Matt Cutts announced this week that there will be a Panda refresh either rolled out this weekend and that it will be the last update that is done manually. What that means is that the Panda algorithm will continue to update but that it will be done automatically.
The regular Google algorithm is something that changes automatically in what is referred to as rolling updates. This change signals to internet users that Google has finished fine-tuning the Panda algorithm so that it is now capable of updating on its own.
Matt Cutts also revealed that Google will be going after yet another link network soon. Last week the link network SAPE was heavily penalized and so were the websites who had engaged in using links through them.
The announcement does not specify which link network will be the next target but it is safe to say that link networks are not safe. Links are important for any website but getting links through unnatural means is not an acceptable practice and Google is becoming more rigid with penalizing websites that use those means.
The Penguin algorithm will undergo a major change that will affect Webmasters sometime in 2013. Though it was not said when this will take place, it was said that the change will be noticeable and will have a big impact on search.
Google announced an upcoming algorithm that will lessen the validity given to low quality merchants. This will be considered separate from Panda and Penguin but does not yet have a name.
Google released a how-to for owners of hacked sites that want to be re-indexed. The Google Webmaster help for hacked sites resource explains the steps a website owner should go through if they have been hacked.
In answer to a question posed at SMX West, Matt Cutts announced that larger brands are treated no differently from small brands when it comes to search engine priority. He stated that large brands are penalized the same as small ones but that they do not speak about it so everyone assumes there are none.