Here’s the latest action:

Google: Expect 18 Android phones by the end of the year — That number could be as high as 20, says Andy Rubin, senior director for mobile platforms.

News Corp. and MySpace execs say MySpace needs to innovate — During an interview at the All Things Digital conference (owned by News Corp., incidentally), MySpace chief executive Owen Van Natta also discussed concerns that the site might lose its lucrative search deal with Google, saying the deal is not “the majority of our revenue.”

Music labels start making friends with startups — The New York Times offers labels’ accommodation of music service imeem as a sign of greater cooperation.

IBM sues to stop merger exec from joining rival Dell —
This is the second time (at least) in the last few months that IBM has filed a lawsuit to stop a top executive from leaving.

Nokia’s Ovi Store bounces back after opening day glitches —
Those glitches have been fixed and the store appears to be running smoothly.

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VC Tim Draper says it’s the “best ever time” to start a businessYes, ever.

RIM CEO says it’s not a one-size-fits-all business — Push email will help RIM’s BlackBerry phones fight off the competition, particularly among corporate users, Jim Lazaridis says.

Facebook proposes new payment terms — The social networking company says its goal is to make payment terms simpler and more flexible.

Google testing Apps Scripts — That allows customers to bring customization and automation into Google’s office applications, starting with spreadsheets.

PeopleBrowsr, another Twitter/Facebook desktop app — The product seems best-suited for tracking brands or companies on social networks, rather than for casual users, according to TechCrunch.

AdventNet, parent company of productivity software maker Zoho, renames itself Zoho — It’s just easier that way.

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