Microsoft is expected to demonstrate its new search engine at the Wall Street Journal's D: All Things Digital conference in Calif. The new search engine is 'currently' named Kumo.
Will keep posted on the updates.
http://blogs.msdn.com/livesearch/archive/2009/03/03/testing-one-two-three.aspx
An Update: Microsoft has launched a new search engine called Bing at: http://www.bing.com
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