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The Information reports that Databricks is in discussions to raise capital valued at $134 billion.
The Information reported Sunday that Databricks, a data analytics company, is in discussions to raise $5 billion. This would be at a valuation $134 billion. That's roughly 32 times the expected sales for this year of $4.1 billion. Investor documents and someone familiar with the situation were cited. Could not verify the report immediately. Databricks declined comment. The Information reported that Databricks increased its sales forecasts from $3.8 billion in September to $4 billion before slightly revising them upwards again. It expects sales growth of 55% in this year. The Information reported that the company told investors at the same time that its gross margin was falling faster than expected, from 77% to 74%, compared to a previous plan of 77%. This is due to the increased usage of AI products. Databricks was founded in 2013 and offers a platform to help users ingest data, analyze it and create AI applications. The company is viewed by many as the leading candidate for going public, and it has received numerous inquiries from investors. According to its website, Databricks serves more than 20,000 clients, including Block, the payments company, and Shell, a major energy company, as well as Rivian, a maker of electric vehicles. (Reporting and editing by Edmund Klamann, Diane Craft and Disha Mishra from Bengaluru)
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Four people killed after 14 shooters at a family gathering in Stockton California
Police said that four people died on Saturday night after police shot 14 people at a family reunion in Stockton, California. Stockton Vice Mayor Jason Lee stated in a post on Facebook that the shooting occurred at a birthday party for a child. He said: "I'm in touch with staff and officials from public safety to find out exactly what happened. I will continue to push for answers." Police received reports of a shooting near the 1900 block Lucile Avenue, Stockton shortly before 6 p.m. local (0200 GMT). San Joaquin County Sheriff's Office posted on X that "we can confirm, at this time, that approximately fourteen individuals were hit by gunfire and four victims have now been confirmed dead." Information is limited, as this investigation is very active. Investigators are looking into all possibilities. Early indications indicate that this could be a targeted attack. Authorities haven't provided any information about the shooter.
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US Judge authorizes sale to Elliott of Citgo parent shares
The sale of shares of Citgo Petroleum, the Venezuelan-owned parent company of Citgo Petroleum, to Elliott Investment Management was approved by a U.S. Judge on Saturday. This follows his approval this week of the $5.9 billion offer from the company at a court-organized bid to pay Venezuelan-related creditors. The sale order is a major legal step that wraps up a two-year auction to pay 15 or more creditors for defaults on debt and expropriations. Citgo Holding, Citgo's parent company, was found liable by the Delaware court for Venezuela's debt. This opened the door to over a dozen other creditors joining the auction. A court officer who was overseeing the auction had recommended Elliott's Amber Energy earlier this year, after recommending an offer by Gold Reserve, a rival bidder. This change led to a flood of objections, challenges and complaints against Amber's bid. Judge Leonard Stark in Delaware overruled them. Venezuela and other parties to the case have announced that they will appeal Stark’s decision to confirm Amber's bid. In his order, Judge Stark stated that "the consideration provided by the purchaser under the stock purchase contract is fair, reasonable, and adequate consideration for the PDVH share and constitutes a price adequate for the purchase of PDVH's shares under the Sale Procedures Order." If the transaction is successful, more than a half-dozen creditors will receive the proceeds of the auction. Amber announced earlier this week that the sale would close in 2019 pending regulatory approvals and U.S. Treasury Department approvals. These creditors include ConocoPhillips, Crystallex, Rusoro Mining and industrial conglomerates O-I Glass, Koch and O-I Glass. The judge stated that the buyer would not be liable for Citgo, Venezuelan oil company PDVSA or the Republic after the sale. The judge said that the buyer would not be liable for Citgo's ultimate parent, Venezuelan oil company PDVSA or the Republic.
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How would Venezuela's military react to an attack by the US?
