Oracle’s share price fell the most in more than 24 years after the company reported a jump in spending on artificial intelligence data centers and other equipment, raising spending that is taking longer than expected to turn into revenue from cloud activities that investors want. Capital spending — an indicator of spending on data centers — totaled nearly $12 billion in the quarter, compared with $8.5 billion in the year-ago period, the company said in a statement Wednesday. That compares with analysts’ expectations for capital spending of $8.25 billion in the quarter, according to data compiled by Bloomberg. Also Read: Oracle Shares Fall As Its Artificial Intelligence Spending Rises Cloud computing sales in the second fiscal quarter rose 34% to $7.98 billion, while revenue from the infrastructure business — which is closely watched by Wall Street — rose 68% to $4.08 billion. Both figures were slightly below analysts’ expectations. Oracle’s share price falls by 16%. The share price fell as much as 16% after opening trading in New York on Thursday, in the biggest drop during the session since March 2001, wiping about $102 billion from the company’s market value. Oracle stock had already lost about a third of its value by Wednesday’s close since its September 10 peak. At the same time, Oracle’s credit risk measure hit a new high, the highest in 16 years. Also read: Oracle’s market value surpasses JP Morgan thanks to cloud services. Oracle is known for its database software, but it has recently found success in the competitive cloud computing market. The company is working to implement a major expansion in data centers to run artificial intelligence work for OpenAI, and its list of clients includes companies such as TikTok, a subsidiary of ByteDance, and Meta Platforms. Remaining performance obligations, an indicator of bookings, jumped more than five times to $523 billion in the quarter ended Nov. 30. Analysts on average estimated a level of $519 billion. Doubts about the cost of developing an AI infrastructure However, Wall Street has raised doubts about the cost and time needed to develop an AI infrastructure on such a large scale. Oracle has borrowed significant sums and committed to lease several data center sites. The cost of protecting a company’s five-year debt from default rose 0.17 percentage points to about 1.41 percentage points annually, the highest intraday level since April 2009, according to ICE Data Services data. This index rises as investors’ confidence in the company’s creditworthiness declines. Oracle credit derivatives have become the credit market’s benchmark for AI risk. Also Read: Larry Ellison Loses Top Spot in World’s Richest People Due to Oracle’s Decline. Jacob Bourne, an analyst at Emarketer, said: “Oracle is facing increasing scrutiny over debt-financed data center expansion and concentration risks amid questions about the uncertain results of spending on artificial intelligence.” He added: “This decline in revenue is likely to exacerbate concerns among investors who are already wary of the Open AI deal and its heavy spending on artificial intelligence.” Investors want to see Oracle turn its increased infrastructure spending into revenue as quickly as it has promised. Investment spending rises by $15 billion. Oracle now expects its capital spending to reach about $50 billion in the fiscal year ending in May 2026, an increase of $15 billion from its forecast in September, executives said on a conference call after announcing the results. “The vast majority of our capital investments are for generation equipment,” Chief Financial Officer Doug Kering said on the call. The revenue will be used in our data centers, and is not for land, buildings or energy collectively covered by leases. Oracle will not pay for these contracts until the completed data centers and associated facilities are delivered to us.” Annual revenue is expected to reach $67 billion, confirming the forecast the company made in October. Kering added: “As part of our core principles, we expect and are committed to maintaining our investment grade credit rating.” Also read: “Oracle” first mocked cloud services … and then the shift happened. Oracle’s cash burn rate increased during the quarter, and its free cash flow hit negative $10 billion, and the company’s total debt is about $106 billion, according to data compiled by Bloomberg. Mark Murphy, an analyst at JP Morgan, wrote: “Investors seem to continually expect additional capital expenditures to increase earnings at a faster pace than the current reality.” Clay McGuirk, one of Oracle’s CEOs, said in a statement: “Oracle is distinguished by its superior ability to build and operate high-performance, cost-effective cloud data centers.” By automating our data centers more, we can build and operate more of them.” This is Oracle’s first earnings report since McGuirk and Mike Cicilia succeeded former CEO Safra Catz, where they share the CEO position. Google’s competition for OpenAI AI, which faces increasing competition from companies such as Alphabet Inc’s Google. He added that investors want Oracle’s management to explain how it can adjust spending plans if demand for OpenAI changes. During the quarter, total revenue rose 14% to $16.1 billion. The performance of the company’s cloud software applications business also rose 11% to $3.9 billion. This is the first quarter in which sales from Oracle’s cloud infrastructure unit exceeded sales from its applications business. Also read: “Walt Disney invests one billion dollars in “OpenAI” and the profits, excluding some items, amounted to $2.26 per share. The company explained that the sale of “Oracle’s” stake in the “Ampere Computing” chip manufacturing company contributed to this profit, as it achieved pre-tax profits during the $2 billion, which amounted to a $7 billion support. startup was acquired by the Japanese “Softbank” group in a deal that closed last month.In the current period, which ends in February, total revenue is expected to rise between 19% and 22%, while cloud computing sales will rise between 40% and 44%, Kering said on the call, and the forecast was in line with analysts’ estimates.

