(AFX UK Focus) 2009-03-05 21:52 CORRECTED-UPDATE 2-Google letting cash “pile up”-CEO (Interactive Investor)
SANTA BARBARA, Calif., March 4 (Reuters) - Google Inc plans to let its cash "pile up" as it weathers the economic recession, the Web search leader's Chief Executive Eric Schmidt said on Wednesday. Google will only use its $8.6 billion cash cushion for "very very conservative investments," Schmidt said, and is unlikely to start a dividend in the current environment. "We've not really discussed a ...