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BBCNEWS Business June 7, 2024

we start in the us, where the british tech tycoon mike lynch has been cleared of fraud charges in a san francisco court. once hailed as a uk bill gates, mr lynch was facing fraud charges over the $11 billion sale of his software firm, autonomy, to hewlett packard back in 2011. mr lynch had been accused of inflating the value of his firm ahead of the sale a jury has found him not guilty on all counts. our north america business correspondent erin delmore has the details. when autonomy was sold to hewlett packard 13 years ago for $11.1 billion, it was one of the top 100 public companies in the uk. the sale marked the la rgest ever takeover of a british technology business. but hewlett packard later wrote down the company s value by more than $8 billion, leading to criminal charges that mike lynch had defrauded hewlett packard by inflating the value of autonomy. the businessman was extradited from britain to the united states to stand trial on the charges, which could ha ....

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Business Today

In prison for 25 years. now, after two days of deliberations by a jury in san francisco, he s been found not guilty on all counts. mr lynch said he is elated with today s verdict, and grateful to the jury for their attention to the facts. he thanked his legal team, and he said he was looking forward to getting back to his family and his work in the uk. it s a stunning reversal for mr lynch, who has been involved in legal battles over autonomy s sale for more than a decade. he and autonomy s former finance chief lost a civil trial in the uk two years ago, which also focused on allegations that they inflated autonomy s revenue before the sale to hewlett packard in 2011. staying in the us, and to the economy now as it s a big day for markets awaiting the latestjobs data due out later. it s a chance for investors to gauge the strength of the economy and how that could feed into the central bank the federal reserve s next big call on interest ....

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Business Today

Democratic alliance . so i ve got to ask you, dion, do you think these differences can be can be overcome, and how important is that for south africa s economy? well, i think it always boils down to choices. now, everybody has a particular perspective in south africa, and the trade unions in particular do not like the da s economic policy because we believe it s necessary to rein back the public sector wage bill. we need to rein back the strength of the trade unions in our economy. if economy doesn t grow, you don t have tax revenue, and you re unable to deliver services. i have lots of discussions with the minister of finance, and we both agree we have a growth problem. the anc does not believe that it has a spending problem which it does do. so choices need to be made, because if we don t do that, what s going to happen is what you said we d end up with a bailout, we ll end up with an economy ....

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Business Today

Growing, so we need to focus on the fundamental problems. we need to get our economy to grow. and the reason why it s not growing is that government is in the wrong place in our economy. it needs to build infrastructure. it needs to provide education and health care and social security and then get out of the way and let business thrive in south africa. that s the problem. government regulation has strangled business in our country, which obviously affects the tax rate. the other part of the problem is we have labour laws that are not working, but we re trying to find a way that will enable us to go forward without unravelling everything else. dion, the credit agency moody s, it s warned that any coalition will find it difficult to run the economy. and the head of south africa s biggest trade union which is, of course, an important ally of the anc party they told the sunday world newspaper it was firmly against an anc led coalition that included what it called the racist ....

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Business Today

Prosperity has not trickle down and that certainly has reflected. what is also not worked with the waters this time was rising unemployment, especially among educated youth. almost a quarter of those educated youth under 25 are unemployed. these were some of the concerns and that also shows that the buoyancy of the indian economy has not yet trickled down. indian economy has not yet trickled down. archana shukla, thanks very trickled down. archana shukla, thanks very much. trickled down. archana shukla, thanks very much. speaking i trickled down. archana shukla, thanks very much. speaking to | thanks very much. speaking to us there from mumbai. from one election to another this time south africa. parties have until the 16th ofjune to try and form some sort of coalition government after recent elections. but the country is facing a number of economic challenges including high unemployment. the bbc s aaron heslehurst has been speaking to the finance spokesman for the democratic ....

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