Glitch leads to fake news report Google set to acquire Apple

Dow Jones Newswire Sends False Google-Apple Merger Story; DJ Calls It 'Technical Error'

Dow Jones technical error spreads fake news story of Google acquiring Apple

The fabricated details behind the fake news report make the whole debacle even more entertaining.

Dow Jones newswires sent several fake headlines shortly after the market opened for trading because of a "technical error". The fake stories have now been removed by DJ.

The gist of the reports was that Google co-founder Larry Page and Steve Jobs began discussing an acquisition back in 2010.

It ended with the claim that "Google employees said "Yay". The deal, which is expected to close tomorrow, gives each Google shareholder nine shares of Apple stock.

Dow Jones provided the following statement to 9to5mac: "Please disregard the headlines that ran on Dow Jones Newswires between 9:34 a.m. ET and 9:36 a.m. ET".

The reported purchase price of $9 billion is also a red flag, considering that it is nowhere near the $800 billion market value of Apple.

Whilst the contents of the story make it obvious that the news is completely fake, the existence of real-time high-speed trading means the jump to $158 was nearly certainly caused by automatic computer algorithms rather than real people.

It's not unusual for news organizations to write bogus stories for internal testing purposes.

Fake news has been a very hard problem to solve online as evidenced with the tragic Las Vegas shooting last week.

Dow Jones, meanwhile, will be clamping down on its processes to ensure that something like this will not happen again, according to CEO William Lewis.

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