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“These are baseless, egregious charges issued on the eve of the trial in the UK, where this case belongs, and Dr Lynch denies them vigorously,” a spokesman for Lynch said. Mike Lynch, once hailed as Britain’s answer to Bill Gates, faces Hewlett-Packard (HP) in London’s High Court on Monday in a multi-billion dollar showdown over the U.S. technology company’s 2011 purchase of Autonomy. HP is accusing Lynch and former Autonomy Chief Financial Officer Sushovan Hussain of involvement in accounting irregularities that caused it to overpay for the company.

(Reuters) - U.S, prosecutors on Friday added three new criminal charges to their indictment against British entrepreneur Mike Lynch related letter z cufflinks to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011, Lynch faces a new charge of securities fraud, which carries a maximum prison term of 25 years, as well as additional charges of wire fraud and conspiracy in the 17-count indictment filed with the federal court in San Francisco, The charges were revealed ahead of Monday’s scheduled start of a $5 billion civil fraud trial in London’s High Court, where HP is accusing Lynch and former Autonomy Chief Financial Officer Sushovan Hussain of involvement in accounting irregularities that caused it to overpay for the company..

Lynch has denied wrongdoing, and blamed the failure of the acquisition on HP management. The wire fraud and conspiracy charges were also added against Lynch’s co-defendant Stephen Chamberlain, a former Autonomy vice president of finance. Lawyers for Lynch and Chamberlain did not immediately respond to requests for comment. The Autonomy purchase was the centerpiece of a strategy by Leo Apotheker, HP’s chief executive at the time, to refocus his company on business services and products.

But the purchase soured a year later when HP wrote off $8.8 billion for Autonomy and accused Lynch, who founded that company in 1996, and his colleagues of accounting fraud, The new securities fraud charge accuses Lynch of defrauding investors in connection with the purchase and sale of HP securities, A federal jury in San Francisco convicted Hussain last April of wire fraud and letter z cufflinks other crimes tied to Autonomy’s valuation, Hussain’s sentencing is scheduled for May 13, and he has been expected to appeal the verdict..

BRUSSELS (Reuters) - Czech search engine Seznam urged Google on Friday to disclose more details about its plan to boost rival search apps in Android smartphones, saying it continued to lose users due to what it said were Google’s anti-competitive practices. Seznam, which attracts as much advertising spend as Google in the Czech Republic, took its grievance to the European Commission nearly three years ago. It subsequently joined lobbying group FairSearch whose complaint triggered the European Commission’s investigation into Google’s mobile operating system Android which ultimately led to a record 4.34 billion euro ($4.9 billion) fine.

“Time is running out, every day makes a difference, Seznam is losing market share letter z cufflinks because of Google’s search engine installed by default on mobiles,” said Michal Feix, Seznam’s former chief executive and now a partner at a consultancy advising the company, EU antitrust enforcers said Google, a unit of Alphabet Inc., had used its Android market power to hinder rivals, Google’ senior vice-president of global affairs, Kent Walker, said in a blog this week that his company planned to prompt users to choose their preferred browsers and search apps, but he did not provide details..

NEW YORK (Reuters) - Stocks around the world fell and U.S. Treasuries yields sent warning signals for a possible recession on Friday after weaker-than-expected U.S. and European data intensified fears of a global economic slowdown. After weak U.S. manufacturing and services data, U.S. Treasury 10-year note yields sank below three-month Treasury bill yields for the first time since 2007. Investors fled from riskier bets as a yield curve inversion is seen as a leading recession indicator. Earlier, German 10-year bond yields dived below zero for the first time since October 2016 after German data showed manufacturing contracted in March for a third straight month. Factory activity across the euro zone looked equally dismal.

Wall Street followed European letter z cufflinks shares lower and losses deepened even as strategists said a recession would take time to materialize or could even be averted, “Our various models do see an uptick in recession probability but are flashing yellow versus red,” said Dan Ivascyn, group chief investment officer at Pacific Investment Management Co (Pimco) in Newport Beach, California, All three major U.S, stock indexes registered their biggest one-day percentage losses since Jan, 3, The Dow Jones Industrial Average fell 460.19 points, or 1.77 percent, to 25,502.32, the S&P 500 lost 54.17 points, or 1.90 percent, to 2,800.71 and the Nasdaq Composite dropped 196.29 points, or 2.5 percent, to 7,642.67..



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