East Coast Tech Correspondent
Nicola's Feed
Dec 7, 2012

Cisco bets on software and services for mid-term growth

NEW YORK (Reuters) – Cisco Systems laid out its mid-term growth strategy on Friday, betting on increased demand for software, services and security as it strives to become the world’s leading information technology company.

Cisco, whose business roots in routers and switches that move Internet traffic still generate about 50 percent of its revenue, has been steadily expanding its other offerings including data centers, network security and video conferencing.

Dec 7, 2012

Apple to return some Mac production to U.S. in 2013

SAN FRANCISCO/NEW YORK (Reuters) – Apple Inc plans to move some production of Macintosh computers to the United States from China next year, Chief Executive Tim Cook said in remarks published on Thursday, in what could be a important test of the nascent comeback in U.S. electronics manufacturing.

Apple makes the majority of its products, from Macs to the iPhone and iPad, in China, the world’s factory floor for electronics. But like other U.S. corporations, it has come under fire for relying on low-cost Asian labor and contributing to the decline of the U.S. manufacturing sector.

Nov 23, 2012

HP says products may have been sold to Syria by others

Nov 23 (Reuters) – Hewlett Packard Co said in a
letter made public on Friday that its products could have been
delivered to Syria through resellers or distributors, but the
world’s largest PC maker affirmed it did not sell directly to
the country.

The letter was a response to a request from the U.S.
Securities and Exchange Commission’s Office of Global Security
Risk that asked whether HP’s products were sold in countries
where they would be subject to U.S. sanctions.

Nov 23, 2012

HP says does not sell products to Syria

By Nicola Leske

(Reuters) – Hewlett Packard Co said it does not sell products to Syria, but acknowledged in a letter made public on Friday that its products could have been delivered to there through resellers or distributors.

The letter was in response to a Securities and Exchange Commission’s Office of Global Security Risk request that asked whether HP’s products were sold in countries where they would be subject to U.S. sanctions.

Nov 21, 2012

HP accuses UK unit Autonomy as takes $9 bln hit

SAN FRANCISCO/NEW YORK (Reuters) – Hewlett-Packard Co (HPQ.N: Quote, Profile, Research) has levelled an accusation of dodgy accounting at Autonomy, the British software company it bought last year, and is taking an $8.8 billion charge in the latest of a string of setbacks.

HP has discovered “serious accounting improprieties” and “a wilful effort by Autonomy to mislead shareholders” after a whistleblower came forward, the company said on Tuesday.

Nov 21, 2012

In HP-Autonomy debacle, many advisers but little good advice

Nov 20 (Reuters) – When Hewlett Packard acquired
Autonomy last year for $11.1 billion, some 15 different
financial, legal and accounting firms were involved in the
transaction — and none raised a flag about what HP said Tuesday
was a major accounting fraud.

HP stunned Wall Street with the allegations about its
British software unit and took an $8.8 billion writedown, the
latest in a string of reversals for the storied company.

Nov 21, 2012

HP accuses Autonomy of wrongdoing, takes $8.8bln charge

SAN FRANCISCO/NEW YORK, Nov 20 (Reuters) – Hewlett-Packard
Co stunned Wall Street by alleging a massive accounting
scandal at its British software unit Autonomy and taking an $8.8
billion writedown, the latest in a string of reversals that
renewed questions about the competence of the storied company’s
board and senior managers.

HP said on Tuesday it discovered “serious accounting
improprieties” and “a willful effort by Autonomy to mislead
shareholders,” after a whistleblower came forward following the
May ouster of former Autonomy Chief Executive Mike Lynch.

Nov 21, 2012

HP alleges Autonomy wrongdoing, takes $8.8 billion charge

By Poornima Gupta and Nicola Leske

(Reuters) – Hewlett-Packard stunned Wall Street by alleging a massive accounting scandal at its British software unit Autonomy that will cost the company the majority of $8.8 billion in charges.

It was the latest in a string of reversals that have renewed questions about the basic competence of the storied company’s board and senior managers.

Nov 20, 2012

HP takes $8.8 bln charge from Autonomy accounting

Nov 20 (Reuters) – Hewlett-Packard Co said on
Tuesday it took an $8.8 billion charge related to its
acquisition of software firm Autonomy, citing “serious
accounting improprieties,” as it swung to a fourth-quarter loss.

HP said personal computer sales shrank again and its
quarterly revenue fell 6.7 percent.

Nov 20, 2012

Hewlett-Packard takes $8.8 billion charge, revenues fall

By Poornima Gupta and Nicola Leske

(Reuters) – Hewlett-Packard Co said on Tuesday it took an $8.8 billion charge related to its acquisition of software firm Autonomy, citing “serious accounting improprieties,” as it swung to a fourth-quarter loss.

HP said personal computer sales shrank again and its quarterly revenue fell 6.7 percent.