Microsoft has announced it will offer a free version of its popular Office software suite on the internet, challenging rival GoogleÔÇÖs own version, Google Apps.  The move has been seen as an attempt by the Redmond, Washington-based company to protect itself from Google, which already dominates the internet search market.  The web-based version of Office, which is expected to become available next year, could eat into revenue generated by sales of the traditional version, one of the most lucrative arms of its business.

UK drinks maker Britvic has said today that heightened interest in the Wimbledon tennis tournament is set to boost its overall performance this year.

Twelve European companies have agreed to develop a solar power project intended to feed electricity to Europe from the Sahara.

New York-based bank Goldman Sachs is expected to announce profits for the March-June period of up to $2 billion, according to industry analysts.

Royal Philips Electronics NV, EuropeÔÇÖs largest maker of consumer electronics, has surprised analysts by announcing a second-quarter net profit of Ôé¼44 million. Analysts had been predicting the Amsterdam-based electronics company to make a loss of up to Ôé¼123 million, but net profits for the quarter were up, mainly due to an aggressive cost-saving programme.

Scottish oil and gas firm Venture Production has rejected a hostile cash bid from UK energy giant Centrica, saying it ÔÇ£substantially undervaluesÔÇØ the business.

US mobile network operator Sprint Nextel has announced it is to transfer operation of its networks to Swedish telecommunications giant Ericsson. The seven-year, $5 billion agreement, said to be the largest network management deal ever made, will see 6,000 Sprint employees in the US transferred to a subsidiary owned by Ericsson in Overland Park, Kansas, in the third quarter of this year.  Analysts have estimated that the network outsourcing and employee reshuffle could generate annual savings of $100 million for Sprint.

London-based SABMiller, the worldÔÇÖs second-largest brewer, has announced plans to invest $125 million in a new brewery and soft drinks factory in Angola, as part of its ongoing programme of expansion in Africa.  The investment brings the amount invested by SABMiller across Angola in the past eighteen months to $250 million. The new site in Luanda, due to open in October, is expected to produce 500,000 hectolitres (1.32 million gallons) of beer and 200,000 hectolitres of soft drinks each year.

Insurance giant American International Group is said to be in talks over a deal for all or part of its foreign unit, American Life Insurance Co. (Alico), with rival insurer MetLife.┬á  The two firms discussed a possible deal in March, but failed to reach any agreement. It is reported that discussions have been renewed due to improvements in market conditions.┬á Alico, which operates in fifty countries around the world and currently generates over half its revenue in Japan, could offer rival insurers an opportunity to quickly expand their operations overseas.

UK discount clothing retailer Primark has seen a 20% jump in sales for the current financial year, its parent company AB Foods reported.┬á  Sales in the 40 weeks to 20 June were boosted by increasing customer footfall in existing outlets, combined with expansion into Germany and Portugal earlier in the year, the company said. ┬á Primark, which already has a presence in Spain, has recently opened an additional Spanish outlet in Barcelona.