SEARCH ENGINES

GOOGLE TO PAY $90M IN OVERCHARGING CASE SAN FRANCISCO – Google has agreed to pay $90 million to settle a lawsuit alleging the online search engine leader overcharged thousands of advertisers who paid for bogus sales referrals generated through a ruse known as “click fraud.”

The proposed settlement, announced by the company yesterday, would apply to all advertisers in Google’s network during the past four years. Any Web site showing improper charges dating back to 2002 will be eligible for an account credit that could be used toward future ads distributed by Google.

The total value of the credits available to advertisers will be lower than $90 million because Google has earmarked part of that amount to cover fees of lawyers who filed the case last year in Arkansas state court. The proposed settlement still requires final court approval.

The lawsuit, filed by Lane’s Gifts and Collectibles on behalf of all Google advertisers, revolves around one of the most sensitive subjects facing Google and Yahoo, which runs the Internet’s second largest marketing network.

Yahoo, which is also named in the suit, said yesterday that it intends to fight the lawsuit’s allegations.

– Associated Press

INVESTING

AFFLUENT INVESTORS LOOK TO ASIA Most affluent American investors are optimistic about their prospects this year – and say that Asia will offer the best returns over the next 12 months.

A Bloomberg/Los Angeles Times poll found that 60% of affluent investors expect returns of 10% or more in 2006. Fifty-one percent name Asia as the region with the best investment climate, more than twice the number who say America. Asked where they would put $1 million today, almost three in 10 say real estate, 22% say stocks, 14% say mutual funds, and just 8% say bonds.

The poll of 712 investors with household incomes exceeding $100,000 was conducted February 25 to March 5. Asia’s appeal to affluent investors is substantially greater than among other Americans, only 30% of whom said it will offer the best prospects. ‘With all the development in Asia, and especially China, that’s the biggest spot for growth,” said Bobby Miller, 64, a retired human resources executive who lives outside Charlotte, N.C., and who participated in the poll.

One in four of the investors names America as the best place to invest, and 12% like emerging markets such as Brazil and Thailand. Only 6% favor Europe.

– Bloomberg News

IN BRIEF

New York State’s seasonally adjusted unemployment rate fell to 4.6% in January, down from 5% in December, state labor officials report … More economists are betting Federal Reserve policy makers will raise interest rates at least three more times this year … Fidelity International and Knight Vinke Asset Management rejected a sweetened $8.9 billion offer for VNU from a group of buyout firms including Blackstone Group and Kohlberg Kravis Roberts & Co.

– Bloomberg News and Associated Press