Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 27 May 2014 07:30

Google holding $30bn outside the US

Written by Fudzilla staff



Stash your cash somewhere warm

Search giant Google is keeping more than $30 billion in offshore accounts, according to a recent regulatory filing. Google informed regulators that it could use the stash for possible acquisitions. 

Many tech giants keep a sizable portion of their cash outside the US. In fact, US companies added more than $200 billion to their offshore accounts last year. Google generates about half its revenue outside the US and it sees no need to bring the money stateside and pay tax. 

According to the Dispatch, Google told regulators in late 2013 that it expects “substantial use” of its offshore earnings to fuel new acquisitions and expansion. 

“It is reasonable to forecast that Google needs between $20?(billion) to $30 billion of foreign earnings to fund potential acquisitions of foreign targets and foreign technology rights from U.S. targets in 2013 and beyond,” the company said.

At the end of 2013 Google held $33.6 billion out of its $58.7 billion stockpile in offshore accounts. Much of it is stashed away in Ireland, which is not very sunny, or exotic, but at least it’s an island.

Fudzilla keeps its cash reserve, estimated at tens of dollars, on Johnston Atoll, along with extensive stash of anthrax spores and a few canisters of Agent Orange. You know, for gardening... and stuff. 

Fudzilla staff

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments