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March 29th - U.S. employment is likely to rebound in March after one of the largest job losses since the pandemic began. Economists estimate that 60,000 jobs were added this month after a loss of 92,000. The unemployment rate is expected to remain at 4.4%. Employment has not increased for several months since May of last year, indicating a lack of significant hiring momentum in the labor market, but without any worrying signs of deterioration. Against this backdrop of limited job opportunities, renewed concerns about inflation due to the war in the Middle East, fueled by soaring gasoline prices, have fueled fears among Americans. Economists point out that Marchs job growth is expected to rebound after disappointing February employment data—in which construction and leisure and hospitality jobs may have declined due to weather conditions. Employment in the healthcare sector may also increase as more than 30,000 Kaiser Permanente employees ended their strike.March 29th - According to Nikkei, U.S. electric vehicle manufacturer Tesla (TSLA.O) plans to double the number of its directly operated service outlets in Japan this year, reaching over 30, in an effort to improve after-sales service and expand market share. Tesla currently operates 14 service centers across the country, primarily located in major cities. These centers are equipped with facilities for vehicle inspection, maintenance, and repair, including bodywork. Many new service centers will be located near Tesla dealerships. The company will utilize existing spaces previously used as repair shops to rapidly expand its service network at a lower cost. In areas without directly operated service centers, Tesla partners with local auto repair shops to provide customers with over 50 vehicle maintenance service points.March 29th - According to the Wall Street Journal, hundreds of thousands of protesters may take to the streets on Saturday for nationwide "No Kings" rallies to protest President Trump. Organizers say Trump governs the country more like a king than a president. This Saturdays protest is the third "No Kings" rally in less than a year, amid controversy surrounding the actions of U.S. Immigration and Customs Enforcement (ICE) and debate over the deployment of federal troops to cities across the country. Organizers said this week that the U.S. involvement in the Iran war is another factor driving the protesters to the streets. Videos circulating on social media show protesters gathering on a beach in San Francisco, California, forming signs that read "Trump must step down immediately!"The UAE Ministry of Defense announced that it has activated its air defense system in response to missile and drone attacks from Iran.On March 29, the German Federal Government approved the "2026 Climate Protection Plan," allocating an additional €8 billion over the next four years to promote the achievement of 2030 emissions reduction targets through measures such as expanding wind power capacity and increasing subsidies for new energy vehicles. The German Ministry of the Environment stated that these measures could reduce carbon dioxide emissions by over 25 million tons by 2030, and reduce natural gas consumption by nearly 7 billion cubic meters and gasoline consumption by approximately 4 billion liters. German Environment Minister Carsten Schneider stated that this climate protection plan will inject "new momentum" into climate action and help reduce Germanys dependence on high-cost, unreliable oil and gas imports.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.