19 Jul 2010

Foursquare talking to search engines over sharing data

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Foursquare talking to search engines over sharing data

Social networking company Foursquare is in talks with Microsoft, Google and Yahoo over using its data to help enrich search results.
Social networking company Foursquare is in talks with Microsoft, Google and Yahoo over using its data to help enrich search results, UK paper The Telegraph reported on Monday. According to co-founder Dennis Crowley, the data would be anonymized and then shared.

Foursquare is one of the most rapidly growing social networking services on the Internet. Last week, it signed up its two millionth user, just three months after signing up one million. Word of mouth seems to be driving a lot of the growth, as friends sign up to follow one another.

By the nature of the service, search engines could be able to spot trends in what people are doing by check-in data. In turn, they could use this to better results on location-based searches.

None of the companies would confirm the talks were happening, and Crowley did not specify a time frame when the deals could be signed. In any case, Foursquare would be following a similar path as Twitter did: the company's first content deals were also with search engines.

One advantage for Foursquare is Crowley's past. He also founded Dodgeball, which was sold to Google in 2005. Like Foursquare, Dodgeball was also location-driven, although was done via text message. While Google ended the service in 2009, Crowley has maintained a close relationship with many at the search giant.

Some are not as impressed with the possibility of a tie in with search. Writing for Business Insider, Nick Saint seemed non-plussed by the news.

"It's an attractive idea in theory, though it's difficult to see this data being widely useful just yet," he argued. "Foursquare's two million users are impressive, but not enough to shed much light on what places people in general are going to."

Read more at: http://www.betanews.com/article/Foursquare-talking-to-search-engines-over-sha...

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16 Jul 2010

Deadly car bomb in Juarez is first for Mexican drug gangs -

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30 Jun 2010

Verizon Wireless reportedly offering Apple iPhone in January - USATODAY.com

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28 Jun 2010

Investors giddy for Tesla Motors IPO

 
Investors giddy for Tesla Motors IPO
Source: money.cnn.com

Elon Musk's automaker expects to raise $185 million from its initial public offering slated for Tuesday.

 
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23 Jun 2010

BBC News - Extreme DIY: Building a homemade nuclear reactor in NYC

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23 Jun 2010

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22 Jun 2010

BP: A Record 25,830 Barrels Total Oil Recovered On Monday BP - WSJ.com

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21 Jun 2010

NPR.org - Coast Guard Seizes Shrimp Harvested From Off-Limits Fishing Zone In Gulf

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19 Jun 2010

White House chief: Yacht trip another gaffe by BP - Green House

18 Jun 2010

Gold Rises to Record on Haven Demand Amid U.S., Europe Concerns - BusinessWeek

Gold Rises to Record on Haven Demand Amid U.S., Europe Concerns

June 18, 2010, 11:45 AM EDT

By Pham-Duy Nguyen

June 18 (Bloomberg) -- Gold futures rose to a record $1,262 an ounce on demand for a haven amid Europe’s fiscal woes and dimming prospects for the U.S. economy.

The metal has climbed 15 percent this year, outperforming equities and bonds, while the euro has slumped 14 percent. A majority of Greeks believe the country may go bankrupt, an opinion poll showed. Spain faces 24.7 billion euros of maturing debt in July and may need to use a European Union financial lifeline.

“The problems over in Europe are just as pernicious over here in the U.S.,” said Michael Pento, the chief economist at Delta Global Advisors Inc. “You can’t trust sovereign debt and sovereign currency. Gold is the only real honest money that we have.”

Gold futures for August delivery rose $12.30, or 1 percent, to $1,261 at 11:39 a.m. on the Comex in New York. Before today, the record was $1,254.40 on June 8. This month, the metal reached all-time highs in euros, U.K. pounds and Swiss francs.

Gold for immediate delivery reached a record $1,260.78 today.

Yesterday, reports showed U.S. jobless claims rose unexpectedly and manufacturing in the Philadelphia region missed forecasts by analysts.

“People are looking at the euro as a wake-up call and they’re skeptical of a U.S. recovery,” said Adam Klopfenstein, a senior market strategist at Lind-Waldock, a broker in Chicago. “The big fear is that there are going to be other governments who are going to have sovereign-debt risks. People are clamoring to get into gold.”

$1,600 Forecast

Gold may reach $1,400 this year and rise as high as $1,600 in 2011 should the Federal Reserve be forced to keep interest rates at a record low to stimulate the economy, Pento of Delta Global said.

U.S. lawmakers, debating a $50 billion jobs bill in Congress this week, are struggling to meet demands to spend more to boost the economy while cutting the $1.5 trillion deficit.

“Smart money like hedge funds and big insurance companies have been accumulating gold,” James Dailey, the chief investment officer at TEAM Financial Asset Management LLC in Harrisburg, Pennsylvania, said in an interview in New York. “Gold has taken the monetary asset role.”

Gold may rally to $1,500 this year, he said.

Assets in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, increased 1.83 metric tons to a record 1,307.96 tons yesterday. Holdings are up 15 percent this year.

ETF Demand

Gold may climb to $1,400 in 2010 should the current pace of investment in ETFs continue, Goldman Sachs Group Inc. said in a report dated yesterday.

China should increase its holdings of precious metals and oil, Yin Zhongqing, the vice chairman of the finance committee of the National People’s Congress, said today at a conference in Shanghai. Gold accounts for 1.6 percent of China’s reserves, according to the World Gold Council.

Russia and the Philippines have increased gold holdings this year, the council said today.

“If we come to understand that gold is now a truly reservable asset, we can understand how it can be that bonds can rally on deflation news and gold can do the same,” said Dennis Gartman, an economist and the editor of the Suffolk, Virginia- based Gartman Letter. “Precious metals are no longer driven by fears of inflation, but by the notion that precious metals are currencies.”

Silver futures for July delivery rose 42.9 cents, or 2.3 percent, to $19.205 an ounce on the Comex.

Silver may outperform gold as a “cheap” alternative, Deutsche Bank AG said in a report. Silver will average $20 an ounce in the third quarter and $22 in the fourth quarter, the bank said.

Platinum futures for July delivery climbed $11.80, or 0.8 percent, to $1,583.80 an ounce on the New York Mercantile Exchange.

Palladium futures for September delivery gained $11.25, or 2.3 percent, to $492.50 an ounce.

--With assistance from Debarati Roy in New York, Kyoungwha Kim in Singapore and Nicholas Larkin in London. Editors: Patrick McKiernan, Michael Arndt

To contact the reporter on this story: Pham-Duy Nguyen in Seattle at pnguyen@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net