Category: News
Oracle Tumbles On Disappointing Cloud Revenue; CapEx Soars: Funding Questions Remain
Oracle Tumbles On Disappointing Cloud Revenue; CapEx Soars: Funding Questions Remain
While the Fed’s “not so hawkish” cut was certainly better than what the market expected, largely thanks to the very dovish addition of $40BN in not QE monthly Reserve Management Purchases of T-Bills, there was another key event today and, as we previewed earlier, that was Oracle’s second quarter results. And unlike the Fed, this one was not nearly as good for risk assets: the company reported earnings which beat estimates, but the top line was a mess, with cloud growth missing across the board, and margins also disappointing, sending the stock lower after hours.
Here is what Oracle just reported for Q2:
Adjusted EPS $2.26 vs. $1.47 y/y, beating estimates of $1.64
The company clarified that GAAP and non-GAAP earnings per share “were both positively impacted by a $2.7 billion pre-tax gain in the sale of Oracle’s interest in our Ampere chip company.”
Adjusted revenue $16.06 billion, +14% y/y, missing estimates of $16.21 billion
Cloud revenue (IaaS plus SaaS) $8.0 billion, +36% y/y, missing estimate $8.04 billion
Cloud Infrastructure revenue (IaaS) $4.1 billion, +71% y/y, beating estimates of $4.09 billion
Cloud Application revenue (SaaS) $3.9 billion, +11% y/y, matching estimates of $3.9 billion
Software revenue $5.88 billion, -3.1% y/y, missing estimates of $6.03 billion
Hardware revenue $776 million, +6.6% y/y, beating estimates of $716.7 million
Service revenue $1.43 billion, +7.4% y/y, beating estimates of $1.36 billion
Revenue in constant currency +13%, missing estimates of +14.6%
Cloud revenue (IaaS plus SaaS) in constant currency +33%, missing estimate +35.1%
Cloud Infrastructure revenue (IaaS) in constant currency +66%, missing estimate +69.1%
Cloud Application revenue (SaaS) in constant currency +11%, missing estimate +12.4%
Adjusted operating income $6.72 billion, +10% y/y, beating estimates $6.82 billion
Adjusted operating margin 42% vs. 43% y/y, missing estimates of 42.2%
Remaining performance obligations $523 billion, up 15% and beating est of $519.4BN
Commenting on the quarter, Larry Ellison said that “we are now committed to a policy of chip neutrality where we work closely with all our CPU and GPU suppliers. Of course, we will continue to buy the latest GPUs from NVIDIA, but we need to be prepared and able to deploy whatever chips our customers want to buy,” said Oracle Chairman and CTO, Larry Ellison. The question, of course, is where will the money come from for the company which has spooked the stock – and especially bond market – with its CDS soaring to the highest since the GFC, as markets realized that ORCL will need to issue a lot more debt to fund its capex.
Ellison also said that “Oracle sold Ampere because we no longer think it is strategic for us to continue designing, manufacturing and using our own chips in our cloud datacenters.”
There was the token AI pitch of course: “There are going to be a lot of changes in AI technology over the next few years and we must remain agile in response to those changes.”
“Remaining Performance Obligations (RPO) increased by $68 billion in Q2—up 15% sequentially to $523 billion—highlighted by new commitments from Meta, NVIDIA, and others,” said Oracle Principal Financial Officer, Doug Kehring.
So what to make of these results? Well, as we noted in our preview, while three months ago, Oracle’s scorching earnings outlook sent the shares soaring to their best day in three decades, today things look very different for the database software maker and the AI trade in general.
Heading into today’s earnings report, ORCL shares plunged 33% since Sept. 10 (and more than 40% at the lows), when they hit an all-time high based on enthusiasm for raging growth in its cloud business. Today, Oracle and many other artificial intelligence companies are facing a wave of skepticism due to heavy capital expenditures and the circular nature of some arrangements.
Today’s results were mixed at best: yes earnings beat, but Oracle posted disappointing cloud revenue, signaling it will take longer than expected for the company’s recent huge AI bookings to pay off. As noted above, Q2 cloud sales increased 34% to $7.98 billion, while revenue in the company’s closely watched infrastructure business increased 68% to $4.08 billion. Both numbers fell just short of analysts estimates.
The silver lining: Oracle’s remaining performance obligation, a measure of bookings, jumped to $523 billion in the fiscal second quarter, which ended Nov. 30, the company said Wednesday in a statement. Analysts, on average, estimated $519 billion, according to data compiled by Bloomberg. Still, ORCL needs to start monetizing this backlog instead of just parading with how much it may collect at some point in the future.
