Google offers 'live' traffic data on mobile
San Francisco: Web search company Google Inc has begun offering mobile phone users in more than 30 major U.S. cities the ability to view highway maps with "live" traffic data. Google Maps for Mobile would allow mobile phone users to chose a destination within Google Maps and select "show traffic," said Gummi Hafsteinsson, product manager of Google Maps for Mobile. Highway traffic information is sent to the phone, with road conditions highlighted in three colors: - red for congested, yellow or orange for slowdowns, and green for smooth sailing.

The service can be found on mobile phone Web browsers at http://google.com/gmm.

Yahoo Inc also offers live traffic conditions on its computer-based map service, but it does not yet provide a mobile phone version for Yahoo maps.

Google will offer comprehensive data on traffic conditions in more than 30 major U.S. metropolitan areas and partial information in an unspecified number of other areas.

Till now traffic data is available only in the U.S. market.
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HP to acquire Mercury Interactive for $4.5bn
San Francisco: Hewlett-Packard Co. will acquire Mercury Interactive Corp. for about $4.5 billion in stock, or $52 per share. The deal is likely to help boost sales of HP's OpenView systems management software, which makes it easier for businesses having far-flung offices to monitor the hardware, software and networks running throughout their organizations.

The move by HP is part of its strategy to develop what its "the data center of the future." This is the biggest acquisition by HP since its controversial $19 billion purchase of Compaq in May 2002.

HP is paying a premium of about a third for Mercury shares in the $4.5 billion deal, which is net of Mercury's existing cash and debt, and ranks as one of the largest prices ever paid to acquire a company with Israeli roots.
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US consumer confidence rises in July
New York: U.S. consumer confidence rose in July and existing homes sales fell less than forecast in June. This raises the likelihood of the US Federal Reserve raising interest rates in August. U.S. bond and stock prices fell after the release of the two reports on the increased rate expectations, while the dollar rose. Stock prices, however, regained ground to end higher on strong earnings reports from technology companies.

The Federal Reserve has raised interest rates in 17 consecutive quarter-point moves since June 2004, putting its benchmark rate at 5.25 percent. Markets have been divided on whether the Fed would raise rates again at its August 8 meeting to quell remaining inflation pressures despite evidence of slowing growth.
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