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Search resuls for: ". Oracle"


8 mentions found


☆ Oracle is steering clear of talent from major tech hubs in the cloud giant's latest more to save money and curb labor costs
  + stars: | 2022-10-25 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +5 min
It's part of the cloud giant's plan to curb labor costs that insiders say is starting to hurt morale. Oracle is steering clear of job-seekers in major tech hubs. These guidelines come amid other hiring restrictions implemented at the cloud giant, which employees say are further tanking already low morale. In some cases, hiring managers are being asked to backfill formerly US-based roles with candidates from Eastern Europe to save money. Oracle is trying to cut $1 billion in costs and has already had two rounds of layoffs in recent months.
☆ A Facebook contractor describes what it's like working on the company's customer service front lines
  + stars: | 2022-10-20 | by ( Jordan Parker Erb | ) www.businessinsider.com   time to read: +4 min
In a conversation with Insider, a Meta customer service agent working for third-party firm described what it's like to work with customers, from torrents of abuse to insomnia from the stress. Each day, she fields around 20 cases a day from organizations, businesses, celebrities, and creators who depend on Facebook and Instagram for their livelihoods. More than 200 Gopuff customer service workers were let go last week. On a podcast, Glenn Howerton said he was locked out of his Tesla when his key fob broke, and that he had a difficult time reaching customer service, saying that Tesla "lost a customer." Acquired a decade ago for $22 billion, WhatsApp has yet to become a big business for Facebook.
☆ How Oracle won the carmaker Subaru as a cloud customer by being cheaper than the competition
  + stars: | 2022-09-29 | by ( Belle Lin | ) www.businessinsider.com   time to read: +4 min
The Japanese carmaker Subaru is using Oracle's cloud for its high-performance computing. Discounting is also a common tactic to win over those marquee customers — especially as the use of multiple cloud providers has become more common. Subaru completed the move from its data centers to Oracle's cloud in about six months, anticipating a 30% reduction in its technology costs after moving to the cloud, Takekuma said. Subaru is also using other cloud providers in other parts of the company, including Google Cloud for some of its machine learning and artificial-intelligence capabilities. "So it's absolutely critical that our data transfer, our authentication, all of those pieces, are able to smoothly interface with the other cloud providers'."
☆ SEC fines Oracle $23 million, says the company bribed foreign officials for business
  + stars: | 2022-09-27 | by ( Ashley Capoot | ) www.cnbc.com   time to read: +1 min
Oracle has settled with the Securities and Exchange Commission after it was charged with violating the Foreign Corrupt Practices Act for a second time, the SEC announced Tuesday. The SEC said Oracle violated provisions of the act between 2016 and 2019 when its subsidiaries in India, Turkey and the United Arab Emirates created slush funds used to bribe foreign officials. Oracle's subsidiaries also used the funds to pay foreign officials to attend technology conferences, according to the SEC. The company did not admit to or deny the SEC's findings, and it will pay more than $23 million to settle the charges. The company also settled charges in 2012 after Oracle India created millions of dollars of side funds, the SEC said.
☆ Loans Are Cheaper Than Bonds for Some Highly Rated Companies
  + stars: | 2022-09-21 | by ( Nina Trentmann | ) www.wsj.com   time to read: +7 min
Some highly rated companies are turning to term loans instead of bonds for their financing needs, taking advantage of cheaper pricing as banks have been slower to adjust to rising interest rates than the credit markets. Highly rated companies raised $998.8 billion in bonds in the U.S. this year through Monday, compared with $177.9 billion in term loans, according to Refinitiv, a data provider. For all of last year, fundraising through bonds amounted to $1.46 trillion versus $236.7 billion for term loans for investment-grade-rated companies. Term loans often have a shorter duration than bonds, with many of them ranging from three to five years. Term loans tend to be secured,” Mr. Holtz said, pointing to the mixture of bonds and term loans that make up the company’s capital structure.
☆ Salesforce, Oracle, Palantir and other tech companies are interested in building a new Army tool to manage weapons distribution and troop deployment
  + stars: | 2022-09-20 | by ( Caroline Haskins | ) www.businessinsider.com   time to read: +7 min
The US Army is looking for tech companies to build a prototype for its new "operational back-bone." Palantir, Gitlab, Salesforce, Oracle, RedHat, IBM, and others submitted "Requests for Information" to build the prototype, a step before submitting a bid. The prototype would manage the deployment of troops, and the supply and distribution of missiles, guns, tanks, and other weapons. Palantir has an $823 million Army contract for data mining and analytics. It's also unclear if Amazon, Google, or Microsoft will contribute to the project in some capacity, including as a subcontractor.
☆ We just got our best sign yet that Oracle's core business is getting stronger even without spending big cash on acquisitions like Cerner
  + stars: | 2022-09-13 | by ( Belle Lin | ) www.businessinsider.com   time to read: +5 min
The database giant's overall revenue grew 18% in the quarter from the same period last year, and its cloud revenue grew 45% to $3.6 billion. That's including the contributions of Cerner, the medical-records company Oracle bought for $28 billion in a big bet on the healthcare market. But it still lags far behind Amazon, Microsoft, and Google in cloud market share, which means it can't afford to stop investing in its cloud platform. The capability allows Amazon Web Services customers to use Oracle's database without leaving AWS. Sources said Oracle's cloud group was virtually unaffected by the cuts.
☆ What Cramer is watching Tuesday — hot inflation slams stocks, recent Apple rally fizzles
  + stars: | 2022-09-13 | by ( Jim Cramer | ) www.cnbc.com   time to read: +4 min
BMO goes to market perform from outperform (hold from buy) but raises its price target $435 per share from $420. Wells Fargo raises price target on Clorox (CLX) to $130 per share from $120; but keeps an underweight (sell) rating. Wells Fargo cuts price target on Dow Inc. (DOW) to $60 per share from $70, saying polyethylene pricing is coming down. JPMorgan calls Robinhood (HOOD) August numbers "uninspiring," keeps underweight (sell) rating and a $7-per-share price target. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
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