Google’s Chief Says Economy Will Bounce Back
On Friday, Google’s chief executive, Eric Schmidt, said he expects the U.S. economy to recover this autumn. He added that the worst of the economic meltdown is over and it is "reasonable to be optimistic about 2010."
He was speaking at the Cannes Lions advertising festival in southern France when he said that U.S. jobless claims indicate "the beginning of the bottom."
"The rate of jobless claims is decreasing although the absolute number is increasing," he explained.
Reuters reported that Schmidt did not comment on reports of Google teaming up with engineers to study the technical specifications of Bing, which is Microsoft’s new rival search engine.
But he did say, "Bing is a competitor. We have absolutely looked at Bing; we have actually studied what they do as Microsoft studied what Google does."
Microsoft’s new search engine has been winning some of the U.S. market share for search engines, but it still trails far behind Google and Yahoo.
Microsoft is planning to launch Bing in the U.K. In the fall, although a beta version of the site is already available in Europe.
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