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    Safra Catz, co-chief executive officer of Oracle Corp., speaks during the SelectUSA Investment Summit in Oxon Hill, Maryland, U.S., on Monday, June 19, 2017. The SelectUSA Investment Summit brings together companies from all over the world, economic development organizations from every corner of the nation and other parties working to facilitate foreign direct investment (FDI) in the United States.Eric Thayer | Bloomberg | Getty Images The week got off to an uneventful start on Monday, with major tech stocks taking a breather. But Oracle shares had their best day in almost a year, rising 5% following the publication late Friday of a Barron's cover story about the cloud prospects of 43-year-old software and hardware maker. The thesis is that Oracle could be the next longstanding technology company to transform like Adobe, Autodesk and Microsoft, which changed up their business models to embrace cloud-based services over traditional licensed software, and saw...
    Utah parents drop Black history curriculum opt out request Two killed as multiple bombs rock Afghan capital Cisco earnings report shows infrastructure platforms, its biggest business, is still struggling Cisco's earnings results came in ahead of estimates. Cisco's infrastructure platforms business, its top product segment, showed enduring struggles. The company said it expects to return to growth in the next quarter, which will be longer than usual. © Provided by CNBC Chuck Robbins, chief executive officer of Cisco Technologies Inc., speaks during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2017. World leaders, influential executives, bankers and policy makers attend the 47th annual meeting of the World Economic Forum in Davos from Jan. 17 - 20. Cisco stock tumbled 6% in extended trading on Tuesday after the company posted fiscal second-quarter earnings that showed enduring struggles in its top...
    Chuck Robbins, chief executive officer of Cisco Technologies Inc., speaks during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2017. World leaders, influential executives, bankers and policy makers attend the 47th annual meeting of the World Economic Forum in Davos from Jan. 17 - 20.Jason Alden | Bloomberg | Getty Images Cisco stock fell 3% in extended trading on Monday after the company posted fiscal second-quarter earnings that showed enduring struggles in its top product segment. Still, the company's results and quarterly guidance exceeded analysts' estimates. Here's how the company did: Earnings: 79 cents per share, adjusted, vs. 76 cents per share as expected by analysts, according to Refinitiv. Revenue: $11.96 billion, vs. $11.92 billion as expected by analysts, according to Refinitiv. Overall, Cisco's revenue narrowed slightly on an annualized basis in the quarter, which ended on Jan....
    U.K. coronavirus variant spreading rapidly through U.S., study finds Amid calls for Moise’s ouster, Haiti announces arrest of 23 people in alleged coup attempt Macquarie’s Infrastructure Unit Bids A$3.4 Billion for Vocus (Bloomberg) -- Macquarie Group Ltd.’s infrastructure unit has bid about A$3.4 billion ($2.6 billion) for data services company Vocus Group Ltd., which has had several potential suitors walk away in recent years. © Bloomberg The Macquarie Group Ltd. logo is displayed at the company's headquarters in Sydney, Australia, on Friday, Oct. 30, 2009. The offer values Vocus shares at A$5.50 each, 26% more than Friday’s closing price, the Sydney-based data company said in a statement Monday. Macquarie has been granted access to Vocus’s books, to enable it to potentially put forward a binding offer, Vocus said. Load Error Vocus shares rose 19% to A$5.20 in early Sydney trading. Vocus has fielded several approaches in recent...
    West Virginia touts COVID-19 vaccination success story as national rollout sputters Fauci throws lots of shade at Trump in his first comments as a Biden adviser IBM Sales Decline Across All Units, Sending Shares Tumbling (Bloomberg) -- International Business Machines Corp. reported quarterly revenue that missed analysts’ estimates, signaling Chief Executive Officer Arvind Krishna’s turnaround plan will take more time to pan out. Load Error Sales fell 6.5% to $20.4 billion in the three months ended Dec. 31, the Armonk, New York-based company said Thursday in a statement. That was below the $20.75 billion analysts had forecast, on average, and marked the 10th consecutive quarter with no year-over-year increase in revenue. The shares fell in extended trading. Last October, Krishna announced he would spin off IBM’s managed infrastructure services unit into a separate publicly traded company. The division, which is currently part of IBM’s Global Technology Services division,...
