Turmoil at Opel - Google parent Alphabet profit leaps on ad growth
If Europe is the main region of the so-called 'techlash,' then Germany is its capital. The country's Federal Network Agency is currently locked in a legal battle with Google and according to its boss, it means business.
Alphabet, the parent company for Google, reported better-than-expected profits in the first quarter. The first-quarter surge came on the back of strong ad sales and an accounting adjustment for investments in startups.
The 62-year-old who was brought on as a mature hand for the infant Google in 2001 has announced his resignation from parent company Alphabet. Schmidt will remain on the board in an advisory capacity.
The EU has unveiled a proposal to overhaul how multinational tech giants are taxed in the 28-nation bloc to prevent the companies from exploiting tax loopholes. The move is likely to exacerbate global trade tensions.
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