I was told BB does not have an API for news. You can not analyse the bloomberg newsfeed outside bloomberg. Can you check with your friend how he has done it to do it after all ? OLiver
Portfolio123.com translates fundamental news to trade on once you specified what the fundamentals mean to your system.
If I remember correctly, his developer automated the news request, and then screen scrape the resultant screen. I am not sure. I can not ask since I am now in a competitive situation.
Interpretation of news! That's separate human skill from computer, we're still good than machine in interpretation of news. This is an ambitious project. I think the artificial intelligence of today is not yet very good to deal with it, maybe in the future. If successful, you will replace Wall Street's traders with robots, and robot trades against another robot like in chess game, one computer plays against another computer, no one chess master had imaged 100 years ago that they could be beaten by machine. Again, in Wall Street, maybe computer will be superior, who know in the far future.