Oracle has found recent success in the competitive cloud computing market. It’s engaging in a massive data center build-out to power AI work for OpenAI and also counts companies such as ByteDance’s TikTok and Meta Platforms as major cloud customers.
Still, as Bloomberg notes, Wall Street has raised doubts about the costs and time lines required to develop AI infrastructure at such a massive scale. Oracle has taken out massive sums of debt and committed to leasing multiple data center sites; its off-balance sheet debt is also emerging as a potential risk.
Investors want to see Oracle turn its higher spending on new data center infrastructure into revenue as quickly as it has promised. Capital expenditures, a metric of data center spending, were about $12 billion in the quarter, an increase from $8.5 billion in the preceding period. Analysts anticipated $8.25 billion in capital spending in the quarter. In September, the company projected capital expenditures of $35 billion for the fiscal year.
Part of the negative sentiment from investors in recent weeks is tied to increased skepticism about the business prospects of OpenAI, which is seeing more competition from companies like Google, wrote Kirk Materne, an analyst at Evercore ISI, in a note ahead of earnings. Investors would like to see Oracle management explain how they could adjust spending plans if demand from OpenAI changed, he added.
But the biggest question, however, is the one we flagged earlier: where/when will the money to fund all this massive capex growth come from… and it better not be all debt because in that case the Barclays bear case of zero cash in late 2026 comes into play and ORCL’s CDS will go straight up. The company better have a ready answer during the earnings call
ORCL shares slumped 6% in after hours after closing at $223.27 in New York.
Tyler Durden
Wed, 12/10/2025 – 16:38
11 Signs That Our World Is Rapidly Becoming A Lot More Orwellian
11 Signs That Our World Is Rapidly Becoming A Lot More Orwellian
Authored by Michael Snyder via The Economic Collapse blog,
All over the globe, the digital control grid that we are all living in just continues to get even tighter. They are using facial recognition technology to scan our faces, they are using license plate readers to track where we travel, they are systematically monitoring the conversations that we are having on our phones, and they are watching literally everything that we post on social media. At this stage, many of us just assume that nothing that we do or say is ever truly private. We really do live in a “Big Brother society”, and the potential for tyranny is off the charts. In fact, people are already getting arrested for “thought crimes” all over the world. If we do not take a stand now, someday soon we could wake up in a world where there is essentially no freedom left at all.
The exponential growth of AI technology is allowing authorities to watch, track, monitor and control us like never before. If you are not alarmed by this, you might want to check if you are still alive. The following are 11 signs that our world is rapidly becoming a lot more Orwellian…
#1 UK authorities are rolling out “a country-wide facial recognition system” that will use AI facial recognition cameras to watch the entire population…
On Thursday, officials in the UK pledged to roll out a country-wide facial recognition system to help police track down criminals. The country’s ministers have launched a 10-week consultation to analyze the regulatory and privacy framework of their AI-powered surveillance panopticon — but one way or another, the all-seeing eye is on its way.
There’s just one tiny wrinkle: the AI facial recognition cameras have a tendency to misidentify non-white people.
New reporting by The Guardian notes that testing of the AI tech conducted by the National Physical Laboratory (NPL) found that it‘s “more likely to incorrectly include some demographic groups in its search results” — specifically Black and Asian people.
#2 Of course the control freaks in the UK also monitor everything that gets posted on social media. One British man recently found this out the hard way when he was arrested for posing with a legally-owned gun in the United States…
A Yorkshire man was arrested over a photo he posted on social media featuring him holding a legally owned gun in the US.
Jon Richelieu-Booth posted a photo of himself in August holding a gun on LinkedIn while he was on a holiday in Florida.
He said he held the firearm lawfully, on private land and with full permission from its owner.
#3 If you do not believe that “thought crime” is real, just consider this next example. 11 police officers recently barged in and arrested a 34-year-old woman that was sitting naked in her own bathtub because she used offensive words while texting another woman on her phone…
The United Kingdom has become an authoritarian nightmare, and the United States must remain vigilant if it does not want to go down the same course.
Elizabeth Kinney, a 34-year-old care assistant, was naked in the bathtub when 11 police officers barged into her home to arrest her.
Her crime was sending insults to another woman via text.
How would you feel if 11 police officers were staring at you while you were naked?
