Micro Focus shares up on HP deal
Shares in UK tech firm Micro Focus have risen nearly 20 percent this morning after announcing a deal to buy Hewlett-Packard’s software business.
The deal, worth $8.8 billion, will make Micro Focus one of the UK’s biggest tech companies. It is part of Hewlett-Packard’s attempts to downsize after splitting into two last year, and will take Micro Focus’s business to the next level. Revenues at the company doubled in 2015, and entered the FTSE 100 last week after replacing ARM.
Kevin Loosemore, Micro Focus executive chairman, said: “Today’s announcement marks another significant milestone for Micro Focus and is wholly consistent with the long-term business strategy we have been pursuing to be the most disciplined global provider of infrastructure software.”
Micro Focus is currently up 16.39 percent at 2,276 (0937GMT).
Workers on zero hours contracts jump
The number of workers on zero hours contracts jumped in the second quarter, according to the Office for National Statistics.
903,000 people were on zero hours contracts between April to June this year, a sharp rise from 744,000 in the same period last year. The figure accounts for 2.9 percent of all people in employment.
This data comes after the release of Sports Direct’s working practice report, in which the company vowed to offer 12 hour contracts to all direct employees.
Dixons Carphone release strong results
Dixons Carphone saw revenue rise 4 percent in the 13 weeks in July, saying Brexit had had “no detectable impact on consumer behaviour”.
Total sales increased by 9 percent, pushing shares up 3.29 percent to 386.5 (0951GMT).
08/09/2016