    Fort Bragg soldier who went missing Memorial Day weekend was decapitated, investigators say US, China extend giant panda deal by three years Alphabet-backed Sidewalk Infrastructure Partners invests in start-up paying customers to cut energy use As rolling blackouts continue to plague California, one company is hoping that a new $100 million investment will help it keep the lights on — by paying customers to turn the lights off. On Monday, OhmConnect said it received $100 million from Alphabet-backed Sidewalk Infrastructure Partners to build the largest distributed clean power plant in North America. © Provided by CNBC As rolling blackouts continue to plague California, one company is hoping that a new $100 million investment will help it keep the lights on — by paying customers to turn the lights off. Load Error On Monday OhmConnect said it received $100 million from Alphabet-backed Sidewalk Infrastructure Partners to build...
    Jeff Smith, chief executive officer and chief investment officer of Starboard Value LP.Chris Goodney | Bloomberg | Getty Images Starboard Value hit an unexpected stumbling block in its activist campaign in AECOM when one of the hedge fund's members quit the infrastructure company's board of directors over the summer. Peter Feld quit the AECOM board in protest of CFO Troy Rudd's promotion to chief executive officer in June. That snag, however, has not dented Starboard's overall return on its AECOM investment. Since taking a stake in the company, AECOM shares are up more than 40%, easily outperforming the broader market in that time.Company: AECOM (ACM)Business: AECOM is a company that designs, builds, finances and operates infrastructure assets for governments, businesses and organizations. The company's design and consulting services segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as...
    SAN JOSE (CNN) — The tweet was when Eric Yuan knew something had to change. Boris Johnson, the UK prime minister, shared a photo from his first ever virtual cabinet meeting. The cybersecurity red flags jumped out immediately. Some cabinet secretaries’ Zoom screen names were visible, you could see which platform the cabinet was running its computers on, and most glaringly, the meeting ID was visible for all to see. The significance of the moment was not lost on the team at Zoom. “That was the big aha moment,” Zoom board member Santi Subotovsky told CNN Business. Zoom grew into a vastly profitable business selling software to businesses that could enable a venture capital firm to seamlessly take virtual pitch meetings from around the globe or an executive to deliver an all-hands to a remote workforce. Powering British Cabinet meetings was never on the radar. “Our company that used to...
    The Department of Justice sued payment processing giant Visa on Thursday to block the company’s purchase of financial technology startup Plaid, calling it a monopolistic takeover of a potential competitor to Visa’s ubiquitous payments network. The lawsuit, filed in the Northern District of California, seeks to stop Visa’s purchase of Plaid, which at $5.3 billion would have been the second-largest acquisition in the company’s history, second only to Visa’s buyout of Visa Europe a few years ago. Plaid provides the infrastructure to allow consumers and businesses to pay directly from their bank account. Services like Venmo, SoFi, Stripe and TransferWise all use Plaid as a way for consumers to send money from their bank accounts to another party without having to use the debit card infrastructure that’s largely controlled by Visa and its competitor Mastercard. Visa earns a small fee from every transaction that is run on its network....
    SAN FRANCISCO (CBS SF/AP) — The Department of Justice filed a lawsuit Thursday against credit card company Visa Inc. to block the company’s purchase of financial technology startup Plaid, calling it a monopolistic takeover of a potential competitor. The lawsuit, filed in the Northern District of California, seeks to halt the $5.3 billion deal, which would have been the second-largest acquisition in the company’s history, second only to Visa’s buyout of Visa Europe a few years ago. Plaid provides the infrastructure to allow consumers and businesses to pay directly from their bank account. Services like Venmo, SoFi, Stripe and TransferWise all use Plaid as a way for consumers to send money from their bank accounts to another party without having to use the debit card infrastructure that’s largely controlled by Visa and its competitor Mastercard. Visa earns a small fee from every transaction that is run on its...
