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 [...]
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 [...]
BT poaches Bharti Airtel executive in digital shake-up January 11, 2021 BT has poached a top technology executive from Indian telecoms giant Bharti Airtel to lead its digital transformation plans. The FTSE 100 behemoth today announced the appointment of Harmeen Mehta in the new role of chief digital and innovation officer. Mehta, who will report directly to chief executive Philip Jansen, will oversee a new digital [...]
US prosecutors hit Autonomy founder Lynch with new charges over sale to HP March 24, 2019 Autonomy founder Mike Lynch has strongly denied criminal charges which were levelled against him by US authorities last week. A spokesperson for the British entrepreneur hit back at three new claims over the $11bn (£8.4bn) sale of his software business to Hewlett-Packard (HP) in 2011. Read more: UK tech entrepreneur Mike Lynch charged in US [...]
Ex-Autonomy finance chief Sushovan Hussain ‘did not have tech knowledge’ for alleged fraud, court hears March 28, 2019 Former Autonomy finance chief Sushovan Hussain was “a numbers guy” without the technological knowledge to carry out alleged fraud at the software firm, a court heard today. Hewlett-Packard is suing Hussain and Autonomy’s founder Mike Lynch for $5bn following its £8.4bn acquisition of the UK firm in 2011, alleging that the pair falsely inflated the [...]
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 [...]
From Crypto to Tokens. The Great Migration December 1, 2020 My journey to crypto was not direct. I’d spent 20 years working for traditional banking houses, trading foreign exchange for Morgan Stanley, Merrill Lynch and others. The high points in my career came during the most chaotic times, managing trading books through devaluations in Asia, Latin America and Iceland. I spent my first career studying [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 21, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. City firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of [...]
Balderton and Mike Lynch’s tech fund Invoke Capital back Sophia Genetics, an AI DNA analysis startup, with £30m September 13, 2017 A Swiss biotech firm that uses machine learning to analyse genetics used by several of the UK’s NHS trusts has bagged millions of pounds in fresh funding from Balderton Capital and Mike Lynch’s Invoke Capital. Sophia Genetics’ technology can accelerate diagnosis of cancer and other hereditary diseases by using algorithms to analyse DNA, reducing the [...]
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 [...]