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100
MB free with Yahoo e-mail
San
Francisco:
Internet giant Yahoo! Inc is providing a boost to its
free e-mail service with 25 times more storage. It is
also freeing up millions of previously claimed e-mail
addresses.
Beginning
today, all of Yahoo's free e-mail accounts will be upgraded
to 100 megabytes, a move spurred by Google's plans to
offer 1,000 megabytes of free storage through its Gmail
service, which has remained in a test phase since early
April. Yahoo
has also decided to let people sign up for addresses that
have been inactive for years.
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Morgan
Chase and Bank One to merge
Washington:
The US Federal Reserve has cleared the way for Wall Street
powerhouse JP Morgan Chase & Co to combine with and
absorb Chicago-based Bank One Corp, forming the nation's
second-largest bank with more than $ 1 trillion in assets.
The Fed's Board of Governors has approved the deal.
New
York-based JP Morgan Chase already is the No. 2 US bank,
with assets of some $ 801 billion and operations in more
than 50 countries. Bank
One, the sixth-biggest bank with branches in 14 US states,
has $ 320 billion in assets and over 51 million credit
cards issued. The
new institution will be headquartered in New York.
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Boeing
to replace US Navy's Orions
Washington: The Boeing Co has won a $3.9 billion
contract for a new US Navy patrol plane, the Pentagon
has said. The multimission marine planes will be used
to hunt submarines, maritime patrol and other functions.
Boeing's
entry is based on converting its popular 737 commercial
jet for military use. Plans
eventually call for the Navy to replace its aging fleet
of 223 P-3 Orion aircraft with 109 of the new planes.
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