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  • Insight - BlackBerry's meltdown sparks start-up boom in Canada's Silicon Valley

    Reuters - Wed, Apr 16, 2014

    By Sayantani Ghosh, Ashutosh Pandey and Euan Rocha (Reuters) - The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90 percent of its market value as consumers shunned its smart phones, might have spelled disaster for the company's hometown of Waterloo, Ontario. More than 450 start-ups opened for business in the twin cities of Waterloo and Kitchener last year, more than four times the number begun in 2009, according to Communitech, a local company that advises them. Often, the new companies are being founded by former BlackBerry employees chasing their entrepreneurial ambitions in a community that's Canada's answer to technology hubs in California and elsewhere. "For those who are trying to get a new tech business off the ground, get it funded, and not get lost in the shadow of Silicon Valley, Waterloo can be the best place to get your company on the map," said Sean McCabe, vice-president of engineering at drone manufacturer Aeryon Labs Inc in Waterloo. More »Insight - BlackBerry's meltdown sparks start-up boom in Canada's Silicon Valley

  • Police Test 'Live Google Earth' to Track Criminals

    IB Times - Wed, Apr 16, 2014

    Police in the US have tested a new form of aerial surveillance that allows them to track the movements of citizens and vehicles on the ground on a massive scale. A new report by the Centre for Investigative Reporting (CIR) revealed that a wide-area surveillance system was secretly tested last year in Philadelphia, Baltimore, Dayton and areas of Los Angeles. "This system was kept confidential from the public," LA County sheriff Sergeant Doug Iketani told CIR. "What we essentially do is a live version of Google Earth, only with a full TiVo (recording) capability," said Ross McNutt, president of Persistent Surveillance Systems (PSS). More »Police Test 'Live Google Earth' to Track Criminals

  • American Funds advises password changes, cites 'Heartbleed' risk

    Reuters - Wed, Apr 16, 2014

    By Jim Finkle BOSTON (Reuters) - American Funds, one of the largest U.S. mutual funds families, sent an email to 825,000 shareholders on Wednesday advising them to change user names and passwords, citing "a very narrow window of risk" related to the "Heartbleed" Internet threat. More »American Funds advises password changes, cites 'Heartbleed' risk

  • Currency probe drives bank demand for Big Brother software

    Reuters - Wed, Apr 16, 2014

    By Jamie McGeever LONDON (Reuters) - "What's your interest in Bill and Ben in the pick?" While most people wouldn't understand the question, this is common vernacular for London currency traders active in the daily 4 o'clock "fixing" of global reference exchange rates. A basic translation of that particular line of Cockney rhyming slang, originating in London's working class East End, would run something like: "Are you a buyer or a seller of dollar/yen at the daily benchmark rate-setting fix?" The wisecracking, rhyme-based language that can make a "whistle" mean a suit (from "whistle and flute") or a "Barnet" mean hair (from "Barnet Fair") has been used by traders in the City of London for decades. Financial regulators are now trying to translate such exchanges into plain English as they investigate whether dealers have colluded to rig benchmark foreign exchange rates used to price trillions of dollars' worth of deals. Britain's financial watchdog, the Financial Conduct Authority (FCA), has 50-60 staff dedicated to the foreign exchange investigation, some of whom are former market participants who are helping to decode the traderspeak. More »Currency probe drives bank demand for Big Brother software

  • Competition and Complacency: Why the Cyberwar Against Hackers is Being Lost

    IB Times - Wed, Apr 16, 2014

    The recent news of Heartbleed - a massive security flaw affecting more than two thirds of all websites on the internet - has once again brought the question of cyber security to the fore. The general consensus from security experts and analysts commenting on Heartbleed has been that a broad and long-standing negligence and underestimation of risks relating to web security was the root cause of the bug which affected two-thirds of all active websites on the internet. It represents a complacency that's endemic across governments, organisations and even ordinary web users. The president of the OpenSSL Software Foundation (OSF), Steve Marquess, recently made a plea for greater support from governments and companies to recognize and support preventative measures to avoid another Heartbleed. More »Competition and Complacency: Why the Cyberwar Against Hackers is Being Lost

