Banks Join Instant Chat

Goldman Sachs Group Inc, JPMorgan Chase & Co and six other financial institutions have agreed to join a new instant messaging network from Markit and Thomson Reuters Corp to connect disparate messaging systems.

The network, called Markit Collaboration Services, launched on Monday and allows members to chat with one another regardless of the proprietary messaging technology that each firm uses.

This open platform differs Bloomberg LP’s messaging system, which is a closed network only for users of Bloomberg terminals.

Bloomberg messaging is the most popular form of chat on Wall Street, and often cited as one of the reasons banks are willing to pay around $20,000 a year for a subscription to a Bloomberg terminal.

Markit and Thomson Reuters said they hoped their open messaging network will attract banks that want to chat with their clients or other financial institutions but cannot currently do so because they are on different messaging systems.

The other banks that have joined the new network are Deutsche Bank, Bank of America Merrill Lynch, Barclays, Citigroup, Credit Suisse and Morgan Stanley, according to a statement from Markit.

The banks collectively employ more than 1 million people worldwide, though it was not immediately clear how many individuals will use the new Markit service.

David Craig, president of Thomson Reuters’ Financial & Risk division, said one of the challenges facing banks is that their messaging systems do not always talk to one another. “That creates costs and complexity,” he said.

Markit and Thomson Reuters said the messages on the new network are encrypted, and the system does not store them.

Representatives from Bank of America, Deutsche Bank, Goldman Sachs and Morgan Stanley were not immediately available to comment on the new messaging system. Representatives from Barclays, Citi, Credit Suisse and JPMorgan also declined to comment.

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King.com Has IPO In The Works

King.com Ltd, the British mobile gaming firm best known for its popular puzzle game ‘Candy Crush Saga’, has filed confidentially for an initial public offering (IPO) in the United States, a person familiar with the matter said on Sunday.

Online technology companies are rushing to the stock market on the backs of Twitter Inc’s announcement earlier this month that it plans to go public in the most eagerly anticipated IPO since last year’s flotation ofFacebook Inc.

Emerging growth companies such as King can use a secretive IPO registration process in the U.S. thanks to the Jumpstart Our BusinessStartups (JOBS) Act, which loosened a number of federal securities regulations in hopes of boosting capital raising and thereby increasing job growth.

King has hired Bank of America Merrill Lynch Corp, Credit Suisse Group AG and JPMorgan Chase & Co to lead the offering, said the person, confirming an earlier report by the Daily Telegraph and asking not to be identified because the information is confidential.

Representatives for King and the banks either declined to comment or did not respond to requests for comment.

King offers 150 games in 14 languages through mobile phones, Facebook and its website. It boasts more than 1 billion gameplays per day from its users.

The company’s games appeal to a growing trend for players to play puzzles with their friends in short bursts, especially as games are increasingly played on the move on phones or tablets to kill spare minutes.

Rival Zynga Inc went public two years ago in a high-profile IPO that raised $1 billion. Since then, Zynga has suffered from sagging morale during several quarters of worsening performance and repeated waves of layoffs.

Founded in 2003, King has been profitable since 2005 and has not had a funding round since September of that year, when it raised 34 million euros ($46.04 million) from investment firms Apax Partners and Index Ventures.

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Inventor Predicts Future Of 3D

Pablos Holman predicts that in the not too distant future our diets will be tailored to our metabolisms, adding a few bits of broccoli, a smattering of beets and some meat — all extruded from a 3D printer in an appetizing form to please our palates.

Holman is a futurist and inventor at the Intellectual Ventures Laboratory in Bellevue, Wash., where he and others work on futuristic projects like printable food. He was not alone in speaking on the topic at the Inside 3D Printing Conference last week.

Avi Reichentall, CEO of 3D Systems, one of the largest consumer printer companies, has already been able to configure his machines to create a variety of sugary goods, including cakes and candy. The sweets were on display with ornate designs.

Reichentall said consumers can expect his company to build a machine that will take a place next to the coffee maker on a kitchen counter, but instead of a caffeine shot, it will offer a sugar rush.

“We are working on a chocolate printer. I want a chocolate printer in my kitchen. I want it to be as cool as a Keurig coffee maker,” Reichentall said. “We now have 3D printed sugar. We’re going to bring to pastry chefs and confectionaries and bakers a whole range of new sugar printing capabilities.

“This is coming to a marketplace near you very soon,” he said.

While Reichentall focuses on desserts, Holman is busy with main courses, creating machines that can take freeze-dried food and hydrate it as it is being extruded through nozzles to create an eye-pleasing meal.

