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News summary 18/07/08
Microsoft has made its submission to the US Senate committees investigating the implications of Google's recently formed Internet Advertising deal with Yahoo!.Brad Smith of Microsoft claimed that the deal could bring less competition and higher ad prices if it goes ahead, while also warning of potential privacy implications.
Meanwhile, Google and Microsoft have announced details of their latest quarterly financial results, with both firms increasing revenue in the three months ending in June.
However, Google reported lower profit compared with the same period last year, with Microsoft announcing that it had broken through the $60 billion (£30.1 billion) barrier in terms of annual turnover.
In other Google news, the search engine has just announced the acquisition of Russia-based ZAO Begun, a contextual advertising company.
The purchase is hoped to further Google's business in Russia by providing advertisers with opportunities across a wider network of websites, according to the search engine.
Online Advertising news posted on 18 July 2008
