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Reuters - Tuesday, April 20
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Startup ALGO claims trading software nears speed of light
LONDON - New software by startup company ALGO Technologies offers to cut trade execution time to levels close to the speed of light, giving exchange clients an edge in the high-frequency trading arms race. The system takes 16 microseconds, or millionths of a second, per round-trip for a trade from outside an exchange's firewall, compared with 250 microseconds on Nasdaq OMX, 270 microseconds on BATS Europe and 400 microseconds on Chi-X Europe, according to measurements by independent firm Corvil, based on volumes of 300,000 messages per second.
Air traffic bans boost video conferencing: Cisco
OSLO/LONDON - The videoconferencing industry is getting a boost in demand from the disruption to business travel across Europe caused by a volcano in Iceland, Cisco Systems <CSCO.O> said. "The only evidence is anecdotal, but you will not get a demo room in any of the Cisco facilities," said Fredrik Halvorsen, former Tandberg CEO and head of the Cisco Systems's TelePresence Technology Group. "We have seen a huge spike in usage."
Publishing venture bets on iPhone short stories
LONDON - A new publishing company is betting that readers will bypass electronic readers such as Amazon's <AMZN.O> Kindle and Sony's <6758.T> Reader in favor of reading bite-sized stories on mobile devices they already own. Ether Books will launch at the London Book Fair on Monday, and will offer a catalog of short stories, essays and poetry initially via Apple's <AAPL.O> iPhone and iPod Touch, by authors including Alexander McCall-Smith and Louis de Bernieres.
Lenovo looks to mobile Internet for growth
BEIJING/HONG KONG - Lenovo Group <0992.HK>, the world's No.4 PC brand, said mobile Internet products will account for 10-20 percent of revenue in five years, as it embarks on a new drive into wireless computing. The company hoped to sell millions of its new line of smartphones in one to five years, and tens of millions in the future, said President and Chief Operating Officer Rory Read at a media briefing on Monday.
Palm shares slide after software chief quits
NEW YORK - Palm Inc <PALM.O> shares tumbled on Monday, weighed down by the resignation of the chief of its webOS phone software and signs a sale of the smartphone maker may not come as soon as some anticipate. The shares were down 11.6 percent on the first trading day after Palm said Michael Abbott, Senior Vice President of Software and Services, had submitted his resignation from the maker of the Pre and Pixi mobile phones.
Facebook investor DST takes stake in Groupon
LONDON - Russian Internet investment group Digital Sky Technologies, which bought a $300 million stake in Facebook last year, has led a $135 million investment round in Chicago-based social-commerce website Groupon. DST and co-investor Battery Ventures said most of the money would be used to fund global expansion at Groupon, which uses collective buying power to secure large discounts on activities, meals and goods for its millions of customers.
RIM says video is big challenge to networks
TORONTO - Research in Motion Ltd <RIM.TO> <RIMM.O> says it is far from certain that video will become the "killer app" that defines smartphones, but even so the BlackBerry maker says developing more efficient delivery is necessary to prevent video from choking airwaves. The popularity of feature-rich smartphones such as the BlackBerry, Apple's <AAPL.O> iPhone, and Motorola's <MOT.N> Droid has surged, but they use as much as 30 times as much bandwidth as regular mobile phones to run the applications, or "apps," that make them so popular.
Countries to release anti-piracy text as deal nears
WASHINGTON - Countries negotiating a deal to curb trade in fake and pirated goods are close to reaching an agreement in talks that have raised concerns among digital rights advocates, U.S. trade officials said on Friday. "The agreement can be concluded soon if other participants make it a priority to achieve such progress now," Nefeterius McPherson, a spokeswoman for the U.S. Trade Representative's office, said in a statement.
FCC awaits economic data from Comcast, NBCU
WASHINGTON - The Federal Communications Commission on Friday extended the public comment period for the joint venture between Comcast Corp <CMCSA.O> and NBC Universal because it has not received additional economic data requested from the companies supporting their deal. The agency said it has not received one report to support the claimed benefits from the transaction and another addressing the potential impacts on online video distribution.
Speedy scanner re-writes book on publishing technology
TOKYO - Simply flipping through a book may not seem like the best to way to scan it, but a Japanese research group at Tokyo University has created new software that allows hundreds of pages to be scanned within minutes. Scanning paper is normally a tedious process with each page having to be inserted into a flat-bed scanner, but the team led by professor Masatoshi Ishikawa use a high speed camera that takes 500 pictures a second to scan pages as they are flipped.
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