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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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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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