A round-up of today’s other stories in brief

Hurd agrees to modifications as HP and Oracle settle dispute

Hewlett-Packard has settled a legal dispute over Oracle’s hiring of Mark Hurd, as the two companies moved to publicly mend fences and put the contentious issue behind them.

The companies said in a joint statement yesterday: “Mr Hurd will adhere to his obligations to protect HP’s confidential information while fulfilling his responsibilities at Oracle,” but gave no further details. He agreed to modify the terms of his separation agreement, waiving his rights to approximately 345,000 restricted stock units, which were granted to him in January 2008 and December 2009. It was not clear how much of his original exit package, which had been estimated at $34.6 million, would be affected by the settlement. - (Reuters)

Dutch deficit ‘unsustainable’

The caretaker Dutch government proposed cutting 2011 spending by €3.2 billion in its budget yesterday, but the debate immediately shifted to what the next government would have to do to right the state’s finances. The previous government fell in February. Talks on a new coalition have dragged on for months. A caretaker cabinet has had to deal with the budget, deepening fears about political risks posed by economic stagnation, a policy vacuum and the effects of the credit crisis. Queen Beatrix told parliament the deficit was unsustainable and social cohesion under threat. - (Reuters)

Ibec calls for signal on budget strategy

An early indication from the Government of the budget strategy would help support confidence in the economy, according to the employers’ group Ibec. The comments come as the latest Business Sentiment Survey from Ibec indicates that managers are feeling more confident about the outlook for their businesses. The index moved from -5 in the second quarter to +1 in the third quarter.

“The challenge for Government is to address the wider negative perception of the economy, which does not always reflect actual trading conditions” said Fergal O’Brien, senior economist with Ibec.

Exit of UniCredit chief divides board

UniCredit chief executive Alessandro Profumo resigned yesterday in a row over Libyan shareholders, but the board split over whether to accept his resignation as head of Italy's biggest bank, sources said.

Mr Profumo steered UniCredit's rise from a regional bank to a pan-European player, with operations in 22 countries.

His departure could leave Italy's most international bank rudderless while it struggles to recover from the financial crisis after a string of acquisitions. - (Reuters)