Internet leader Google said on Thursday it saw no impact from a weakening US economy as it posted a better-than-expected quarterly profit and waved off fears of an online advertising slump.
Google's hard-hit shares surged 18 percent above $500 (£250) - a level last seen in February - as the company showed signs of better cost control and earned more revenue abroad than at home for the first time, partly because of the weak dollar.
The internet will usurp television as the biggest advertising medium in Britain by the end of 2009, according to a report published on Monday.
Britain has the most developed online-advertising market in the world. According to the report by the Internet Advertising Bureau (IAB), PricewaterhouseCoopers and the World Advertising Research Center, the UK online-ad market was worth £2.8bn in 2007.
Industry News taken from zdnet.co.uk