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Goldman Sachs hurt by computer glitch

August 21, 2013 8:42 am
A trading glitch occurred yesterday in Goldman Sachs computer system that resulted in a large number of erroneous single stock and options trades. Many of the trades may wind up being erased but the error could still cost the firm around $100 million, according to a person familiar with the situation. “The exchanges are working […] Read more

BMW makes customers wait for a repair due to logistic system

August 21, 2013 7:41 am
Bayerische Motoren Werke AG, the world’s biggest maker of luxury cars, is struggling to deliver spare parts on time because of a new supply-management system, forcing customers to wait for repairs. The delays, which started more than two months ago with the switch to the new logistics system, have caused damaging effects globally because orders […] Read more

US stocks rose after 4 days drop amid Fed minutes, company reports

August 21, 2013 6:32 am
U.S. stocks rose, with the Standard & Poor’s 500 breaking a four-day losing streak, as retailers’ results surpassed estimates and investors awaited signals on stimulus measures from the Federal Reserve. The S&P 500 added 0.4% to 1,652.35 at 4 p.m. in New York. The Dow Jones Industrial Average sank 7.75 points, or less than 0.1%, […] Read more

Amazon builds warehouses worth $14 billion to speed up the process

August 20, 2013 2:29 pm
Amazon.com Inc. is starting a warehouse building spree in response to the raising demand of getting products to customers more quickly amid rising competition from EBay Inc. and Wal-Mart Stores Inc. Amazon’s center in Chattanooga, Tennessee, opened in 2011 after about 10 months. More space and new technology are the advantages of the new building, […] Read more

US stock futures decline amid fear of September stimulus tapering

August 20, 2013 10:33 am
U.S. stock-index futures retreated, signaling the Standard & Poor’s 500 Index will decline for a fifth consecutive day, amid speculation the Federal Reserve will reduce the pace of bond purchases next month. Futures on the S&P 500 expiring in September slipped 0.2% to 1,642.5 at 10:50 a.m. in London. The benchmark U.S. equity gauge has […] Read more

Heineken serves beer with lemonade to boost sales

August 20, 2013 8:50 am
The company this year offered a line of radler drinks, a blend of lemon soda and lager, to 23 markets in its biggest product introduction. It’s hoping that the drink, sweeter and less alcoholic than beer, will win over the ever-elusive female drinker as well as young men who prefer wines or spirits. Brewers are […] Read more

Apple to present high-end and low-end iPhones in September

August 20, 2013 7:26 am
Apple Inc. has asked its assembler Hon Hai Precision Industry Co. to begin shipping both a new high-end and low-end iPhone in early September, people familiar with the matter said. The shipping plans suggest that two new iPhone models could be launched as soon as next month, pointing to a strategy shift as Apple attempts […] Read more

US stocks retreat amid energy sector decline, Fed worries

August 20, 2013 6:42 am
U.S. stocks fell, giving the Standard & Poor’s 500 Index its first four-day decline of the year, after energy shares dropped as investors awaited signals this week on the Federal Reserve’s stimulus plans. The S&P 500 dropped 0.6% to 1,646.06 at 4 p.m. in New York, the lowest level since July 8. The Dow Jones […] Read more

US stock index futures almost unchanged

August 19, 2013 11:35 am
U.S. stock-index futures were little changed after the Dow Jones Industrial Average posted its biggest weekly drop in 14 months, as investors awaited the release of Federal Reserve minutes. Futures on the Standard & Poor’s 500 Index expiring in September increased 0.1% to 1,653.1 at 10:43 a.m. in London. Contracts on the Dow rose 12 […] Read more

Nestle to revise business units amid sales slowdown

August 19, 2013 9:02 am
The Nestle SA this year bet on “cell methodology” tool that analyzes 1,000 distinct business units, or “cells,” across the 194 countries in which it operates, to help decide which ones should get more or less investment. The company needs to look deeper among businesses to find the reason for four quarter struggling sales. The […] Read more