As she was being informed that she had engaged in “malicious communications”, tears started flowing from Kinney’s eyes…
Kinney burst into tears as male officers denied her any privacy, and a female officer informed her that she was being arrested for “malicious communications and hate crime.” “The Crown place this offense in the highest category of its type due to the effect related to sexual orientation and the greater harm because it had moderate impact,” prosecutors insisted. Kinney faced ten years in prison, but her attorney begged for leniency. She has been ordered to perform seventy-two hours of community service, attend ten days of rehabilitation, and pay a fine of several hundred pounds.
#4 French President Emmanuel Macron wants the power to determine which media outlets will be allowed to speak to the public and which media outlets will be silenced…
Macron has in the last weeks intensified warnings on the risks of disinformation, on Friday calling for changes to French legislation that would allow “false information” online to be urgently blocked.
He has also called for “professional certification” of outlets to distinguish sites and networks that provide reliable information according to ethical rules from others that do not.
But at the weekend, the Journal du Dimanche Sunday newspaper, part of the influential media stable of right-wing tycoon Vincent Bollore, accused Macron in a front-page story of a “totalitarian drift” on the issue.
#5 Because he is a champion of free speech, the EU has been coming after Elon Musk for years. So it shouldn’t surprise any of us that the European Commission just fined his company 140 million dollars for supposed violations of the Digital Services Act…
The European Commission has issued a $140 million fine to Elon Musk’s X for violating the EU’s controversial Digital Services Act (DSA). The fine is likely to escalate tensions between the EU and America over free speech online.
Bloomberg reports that the European Commission has imposed a €120 million ($140 million) fine on X, Elon Musk’s social media platform, for breaching the EU’s Digital Services Act (DSA). This marks the first penalty issued under the new censorship law, which aims to regulate online platforms and “protect” users from illegal content and disinformation.
#6 In recent years, we have seen so many controversial voices suddenly have their bank accounts shut down. Shockingly, JPMorgan Chase CEO Jamie Dimon is now publicly admitting that his company does “debank” people…
As JPMorgan Chase Bank is under investigation by the state of Florida for alleged coordination with the Biden Department of Justice and Operation Arctic Frost, the chairman of the company is admitting to debanking certain customers, but says it has nothing to do with their political or religious affiliations.
“We do debank them,” said JPMorgan Chase CEO Jamie Dimon who appeared on “Sunday Morning Futures” with Maria Bartiromo on the Fox News Channel.
“People have to grow up here and stop making up things and stuff like that. I can’t talk about an individual account.
#7 India wants to require that phone location services are always on so that the government can track people through their phones wherever they go…
You know what they say: If at first you don’t succeed at mass government surveillance, try, try again. Only two days after India backpedaled on its plan to force smartphone makers to preinstall a state-run “cybersecurity” app, Reuters reports that the country is back at it. It’s said to be considering a telecom industry proposal with another draconian requirement. This one would require smartphone makers to enable always-on satellite-based location tracking (Assisted GPS).
The measure would require location services to remain on at all times, with no option to switch them off. The telecom industry also wants phone makers to disable notifications that alert users when their carriers have accessed their location. According to Reuters, India’s home ministry was set to meet with smartphone industry executives on Friday, but the meeting was postponed.
#8 A journalist in the Netherlands has tested AI-powered glasses “that can instantly identify strangers on the street”…
A Dutch journalist just tested a pair of AI-powered glasses that can instantly identify strangers on the street.
No government database. No police system. Just public data and off-the-shelf AI.
You look at someone and in seconds, their name, LinkedIn, and background appear before your eyes.
The scariest part? You can’t really stop it.
You can ban it, regulate it, add blinking red lights… but once tech like this exists, someone will always find a way to use it.
Once these sorts of devices become widely available, there will be nowhere to run and nowhere to hide.
#9 A nationwide digital ID is being introduced in the UK, and soon you will not be able to get a new job without one…
Once introduced, digital ID will be used to verify a person’s right to live and work in the UK.
It will take the form of an app-based system, stored on smartphones in a similar way to the NHS App or digital bank cards.
The ID will include information on the holders’ residency status, name, date of birth, nationality and their photo.
When he first announced the scheme, Sir Keir said: “You will not be able to work in the United Kingdom if you do not have digital ID. It’s as simple as that.”
#10 The digital ID program in France “is moving from pilot to scale”…
France’s national digital identity app, France Identité, has enabled the creation of more than 3.2 million digital IDs, according to new figures.
Among these, approximately 525,000 identities have been fully certified, meaning that users have completed an in-person verification process at their local town halls. This means that more than half a million French digital IDs are ready for the EU Digital Identity (EUDI) Wallet, according to Joerg Lenz, head of marketing at Namirial Group.
