Baidu Inc made a forecast for its revenues for the third quarter, outpacing well ahead Wall Street's expectations as large advertisers increased spending. A Chinese top search engine has seen a significant growth of its profits as it has focused on online video and e-commerce over the past time. Seeing large flows of money from big advertising customers in the largest Internet market in the world Baidu posted $252.6 million net profit in the second quarter of 2011.

Yahoo reported a decline in its net revenue for the second quarter as a result of unnecessary redundant efforts aimed at restructuring its sales force.

On Thursday a fourth-quarter report will be posted by Microsoft. The company will report a 9% increase in its profit while investors are not satisfied as they believe the Redmond company will never again recapture its old growth rates. Microsoft’s shares have grown by 10% over the past month but they still remain in the mid-$20 range, a level they have circled since 1998, adjusted for splits.

Users will soon be able to avail themselves of Wi-Fi roaming. The Wi-Fi Alliance along with the Wireless Broadband Alliance are developing standards for the new service following the same offering in the mobile industry. The idea of the initiative is to allow travellers to fire up their PC/tablet/smartphone and have it automatically log onto the nearest Wi-Fi network that has a roaming agreement with the home network.

New research found that too much Internet browsing may result in damaged brain. Chinese researchers used a limited testing group to discover possible evidence that excessive use of the Internet may lead to the change of physical characteristics inside your head.

The Internet Corporation for Assigned Names and Numbers voted overwhelmingly for the proposal to allow the introduction of new website domain suffixes by private companies, enabling major firms to replace ".com" with their own brand. The voting took place at a meeting in Singapore. "This is the biggest change to domain names since the creation of '.com' 26 years ago," said Theo Hnarakis, chief executive of Melbourne IT Digital Brand Services, a California-based company that provides online branding services.

New iteration of Apple’s operating system for desktops would include that a feature to allow quick access to the Internet surfing without logging back to the system when it is locked. Apple is introducing to its new coming OS X Lion desktop OS a browser-only mode called "Restart to Safari.” With this feature appearing as an option on Lion's lock screen users will be able to access to a sandboxed version of the Safari browser. However, users won’t access their desktop applications or other files from this mode.

Matt Cutts posted new video footage at Google Webmaster Central where he answered the question of a user: “More or less content on a homepage?” “You can have too much,” says Cutts. “So I wouldn’t have a homepage that has 20MB. You know, that takes a long time to download, and users who are on a dial-up or a modem, a slow connection, they’ll get angry at you.”

In a move to test the Internet for its readiness for a future with billions more people and devices networked, web companies including Google, Facebook, Yahoo and others joined their forces. As it has been reported many times the number of Internet addresses used for most traffic is about to exhaust and it is urgent that all web resources adopt IPv6 which has 4 billion times as many addresses.

The meeting of tech industry players ended up in selecting Eric Schmidt of Google Inc and Mark Zuckerberg of Facebook and others as delegates to talk at the Group of Eight meeting Thursday in Deauville, France. Schmidt and Zuckerberg uttered their warning to governments to tread lightly on Internet regulation because moves to tame its rough edges risked hurting its virtues.

A lawsuit has been filed with the US District Court in Manhattan by 8 New York residents. The plaintiffs are suing Baidu Inc and the People's Republic of China accusing the search engine of conspiring with the country's government to censor pro-democracy speech. In their filing plaintiffs claim that the Chinese company violates the U.S. Constitution and name not only Baidu by also the Chinese government as defendants. According to the plaintiffs’ lawyer it is the first case of its type.

Sunday a great number of Turks protested against new Internet controls introduced by the Turkish government. The protesters expressed their objection both online and on the streets.

The business of a social networking giant Facebook is growing much faster than expected several months ago and according to the Wall Street Journal report the company is about to reach $2 billion in earnings before interest, taxes, depreciation and amortization in 2011. Analysts expected slower growth for Facebook when Goldman Sachs and Digital Sky Technologies invested in the social networking company. Goldman's and Digital Sky Technologies' investment was at a share price that implied a $50 billion valuation for Facebook.

European Union plans to adopt a new legislation that obligates social networking websites like Facebook and search engines like Google to keep users’ privacy and in case they fail to obey the rules these companies would face court action, European Union justice chief Viviane Reding said on Wednesday.

AOL Inc plans to contract its staff by 900 job positions which is about 20% of its global workforce. With 5,000 workers AOL will cut nearly 400 jobs in India, outsource another 300 there, and eliminate 200 jobs in the United States, a source close to the company said. At its peak AOL had over 20,000 workers. However, since the 2001 takeover of Time Warner Inc and its spin off in 2009, the AOL has been sadly declining.