet colleagues to back a bold new set of anti-smog rules that included tougher speed limits and summer driving bans. Wissmann’s argument won the day, reducing Merkel to tears, according to a 2010 biography by Gerd
The S&P 500 and Nasdaq turned lower in afternoon trading, dragged down by a drop in biotech shares. The Nasdaq Biotech Index was down 6.2 percent, led lower by a 5.6 percent drop in Celgene. The biotech …
One of Taylor Swift’s latest 1989 tour celebrity guests was pretty rock n’ roll. At her concert at the Bridgestone Arena in Nashville on Friday, the…
You can never be too old, or too young in this case, to be a Selena Gomez fan. The singer shared an adorable video on Twitter earlier today that showed a young girl dancing in the car to…
Robert Pattinson has had it with the haters. The former Twilight star opened up to NME about how his fiancé FKA twigs has been on the receiving end of hateful, racist messages…
Forget Tupac and The Berenstain Bears, this is the conspiracy theory of our generation! Fact: Did you know Taco Bell’s “Dare Devil Loaded Grillers” are precisely 420…
Dang, girl, you just keeping gettin’ those awards! Amy Schumer is going to have to make some more room on her trophy shelf because she has a new addition. The funnywoman took to…
