Microsoft announced Microsoft Office Live Workspace as part of their strategy for online services.

Microsoft Office Live Workspace, a new Web-based feature of Microsoft Office lets you access your documents online and share your work with others. Microsoft is slowly getting their environment together to compete against the growing Google Office online eco system.
Microsoft Office Live Workspace will be available for free. You can pre-register for the English language beta of Office Live Workspace today here.

Microsoft also announced Microsoft Exchange Labs, a new research and development program for testing next-generation messaging and unified communications capabilities in high-scale environments, the continued customer and partner support for Microsoft Dynamics™ Live CRM, the renaming of the Microsoft Office Live hosted small-business service, a service dedicated to addressing key small-business pain points, including core IT services and sales and marketing services, to Microsoft Office Live Small Business and Microsoft BizTalk Services, a building block service that enables developers to rapidly and cost-effectively build composite applications, to help enable greater cost efficiencies.