Donald Trump, the U.S. president, said that on Saturday airspace surrounding Venezuela and above it should be "closed completely", but he did not give any details. Washington is continuing to increase pressure on President Nicolas Maduro’s government. Trump has said repeatedly that U.S. attacks on alleged drugs boats in the Caribbean, Pacific and South America, which have claimed the lives of more than 80 people could lead to land action. He has also held a phone call with Maduro, and discussed the possibility of a U.S. trip by Venezuela's president. WHAT ARE VENEZUELA'S MILITARY CAPABILITIES? Six sources familiar with Venezuelan capabilities claim that the U.S. army dwarfs Venezuelan's. Venezuelan forces are crippled by low wages, a lack in training and outdated equipment. Even though Maduro has been in power since 2013 and enjoys military loyalty, rank-and file soldiers only earn $100 per month in local currency. This is less than a fifth of the amount that studies estimate an average family would need to cover its basic needs. According to sources, desertions could increase if the U.S. military attacks. Venezuelan troops have primarily faced unarmed civilians in street protests. Maduro claimed that 8 million civilians were training to be militia members, but a source said only a few thousand intelligence personnel, supporters of the ruling party and militia members would actually participate in defensive action. Lacking is the military equipment, which is mostly Russian and old. Caracas purchased 20 Sukhoi jet fighters in the 2000s. However, they are considered inferior to U.S. B-2s. Venezuela also has outdated Russian helicopters, tanks, and shoulder-fired rockets. How would VENEZUELA respond to an attack? Sources and documents viewed by us show that Venezuela is planning to mount a guerrilla resistance or create chaos if the U.S. launches an air or ground assault. High-ranking officials have referred to the response publicly, but without providing details. They refer to it by calling it "prolonged opposition", which would involve small military groups at over 280 locations committing acts of sabotage or other guerrilla techniques. Venezuela's 5,000 Russian Igla missiles have been deployed. Maduro praised them recently on Venezuelan state television. Sources said that military orders were given for units to disperse in different locations and hide if an attack occurs. Sources say that the second strategy, which is called "anarchization", and which officials are not aware of, uses intelligence services to use armed supporters of the ruling party in order to cause chaos in Caracas, and thus make Venezuela ungoverned. DO YOU KNOW IF THERE ARE OTHER ARMED ACTORS IN VENEZUELA? The National Liberation Army, a Colombian guerrilla force, operates in the western part of Venezuela. This area is also the center for coca cultivation, the main ingredient of cocaine. Often, supporters of the ruling party, collectives or colectivos as they are also called, mobilize on motorcycles in order to face protesters. Sometimes they are armed. Venezuelan opposition groups and NGOs as well as Washington and certain Latin American governments accuse Maduro of having ties with drug trafficking organizations, which are also accused by some of violence. The Venezuelan government denies any such links, and claims that the U.S. wants to change the regime in Venezuela so as to control its vast oil reserves. (Reporting and Editing by Alexander Smith).
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Church leader: Nigerian abductors killed a priest after one month of captivity
The head of the Church of Nigeria confirmed that an Anglican priest who was kidnapped last month in the northwest of Nigeria has died in captivity. This comes as Nigeria is reeling from a wave of abductions and murders which has drawn the condemnation of Washington. Archbishop Henry Ndakuba stated that Venerable Edwin Achi was killed after spending a month as a captive. He had been taken with his wife, daughter and son from their Kaduna home on October 28. In a late-Friday statement, Ndakuba stated: "With deep sorrow, we announce that our beloved priest... was brutally killed after suffering a month long abduction." The church reported that gunmen demanded at first a ransom payment of 600 million Naira (416,00) to release Achi, but later reduced it to 200,000,000 Naira. His wife and his daughter are still in captivity. Police in Kaduna have not responded to any requests for comments. The killing occurs amid a wave kidnappings across northern Nigeria. Armed gangs kidnapped 25 schoolgirls from Kebbi State on November 17, and days later more than 300 students and staff from a Catholic School in Niger State, prompting the closure of schools in several states. Bola Tinubu, the president of Nigeria, ordered the recruitment and cancellation of foreign trips in order to deal with what he termed a "national crisis." These attacks have also caused international concern. Donald Trump, the U.S. president, called Nigeria's situation "a disgrace". He warned that Washington would halt its aid and even take military action against Nigerian authorities if they failed to stop violence against Christians. Ndakuba called on the government and security services to "identify the treacherous sponsors and financiers, and enablers" of the wave of terror and demanded the immediate release Achi's daughter and wife.
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Russian drones and missiles injure 11, kill 1 in Kyiv
Russian drones, missiles, and explosions caused fires in Kyiv's districts early Saturday morning, according to officials. One person was killed and 11 others injured. This was the second attack in four days on the Ukrainian capital. On Tuesday, seven people were killed when Russian forces fired a barrage with drones and missiles. Tymur Tkachenko said that six locations in Kyiv, a city of three million people, were struck by explosions on Saturday. Apartment buildings and other dwellings were also affected. The military administration reported that the remains of a resident were recovered from the rubble in an apartment building which had been set on fire. The same building was also the site of a child's rescue. Vitali Klitschko, the mayor of the city of Kiev, said that a strike also caused a fire to start in the lower levels of an apartment building west of the centre. A second fire was also quickly put out in the central district. After 5 am (0300 GMT), a new alert was sent out in the capital for drones approaching. Online pictures showed an apartment building on fire, and emergency crews working in the streets and alongside damaged buildings. (Reporting and editing by Ron Popeski, Diane Craft, Tom Hogue and Chris Reese)
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Rosneft, Russia's oil company reports 70% drop in nine-month net profit
Rosneft, Russia's biggest oil producer, reported a 70% drop in net income from January to September, falling by $3.57 billion or 277 billion Russian roubles. The company attributed the decline to high interest rates and cheaper oil, as well as a stronger rouble. Shell and TotalEnergies have seen their quarterly profits fall due to lower oil prices. Rosneft stated that the increased "anti-terror" security was putting additional pressure on its results. The company didn't elaborate on specific security measures. Ukraine has increased drone attacks against Russia's energy infrastructure. Rosneft reported that its revenues dropped 17.8% to 6.29 trillion rubles in the first nine-month period of the year. The high key interest rate of the Bank of Russia continues to negatively impact the profit. Rosneft also said that non-monetary factors and special events had a negative impact on the indicator's dynamic during the reporting period. EBITDA (earnings before taxes, depreciation, and amortization) decreased by 29.3% for the period to 1.6 trillion Russian roubles.