New Delhi: A parliamentary panel has advised the petroleum ministry to work closely with the Ministry of External Affairs (MEA) and other relevant government agencies to deepen diplomatic engagement with oil-producing countries and ensure favorable investment conditions, and mitigate tax as well as regulatory hurdles. The Parliamentary Committee on Public Enterprises noted that while proactive steps have been taken by state-owned companies such as Indian Oil Corp Ltd (IOCL) and ONGC Videsh Ltd (OVL) to diversify crude oil resources and manage geopolitical risks, challenges persist due to sanctions, financial market volatility and regulatory changes in host countries where project countries are located. “These issues not only affect India’s energy import bill, but also hamper the ability of CPSUs to secure overseas exploration and production assets, thereby limiting long-term energy security. The committee recommends that the Ministry of Petroleum and Natural Gas (MoPNG) work closely with the Ministry of External Affairs (MEA) and other relevant government agencies to secure diplomatic investments and to favor investments and oil producing investments. and regulatory obstacles faced by CPSUs abroad,” the panel said in its report released on Thursday. It also suggested that state-owned oil companies should also adopt digital and enterprise risk management frameworks to continuously assess geopolitical vulnerabilities to ensure a more resilient and sustainable energy strategy for the country. The recommendations come at a time when several overseas assets of Indian state-owned oil and gas companies have been affected by geopolitical disruptions, sanctions and local issues around the world. India’s state-owned companies have tried to solve the problems and ensure smooth operations. For example, OVL expressed concern about not receiving equity oil for its 20% stake in Russian oil company Rosneft’s Sakhalin-1 project. Mint had earlier reported that the Russian Federation and Rosneft stuck to their stand on paying dividends in lieu of OVLs’ stake in the Sakhalin-1 oil and gas field, even if India wants equity oil as agreed earlier. During the recent visit of Russian President Vladimir Putin to India, both nations agreed to resolve the challenges faced by their investors in the oil and gas sector. Similarly, the $20 billion Mozambique LNG project, in which an OVL-led consortium has been under force majeure since 2021, has only recently been revived. OVL announced last month that the force majeure had been lifted, and construction would resume soon. Similarly, OVL’s investments in Venezuela have been limited by US sanctions against the South American nation. In another report, the committee said that the state-owned Indian Rare Earths Ltd (IREL) informed it that while India has the capacity to mine and exploit rare earths and convert them into oxides, the country’s ability to make them usable for the industry in the form of magnets is “non-existent”. “To address the issue of lack of industries in the intermediate value chain, IREL has established a Rare Earth & Titanium theme park at Bhopal. At this facility, rare earth metals were produced for the first time in the country,” IREL said in its response to the committee, adding that more facilities would be set up to recover end-of-life magnetic rare earths. The development is significant as India has been trying to become self-sufficient in rare earth mining in a bid to reduce the supply chain that is heavily dependent on China.