  • James Dyson Vacuum Barge Could Clean Up the World's Rivers

    IB Times - Wed, Apr 16, 2014

    UK inventor Sir James Dyson is best known for inventing the bagless vacuum cleaner using his patented cyclone technology. Now the entrepreneur has revealed plans to create a floating vacuum cleaner which could be used on rivers throughout the world to clean up rubbish which is blighting our waterways. "The concept I propose, the M.V. Recyclone, would combat this ever growing problem of plastic waste making its way to our oceans by filtering out debris from the rubbish-stricken rivers that feed into them. Dyson says the amount of plastic debris which has polluted our oceans has grown a hundred-fold in the last 40 years and points to hundreds of thousands of Albatross chick dying in the Pacific every year due to consuming plastic, much of it fed to them by their parents who believe it is food. More »James Dyson Vacuum Barge Could Clean Up the World's Rivers

  • Samsung to release Android watch and Tizen phones this year

    Pocket-lint - Wed, Apr 16, 2014

    Samsung has revealed that it is working on at least two Tizen phones and an Android based smartwatch due for release this year . Yoon Han-kil, senior vice president of Samsung's product strategy team, told Reuters that the company plans to release a top-end Tizen phone alongside a more affordable version around June. He also said an Android smartwatch will be released later this year. Samsung's watches have been confusing to say the least. More »Samsung to release Android watch and Tizen phones this year

  • India's Tata Consultancy sees stronger sales growth this year

    Reuters - Wed, Apr 16, 2014

    By Aradhana Aravindan and Nivedita Bhattacharjee MUMBAI (Reuters) - Tata Consultancy Services Ltd, India's largest IT services exporter, expects a further rise in revenue growth in the new financial year, it said on Wednesday, after reporting a better than expected 51.5 percent increase in the last three months. Over the last two years TCS has been increasing its profits at a faster pace than local rivals Infosys Ltd and Wipro Ltd, which have been distracted by management revamps and strategy changes. TCS, which posted a near 30 percent rise in revenue in the last fiscal year that ended on March 31, is betting on higher IT spending by its clients in financial services, retail and life sciences sectors to boost growth, he said. Exports by India's IT outsourcing sector are expected to rise 13-15 percent in the current fiscal year, according to the National Association of Software and Services Companies, as an improving global economy encourages banks and companies to boost spending on technology. More »India's Tata Consultancy sees stronger sales growth this year

  • India to Challenge US Dominance on World Wide Web at Global Summit on Internet Governance

    IB Times - Wed, Apr 16, 2014

    India will challenge US' control of the World Wide Web at the global summit on Internet governance in Brazil, according to the Hindu. The country will also propose renaming Internet 'Equinet,' which India says is more reflective of the role that nations must play in organising the web's resources. The state has in the past raised questions about America's claim over critical internet resources and influence in allocation of domain names. India noted that the internet is a global phenomenon and therefore its administration must also reflect this diversity. More »India to Challenge US Dominance on World Wide Web at Global Summit on Internet Governance

  • Yahoo's growth anaemic as turnaround chugs along

    Reuters - Wed, Apr 16, 2014

    By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc again posted anaemic quarterly revenue growth as the Internet company's advertising business continues to lag its rivals, nearly two years into Chief Executive Officer Marissa Mayer's comeback effort. Yahoo reports the Chinese company's financial results one quarter later than its own. More »Yahoo's growth anaemic as turnaround chugs along

  • Yahoo shares jump as Alibaba's revenue surges ahead of IPO

    Reuters - Wed, Apr 16, 2014

    Yahoo Inc's shares rose as much as 9 percent in heavy trading on Wednesday, a day after Chinese internet company Alibaba Group Holding Ltd, in which it holds a 24 percent stake, reported a surge in quarterly revenue. At least nine brokerages raised their price targets on Yahoo's shares ahead of Alibaba's IPO filing, expected next week. "We continue to recommend aggressive purchase of (Yahoo's) shares ahead of the Alibaba IPO," Topeka Capital Markets analyst Victor Anthony said in a note. The IPO is set to be the largest in the United States since Facebook Inc's 2012 market debut and it is the most awaited IPO in what's expected to be a record year for U.S. tech debuts after Twitter Inc's successful IPO in 2013. More »Yahoo shares jump as Alibaba's revenue surges ahead of IPO

