Category: Business
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Gil Luria, D.A. Davidson’s head of technology research, breaks down Oracle’s first-quarter earnings report and forecast on “Bloomberg The Close.” Oracle’s cloud infrastructure revenue increased 55% to $3.3 billion, while analysts anticipated a 53% expansion. Profit, excluding some items, was $1.47 per share compared with the $1.48 average estimate. Source: Bloomberg Markets.
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Germany saw soaring power prices on subdued renewable output and high carbon costs, while nuclear-supplied France remained shielded from the volatility. Source: Bloomberg Markets.
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China has imposed administrative penalties on LVMH’s Dior brand in Shanghai for violation of data privacy rules. Source: Bloomberg Markets.
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Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Source: Bloomberg Markets.
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SpaceX will acquire wireless spectrum from EchoStar for about $17 billion, in a deal that allows EchoStar to resolve a regulatory probe and pay down debt. Bloomberg’s Kelcee Griffis speaks with Caroline Hyde and Ed Ludlow about how this could change the wireless market on “Bloomberg Tech.” (Source: Bloomberg) Source: Bloomberg Markets.
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Gary, Indiana Mayor Eddie Melton (D) discusses his administration’s progress in revitalizing the city, and what the recent US Steel-Nippon Steel partnership means for the Gary Works facility— the largest US Steel mill in the country. Mayor Melton speaks with Matt Miller and Carol Massar on Bloomberg Businessweek Daily. (Source: Bloomberg) Source: Bloomberg Markets.
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State-owned oil refiners in India want to fully revive purchases of discounted Russian crude — pushing back against US pressure — but plans have been set back by a lack of cargoes, people familiar with the matter said. Source: Bloomberg Markets.
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Copper steadied as traders parsed weakening US employment data that may persuade the Federal Reserve to cut interest rates this year more than previously expected. Source: Bloomberg Markets.
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Emaar Misr and Citystars Properties signed a deal for a development on Egypt’s Red Sea amounting to 900 billion pounds ($18.5 billion), the government said, as the North African nation keeps drawing interest from Gulf investors. Source: Bloomberg Markets.
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Prime Minister Modi wants India to become an economic powerhouse — but that means finding the right balance in its capital markets. Regulators are opening doors to sophisticated foreign investors who see opportunity in its booming derivatives market, while retail investors pay a steep price for the risks they take. Its IPO market is thriving…