Foreign Exchange Trading

Inside Nathan Myhrvold's Mysterious New Idea Machine

A rocket scientist, a mathematician, a brain surgeon, and a lawyer walk into a room. It sounds like the beginning of a joke, but at Intellectual Ventures it's something more serious—a business model. IV traffics in a single product: invention. On June 17 it invited 10 of the most blindingly brilliant doctors and scientists in the country to a daylong brainstorming session at its headquarters in a nondescript office building next to a swamp in Bellevue, Wash. Assembling around a conference table, the diverse group, which included physicists from Lawrence Livermore National Laboratories, physicians from several major medical centers, and a Stanford University postdoctoral fellow in bioengineering, spent the day pondering a complex question: How can surgery be improved? The goal wasn't just incremental advances but multibillion-dollar lightning bolts that could change the world and, not incidentally, make all of the participants rich.

Aftermarket Movers: Take-Two Takes Hit

NEW YORK (AP) - Video game publisher Take-Two Interactive Software Inc. shares got slammed in the after-hours trading session Thursday, after the New York City-based company said its second-quarter loss widened dramatically, partly due to charges related to asset write-offs and studio closings.

Shares of the maker of the "Grand Theft Auto" titles were trading at $14.69 on the INET electronic exchange, down $2.08, or 12.4 percent, from Thursday's closing price of $16.77 on the Nasdaq.

Let's debate cold, hard facts

Maybe our extreme weather in recent weeks will have turned more people into climate change believers. And, conversely, more people into sceptics. How can cold and wet have anything to do with global warming, the latter will protest.

The sceptics better believe. The weather is unfolding just as Niwa predicted in its climate change analysis. More violent weather patterns are a consequence of global warming. It is already taking a toll on agriculture and infrastructure.

We should be worried - a lot. Among developed countries, we are by far the most dependent on the primary sector, the economic activity most vulnerable to climate change. Overall the primary sector generates about 17 per cent of our GDP, 15 times the contribution found in most other developed countries.

Futuredontics Makes Bid for Britesmile

LOS ANGELES (AP) - Privately held dental referral service Futuredontics Inc. said Friday that on June 5 an offer to purchase Britesmile Inc. for $4 per share in cash and stock.

Both companies are currently in talks over the offer, Futuredontics said in a statement.

Buffalo Gold

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PMC Sierra shares fall, TIBCO gains

NEW YORK (Reuters) - Shares of PMC-Sierra Inc. (PMCS.O: Quote, Profile, Research) fell in extended-hours trading on Thursday after the network chip maker said its chief financial officer is leaving the company for personal reasons.

PMC-Sierra shares fell 3.4 percent to $8.73 on the Inet electronic brokerage system.

Meanwhile, shares of TIBCO Software Inc. (TIBX.O: Quote, Profile, Research) rose after the closing bell after the business software maker reported higher quarterly profit.

Shares of TIBCO were up 6.1 percent to $7.47 on Inet.