BizTechNews

Oracle builds its cloud fortress with $9.3B NetSuite deal

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Oracle is trying to add some rocket fuel in the high-stakes race to dominate cloud services — and it’s doing so with a very familiar partner. The software giant will pay $9.3 billion in cash to acquire NetSuite (N), a cloud computing company co-founded by Oracle executive chairmanLarry Ellison, its largest shareholder. Oracle (ORCL) will pay $109 in cash per NetSuite share in ...

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CBS’ Q2 earnings rise on higher licensing, distribution revenues

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CBS Corp., which owns the No. 1 primetime broadcast network, said Thursday second quarter net income soared 27% as higher content licensing fees and distribution revenues from entertainment programming compensated for its sluggish cable network and publishing businesses. Earnings per share, on an adjusted basis, totaled 93 cents, handily beating 86 cents estimated by analysts who were polled by S&P Global Capital Intelligence. Net income ...

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Voices: Nothing dull about these conventions

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Back in 1996, then-Nightline host Ted Koppelshocked the media and political worlds. Two days into the Republican National Convention in San Diego, Koppel announced that he and most of his team were pulling out. The reason? There was no news to be found there. ”This convention is more of an infomercial than a news event,” Koppel said. ”Nothing surprising has happened; ...

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Freddie Gray Didn’t Kill Himself, but Cop Obstruction Made It Hard to Prove: Prosecutor

Baltimore State's Attorney Marilyn Mosby holds a news conference on Wednesday, July 27, 2016, at Mount and Presbury Streets, the corner where Freddie Gray was taken into police custody, after dropping the charges against the three remaining officers to be tried in his death. At left is Gray's stepfather, Richard Shipley. (Amy Davis/Baltimore Sun/TNS via Getty Images)

But while Baltimore City State’s Attorney Marilyn Mosby bemoans a lack of police cooperation, other experts say the prosecution was jammed up by an official finding that Gray was injured during transport in the police van, as opposed to potentially by officers during his actual arrest. In a controversial move, Baltimore City State’s Attorney Marilyn J. Mosby dropped charges against Police Officer Garrett Miller, ...

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In his DNC speech, President Obama kept it 100

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In his primetime speech at the Democratic National Convention Wednesday night, President Obama was the standard bearer of hope his supporters voted for eight years ago, and the optimistic bridge builder that was introduced to the national stage four years before that. In an election year marked by divisions, hate and racial strife, the commander-in-chief stayed positive.  And he provided ...

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After 3 months with no winner, Powerball pot hits $422M

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Time for some lottery dreaming again: The prize in Wednesday night’s Powerball drawing has climbed to $422 million, thanks to three months without a winner. If anyone matches the five balls and red Powerball, it will be the game’s first namesake prize winner since May 7 when eight New Jersey family members claimed a jackpot worth $429.6 million. The winning ticket was ...

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Facebook crushes earnings — again

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SAN FRANCISCO — Facebook reaffirmed its status as one of technology’s biggest success stories on Wednesday, sending its stock to a record high after delivering the fastest rate of revenue growth in two years, a whopping 59%. The social-media giant has topped Wall Street estimates all but once since its May 2012 initial public offering. The secret to its nearly unblemished earnings ...

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Heat is on, but the power grid is holding

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The retirement of coal and nuclear power plants in the U.S. over the last few years has raised concerns that the electric power industry might fail to deliver when demand for power heightens — such as during a blistering heat wave. But for the most part, that’s not the case this week as a so-called “heat dome” leaves the eastern ...

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Apple bulls should hope a car is a ways off

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Investors betting that an Apple car will be a future revenue growth driver for the company may also want to start hoping one doesn’t get here too quickly. Apple’s plunging profit margins don’t need further downward pressure, and entering the car market won’t help them. Even as Apple sales for the June quarter slightly beat Wall Street estimates, sending its ...

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Rieder: Philly assailed over convention logistics

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PHILADELPHIA — Be careful what you wish for. As part of its drive toward world city status, Philadelphia campaigned hard to win the nod to host the 2016 Democratic National Committee. The victory, along with Pope Francis’ visit to the city last year and lots of positive buzz about its emerging coolness, helped cement its growing reputation as a city on ...

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