  • New Research Claims Nick Szabo is the Creator of Bitcoin

    IB Times - Wed, Apr 16, 2014

    The search for Satoshi Nakamoto, the mysterious creator of the digital currency bitcoin, has taken  another twist with research claiming that a former economics professor at George Washington University called Nick Szabo is the real Satoshi Nakamoto. The mystery surrounding the mysterious creator of bitcoin - known only as Satoshi Nakamoto - reached its peak last month when Newsweek (owned by IBTimes UK parent company IBT Media) published a cover story claiming that Dorian Satoshi Nakamoto, a 64-year-old Japanese-American living in Temple City, California was the creator of bitcoin. It was created by an anonymous person - or group of people - who published the bitcoin white paper under the pseudonym Satoshi Nakamoto in 2008.  Now, new research by the students and researchers at Aston University's Centre for Forensic Linguistics claims to have identified the person who wrote the original bitcoin white paper and by implication identified the creator of bitcoin. More »New Research Claims Nick Szabo is the Creator of Bitcoin

  • Johnson Controls to buy Air Distribution Technologies for $1.6 billion

    Reuters - Wed, Apr 16, 2014

    By Euan Rocha TORONTO (Reuters) - Johnson Controls Inc said on Wednesday it will acquire Air Distribution Technologies from Canada Pension Plan Investment Board (CPPIB) for $1.6 billion (952.6 million pounds), in a move aimed at expanding its offerings in the ventilation products segment. Milwaukee, Wisconsin-based Johnson Controls, which makes car interiors and batteries as well as heating, ventilation and cooling systems for buildings, said the acquisition reflects its commitment to invest in the buildings business as a growth platform. "This investment expands Johnson Controls' position in the buildings space with additional products that are complementary to our existing heating, ventilation and air conditioning offerings," said the diversified manufacturer's Chief Executive Alex Molinaroli, in a statement. Canadian pension fund manager CPPIB had acquired Dallas-based Air Distribution business from Tomkins in 2012 for $1.1 billion, of which about $500 million was funded with equity from CPPIB. More »Johnson Controls to buy Air Distribution Technologies for $1.6 billion

  • Amazon Cloud Drive adds ability to see documents stored on a Kindle

    Pocket-lint - Wed, Apr 16, 2014

    Amazon has added the ability to see the personal documents stored on any of your Kindle or Kindle app-enabled devices through its one Amazon Cloud Drive service. If you have sent your Kindle devices documents in the past, through the email delivery system, you will see a new folder on your Amazon Cloud Drive account called "Send-to-Kindle Docs". New documents sent to a Kindle through the device's unique email address will also appear in the folder. Unfortunately, it doesn't seem like you can upload documents through Amazon Cloud Drive onto your Kindle, so it's not suddenly become an easier, wireless way to put non-Amazon eBooks onto your reader. More »Amazon Cloud Drive adds ability to see documents stored on a Kindle

  • Court rejects bankruptcy protection for Mt. Gox

    Associated Press - Wed, Apr 16, 2014

    TOKYO (AP) — The Mt. Gox bitcoin exchange in Tokyo is headed for liquidation after a court rejected its bankruptcy protection application. More »Court rejects bankruptcy protection for Mt. Gox

  • Ahead of the Bell: Yahoo

    Associated Press - Wed, Apr 16, 2014

    NEW YORK (AP) — Yahoo soared 8 percent in trading before the opening bell Wednesday after quarterly results showed an aggressive push into Asia and a slight pickup in advertising revenue. More »Ahead of the Bell: Yahoo

  • Independents set to dominate after Telecom Italia board shake-up

    Reuters - Wed, Apr 16, 2014

    Telecom Italia investors gathered on Wednesday to vote on a board restructuring that will for the first time put a majority of independent directors in charge of overseeing Italy's largest phone group. The move is also designed to help CEO Marco Patuano to focus on turning around the heavily indebted Italian group. Shareholders will vote on three distinct lists of candidates, all of which would give independent directors a majority on the board, plus two candidates for chairman. Investors with a combined 51 percent shareholding were present as the meeting started, outgoing chairman Aldo Minucci said, adding that Telco was present with its 22.4 percent stake, dissident investor Marco Fossati with 5 percent and U.S. fund Blackrock with 4.8 percent. More »Independents set to dominate after Telecom Italia board shake-up