Bajaj Finserv’s Gold Loan Carnival offers a special chance for you to convert your gold jewelery into instant funds while also standing a chance to win exciting rewards. The carnival rewards from November 25, 2025 to February 28, 2026 cost select customers who take a gold loan of Rs. 1,00,000 or more. Prizes include foreign travel vouchers, 42-inch LED TVs, microwaves and small appliances. However, the reward is not applicable if the loan is repaid within 180 days. With so much up for grabs, it’s natural to wonder how the interest rate on a gold loan will fare during the Carnival period and what that means for anyone looking for an instant gold loan. Here is a simple breakdown to help you understand it better. What the Gold Loan Carnival offers The Gold Loan Carnival is a limited period rewards campaign. It does not change the published interest rate against gold loans, but it adds real value through pricing. Here’s what you need to know before applying for an instant gold loan during this offer window. Offer Period: November 25, 2025 to February 28, 2026 Eligibility: Customers availing a gold loan of Rs. 1,00,000 or more from Bajaj Finance are eligible. Only one reward per customer during the entire offer period. The reward does not apply if you repay the loan within 180 days from disbursement. Rewards available: Reward category Maximum winners Brief description Travel voucher for foreign travel 10 First reward category 42″ LED TV 34 Second reward category Microwave 272 Third reward category Small electrical appliance 10,188 Fourth reward category Does the rate change during Carnival? The Carnival is a reward campaign, not based on a golden promotional loan interest rate offer. loan-to-value ratio, customer profile, and regulatory norms determine your actual rate This includes the purity and weight of your gold, the loan amount you request, and the Reserve Bank of India guidelines on loan-to-value caps offer added value through rewards rather than discount rates will help you plan better and avoid surprises. Your final interest rate on a gold loan depends on various inputs of your gold: Bajaj Finance accepts 18 to 22 carat jewellery closing price Loan-to-value (LTV) ratio: RBI sets limits on how much you can borrow against your gold amount, subject to a minimum of Rs. 99 and a maximum of Rs. half-yearly or annual installments Longer terms and less frequent payments can increase the effective interest cost over time Meet even the most urgent need for funds How to maximize value when you apply during Carnival Follow these steps to apply for a gold loan during the Carnival and improve your chances of winning a reward Be pre-eligible and use the gold loan calculator on the Bajaj Finserv website to make informed loan decisions locator tool on the official website To qualify for Carnival rewards, your loan amount must be 1 lakh or more, however, avoid borrowing more than you need, keep the loan for at least 180 days from the disbursement of the loan rate Carnival rewards make it a good time to apply If you need quick funds, apply now via the Bajaj Finserv app or visit a branch near you apply during the Carnival How to maximize value when you apply during the Carnival Mint: Note to readers: This article is part of Mint’s paid consumer connection initiative assumes no editorial involvement or responsibility for errors, omissions or content accuracy.

Prime Minister Narendra Modi will embark on a three-nation visit to Jordan, Ethiopia and Oman next week to strengthen ties with the three countries. PM Modi will visit Jordan from December 15 to 16 at the invitation of King Abdullah II bin Al Hussein. What’s on the agenda? During the visit, the Prime Minister will meet the Jordanian King to review the entire range of bilateral relations and exchange perspectives on regional issues. This visit, marking the 75th anniversary of the establishment of diplomatic relations between the two countries, provides an opportunity to strengthen India-Jordan bilateral engagement, explore new avenues of cooperation for mutual growth and prosperity and reiterate the commitment to promoting regional peace, prosperity, security and stability, a PMO release said. PM Modi’s visit to Ethiopia PM Modi will visit Ethiopia in the second leg of his visit from December 16-17. This will be his first visit to the African country. He will hold wide-ranging discussions with Prime Minister Abiy Ahmed Ali on all aspects of India-Ethiopia bilateral ties. “As partners in the Global South, the visit will be a reiteration of the shared commitment of the two nations to foster close ties of friendship and bilateral cooperation,” the release said. PM Modi’s visit to Oman In the last part of his visit, PM Modi will visit Oman from December 17 to 18. This will be PM Modi’s second visit to Oman. India and Oman share a comprehensive strategic partnership underpinned by age-old ties of friendship, trade ties and strong people-to-people ties. The visit will commemorate 70 years of the establishment of diplomatic relations between the two countries, and follows the state visit of the Sultan of Oman to India in December 2023. This visit will be an opportunity for both sides to comprehensively review the bilateral partnership, including in the areas of trade, investment, energy, defense, security, technology, agricultural issues of views and culture and global exchange of views and culture as well as local interests.

