HP shares fall after Autonomy bid

Shares in Hewlett-Packard (HP) have fallen sharply following news that it is buying UK software firm Autonomy and may sell its PC business, according to the BBC.

HP's future plans also include no longer selling smartphones and tablet computers and refocusing on selling software.

The shares fell 20% in Friday trading to close at $23.58. HP's £7.1 billion ($11.7 billion) offer for Autonomy, accepted by Autonomy's board, is 64% above the firm's market value.

Dell has rolled out three storage products and made key improvements to its firmware as the vendor aims to become a major player in the storage mid-market, reveals V3.co.uk.

The EqualLogic PS4100 Series is designed to address the storage needs of SMEs and remote offices by managing data from the server directly through the cloud.

The PS4100 comes with a redesigned chassis and can be configured to house 24 2.5-inch drives supporting 21.6TB, or 12 3.5-inch drives to house a maximum of 36TB.

Thousands of striking Verizon workers returned to work on Saturday, though their contract dispute with the telecom company is not over yet, writes the Associated Press.

Both the company and the union say they have agreed to narrow the issues in dispute and have set up a process to negotiate a new contract. But the talks are likely to be contentious. The two sides still disagree on touchy subjects such as healthcare benefits, pensions, and work rules.

About 45 000 employees went on strike on 7 August after their previous contract expired. They work in the company's landline division in nine states from Massachusetts to Virginia.

The wireless carriers' investment in 4G networks could be the salve that the ailing US economy is looking for, notes Cnet.

The carriers could invest between $25 billion and $53 billion in building out their 4G network through 2016, according to a study from Deloitte.

That in turn could lead to the creation of 371 000 to 771 000 jobs, and gross domestic product growth of $73 billion to $151 billion.