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Despite lingering concerns about its transition to mobile, Google ended 2012 with a strong fourth quarter. As the company reported yesterday, full-year revenues topped $50 billion for the first time last year, while full-year profits soared to new highs of $10.75 billion.
Google’s stock price reacted positively in after-hours trading, reaching $741.50, as the results beat Wall Street expectations. Larry Page, Chief Executive Officer of Google, said:
To put this growth in context, check out this infographic by Statista below.
Official comments have injected volatility into the foreign exchange market. As we anticipated, Japanese officials pushed back against the seemingly free-fall in the yen sparked by the aggressive BOJ action and the diversification of the government pension funds. Finance Minister Aso expressed concern about the pace of the yen's decline. However, comments by Abe-adviser Hamada underscored that the direction was no objectionable and that JPY120 would be good for the Japanese economy. The dollar was pushed off a full yen to roughly JPY117.35 before finding a good bid. Read more
Joseph E. Stiglitz,
Jeffrey D. Sachs,
Mohamed A. El-Erian,
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