Gurugram, December 11, 2025: Policybazaar, one of India’s largest insurance platforms, has launched Claim Kavach, a comprehensive support program aimed at transforming how customers experience auto insurance claims. The service is designed to remove confusion, reduce waiting time and make the policyholder’s journey smoother by providing step-by-step guidance throughout the claims process. The pioneering initiative provides each customer with a dedicated claims manager who owns the journey from the moment a claim is raised. In a time of stress, the service allows clients to focus on what matters to them, while the claims manager handles filing, documentation support, regular updates and full coordination. Serving the customer, a 24×7 helpline provides 24×7 access to trained specialists who can help during emergencies or address urgent questions. In situations where claims face delays or rejection, Policybazaar’s escalation team steps in to put the customer’s case before the insurer. Working closely with insurers, the team helps resolve frictions and, where a claim is valid, makes every effort to expedite the process. This includes written submissions, ensuring fair and timely attention, and providing expert guidance on common pain points such as disagreements over error or clarity on specific paperwork requirements. Paras Pasricha, Head of Auto Insurance at Policybazaar, said: “Claim Kavach empowers a part of the customer journey that matters most. When a vehicle is damaged, the last thing anyone wants is uncertainty or a complicated process. With this program, our focus is on clarity, responsiveness and seamless support. This is an important step towards delivering a simple, helpful and useful experience.” As part of the customer-centric initiative, Policybazaar’s trained agents manage the entire process digitally on behalf of customers, from submissions to documentation, to ensure a smooth experience without the need for physical visits. During the moment of truth, Policybazaar also coordinates seamlessly with garages and surveyors, enabling inspections and cashless repairs to proceed effortlessly and with minimal effort from the customer. Claim Kavach is available to all car insurance customers of Polisbazaar. About Policybazaar As one of India’s largest insurance brokers, Policybazaar is committed to making insurance accessible, transparent and personalized for every Indian and global customer. Since 2008, Policybazaar has empowered over 80.5 million registered users, issued 49.3 million policies and helped protect 9 million families against death, illness and disability. With a dominant market share of over 93% in India’s digital insurance aggregator space and over ₹15,000 crore in annual premium collection (FY24), Policybazaar works with 50+ insurance partners offering products across health, life, auto and corporate insurance. The company supports customers with 24/7 digital assistance and an on-ground team of 6,000+ insurance advisors, ensuring a seamless experience across all touchpoints. Mint (normal article): Note to readers: This article is part of Mint’s paid consumer connection initiative. Munt assumes no editorial involvement or responsibility for errors, omissions or content accuracy. Want to display your story as above? click here!

New Delhi [India] December 11 (ANI): Stakeholders from the Global South discussed the future of Artificial Intelligence, its societal impact and the collaborative opportunities emerging across continents. At the Carnegie Global Technology Summit Innovation Dialogue 2025, voices from Africa and India highlighted shared challenges, unique advantages and the urgent need to build inclusive, scalable AI ecosystems. Shikoh Gitau, CEO of Qhala, highlighted the growing momentum around South-South cooperation and pointed out that the Global South, home to 80% of the world’s population, has untapped collective influence. “We have a bargaining chip from our data sets, from our population, from our rare minerals. We have a lot to offer this AI economy,” Gitau said. She highlighted parallels in the challenges facing countries in Africa and Asia, and expressed optimism that shared lessons could accelerate progress for both regions. Gitau called India a “big brother” in AI talent and cited findings from talentindex.ai, which show that Indian expertise is driving innovation hubs from Silicon Valley to Europe. She noted that Africa also offers critical experience in learning and digitization, from early ID system digitization to legal infrastructure reforms, which can contribute significantly to global AI development. Shelly Sethi, founder of Mahila Prashikshan Sansthan, emphasized the importance of expanding AI literacy for women and the youth, stressing that India’s next phase of progress depends on democratizing access to new technologies. She highlighted government schemes aimed at equipping young people, especially women, with the skills needed to participate in the AI-powered economy. “Testing, understanding and learning the new technology is essential,” she said, calling for broader implementation of AI tools for grassroots empowerment. SimPPL co-founder Dvara Mungra described how AI can close information gaps that