InternetGoogle says AOL investment may be impaired: filing (Reuters)

Reuters - Google Inc's 5 percent stake in Time Warner Inc's AOL unit may be worth less than the $1 billion the Web company paid for it in 2006, Google warned in a regulatory filing on Thursday.

SAN FRANCISCO (Reuters) - Google Inc's 5 percent stake in Time Warner Inc's AOL unit may be worth less than the $1 billion the Web company paid for it in 2006, Google warned in a regulatory filing on Thursday. "We believe our investment in AOL may be impaired," Google said in its latest quarterly financial filing with the U.S. Securities and Exchange Commission. Google said it would continue to review its investment for impairment, and impairment charges could be required in the future. In a deal announced in December 2005, but closed in the first half of the following year, Google paid $1 billion in cash for a 5 percent indirect equity stake in AOL. In return, Google secured AOL's search advertising business, and AOL remains Google's largest search ad affiliate, analysts say. The deal by the Mountain View, California-based company gave AOL a theoretical valuation of $20 billion at the time. For more than a year, Time... [ Read more on www.yahoo.com ]

InternetMajor Internet security flaw also affects e-mail (AP)

AP - A newly discovered flaw in the Internet's core infrastructure not only permits hackers to force people to visit Web sites they didn't want to, it also allows them to intercept e-mail messages, the researcher who discovered the bug said Wednesday.

InternetVonage's subscriber growth grinds to a halt (AP)

AP - Vonage Holdings Corp.'s subscriber growth nearly ground to a halt in the second quarter, as the Internet telephone company said Thursday it gained just 2,000 lines in the period.