Google Inc. avoided about US$2-billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show.
By legally funneling profits from overseas subsidiaries into Bermuda, which doesn’t have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved to Bermuda is equivalent to about 80 percent of Google’s total pretax profit in 2011.
By Intelligent Speculator: Sometimes I feel like I could write a daily blog about Google (GOOG). Things move that quickly and while a lot of this stuff has limited impact on the short-term revenues and earnings, I do still think they do matter when trying to determine Google’s longer-term value. Why?
Google (NASDAG:GOOG) has an opportunity to capture significant market share in the tablet OS market through the much publicized Amazon (NASDAQ:AMZN) tablet, which would be powered by Android.
Google CEO Larry Page hinted to Wall Street on his Q4 2012 earnings call that he was "really excited" about Google's new e-commerce play, Google Shopping. The new search feature allows retailers to buy search results for people looking for something like "laptops" and display them as products -- a bit like the way Amazon displays its goods.
Google and Amazon in rivalry for online books and market share. Hyundai Heavy Industries received an order for 5 new LNG ship carriers. Mario Monti will take part in the coming elections. Champaign consumption in France decreased with the implementation of new taxes.