contribute to high maternal mortality rates in India. Delays in accessing accurate medical information remain a major risk factor for expectant mothers. “SimPPL addresses this through Sakhi, an AI-enabled tool that delivers medically verified information vetted by gynecologists in local languages ​​over WhatsApp. The evolving role of AI in maternal health reduces the delay in seeking the right information,” said Mungra. She also highlighted broader AI use cases in healthcare, including disease detection and improving access to government health information. Still, she cautioned that India still has “a long way to go” in R&D, especially in developing foundational models tailored to India’s linguistic and cultural diversity. Shalini Kapoor, chief strategist at EkStep Foundation, described India as a unique proving ground for large-scale AI deployment. Quoting Nandan Nilekani, she said India could become “the test bed for AI adoption”, where systems validated at scale could be replicated globally. “Real impact depends on building concrete use cases in sectors such as agriculture, education and healthcare, supported by key horizontal enablers such as language technology, security frameworks and AI-ready data infrastructure,” she said. She also highlighted India’s efforts to democratize AI development — such as the IndiaAI Mission’s efforts to make GPUs accessible to startups — and praised initiatives like AI4Bharat’s open models for 22 Indian languages, drawn from cultural and linguistic heritage. “AI is for everyone. No one should be left behind,” Kapoor affirmed, adding that India’s approach could become a model for the entire Global South. Carnegie India hosted the Global Technology Summit Innovation Dialogue in New Delhi on December 11 as an official pre-summit event for the upcoming AI Impact Summit 2026, scheduled to be held from February 15 to 20, 2026 in New Delhi. (ANI)

The United States Labor Department data, released on December 11, showed that the number of people applying for unemployment insurance benefits rose to 236,000 for the week ended December 6, amid rising unemployment in the country and a cooling labor market. The Labor Department data highlighted how weekly unemployment insurance claims rose by 44,000 to 236,000, compared to their earlier level of 192,000 in the week ending November 29. According to a recent AP report, applications for unemployment insurance benefits rose more than the analyst-expected levels of 213,000 for the same period. Are more Americans collecting their unemployment benefits? The data released Thursday highlighted that the number of people collecting their unemployment insurance claims on a weekly basis fell for the week ending November 29. Insured unemployment figures fell by 99,000 to 18,38,000 (18.38 lakh) for the period, compared to 19,37,000 (19.37 lakh) in the previous week ended 22 November. According to the news agency’s report, the insured unemployment rates in the US fell to their lowest levels for continued claims since mid-April, earlier this year. People applying for unemployment insurance in America show a real snapshot of the cooling job market and the rising layoffs. Unemployment insurance is a form of temporary assistance given to workers who have lost their jobs for some reason other than their own. The funding for this comes from the employer companies via their payroll taxes. US Unemployment Rates According to the US Bureau of Labor Statistics, the unemployment rate in the US economy jumped to 4.4% for the month of September 2025. However, the country also added 119,000 jobs despite the federal government shutdown during that time. “Total nonfarm payroll employment rose by 119,000 in September, but showed little change from April, the U.S. Bureau of Labor Statistics reported today. The unemployment rate, at 4.4%, was little changed in September,” the Labor Bureau said in its November 20 delayed release. The unemployment data for October and November was also delayed due to the 43-day government shutdown, and the Labor Bureau is scheduled to release the same next week on Tuesday, December 16. The government agency also highlighted that jobs in health care, food services and drinking establishments, along with social assistance, saw an upward trend from the release of September data. However, the economy also recorded job losses in sectors such as transport-warehousing and the federal government. US Fed on labor market The US Federal Reserve’s FOMC decided on December 10 to cut key interest rates for the third consecutive time this year by 25 basis points to the range of 3.50%-3.75% amid increased inflation levels and a cooling labor market. Fed Chairman Jerome Powell said during his media address that the central bank’s decision to lower interest rates is expected to stabilize the labor market amid rising unemployment rates in America. “With today’s decision, we have lowered our policy rate by three-quarters of a percentage point over our last three meetings. This further normalization of our policy stance should help stabilize the labor market while allowing inflation to resume its downward trend toward 2% once the effects of rates have worn off,” Powell said in his speech on Wednesday.

