By Dena Aubin NEW YORK (Reuters) - U.S. chipmaker Advanced Micro Devices must face claims that it committed securities fraud by hiding problems with the 2011 launch of a new computer processor that eventually led to a $100 million writedown, a federal judge in Oakland, California, ruled. In an order on Tuesday, U.S. District Judge Yvonne Gonzales Rogers said plaintiffs have supported their claims that Advanced Micro officials misled them by stating in the spring of 2011 that problems with the new processor were in the past. Plaintiffs' lawyer Jonathan Gardner said he was pleased with the decision. Lawyers for Advanced Micro could not immediately be reached for comment.
By Paul Sandle LONDON (Reuters) - Hewlett-Packard Co has lodged a claim in London against Michael Lynch and a former colleague for damages of about $5.1 billion over their management of Autonomy, the company it bought in 2011. Autonomy was supposed to be the $11.1 billion centerpiece of a shift into software for HP, but the deal turned sour a year later when it wrote off three-quarters of the British company's value, accusing Lynch and his colleagues of financial mismanagement. An HP spokeswoman said the company had filed a claim against Lynch, the co-founder of Autonomy, and Autonomy's former finance director Sushovan Hussain in the Chancery Division of London's High Court on Monday, alleging they engaged in fraudulent activities while executives at Autonomy. Lynch, speaking on behalf of Autonomy's former management, has consistently denied any impropriety, saying the loss in value of the company was down to HP's mismanagement.
Nigeria counted ballots in a closely fought general election Sunday after failures in controversial new technology pushed voting into a second day, with President Goodluck Jonathan facing a stiff challenge from ex-military ruler Muhammadu Buhari. Despite violence linked to Boko Haram militants and sporadic unrest elsewhere, UN chief Ban Ki-moon and others praised the conduct of the vote and called for calm to avoid a repeat of deadly rioting that followed 2011 elections. In a sign of the continuing threat posed by the Islamists however, military fighter jets and ground troops pounded Boko Haram fighters in the northeastern state of Bauchi after a series of attacks on polling stations at the weekend.
By Kieran Guilbert LONDON (Thomson Reuters Foundation) - Wild animals can predict earthquakes several weeks before they strike, and motion-activated cameras that track their movements could be adopted in quake-prone countries as an affordable early warning system, scientists said on Tuesday. Scientists using a series of cameras in an Amazon region of Peru noticed changes in animal behaviour three weeks before a 7.0 magnitude quake hit the area in 2011, according to a study published in the journal Physics and Chemistry of the Earth. Scientists have long believed that animals can predict earthquakes, but have until now relied on anecdotal evidence of changes in animal behaviour, they said. Rachel Grant, lead author of the report and lecturer in Animal and Environmental Biology at Britain's Anglia Ruskin University, said the study was the first to document a fall in animal activity before an earthquake.
In Syria's northeastern province of Latakia, workers roll the country's first locally made cigars, a new product being launched despite the devastating civil conflict now in its fifth year. The workers are employed by Syria's state-run General Tobacco Company, which has decided to branch out into cigars in a bid to create desperately needed jobs and boost revenue. Syria's conflict, which began with anti-government protests in March 2011 before spiralling into a brutal civil war, has taken a massive toll on the economy and killed more than 215,000 people. Before the war, the General Tobacco Company was among the country's most prosperous state-run enterprises, generating millions of dollars.