GALVANIZED: Google wil buy a stake in AOL for US$1 billion in a deal that is hoped will boost both companies' revenue from online advertising through synergistic exchanges
America Online (AOL) formally announced a revived partnership with Google Inc on Tuesday, a deal that affirmed AOL's value less than a year after a chorus of calls for its parent, Time Warner Inc, to dump the division as a lost cause.

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LEGAL PROTECTION: The debt-ridden company said it plans to keep providing power supplies while addressing its financial challenges under a Chapter 11 bankruptcy filing
California-based power company Calpine said late on Tuesday it had filed for bankruptcy to better restructure its power plants and facilities in the US, Canada and Mexico, under Chapter 11 of the US bankruptcy code.

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The flood of unwanted e-mail or "spam" appears to be subsiding in the US as a result of a 2003 law and technological advances, according to a government report released on Tuesday.

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Lenovo Group Ltd (聯想), the Chinese computer company, said on Tuesday that it had recruited a senior vice president from a rival, Dell Inc, as its new chief executive and president.

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SHARING IDEAS: The Japanese telecoms titan will cooperate with Fuji Television on developing digital services that can be viewed on a cellphone
NTT DoCoMo Inc, the world's second-biggest mobile phone operator, will spend ¥20.7 billion (US$177 million) for a 2.6 percent stake in Fuji Television Network Inc to develop services for digital TV programs on cellular handsets.

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Japanese engineering firm Chiyoda said on Tuesday it had won a US$4 billion deal jointly with France's Technip to build two liquefied natural gas (LNG) plants in Qatar, calling it one of the biggest projects of its kind.

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■ Internet
eBay abandons pet plan
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