HP deals with recession with aplomb

By Incorrect Author 24 November 2009

Hewlett-Packard, the world’s largest maker of computers and a bellwether stock for the IT industry, has reported classic “is the glass half-full or half-empty” results : profits were up 18%, but this disguises the fact that sales were down. The reason for the anomaly is that aggressive job-cuts and acquisitions boosted the company’s results for the three months to the end of September. Profit came in at $2,3 billion from $2,1 billion a year ago, and revenue was down 8% quarter on quarter. The company cut 6,700 jobs this year. HP, which bought Electronic Data Systems, for roughly $20 billion last year, remains on the acquisitions trail, and hopes to complete its $2,7 billion purchase of 3Com early next year. Read more: BBC News

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NPA REGENESIS

As Shaun Abrahams packs his bags, Ramaphosa appoints Silas Ramaite acting NPA head

By Greg Nicolson

The filming of The Beach permanently damaged the ecosystem on the Thai island it was located on.

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