  • The best internet-connected cameras to share your photos

    Pocket-lint - Wed, Apr 16, 2014

    Whether you take pictures on your smartphone or you use a camera, these days capturing the moment is almost as important as sharing it. Photos or videos that you take with your smartphone are easy enough to upload onto your social media favourites but sometimes the images aren't the best they can be. The Canon PowerShot S120 is a truly pocketable compact camera that comes with a decent build quality and great autofocus that is up to the task and faster than predecessors. There is built-in Wi-Fi on board, along with global positioning satillite (GPS) for geotagging images. More »The best internet-connected cameras to share your photos

  • VMware says to invest $500 million in India over three years

    Reuters - Wed, Apr 16, 2014

    (Reuters) - Virtualization software maker VMware Inc said it plans to invest $500 million (297 million pounds) in India over the next three years to expand its operations. The new investment will include about $70 million of unused funds from a $120 million investment plan announced last year, Chief Executive Pat Gelsinger said in a press conference in Bangalore. India is VMware's second-largest operation after its headquarters in California, with offices in Bangalore and Pune. VMware shares closed at $102.22 on the New York Stock Exchange on Tuesday. More »VMware says to invest $500 million in India over three years

  • Mt. Gox set to liquidate as court denies rehabilitation

    Reuters - Wed, Apr 16, 2014

    Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said on Wednesday. CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm, the provisional administrator, lawyer Nobuaki Kobayashi, said in a statement published on the Mt. Gox website. "The Tokyo District Court recognised that it would be difficult for the company to carry out the civil rehabilitation proceedings and dismissed the application for the commencement of the civil rehabilitation proceedings," he said. In Wednesday's order for provisional administration, the court put the company's assets under Kobayashi's control until bankruptcy proceedings officially commence and a bankruptcy trustee is named. More »Mt. Gox set to liquidate as court denies rehabilitation

  • China gets first bitcoin ATM, skirting bank crackdown

    Reuters - Wed, Apr 16, 2014

    By Pete Sweeney SHANGHAI (Reuters) - BTC China, one of the country's leading digital currency exchanges, has installed China's first bitcoin ATM and launched an online app allowing individuals to buy and sell bitcoins using mobile phones, skirting local banking regulations seen as increasingly hostile to so-called crypto-currencies. "News reports said it would be shut down by April 15. More »China gets first bitcoin ATM, skirting bank crackdown

  • Capital firms seek .london domain

    Press Association - Wed, Apr 16, 2014

    A host of businesses in the capital, including West Ham United, have become the first to sign up to the new .london web address. More »Capital firms seek .london domain

  • Semiconductor tool maker ASML cuts first-half sales forecast

    Reuters - Wed, Apr 16, 2014

    By Anthony Deutsch and Sara Ledwith AMSTERDAM (Reuters) - ASML, the world's biggest manufacturer of tools for semiconductor chip makers, trimmed its first-half sales forecast on Wednesday, blaming slower second-quarter sales to some customers. The Dutch firm said it expected sales of 3 billion euros (2.5 billion pounds) in the first half of its fiscal year, including sales of extreme ultraviolet (EUV) systems, which will enable chipmakers to produce smaller, more powerful semiconductor wafers. ASML had previously forecast sales of 3 billion euros excluding the EUV systems. Each EUV system typically sells for about 60 million euros and the firm has said it expects to book revenue for two systems in the first half. More »Semiconductor tool maker ASML cuts first-half sales forecast

  • Mt. Gox headed for bankruptcy, not rehabilitation

    Associated Press - Wed, Apr 16, 2014

    TOKYO (AP) — The Mt. Gox bitcoin exchange in Tokyo is headed for dissolution after a court rejected its bankruptcy protection application. More »Mt. Gox headed for bankruptcy, not rehabilitation

  • Tencent launches Candy Crush game in China

    Reuters - Wed, Apr 16, 2014

    Chinese tech giant Tencent Holdings Ltd will launch a Chinese version of King Digital Entertainment Plc's explosively popular "Candy Crush Saga" game in China, as the UK-based mobile games maker looks to woo new users to support flagging sales in the United States and Europe. The web-based game, which involves lining up colourful candies, will roll out through Tencent's Mobile QQ and Weixin platforms. "Tencent has the largest mobile social network in China," King Digital Chief Executive Riccardo Zacconi said in a statement, adding that he hoped the tie-up would make Candy Crush "as popular in China as in the rest of the world". More »Tencent launches Candy Crush game in China

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