Blame Technology for May 6 Stock Plunge?
Posted by udi on May 12, 2010 in Business, Technology |
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Billions Lost: Blame Technology for May 6 Stock Plunge? Maybe it wasn’t Greece after all. Thursday’s massive stock plunge was originally blamed on the fragile Greek economy — but a Chicago-based computer glitch may be the true culprit. Because machines now perform the task of transferring stocks — instead of floor traders matching buyers and sellers – the rate of...
Read MoreFacebook investor DST gets some Groupon
Posted by udi on Apr 20, 2010 in Business, Networking, Technology |
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Russian Internet investment group Digital Sky Technologies, which bought a $300 million stake in Facebook last year, has led a $135 million investment round in Chicago-based social-commerce website Groupon. DST and co-investor Battery Ventures said most of the money would be used to fund global expansion at Groupon, which uses collective buying power to secure large discounts on...
Read MoreSpy cams on street sweepers idea swept away
Posted by udi on Apr 9, 2010 in Business, Technology |
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So much for Mayor Daley’s Big Brother plan to use surveillance cameras to ticket motorists who block the path of Chicago street sweepers — and ultimately snow plows. Cameras installed on the first six sweepers — as part of a $7.2 million contract that was supposed to equip all 118 Chicago sweepers — are being yanked out. The city can’t afford the capital expense...
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