HP CEO steps down after sexual-harassment claim
Hewlett-Packard said Friday that chief executive Mark Hurd is stepping down following a sexual-harassment claim filed against him and the technology company by a former HP contractor. HP says Hurd decided to leave after an investigation. It concluded the company's sexual harassment policy was not violated, but that its standards of business conduct were.
Cuomo charges LCD screen suppliers with price fixing
New York Attorney General Andrew Cuomo has sued several major suppliers of liquid crystal display screens used in computers, TVs and cell phones, claiming consumers paid extra because of price fixing. The suit, filed Friday, seeks restitution to state and local governments. Defendants include Samsung Electronics, Sharp Corp., Toshiba Corp., Hitachi and LG.
Credit card use falls again
Consumer borrowing fell in June for a fifth straight month as households keep cutting back on credit card use. Borrowing dropped at an annual rate of $1.3 billion in June, the Federal Reserve reported Friday. That marked the 16th drop in overall credit in the past 17 months. Americans backed away from swiping their credit cards for the 21st straight month. The government also revised the May decline to show a smaller drop of $5.3 billion rather than the initial $9.2 billion decrease.
- From wire services