Firmware development for all Nikon digital cameras and interchangeable lenses will now be undertaken by a new company named Nikon Imaging Systems. The new company is a joint venture between Fujitsu Broad Solution & Consulting Inc. and Nikon Systems, a subsidiary of Nikon Corporation. The initial investment will be around $1m and the company will employ 100 people. (13:50 GMT)

Just posted! Our waterproof camera group test. Summer time means visiting the seaside, riverside, or your local pool - these are times for fun in and out of the water. And your camera should be able to keep up with you every step of the way. In our latest group test we look at five waterproof cameras to see which is the most deserving of your hard-earned cash so you can enjoy a summer of worry-free shooting. (16:30 GMT)

Olympus has released an update to its Master and Studio image-editing software. Version 2.2 of the Master and v2.3 of Studio enable users to apply Art Filter effects to RAW files, rather than having to choose them as you shoot. It also extends RAW support to the E-P1 and now includes a video editor to edit that camera's HD videos. (10:45 GMT)

Ricoh has released a firmware update for the CMOS-based CX1 digital compact camera. Firmware v1.24 resolves minor issues pertaining to image orientation data and printing. The firmware is available for immediate download from Ricoh's website. (08:45 GMT)

Micron Technologies has announced the first flash memory cards to use its 34-nanometer process technology. Its subsidiary, Lexar, will incorporate the new 32Gb NAND chips into its 32GB Platinum II SDHC memory card. A 16Gb microSDHC card (commonly used in mobile devices), will also make use of the 34nm technology NAND chips. Lexar has said it will incorporate the technology into an increasing proportion of its flash memory card range. (16:55 GMT)

Cooliris has released the latest version of its image browsing plug-in. Version 1.11 allows the Cooliris 3D Wall to be used within a browser tab, enabling toggling between tabs of image walls. Users with Flickr accounts can now browse images complete with title, author, description and tags, and can choose to view their own sets and pools. It also supports MySpace, Facebook and other social networking websites. (10:35 GMT)

AgfaPhoto has announced the DC-600uw rugged compact camera. It is claimed to be water-resistant up to 10 meters and can withstand pressure of up to two bar (29psi). Its exterior is designed to protect against dust and dirt. The camera has a 6MP sensor, a 2.4" LCD and includes Face Tracking and video recording for easy sharing on YouTube. Priced at €149, it will be made available next month. (12:15 GMT)

Phase One and product managers of medium format maker Leaf are in the process of buying key elements relating to the Leaf brand from owners Kodak. These brand rights, research and development and production capabilities are being bought by a new company called Leaf Imaging Ltd which is 100% owned by Phase One. The new entity will have access to Kodak's intellectual property portfolio via a licensing agreement. The new company will continue to make and develop the Leaf Aptus range of digital backs but will not initially sell the AFi-II camera system. We spoke to Phase One's President and CEO who explained what the deal will mean for Leaf users. (17:30 GMT)

SanDisk has introduced the world's fastest 32GB SDHC card. It reads and writes at speeds of up to 30 megabytes per second and adheres to the new SD Association Class 10 specification. The card can record up to 160 minutes of 1920x1080 pixels HD videos at 24Mb/s data transfer rate. It will start shipping in August. (10:30 GMT)

Pentax has announced the Optio W80 rugged compact camera. It's certified waterproof at depths of up to 5 meters for two hours, shockproof for drops of up to 3.3 feet (1m) and coldproof up to -10 degrees Celsius. It's got a 12.1MP sensor, 5x optical zoom and a 2.5" LCD, and includes features such as HD movie recording and Pixel Track digital Shake Reduction. (08:45 GMT)

Adobe has updated its DNG digital negative specification to allow a series of image corrections to be embedded in the file. Version 1.3 of the non-proprietary RAW file format allows a series of 'corrections and enhancements', which Adobe is calling opcodes, to be defined in DNG files. These opcodes include the ability to specify corrections for lens aberrations such as geometric distortion and lateral chromatic aberration that should be made to the RAW data when it's processed. (10:45 GMT)

Adobe has released Photoshop Lightroom 2.4 and Camera Raw 5.4. The full, release version of the ACR update, that was originally posted as a release candidate on the Adobe Labs site, is now available for immediate download along with the Lightroom update. Both provide additional Raw support for Canon EOS 500D, Nikon D5000 and 18 Hasselblad models. (08:45 GMT)

Sigma has posted a firmware update for its DP2 large-sensor digital compact. Version 1.02 improves autofocus performance and allows you to access magnified live view with a single button press when in manual focus mode. (08:50 GMT)

Panasonic has released firmware updates for its Lumix DMC-GH1 and DMC-G1 Micro four thirds cameras and the Lumix G Vario HD 14-140mm F4.0-5.8 ASPH. MEGA O.I.S. lens. The updates improve compatibility with recently launched lenses and bodies from Olympus along with minor corrections and original battery confirmation. The latest updates take the GH1 and the 14-140mm HD lens to Firmware v1.1, and the G1 to v1.3.The firmware updates are now available for download. (06:00 GMT)

Just posted! Our lens review of the Nikon AF-S Nikkor 50mm F1.4G. This version replaces the AF-Nikkor 50mm F1.4D we reviewed last year, bringing entirely new optics and a built-in AF-S motor which allows autofocus on all of Nikon's DSLRs. On its introduction Nikon hailed it as 'redefining the standard lens concept', so how well does it live up to these lofty claims? (11:45 GMT)