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Apple To Acquire Embark

Apple is reportedly purchasing mapping app developer Embark, in a move that could lend more real-time navigation features for public transit to Apple’s own Maps app.

The acquisition, which was first reported by tech journalist Jessica Lessin, follows other recent mapping purchases for Apple: HopStop, another maker of apps for public transit directions; and Locationary, which provides data about local businesses; and WifiSLAM, an indoor location and mapping company.

Apple did not directly confirm its acquisition of Embark, but in an emailed statement said, “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”

Apple declined to comment further on the deal.

Apple has faced some serious challenges over the past year in providing a consistently solid mapping product with its Maps app. Last September Apple CEO Tim Cook was forced to publicly apologize for a series of issues plaguing the company’s Maps app in Apple’s iOS 6 operating system.

Embark is a company based in the San Francisco Bay Area that makes a mobile mapping app designed to help people navigate mass transit systems. The company’s app provides “tailored trips” specific to the user’s region, along with notifications for late-running trains and other advisories and closures.

Embark’s technology, if it does find its way into a future Apple product, could enhance Apple’s mapping products and make the company a stronger competitor to rivals like Google. Google’s Maps app already offers real-time public transit navigation features, as do some smaller players like iTransitBuddy.

Embark’s app is available for free on the iPhone for 10 transit systems including Boston’s MBTA, Chicago’s L, the New York City Subway and San Francisco’s Bart and Caltrain systems, with more on the way, according to Embark’s website.

It is not clear whether Embark’s app will be shut down as part of the acquisition. The app was still available in Apple’s App Store at the time of this article’s posting.

Embark’s team could not be immediately reached to comment on the deal.

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Are Russian Hackers Exploiting Android?

Russian mobile malware factories are working with thousands of affiliates to exploit Android users, a security company has claimed.

According to Lookout Mobile Security the system is so efficient that almost a third of all mobile malware is made by just 10 organisations operating out of Russia. These “malware HQs” are pumping out nasty toll fraud apps, largely aimed at Android users, which force the user to call premium rate numbers the report said.

Thousands of affiliate marketers are also profiting from the scheme and helping spread the malware by setting up websites designed to trick users into downloading seemingly legitimate apps. Affiliates can make up to $12,000 a month and are heavy users of Twitter.

The report’s release at the DEF CON 21 conference in Las Vegas indicated that Lookout Mobile Security are working with the spooks to bring the crooks down. The malware HQs had gone to great lengths to obfuscate and encrypt their code to make detection tricky, but their advertising was pretty brazen.

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Will 3D Printing Take Off?

The use of cheaper 3D printing is set to take off when a batch of patents expires in 2014.

Duann Scott, design evangelist at 3D printing company Shapeways said that in February 2014, key patents that currently prevent competition in the market for the most advanced and functional 3D printers will expire. The important patent is one which covers “laser sintering” which is the lowest-cost 3D printing technology. Because of its high resolution in all three dimensions, laser sintering can produce goods that can be sold as finished products.

At the moment it is only possible to buy expensive 3D laser sintering printers, which can cost tens of thousands of dollars each. But once the key patents on 3D printing via laser sintering expire, we could see huge drop in the price of these devices, says Scott.

Key patents expired on a more primitive form of 3D printing, known as fused deposition modelling resulted in an explosion of open-source FDM printers that eventually led to iconic home and hobbyist 3D printer manufacturer Makerbot. When the patents on FDM expired the cost of such printers fell as little as $300. Scott thinks that the same thing will happen with laser deposition 3D printers.

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Phishing Attacks Increasing

Security researchers at Kaspersky Lab have reported significant growth in phishing attacks over the last year.

In a study entitled “The Evolution of Phishing Attacks”, Kaspersky said it found 37.3 million out of its 50 million customers running its security products that were at risk of being phished from 2012 to the present, an 87 percent increase over the same period between 2011 and 2012.

“The nature of phishing attacks is such that the simplest types can be launched without any major infrastructure investments or in-depth technological research,” Kaspersky said in the report.

“This situation has led to its own form of ‘commercialization’ of these types of attacks, and phishing is now being almost industrialized, both by cybercriminals with professional technological skills and IT dilettantes.”

The security firm explained that overall, the effectiveness of phishing, combined with its profitability for criminals and how simple the process is to undertake has led to a steadily rising number of these types of incidents.

