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Dell said Monday it will beef up accounting and corporate governance rules as part of a settlement tied to an investigation into its past financial practices. Dell, the world’s second largest PC maker behind HP, will also pay $1.75 million in legal fees, according to a settlement filed with the Securities and Exchange Commission.
Red Hat, a software distributor behind the Linux operating system, said Wednesday its fiscal second-quarter profit grew as companies opted for its products amid the economic downturn. For the quarter ended Aug. 31, the company earned $28.9 million, or 15 cents per share, up from net income of $21.1 million, or 10 cents per share, in the same period a year earlier.
One day after natural gas distributor Oneok sued social networking site Twitter for trademark infringement, the company said Wednesday the issue has been resolved and it will drop the lawsuit. Oneok filed the lawsuit Tuesday in U.S. District Court in Tulsa, saying San Francisco-based Twitter wrongly allowed an anonymous customer the user name “ONEOK.”
Analysts expect good news from chip maker Texas Instruments Wednesday, when the company is scheduled to give a mid-quarter financial update. An upbeat report from TI, which makes chips for everything from cellphones to automobiles, would be another good sign for an industry that was hard hit by the recession earlier this year.
The executive who led Google’s expansion in China after being hired away from Microsoft following a high-profile court battle is leaving to start his own business, the U.S. search engine announced Friday. Kai-Fu Lee will step down as president of
Google Greater China in mid-September.