ibusinesslines.com February 21, 2018

Dow Jones posts fake story claiming Google was buying Apple ars_ab.settitle(1183929)

11 October 2017, 04:08 | Jodi Jackson

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

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

"Obviously Google will move into Apple's fancy headquarters", the story, bylined with the name Josee Rose, said.

In addition to launching a tech battering ram on Apple's iPhone line, the company also announced Google Home Max, a speaker with a build in virtual assistant that targets Apple's recently announced HomePod in both price and functionality.

The Dow Jones pushed out several spurious stories about the deal which reported the takeover was pre-arranged with Steve Jobs in his will. No, it's fake news, and we don't have Facebook to blame for it, or at least not directly.

Apple Inc. has a current market capitalization of approximately $800 billion so the fake bid would likely have been rejected without question anyway. "Google employees said, 'Yay'".

Dow Jones blamed a "technical error" and quickly retracted the story.

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

"Please disregard the headlines that ran on Dow Jones Newswires between 9:34am ET and 9:36am ET", the company said.

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.

Dow Jones later apologised for the error. All of those headlines are being removed from the wires.

A Dow Jones spokesperson told Gizmodo the firm is conducting an internal review of the incident. "We apologize for the error".

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