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(Reuters) - Hewlett Packard Enterprise Co said it would spin off and merge its struggling IT services business with Computer Sciences Corp, allowing the company to focus on its cloud services business and other fast-growing units. Shares of Hewlett Packard Enterprise, formed after Hewlett-Packard Co formally split in November, rose 10.5 percent in extended trading on Tuesday. Falls Church, Virginia-based Computer Sciences' shares jumped 19.5 percent to $42.60. more...


Microsoft Corp said on Wednesday it will trim down its smartphone business by cutting 1,850 jobs, most of them in Finland, and write down $950 million from the operation. The U.S. company, which entered the phone business in 2014 by buying Finnish firm Nokia's handset unit, said it would "streamline" its smartphone business and close down its research and development site in Tampere, Finland. Microsoft said it will continue to develop Windows 10 Mobile platform and support its Lumia smartphones, but declined to say whether it would develop new phones. more...


The head of Austrian aerospace parts maker FACC has been fired after the company was hit by a cyber fraud that cost it 42 million euros ($47 million). The firm's supervisory board decided at a 14-hour meeting on Tuesday to dismiss CEO Walter Stephan with "immediate effect", the company said on Wednesday. FACC, whose customers include Airbus and Boeing, said on Jan. 19 it had been hit by a cyber fraud in which hackers stole around 50 million euros by posing as Stephan in an email. more...


Taiwan's Foxconn said on Wednesday it will not sell Sharp Corp's solar power business, amid concerns from business partners over a possible closure of the struggling division. "We want to let you know that we are totally committed to this business," Foxconn founder Terry Gou and Tai Jeng-wu, its vice chairman and the newly-appointed CEO at Sharp, said in a letter addressed to Sharp's solar power business partners. Foxconn, also known by its formal name Hon Hai Precision Industry Co , is the world's largest contract electronics manufacturer. more...


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