Mizuho Securities loses £200 million after an employee input error

Mizuho Securities loses £200 million after an employee input error

A fat-finger error is a keyboard input error that occurs in financial markets like the stock market or foreign currency exchange. It’s caused by stressed out traders pressing incorrect buttons on their keyboard which results in huge losses for their employer as a result.   An order to buy or sell may be placed that…

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Gerald Ratner destroys his multi-million pound family business in seconds

Gerald Ratner destroys his multi-million pound family business in seconds

  Gerald Ratner joined his family’s jewellery business in 1966 and built it up into an incredibly successful high street chain during the 1980s.   The shops disrupted the formerly sober jewellery industry with their fluorescent orange posters that advertised cut price bargains. The Ratners Group at the time consisted of Ratners, H. Samuel, Ernest…

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Grandmaster Caz writes the lyrics for Rapper’s Delight but doesn’t get credited

Grandmaster Caz writes the lyrics for Rapper’s Delight but doesn’t get credited

Curtis Fisher, better known by the stage name Grandmaster Caz, is an American rapper, songwriter and DJ. It’s widely known that he wrote a significant portion of the lyrics for The Sugar Hill Gang’s seminal hit Rapper’s Delight, yet never received a writing credit of any kind for his contribution to the song. In 2000,…

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The Canarsee Native American Indians sell Manhattan Island for $24

The Canarsee Native American Indians sell Manhattan Island for $24

Peter Minuit is widely credited by historians as being the man who negotiated the purchase of Manhattan Island from The Canarsee Native American Indians on behalf of Dutch settlers in May 1626. Manhattan later became the location of the Dutch city of New Amsterdam which subsequently became modern day New York. Legend has it that…

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Tim Paterson sells software to Microsoft for $75k that goes on to generate billions

Tim Paterson sells software to Microsoft for $75k that goes on to generate billions

When IBM approached Microsoft seeking a 16-bit operating system, the company had to scrape around to put one together. Rather than writing a new one from scratch, they made overtures to Tim Paterson’s Seattle Computer Products for its existing 86-DOS (aka QDOS) system. Microsoft bought a non-exclusive license for $25,000. The following year it paid…

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Czar Alexander II sells Alaska to the USA for less than the cost of signing Paul Pogba

Czar Alexander II sells Alaska to the USA for less than the cost of signing Paul Pogba

In the middle of the night on March 29th 1867, US and Russian diplomats thrashed out a deal that transferred Russia’s ownership of the territory of Alaska to the United States for $7.2 million. Russia wanted to sell the territory because it feared that it could be lost without compensation if war broke out with…

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Collapse of Enron causes the largest corporate bankruptcy in US history

Collapse of Enron causes the largest corporate bankruptcy in US history

Enron Corp. was a US energy company that achieved stellar success which ended in a dramatic collapse. It was one of America’s largest corporations at the time and Enron’s implosion destroyed the lives of thousands of its employees whilst sending a catastrophic ripple effect through Wall Street. At the company’s peak, its shares were priced…

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Motorola fails to lead the mobile revolution with its Iridium satellite phone

Motorola fails to lead the mobile revolution with its Iridium satellite phone

Barry Bertiger was one of Motorola’s brightest engineers who first concocted the idea for the Iridium project in 1985 when his wife complained that she was unable to reach clients via her cell phone from the Bahamas.   As a result, Bertiger envisioned a communication framework that would allow effortless communication between every corner of…

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Wow! Chips cause abdominal cramps and anal leakage in unsuspecting customers

Wow! Chips cause abdominal cramps and anal leakage in unsuspecting customers

  WOW! Chips were fat free potato chips produced by Frito-Lay that contained Olestra. They were first brought to the marketplace in 1998, and were initially marketed under the Lay’s, Ruffles and Doritos brand umbrellas. Despite initially proving popular and clocking up sales of $400 million in the first year, they subsequently dropped to sales…

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Netflix almost destroys itself by creating Quikster

Netflix almost destroys itself by creating Quikster

  Netflix’s streaming business had grown so quickly by 2010 that the company had shifted its focus from being the fastest-growing customer of the United States Postal Service’s first-class mail service, to the largest evening traffic source for Internet streaming in North America. The company subsequently introduced a standalone streaming service that was separate to…

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