CHALLENGING FACEBOOK: The alliance will introduce a common set of standards to allow software developers to write programs for Orkut, LinkedIn, hi5 and others
Google Inc is setting up a distribution network for social networking applications, adding a new twist in the Internet search leader's brewing rivalry with rapidly maturing startup Facebook Inc.

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US computer networking giant Cisco Systems plans to more than triple its workforce in India and turn the South Asian nation into a platform to tap and service markets worldwide.

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SUBPRIME FALLOUT: Stan O'Neal's departure had been expected ever since the brokerage announced a third-quarter operating loss of US$2.24 billion last Wednesday
Merrill Lynch ousted its chairman and chief executive Stan O'Neal on Tuesday, just days after the global investment bank and brokerage posted some of the biggest losses in its 93-year history.

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Verizon Wireless and Sprint Nextel Corp are in "advanced talks" with Google Inc about carrying a cellphone powered by the Web company's software, according to a published report.

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Oil prices dropped below US$90 a barrel yesterday in Asia ahead of the US central bank's impending decision on its key interest rate.

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The US has regained its status as the world's most competitive economy thanks to strong innovation and excellent universities, according to a survey released yesterday by the World Economic Forum (WEF).

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