Google’s Android proving extremely profitable At the Techonomy conference this week, Google’s CEO Eric Schmidt revealed  that their Android smartphone has not only acquired a strong standing in the smartphone market, but as also proved to be a financial success. According to Schmidt , “Trust me that revenue is large enough to pay for all of the Android activities and a whole bunch more.” Google Changes Their Search Policy in Europe Google announced  on Wednesday that will amend its search policy in Europe to allow marketers to bid on trademarked terms. The changes stem from a decision ruled by the European Court of Justice in the spring, regarding a law suit between LVMH Moët Hennessy Louis Vuitton and Google, which stated that Google had to abide by trademark laws and allow advertisers to purchase keywords related to third-party trademark terms. Google Wave to be Shut Down Google announced this week that it will be shutting down their Google Wave service. The service was launched in May 2009, but has struggled to develop a user following. Urs Holzle , Google’s senior vice president of operations, explained that, “Wave has not seen the user adoption we would have liked. So we don’t plan to continue developing Wave as a standalone product, but we will maintain the site at least through the end of the year and extend the technology for use in other Google projects.” Suggested Articles: Facebook’s Shopping Spree Caroline McCarthy  reports on the details behind a set of eighteen patented technologies Facebook acquired when they purchased Friendstr last year. Microsoft vs. Salesforce.com Conflict Forewarns of Future Cloud Battles Check out Nicholas Kolakowski’s article  on eWeek.com that discusses the recent dispute between Microsoft and Salesforce.com regarding patent-infringement and argues that, although the two have decided to settle their disagreement outside of court, the case forewarns of future Cloud conflicts. Google and Bing’s Search Arms Race In an article in the NYTimes this week, Claire Cain Miller and Ashlee Vance  take a closer look into the developing arms race between Google and Bing to produce the newest and most innovative search features.