Tag: Business
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Oracle’s AI spending blows past estimates, raising worries over growing debt
June 10 : Oracle on Wednesday forecast capital spending plans for fiscal 2027 above Wall Street estimates, as the cloud computing company said it will also raise more debt in 2027, reflecting the staggering scale of cash burn needed to build out its AI infrastructure.Its shares fell 8.9 per cent in extended t
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South Korea presses EU for fair treatment on new steel import duties
SEOUL, June 11 : South Korean President Lee Jae Myung asked the European Union to give Korean steel makers “favorable consideration” as the bloc gets set to raise import tariffs on July 1, his office said on Thursday. Lee made the request during a summit with European Council President Antonio Costa and Europ
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Jim Cramer says one of SpaceX’s biggest risks is this group of investors
CNBC’s Jim Cramer said one of the biggest risks facing the SpaceX IPO is speculators who may rush to sell shares shortly after the stock begins trading.
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Cramer’s lightning round: ‘BlackBerry is good’
“Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.
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Anthropic urges US not to block state AI laws without setting federal standards
WASHINGTON, June 10 : Anthropic called on the U.S. Congress on Wednesday not to block state AI regulations unless lawmakers pass a “rigorous” federal law that addresses “catastrophic AI risks,” according to a company statement, as part of a broader proposal to set rules on the technology.U.S. President Donald
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Microsoft’s Xbox plans for major layoffs next month, Bloomberg News reports
June 10 : Microsoft’s Xbox division is planning major layoffs next month and significant cuts to marketing and other budgets, Bloomberg News reported on Wednesday. The job cuts would mark the first major restructuring under Asha Sharma, who took charge as CEO of the gaming unit in February.Microsoft di
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US charges suspected Russian hacker with facilitating cyber campaign
BOSTON, June 10 : A suspected Russian hacker is now in U.S. custody following his arrest in Thailand last year and has been charged with facilitating a campaign of cyberattacks carried out by a Russia-aligned group that victimized numerous U.S. companies.Denis Obrezko, 36, made his initial appearance in feder
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Jim Cramer says investors have ‘lost their appetite for danger’ as defensive stocks take the lead
CNBC’s Jim Cramer said investors are rotating into defensive sectors, signaling a growing preference for safety over risk.
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Oracle’s AI spending for 2026 exceeds forecast, raising worries over growing debt
June 10 : Oracle’s capital spending for 2026 exceeded its projection and the cloud computing company said on Wednesday it would raise more debt in 2027, reflecting the staggering scale of cash burn needed to buildout its AI infrastructure.Its shares fell 5 per cent in extended trading, after Oracle said it ex
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Oracle awarded US contract to provide government-wide HR software
WASHINGTON, June 10 : President Donald Trump’s administration has awarded Oracle a contract to provide a U.S. government-wide HR platform, according to a statement, making the company a partner in its effort to overhaul federal technology systems. Oracle will provide a cloud-based HR platform to replace the
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