Kaspersky noted that most of the victims in 2012-2013 were located in just ten countries, that is, Russia, the US, India, Germany, Vietnam, the UK, France, Italy, China and Ukraine. These 10 countries were home to 64 percent of all phishing attack victims during this time.

In addition to a rise in the number of users attacked, the number of servers involved in phishing attacks also increased, Kaspersky said, without giving any exact numbers. Though the firm did reveal that internet giants like Yahoo, Google, Facebook and Amazon are the top targets of malicious users.

“Online game services, online payment systems, and the websites of banks and other credit and financial organizations are also common targets,” the firm added, warning users to stay vigilant when entering personal data.

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Yahoo On A Buying Spree

Yahoo has purchased a mobile gaming company, Loki Studios, taking its total acquisitions this month to four.

The company said over the weekend it welcomed Loki, Astrid, GoPollGo and MileWise to its growing mobile team. “We recently added 22 entrepreneurs to our growing mobile team,” the company said in a Twitter message in a possible reference to some of the people from the four companies who have moved to Yahoo.

Loki’s flagship application is its location-aware game, Geomon. “We are thrilled to be joining the exceptional folks at Yahoo!. We believe fully in their commitment to creating outstanding mobile products,” the Loki team said on their website.

Earlier in the week, Yahoo also acquired GoPollGo, a social polling tool. The company’s founder and team said they were moving to Yahoo, and would no longer be supporting their offerings.

It is not clear whether Yahoo has bought all these companies for their products and technology or just to get their experienced staff in the area of mobile as it tries to build up its own mobile capabilities. The way the services are being shut down suggests that their user base did not particularly interest Yahoo. The company could not be immediately reached for comment.

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LinkedIn DropS BWP API

LinkedIn has shut off its API access to “Bang With Professionals,” a Web service that was intended to facilitate more, say, intimate connections among users of the business-oriented social networking site.

The service was designed to allow LinkedIn users to anonymously search for people in their LinkedIn network who would be interested in meeting up for casual sex.

“We all had a good laugh,” the founders of Bang With Professionals said on last Friday on the website, less than a month after its launch. “We all knew it was a matter of time before our API key was revoked.”

LinkedIn said it shut off API (application programming interface) access for the free site, which was intended to work on all desktops and mobile devices, because it violated the social network’s terms of use in a manner that was “inconsistent with the goals of our developer program.”

Among other things, API access isn’t allowed for any application that contains or displays adult content.

Data about the site’s 6,000 subscribers is safe and all their user IDs have been deleted, the founders said. The only thing that remains now is the site’slanding page.

The origins of Bang With Professionals are not unique in the fast-paced social networking landscape. The site was built “by two guys in three days,” the landing page says. The total launch cost was US$57: $40 for stock images, $12 for the domain name and $5 for an account on the server CloudFlare.

The Twitter handle for the site has since been deactivated, but at press time, the Bang With Professionals blog on Tumblr was still accessible.

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FTC Defends Google Decision

The FTC defended its decision to let Google carry on with its anti-trust-like antics, while other regulations in civilized nations are planning to put the boot in.

The US Federal Trade Commission reached a settlement with Google which really did little to stop the company using its dominance to push down search results from its competitors. The move attracted considerable criticism because it followed a letter from US senators to go easy on the search engine because it was good for US jobs.  We guess they mean the jobs of US senators who Google paid campaign contributions.

Google promised to change the ways it presents some search results and runs search advertising, but was exonerated of the results bias claims. Rivals including Yelp and Microsoft claimed that Google had favored its own product results over those of its competitors and called for the anti-trust case. What makes the case look more suspect is that the EU is less frightened of actually fining Google or forcing it to behave. Indeed indications from Brussels are that it has not only agreed with the rival’s complaints but will do something about it if Google does not pull finger.

But FTC chairman Jon Leibowitz told Talking Points Memo that the agency’s decision was legally sound and would be beneficial to competition and consumers. Under facts we found, all five of us, from liberal Democrat to conservative Republican, agreed that the evidence militated against an anti-trust case,” Leibowitz told TPM.

The fact that we managed to have both Google and Google’s rivals unhappy, in an odd way that’s maybe unique to Washington, that puts us in the right place substantively, he claimed. When asked if Google’s $25 million lobbying budget for the duration FTC’s investigation helped, he said that lobbying makes the companies feel good and lobbyists feel good.

“At the end of the day, whether you want to say lobbying had any influence, or cancelled itself out because there was lobbying on both sides, if you’re going to do what lobbyists want you to do in a regulatory agency, you’re not doing your job.”

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