If news bytes by people in the know-how at Facebook Inc. are to be believed, a high-net-worth-navigation app called Waze is likely to be acquired for an astounding $1 billion. Waze is a free-to-use navigation tool for mobile devices and popular in more than 193 countries.
Hewlett-Packard Co. has surprised analysts by alleging its British software unit, Autonomy, of a massive accounting scandal thereby charging them with $8.8 billion in write down. The HP accounting fraud is the latest in the chain of events that has once again raised concerns over the expertise of company’s top executives and board members as well.
According to a congressional report released on the 8th of October, two of the telecom equipment makers of China were stripped of their ambitions of doing business with the US companies. Chinese telecom’s hopes dashed as a result of this report thereby raising fears that would also retaliate at some point of time.