The Google I/O three-day annual developer event in San Francisco today kicked off with a slew of product news.

Google is expanding its Nexus sub-brand of smart products from an Android phone (with Samsung, unveiled in October) to a streaming media player and the product that garnered the most buzz today: its first tablet, Nexus 7, a 7-inch device co-developed with Asus.

Nexus 7 is a bigger challenge to Amazon's 7-inch Kindle Fire than it is to Apple's iPad. The tablet costs $199 (8GB) or $249 (16GB) and is available to purchase now, with shipping starting in July.Continue reading...

Miami Heat and LeBron James win NBA title.

Abbott challenges ease of biotech drug copies.

Air France to cut 5,000 jobs.

Benetton takes Cannes award with "Unhate" campaign.

Best Buy tells investors its turnaround plan involves boosting training and services.

CBS plans to launch sports radio network.

Dow Jones plans to take Smart Money magazine to web only.Continue reading...