“France Identité is moving from pilot to scale,” Lenz wrote on LinkedIn, following the TRUSTECH Event held in Paris on Wednesday.
#11 In Illinois, there is such overwhelming demand for digital IDs that some people are being forced to wait…
Mobile IDs became available in Illinois on Wednesday, but due to the high demand, some residents are finding themselves waiting a little bit longer.
A number of residents trying to download the digital ID to their Apple wallet received the following message: “Due to the high volume, your state’s service is currently busy.”
Users can then answer the question, “Do you want to be notified when it becomes available?”
This is where the entire world is heading.
As the Big Brother control grid gets tighter and tighter, the stage is being set for unprecedented tyranny on a global scale.
Tyrants of the past could only dream of having the sort of AI-powered tools that we possess today.
If you do not submit to the digital gulag that is being constructed all around us, eventually you may not be able to buy, sell, get a job or open a bank account without proper digital identification.
What would you do then?
You might want to start thinking about that, because things are only going to get crazier from here.
Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Tyler Durden
Wed, 12/10/2025 – 16:20
https://www.zerohedge.com/technology/11-signs-our-world-rapidly-becoming-lot-more-orwellian
Area pet shelters harness holiday fun to boost adoptions, interactions with community
Some of the visitors to the Animal Welfare League last weekend did a double-take when they saw the Grinch and Cindy Lou Who sitting in the lobby.
They quickly found out the characters created by Dr. Seuss were there for photo sessions, and some of the people and their dogs then joined in.
First in line was LaVandy Goines, who had brought her family’s two pit bulls for pictures a year ago and just knew she had to do it again.
It was also a way to memorialize the special lives of the 12-year-old dogs.
“I wanted to be sure to get our Christmas pictures again,” said Goines. “Sometimes I get discounted toys and every year, Christmas collars.”
Goines, her grandson Jalen, and tail-wagging dogs Shane and Sassy were fired up for the fun. She and her grandson were treated to fresh popcorn, cookies, as well as “Grinch juice” and “Grinch mix.” The two pit bulls got some treats as well. There were also stuffed toys for kids or their pets.
Afterwards, the two dogs got their discounted immunizations from the shelter’s clinic, which is just steps away.
The busy lobby of the Chicago Ridge shelter was decorated for the occasion with Christmas trees, holiday scenes and photos of the Grinch, a popcorn cart and table with refreshments. It was the third year for the event, which was started and organized by Chris Higens, the shelter president.
“People do Santa all the time, and we thought, let’s do something a little different to attract people to our shelter and just give back to the people who come here,” Higens said.
Jocelin Campa, a.k.a. the Grinch, works as a kennel attendant and brought her younger sister, Dayana Navarro along to be Cindy Lou Who.
Cindy Lou Who and The Grinch pose for a photo with a dog last weekend at Animal Welfare League in Chicago Ridge. (Janice Neumann/Daily Southtown)
“I like interacting with the people and the dogs,” said Campa, who lives in Harvey.
Other employees were getting into the spirit, too, some dressed in Christmas attire and others simply enjoying the moment.
“I love this event. I love Christmas,” said Shay Jackson, kennel coordinator, as she checked in people bringing their pets to the clinic. “That’s when everyone is happy.”
Karen Weir, a kennel attendant whose favorite thing is getting dogs adopted, also helped out.
“It brings people together,” said Weir. “It’s wonderful to see the kids and the dogs.”
Attendees could also get a special AWL ornament with the pictures for a $5 donation to the shelter. There were also Grinch shirts for sale, Christmas collars and dog attire, as well as second-hand items from their regular store.
The Cruz family heard about the event just after they and their son had enjoyed watching the movie, “The Grinch” again. They knew they had to come for the picture, even though they couldn’t bring their 10-year-old poodle, who is still somewhat of a wild child.
“We’re excited for it,” said Jovana Cruz, husband Jorge and son Isaiah by her side.
South Suburban Humane Society staff members hang out with the Grinch during a recent event at the shelter in Matteson. (South Suburban Humane Society)
Other area shelters also have holiday events to attract people and garner some donations.
South Suburban Humane Society recently held a holiday market with baked goods and crafts for sale to benefit the Matteson shelter. They also have Pit Stops, a mobile pet food and supplies pantry, which includes stops during the holidays. Information is at southsuburbanhumane.org/pit-stop.
South Suburban Humane Society this year also did a Grinch gig where people could get their photos taken with their pets and the Dr. Seuss character (and get an ornament with the picture) during their recent holiday market.