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Petrobras cost-cutting could affect new wells in the Equatorial Margin Region
Petrobras' CEO stated on Friday that the company could reconsider some of its 15 planned wells in the "Equatorial Margin" because Brent oil prices will likely remain low for the next few years. Petrobras has cut its investment plans for the period 2026-2030 by $500 million up to $2.5 billion. Magda Chambriard, Petrobras' Chief Executive Officer, said at a recent press conference that "we had a large number of wells in the Equatorial margin; some were prioritised, while others were, say, deprioritized based on the Brent crude oil price." She did not specify how many wells would be examined. Petrobras is drilling in an environmentally sensitive region off the coast Amapa, known as Foz do Amazonas. Fernando Melgarejo, the Chief Financial Officer of Petrobras, told journalists that the company's cuts would also affect the extraordinary dividends paid to shareholders. He said the likelihood of distributing extra cash is low in the future. Chambriard stated that despite the cuts, Petrobras will maintain its oil production around 2.6 or 2.7 millions barrels per day up until 2034, after ramping it back up in 2027. Petrobras' new business plan expects it to reach a peak oil production level in five years. Reporting by Fabio Téixeira and Marta Nogueira from Rio de Janeiro, writing by Andre Romani and editing by Kyrry Madry and Paul Simao
US makes progress in talks with Ukraine after meeting in Florida, but still more work is needed to reach a deal
U.S. officials and Ukrainian officials had what both sides described as productive talks about a Russia-Peace Deal on Sunday. Secretary of State Marco Rubio expressed optimism about the progress made despite challenges in ending the war that has lasted more than three years.
Rubio met a Ukrainian delegation headed by a newly appointed chief negotiator at his home in Florida. He said the talks were to help Ukraine maintain its sovereignty and independence.
Rubio, after the end of the talks, told reporters that "we continue to be realistic about how difficult this situation is but optimistic." "It's about securing Ukraine’s future. A future we hope will more prosperous than ever before." Rubio told reporters after the talks concluded.
These discussions followed a new round of negotiations which began with an updated U.S. peace blueprint. Critics claimed that the plan favored Russia initially, as it was Russia who started the conflict in 2022 with an invasion of Ukraine.
Steve Witkoff, the special envoy, and Jared Kushner - son-in law of U.S. president Donald Trump - were also in attendance to represent the U.S. Witkoff will leave for Moscow on Monday, where he'll meet with Russian counterparts this week.
There's still more work to do. Rubio called the situation "difficult". There are many moving parts and there is another party involved in this... which will be part of the equation later this week when Mr. Witkoff goes to Moscow.
Trump has expressed frustration over not being able end the war. He promised as a candidate for president to end the war in a day.
Trump's team has pressed Ukraine to make concessions, including a territorial transfer to Russia.
On Sunday, the Ukrainian side changed its leadership. After the Friday resignation of Andriy Yeromak, the previous leader of the team, who was the chief of staff of Ukrainian President Volodymyr Zelenskiy, due to a scandal in Ukraine, a new chief negotiator led the talks for Kyiv, Rustem Umerov.
Trump said on Air Force One that Ukraine had "some difficult little problems" referring to the scandal of corruption, which was "not helpful". He reiterated his belief that both Russia, and Ukraine, wanted to end this war.
Umerov thanked officials in the United States for their support. He said, "U.S. hears us, U.S. supports us, U.S. walks beside us" in English, as the negotiations started.
He declared the meeting productive afterward. Umerov stated that "we discussed all important issues for Ukraine and the Ukrainian people, with U.S. being super supportive."
The Sunday talks were held near Miami, at Shell Bay, a private club developed by Witkoff’s real estate company.
Zelenskiy said that he expected results of previous meetings to be "hammered" out on Sunday. Ukraine made a counter-offer in Geneva to the proposals that U.S. Secretary Dan Driscoll had presented to Kyiv leaders two weeks earlier.
The Ukrainian leadership is trying to push back against a Russian-friendly regime as Russian forces advance along the frontlines of the war, despite a political crisis at home sparked by an investigation into major corruption in the energy sector.
Zelenskiy warned Ukrainians last week that their country was in its most difficult situation yet, but vowed to not make a bad bargain.
Sergiy Kyslytsya (also part of the delegation) wrote from Miami, "There's an inherent difficulty in forecasting, because the atmosphere is a chaos system where small differences can lead to big outcomes." Jeff Mason reported from Hallandale Beach in Florida. Additional reporting was provided by Jasper Ward and Dan Peleschuk; editing by Chizu Nomiyama and Sergio Non.
(source: Reuters)