    By KEN SWEET, AP Business Writer CHARLOTTE, N.C. (AP) — The Department of Justice sued payment processing giant Visa Inc. on Thursday to block the company's purchase of financial technology startup Plaid, calling it a monopolistic takeover of a potential competitor to Visa's ubiquitous payments network. The lawsuit, filed in the Northern District of California, seeks to stop Visa's purchase of Plaid, which at $5.3 billion would have been the second-largest acquisition in the company's history, second only to Visa's buyout of Visa Europe a few years ago. Plaid provides the infrastructure to allow consumers and businesses to pay directly from their bank account. Services like Venmo, SoFi, Stripe and TransferWise all use Plaid as a way for consumers to send money from their bank accounts to another party without having to use the debit card infrastructure that's largely controlled by Visa and its competitor Mastercard. Visa earns a small...
    CHARLOTTE, N.C. (AP) — The Department of Justice sued payment processing giant Visa Inc. on Thursday to block the company’s purchase of financial technology startup Plaid, calling it a monopolistic takeover of a potential competitor to Visa’s ubiquitous payments network. The lawsuit, filed in the Northern District of California, seeks to stop Visa’s purchase of Plaid, which at $5.3 billion would have been the second-largest acquisition in the company’s history, second only to Visa’s buyout of Visa Europe a few years ago. Plaid provides the infrastructure to allow consumers and businesses to pay directly from their bank account. Services like Venmo, SoFi, Stripe and TransferWise all use Plaid as a way for consumers to send money from their bank accounts to another party without having to use the debit card infrastructure that’s largely controlled by Visa and its competitor Mastercard. Visa earns a small fee from every transaction...
    Dublin, Nov. 03, 2020 (GLOBE NEWSWIRE) — The “Middle East – Mobile Infrastructure and Mobile Broadband” report has been added to ResearchAndMarkets.com’s offering. This report provides valuable information, analyses, statistics and insights into the mobile infrastructure in markets of the Middle East, including the countries of Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, Turkey, United Arab Emirates and Yemen. Mobile infrastructure in the Middle East has by far the highest population coverage compared to fixed broadband and the region is highly dependent on mobile services. In times of crisis, the ability to remain connected becomes even more essential to society and the economy in general. This reliance on telecommunications infrastructure and services has been highlighted throughout the world during the COVID-19 outbreak, including in the Middle East where many countries have required citizens to shelter-at-home. This has placed increased demand on telecoms infrastructure with...
    Coronavirus live updates: Trump breaks quarantine; 6 accused of plan to kidnap Michigan Gov. Gretchen Whitmer This New CDC Guideline May Majorly Impact Indoor Dining IBM to Spin Off Infrastructure Services Unit, Shares Rise (Bloomberg) -- International Business Machines Corp. is spinning off a slower-growth business that manages corporate computer systems so it can focus on the boom in demand for cloud services and step up competition with Amazon.com Inc. and Microsoft Corp. Load Error The new unit, which is currently part of IBM’s global technology services division, handles day-to-day infrastructure service operations, like managing client data centers and traditional information-technology support for installing, repairing and operating equipment. It serves 4,600 clients and has an order backlog of $60 billion, according to a statement from IBM Thursday. The shift essentially divides IBM into two, splitting its legacy IT-management services from its new hybrid-cloud computing and artificial intelligence unit,...
    VIDEO1:4201:42IBM to spin off one of its units into separate public companySquawk Box IBM said Thursday it would spin off its IT infrastructure unit into a new publicly traded company to focus its legacy business more on cloud computing, a high-margin segment that has seen a boost as companies increasingly ramp up their digital shift. Shares of the company were up more than 5%. The separation of the new company, temporarily called NewCo, will be completed by the end of 2021. IBM said it will manage and modernize client-owned infrastructures, which it says is a $500 billion market opportunity. J.P. Morgan and Lazard are serving as financial advisors for the transaction.  "We believe we can deliver strong growth within the company with the financial flexibility we will create with this transaction," CEO Arvind Krishna told CNBC's "Squawk on the Street."  IBM has trimmed its legacy businesses over the years to focus on cloud,...
