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BREAKING STORY: Google is set to launch a brand new search engine days after being taken to task by the Australian Federal Government. They claim that the new engine will deliver searches faster and up to 70% fresher than previous searches due to the introduction of a new indexing system called "Caffeine".

Apple is steaming ahead despite an economic slowdown, with the Company selling 6,892,000 iPhones in the last quarter compared to 1,119,000 in the year-ago-quarter. They have also posted one of their best quarters ever with revenue of $7.9 billion, and net quarterly profit of $1.14 billion, or $1.26 per diluted share. These results compare to revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, up from 33.6 percent in the year-ago quarter. International sales accounted for 41 percent of the quarter's revenue.

Woolworths and JB Hi Fi management have met to discuss the possibility of the mass supermarket retailer buying JB Hi Fi. ChannelNews has been told that Woolworths has appointed an external investment team to evaluate the possibility of acquiring the consumer electronics retailers who this week is set to report their latest profit results.

Elly Valas a leading US retail consultant and the co-author of Guerrilla Retailing has warned Australia retailers that despite an economic downturn they must not become complacent and if anything they should increase their level of service and "spend more on marketing".