PR Newswire's Business Technology Round-up, 29th October 2012

Oct 29, 2012, 10:00 ET from PR Newswire

LONDON, October 29, 2012 /PRNewswire/ --

IBM demos revolutionary nanotechnology, LOC introduces universal loyalty card and tech companies announce reports early

IBM has successfully demonstrated the use of "carbon nanotubes", a technology that is set to revolutionise the business and consumer electronics market.

The new technology has been designed by IBM scientists to replace the traditional silicon material used in computer chip circuits, which are just a few years away from halting innovation due to their physical makeup. Silicon chips have gradually been reducing in size whilst increasing in power, but thermodynamic limitations mean that there will come a point in the next few years when size reductions on any meaningful scale will become impossible - this is where the carbon nanotubes step in.

Tubes of this composition can be constructed on a microscopic level, allowing computer chips to shrink to previously unimaginable sizes whilst delivering far superior processing power than their silicon cousins. The technology is still brand new, although the successful demonstration this weekend has put it a step closer to becoming commercially viable in the near future.

LOC Enterprises, an innovative provider of retail loyalty programmes, has unveiled the LOC Card Solution, a product designed to allow consumers to use one card to participate in the reward programmes of multiple retailers.

The card will reportedly be available in a format of the customer's choosing, whether that be a traditional card or fob, or an iPhone app, and will allow them to collect reward points, spend coupons and receive discounts from all participating stores, without the need for separate cards.

LOC made the move after a recent study showed that more than half of Americans prefer to have a single loyalty card in their wallets, thereby restricting the ability of merchants to sign up new customers. According to LOC CEO Jack Kennamer, "cumbersome enrolment procedures and no room to carry additional cards" are the key reasons for refusing to join a customer loyalty program. It is hoped that the Card Solution will help overcome this barrier.

Several tech companies listed on the NASDAQ, including ANADIGICS and CommVault, have been forced to move forward their third-quarter earnings statements, after adverse weather conditions threatened the opening of both the NASDAQ and the NYSE this week.

Both companies will announce their earnings up to nine hours earlier than planned after government officials issued a severe weather warning to citizens and businesses in the New York and New Jersey areas. The two northern states are expected to be hit by Hurricane Sandy over the next few days.

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