    (Reuters) - International Business Machines Corp said on Thursday it would spin off the managed infrastructure services unit of its Global Technology Services division into a new public company. The company said it hopes to become more focused on cloud software and solutions through the separation. IBM shares were up more than 4% in premarket trading. The separation of the new company is expected to be achieved as a tax-free spin-off to IBM shareholders and completed by the end of 2021, IBM said. (Reporting by Munsif Vengattil in Bengaluru; Editing by Ramakrishnan M.) Copyright 2020 Thomson Reuters.
    Data-mining firm Palantir has filed its prospectus to take the company public, and its S-1 confirms leaked information that showed the company has not turned a profit since its founding in 2003. Palantir plans to debut with a direct listing rather than selling shares in an initial public offering. It’s among a handful of tech companies that have taken this route to go public in recent years; Slack did last year, Spotify did in 2018, and Asana did earlier this week. The company lost $580 million in 2019, the filing shows, and in the first half of 2020 it has lost $175 million. The S-1 shows the company had 125 customers in the first half of this year, “including some of the largest and most significant institutions in the world,” the filing states, and its software “is used by customers across 36 industries and in more than 150...
    Biden unveils economic plan to combat racial inequality McDonalds CEO says customers are more worried about the economy than public health, as the fast-food giant braces for the looming recession Cannabis SPAC Lined Up to Come Public Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA) made a notable move on Monday. The special purpose acquisition company (SPAC) announced that it will combine with Clever Leaves International to operate under the name Clever Leaves Holdings and trade under the ticker CLVR. Clever Leaves has demonstrated track record in the cannabis sector and has roughly 500 employees. The company has established significant infrastructure and positioned itself to achieve global reach between its Colombia cultivation and extraction operations, its Portuguese cultivation facilities and its global distribution infrastructure in the European Union, which is currently headquartered in Germany. © Provided by 24/7 Wall St. Apart from its distribution infrastructure, Clever Leaves’ branded...
    (Reuters) - Internet infrastructure firm Cloudflare said some of its customers are "experiencing issues" as several websites were hit by disruptions on Friday. The company said it was "currently investigating." Calls and messages to the company were not immediately returned after business hours on Friday. (Reporting by Raphael Satter; Editing by Chris Reese) Copyright 2020 Thomson Reuters.
    Back in January, the UK said that “high risk” vendors including Huawei would be allowed to build the country’s 5G network, provided they weren’t “core” parts of it. Clearly, the government has changed its mind. “5G will be transformative for our country, but only if we have confidence in the security and resilience of the infrastructure it is built upon,” Dowden added. Today’s announcement covers 5G infrastructure, specifically. The UK has used Huawei’s telecommunications equipment for some time, though, in both its mobile and fibre broadband networks. BT, which owns mobile network operator EE, confirmed in December 2018 that it had already started removing Huawei equipment from its 4G network. It’s not clear how much remains at this time and whether the government has any plans to completely outlaw the company’s gear in 3G and 4G-related infrastructure. The UK government has hinted, however, that it would like to slowly phase...
    LONDON (AP) – The CEO of telecoms company BT has warned it may take a decade to remove Huawei equipment from Britain´s wireless infrastructure if the U.K. government follows the U.S. in dumping the telecom provider from its networks. Philip Jansen told the BBC that the Chinese tech giant has been in the telecoms infrastructure for two decades and has been a big supplier to the industry. That legacy will complicate things for British officials, who are reportedly reconsidering their decision to give Huawei a limited role supplying new high-speed network equipment to wireless carriers. “It is all about timing and balance,´´ Jansen told the BBC. “So if you want to have no Huawei in the whole of the telecoms infrastructure across the whole of the U.K., I think that´s impossible to do in under 10 years.” Dumping Huawei from the 5G network could take as long as five to...
