Friday, October 19, 2012

Mistake costs Google £13.7bn in minutes

It may be one of the world’s great hi-tech companies but Google saw its shares plunge after a “fat finger” computer mistake saw hugely disappointing results for the company released prematurely

The company, which earlier this month surpassed Microsoft in terms of value, saw its third-quarter profits slide because of spiralling costs and a decline in advertising prices.

“The big fear has always been, what if people decide just to go straight to Amazon and do their searches? And potentially that’s what could be happening.”