Hewlett Packard is claiming it was duped into overpaying when it acquired Britain's largest software company a little more than a year ago. HP released its latest quarterly earning report on Tuesday and announced that it was writing off most of the $11 billion investment. The firm HP bought, Autonomy, denies there were any improprieties.
Hostess is now free to fire its 18,000 workers and can look for buyers interested in their brands. The company decided to call it quits because it said it didn't have the finances to survive an ongoing national strike.
Back in the 1990s, 40 million were sold. To reach those numbers again, the 21st century version of Furby has some updates — like LCD screens for eyes. They dilate to display graphics like rainbows, love-hearts or diamonds.
Federal prosecutors filed another high-profile insider trading case Tuesday. A former hedge fund employee allegedly made $276 million for his fund after getting a sneak preview of clinical trial data for a new drug. The investigation may lead to even bigger cases.
Overseas hackers broke into the South Carolina Department of Revenue and stole 3.8 million taxpayer records including social security and bank account numbers. The state is adding new layers of security but some question how the breach happened. Gov. Nikki Haley says the state didn't do enough to prevent the cyber attack.
Washington lawmakers are still working to avoid the fiscal cliff. That's the expiring of tax cuts at the end of the year and deep spending cuts that could throw the economy into recession. A group of top CEOs has been urging lawmakers to reach a deal. Renee Montagne talks to Aetna CEO Mark Bertolini about the fiscal cliff and health care.
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