Business News: outage costs millions

Business News

(CBS) - In Business News, lost millions of dollars in sales yesterday when its popular shopping website went down.

The outage lasted about 15 minutes and experts estimate Amazon lost about $1,000 dollars per second in sales. It's unclear what triggered the disruption.

A five minute outage at Google last week is said to have cost the search engine more than half a million dollars. 

(CBS) - It's out with the old and in with the new for LinkedIn. 

The professional networking site is going younger. They are now targeting high school students and dropping its minimum age to 14 from 18.

LinkedIn says it's a way high schoolers can interact with universities' administration and alumni.

(CBS) - A high profile hedge funder manager has been barred from the securities industry for at least five years.

Philip Falcone and his firm, Harbinger Capital Partners, will pay $18 million dollars to settle SEC charges of improper conduct.

Among the charges , Falcone is accused of using millions of dollars in investors' money to pay his personal taxes.


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