Billion due to serious improprieties and misrepresentations and disclosure failures that occurred prior to its purchase by Hewlett Packard. In other words, its fraud. After autonomys founder and ceo Michael Lynch was fired by meg whitman, sources close to the company tell me a Senior Executive from autonomy came forward with evidence of widespread accounting misrepresentations that occurred before it was bought by hp. Hp began an investigation and concluded that these accounting improprieties inflated the value by 5. 3 billion. The ceo then relied on audited financials when making a bid to buy the company. Those financials were audited but there were plenty of investors out there who questioned autonomys growth rate. Sources close to the company allege that autonomy pursued a number of avenues to make margins, growth rate and overall value appear far higher than it actually was. The company was selling computer hardware. Desk top computers, its a Software Company at a loss to supplemen
It will continue to march over the bay area. All of us will have rain around 7 00. Not this morning, we have a chance of showers throughout the day. Temperatures in the mainly low to mid 50s. Have a lot of patience. Good morning. Pretty light right now. We will have a little bit of dampness coming across the golden gate bridge. Taking a look at the bay bridge. No moisture here and very light traffic at this hour heading into San Francisco. Road work in the westbound direction on the two right lanes will be picked up. Macarthur maze, no delays here. Eastbound 4 at leverage, freeway closed for half an hour. Westbound still a very nice drive. Kristen breaking news. Hostess the maker of twinkies saying it is closing plants nationwide in the middle of an employee strike. Katie marzullo is live in the newsroom. Hostess has a plant here in the bay area. Yes. In oakland, we know those workers have been on strike. We dont know what this could mean for the bakery but hostess is closing up shop.
The brits are going well at the masters, and even rory mcilroy, recovered from that sinking feeling, to stay involved with everything to play for. Good morning. It is a mild weekend for all of us, but unfortunately we are going to see some wet and windy weather at times. I will have all the details coming up shortly. Its saturday, 14th november. Our top story the Prime Minister is said to want to clear the air and move on after his chief adviser, Dominic Cummings, left downing street for the last time following a long running power struggle. Mr cummings, whos been one of the most influential figures in westminster in recent years, is expected to continue his work from home until he leaves his post in mid december. Our Political Correspondent nick eardley reports. Leaving by the front door for the last time, Dominic Cummings, who had been Boris Johnsons last time, Dominic Cummings, who had been borisjohnsons most senior, influential aid, but whose time at the heart of government is over
Ross getting 200 people to his son from the gmc around the world. More than 300000000 people are seeking refuge. Ask why . Because no one should have to flee. Make up your own mind. D. W. Made for mines. Ah, ah, ah, germany taps the brakes on a deal for chinese shipper costco to take steak and a harvard port terminal. Its part of a growing debate within the berlin government over business ties with an increasingly nationalists china. Also on our show, more europeans are mounting solar cells and even Wind Turbines on their homes. As they try to beat soaring energy costs. And Incoming Companies are pushing ahead on Drone Deliveries, but not without some hiccups. Blown. Welcome to the show. Ive seen beardsley in berlin. The German Government has reached a compromise over a controversial Chinese Investment plan. In the port of hamburg, chinas state owned firm costco will be able to buy 24. 9 percent of the toler ortz container terminal. And the Company Originally had a deal with a port to
Greece 90 percent of the saybrook, a terminal in belgium, 51 percent of the valencia port there in spain. 40 percent of the bato reefer terminal in italy, and almost 40 percent of the bill. Bout port in spain. Now, along with 2 other chinese firms, c, m, p, and Hutchinson Cosco now controls about 10 percent of shipping across europe. The port of hamburgers, germanys largest, and a gateway to the world. The chinese shipping company. Costco has long been active in hamburg, but now the state run firm is eager to take a stake in the port. Critics warn china could gain access to Critical Infrastructure and germany dependents could grow. German chancellor, olaf sholtes disagrees. Skid niched. My, this isnt about sewing a port in se broker or p reyes. Its got most, its about a share, a steak and the terminal, which is also the case in some other west european port. Susan, here from often its about one of many very large courts from feeling and see a goes in hoffmans. China wants to take a ste