Google shares plunge expense shock

The co-founder Larry Page, in his new position as Chief Executive, has aggressively pushed Google into new areas and the search for growth in Mobile and Social networking has come at a high price.

The slump of the Google share price yesterday, down 5%, reflects market concerns that he may be be more concerned with growth than shareholders value.

Google plans to hire a further 6,000 staff in the next year, with all the associated costs, following a hiring spree of 2,000 in the first quarter of the year.

UK revenues for Google were US$ 969 million, which accounts for 11% of total income, this figure 2% lower than  the corresponding figure last year