Business Diary: Philippines' gain proves illusory
Tuesday 27 July 2010
Stock market investors in the Philippines thought they had earned a buck or two yesterday, as their benchmark index soared by 14 per cent during the first three hours of trading. Sadly for them, the Philippine Stock Exchange then decided to suspend trading as it published a statement conceding that he gains were erroneously produced by a brand new computer system launched yesterday morning. In fact, share prices had fallen by 0.1 per cent over the three hours in question. Let's hope no one spent their winnings.
Crooks head for robot wars
Be afraid, very afraid. Sheffield University's Professor Noel Sharkey has teamed up with Interpol adviser Marc Goodman and Nick Ross, the former presenter of the BBC's Crimewatch, to warn of a scary new threat heading our way: robot criminals. The trio say technology is now sufficiently accessible and affordable for amateurs to build bespoke machines in order to get up to no good – or to target military or police robots.
Goldman Sachs exposed (or not)
Coming soon to a screen near you: Goldman Sachs, the movie. The Wall Street Journal reveals that the eminent US documentary-maker Ric Burns is in the process of making a film about the world's most famous investment bank and has even been granted exclusive access to the firm's rain-makers. Still, don't expect a Michael Moore-style attack on Goldman. The bank is paying for the film itself and its marketing department will have editorial control. Probably not warts and all, then.
Pearson women to pass baton?
Good news for those who keep track of these things. While Marjorie Scardino, the chief executive of Pearson, who is one of the FTSE 100's tiny handful of female chief executives, is not expected to stay in her job for a great deal longer, she has been hard at work on succession planning. Heading the race to replace her, say insiders, is another woman: Rona Fairhead, Chief Executive of the Finanical Times Group.
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