    By DANICA KIRKA, Associated Press LONDON (AP) — The CEO of telecoms company BT has warned it may take a decade to remove Huawei equipment from Britain’s wireless infrastructure if the U.K. government follows the U.S. in dumping the telecom provider from its networks. Philip Jansen told the BBC that the Chinese tech giant has been in the telecoms infrastructure for two decades and has been a big supplier to the industry. That legacy will complicate things for British officials, who are reportedly reconsidering their decision to give Huawei a limited role supplying new high-speed network equipment to wireless carriers. “It is all about timing and balance,’’ Jansen told the BBC. “So if you want to have no Huawei in the whole of the telecoms infrastructure across the whole of the U.K., I think that’s impossible to do in under 10 years.” Dumping Huawei from the 5G network could take...
    LONDON (AP) — The CEO of telecoms company BT has warned it may take a decade to remove Huawei equipment from Britain’s wireless infrastructure if the U.K. government follows the U.S. in dumping the telecom provider from its networks. Philip Jansen told the BBC that the Chinese tech giant has been in the telecoms infrastructure for two decades and has been a big supplier to the industry. That legacy will complicate things for British officials, who are reportedly reconsidering their decision to give Huawei a limited role supplying new high-speed network equipment to wireless carriers. “It is all about timing and balance,’’ Jansen told the BBC. “So if you want to have no Huawei in the whole of the telecoms infrastructure across the whole of the U.K., I think that’s impossible to do in under 10 years.” Dumping Huawei from the 5G network could take as long as five to...
    Motor racing: Vettel recognises he could walk away from Formula One for good These Cuticle Oils Are the Secret to a Longer Last Manicure 7 Stocks That Could Surge With a US Infrastructure Program The U.S. House of Representatives on Wednesday passed the Moving Forward Act, the $1.5 trillion infrastructure bill intended to repair or replace much of the country's crumbling roads, bridges, schools and communications infrastructure. The bill now moves on to the Senate where it is expected to die quietly. Officially known as H.R. 2, the bill got its start as a once-in-five-years update to federal transportation spending. Known as the highway bill, the spending part of the bill has more than doubled and its page count has ballooned to roughly 2,300. © Provided by 24/7 Wall St. The president has endorsed an even larger $2 trillion infrastructure spending plan, but details are scarce. Load...
    TEL AVIV (Reuters) - U.S.-Israeli startup Curv, which provides security infrastructure for digital assets, said on Wednesday it raised $23 million in an early-stage funding round. It received investments from CommerzVentures, Coinbase Ventures, Digital Currency Group, Team8 and Digital Garage Lab Fund. The investment will be used to fund the company's international growth, for new solutions, product innovations, and hiring of new employees. The company said it has dozens of customers, including investment firm Franklin Templeton, which use Curv’s infrastructure to expand into the digital asset market. Founded in 2018, Curv is headquartered in New York with research and development offices in Tel-Aviv.   (Reporting by Tova Cohen; Editing by Steven Scheer) Copyright 2020 Thomson Reuters.
    WARSAW (Reuters) - Polish mobile operator Play Communications is considering selling some of its network infrastructure, a source familiar with the process told Reuters. The company could follow similar moves by other European companies looking to sell mobile networks as infrastructure remains attractive to investors. Bloomberg reported on Friday, quoting unnamed sources, that Play is working on a strategic review of roughly 8,000 sites, around half of which are towers, which could lead to a sale valued at up to 800 million euros ($897.4 million). Play could start a formal process in early 2021, Bloomberg said. Earlier this year, Play said it was planning to set up a company called TowerCo - a dedicated subsidiary to host existing and future passive network infrastructure. "Play is at a very early stage of establishing the company, to which sites would be moved... It will take at least until the end of the...
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