Jakarta – The Psychology Team of the Polda Metro Jaya HR Bureau together with the HIMPSI Jakarta Clinical Psychology Association (IPK) stepped in to provide assistance to students at SDN 01 Kalibaru, North Jakarta who were victims of a car accident. The assistance is in the form of Psychological First Aid (PFA). In a statement received by detikcom on Thursday (11/12), psychology officers helped students manage their initial reactions after the incident, provide a sense of security and alleviate panic that arose as a result of this incident. Through PFA, children and parents receive psychological reinforcement, as well as assistance to calm themselves after experiencing a traumatic situation. A total of 10 psychologists and counselors from Polda Metro Jaya were deployed, supported by 5 IPK HIMPSI Jakarta psychologists. They provide services in the form of emotional support, assistance to victims’ families, and initial observations of students deemed to need further treatment. Scroll TO CONTINUE CONTENT All assistance is carried out with a child-friendly approach and a calming atmosphere. Meanwhile, Adi Putra Yadnya, head of psychology at the HR bureau of Polda Metro Jaya, said that his party will continue to monitor the students’ condition and is ready to provide further assistance. “We will continue to coordinate with the school if necessary. We ensure optimal psychological support so that students and families can go through the recovery period more calmly,” he said. Polda Metro Jaya emphasized its commitment to provide psychosocial services for the community, especially for children as a vulnerable group at risk of experiencing psychological impacts after traumatic events. It is hoped that this assistance can speed emotional recovery, restore a sense of security and support students’ normal learning process. (isa/lir)

Bogor – The Land Retaining Wall (TPT) of one of the hotels in Puncak, Megamendung, Bogor Regency, collapsed. Landslide material blocked drainage and caused flooding in residential areas, damaging residents’ homes. Head of the Bogor Regency BPBD Emergency and Logistics Division, M Adam Hamdani, said the landslide was reported to be due to heavy rain and unstable ground conditions, around 17:00 WIB. The TPT that collapsed was 3 meters high and 10 meters long. “Due to high intensity rain and unstable ground, the hotel’s TPT collapsed. It is about 10 meters long, 3 meters high and 1 meter wide,” Adam said on Thursday (11/12/2025). Scroll TO CONTINUE CONTENT “Landslides covered environmental drainage, leading to flooding affecting residents’ residential areas,” he continued. Adam said that three residential units were damaged as a result of the incident. However, Adam says there were no injuries or deaths in the incident. “It is estimated that as a result of the rapid assessment, 3 residential units suffered moderate damage, and 1 residential unit was affected by flooding,” said Adam. Adam said that as many as four heads of families (HHs) who lived in the affected houses were temporarily evacuated to various points. This includes going to the official residence of the head of Megamendung Subdistrict, to the homes of his relatives in Cianjur and Citayam. “The final situation is that the damaged houses have not been repaired at the moment. The drainage blocked by landslides has been evacuated. The four families who lived in the house have been temporarily evacuated,” said Adam. (sol/isa)

Jakarta – Commander of Company (Danki) An Infantry Battalion Territorial Development (TP) 834/Wakanga Mere, First Lieutenant Ahmad Faisal, was sentenced to 12 years in prison for the death of Prada Lucky Saputra Namo. Prada Lucky’s boss was also charged with the additional penalty of dismissal from the TNI. As reported by detikBali, the hearing for the charges was held on Thursday (11/12) at Military Court III-15 Kupang, East Nusa Tenggara (NTT). The hearing was presided over by the chairman of the panel of judges, Major Chk Subiyatno, with two members of the judges, namely Captain Chk Dennis Carol Napitupulu, and Captain Chk Zainal Arifin Anang Yulianto. “We demand that the accused infantry lieutenant Ahmad Faisal be sentenced to 12 years in prison and an additional sentence of dismissal from TNI service,” said prosecutor Major Chk Wasinton Marpaung. SCROLL TO CONTINUE CONTENT. Lucky’s direct superior also had to pay a restitution fee of IDR 561 million. The prosecutor assessed Ahmad Faisal as the person who accused Lucky of deviant or LGBT behavior with Prada Richard Bulan. Ahmad Faisal was also proved and found guilty under the primary charge of Article 131 of the Military Criminal Code. “The accused must therefore be severely punished because it is proven that he allowed and did not protect his subordinates who were tortured by the other 21 accused, so this is in accordance with the second primary charge,” says Wasinton. It is said that the accused was unable to control himself within reasonable limits and violated his soldier’s oath and ethics. He also tarnished the image of the TNI and caused deep suffering to the victims. “As a superior, the defendant Prada should have protected Lucky Chepril Saputra Namo, but it has been proven that the defendant made it happen,” he said. Read the full news here. (wnv/lir)