Recovery to begin soon: Google

June 29, 2009 · Filed Under News · Comment

Here is some good news after a relatively long bad spell.
According to Eric Schmidt, internet search giant’s chief executive, a US recovery is likely to begin this autumn.

Speaking at the Cannes Lions advertising festival in southern France, Schmidt admitted that the worst fiscal downturn since the Great Depression of 1930s was over and it would be “reasonable to be optimistic for 2010.”

“The rate of jobless claims is decreasing although the absolute number is increasing,” he said.

Schmidt however refused to comment on the rumors that said Google had set up a team of engineers to study the technical specifications of Bing, the search engine launched by Google’s archrival Microsoft.

However he did mention, “Bing is a competitor. We have absolutely looked at Bing; we have actually studied what they do as Microsoft studied what Google does.”

Launched less than a month ago, Microsoft’s Bing search engine managed to capture a considerable amount of internet seekers but is trailing Google and Yahoo Inc.

Bing is due to be launched in UK this autumn where as a test version is already available.

Tags: Bing, financial crisis, Gogole, Microsoft, recovery