PAWS Tinley Park usually hosts a Christmas Memory Tree event, where pet owners can get a memory light for $5 (goes to the shelter) and place a picture of their pets on the tree near the light. Information is at pawstinleypark.org/.
Janice Neumann is a freelance reporter for the Daily Southtown.
https://www.chicagotribune.com/2025/12/10/pet-shelters-holiday-fun/
Gary officer arrested for battery in Portage, now on unpaid leave
A Gary police officer with a 17-year tenure has been placed on unpaid leave after his domestic battery arrest in Portage, the department announced Wednesday.
“Integrity is the foundation of public safety. While this news is disappointing, I want to reassure the public: the alleged actions of one individual do not define the character of this department,” Chief Derrick Cannon said in a Wednesday statement. “The men and women of the Gary Police Department show up every single day with professionalism, courage, and a genuine heart for service to this city. We are building a culture of accountability and excellence, and we will not let this isolated incident distract us from our mission to protect and serve our community.”
Sgt. Jamaal Joseph, 40, was arrested by the Portage Police Department, according to documents from the agency. He was charged with a felony count of domestic battery in the presence of a child younger than 1 years old and two misdemeanors for operating a vehicle while intoxicated, one while endangering a person, according to online court records.
Joseph was ordered to have no contact order with the victim on Tuesday, and multiple hearings have been scheduled. A jury trial is scheduled to start at 8 a.m. Oct 15, 2026, according to online court records.
Joseph was placed on unpaid leave once the Gary Police Department verified the charges, according to a Wednesday social media post. He will remain on leave “pending the outcome of the criminal proceedings and the completion of our own internal investigation.”
A Portage officer spoke with the victim at about 10:30 p.m. on Dec. 8, who said Joseph allegedly struck the right side of her face with a closed first in a “rude, insolent, or angry manner,” according to the probable cause affidavit.
A child was upstairs in the home when she saw Joseph allegedly hit the victim.
Another officer found Joseph after the incident, according to the probable cause affidavit, and dispatch advised him that Joseph was allegedly involved in a physical domestic battery while having a weapon out. While driving, Joseph was allegedly moving unsafely between lanes.
According to the probable cause affidavit, Joseph smelled of alcoholic beverages, had red and watery eyes, his pants’ zipper was down, and he said he was drinking. The officer conducted multiple field tests, which Joseph failed.
In addition to his arrest, Joseph was issued a no contact order with the victim.
A discovery conference is scheduled for 8:30 a.m. May 11, 2026, followed by a pretrial conference at 1 p.m. Aug. 27, 2026. Porter County Superior Court Judge Jeffrey Thode will oversee the proceedings.
Concerns raised about Michigan City data center at IDEM meeting
For 33 years, in her career as a nurse, Michigan City resident Donnita Scully has worked with children who have asthma so bad that they can’t catch their breath to walk.
Now, Scully is worried that an incoming data center development will exacerbate respiratory problems, including asthma, for Michigan City residents.
Debra Shore, former regional administrator for EPA Region 5, speaks during a public meeting on the draft air permit for Lavender Fields Holdings LLC to bring 70 diesel backup generators online for their data center in Michigan City on Tuesday, Dec. 9, 2025. (Kyle Telechan/for the Post-Tribune)
“In our region, we already have greater than the state average level and also respiratory illnesses, and then now you’re going to bring these diesel pollutants into our community,” Scully said. “When you make decisions, you should make decisions based on the region and the county. … This is really going to affect us in a negative way.”
The Indiana Department of Environmental Management hosted a public meeting Tuesday night for an air permit that, if approved, would allow 70 diesel generators at a Michigan City data center site.
More than 30 speakers expressed concerns for the air permit and the environmental impact that the Project Maize data center will have on their homes, schools and city.
Jenny Acker, air permits branch chief in the IDEM Office of Air Quality, answered questions about the proposed permit. Acker told speakers that she could only answer questions about the permit, and any other concerns will have to be addressed by other IDEM branches.
IDEM air permits branch chief Jenny Acker, center responds to a question during a public meeting concerning a draft air permit for Lavender Fields Holdings LLC to bring 70 diesel backup generators online for their data center in Michigan City, on Tuesday, Dec. 9, 2025. (Kyle Telechan/for the Post-Tribune)
Acker also encouraged speakers to submit written comments to get answers.
Before construction and operation of the data center can begin, the company must receive the permit from IDEM, according to the Environmental Law and Policy Center.
The site would have 66 diesel-fired critical emergency generators “that would have no control device to limit emissions and would exhaust outdoors,” according to the Environmental Law and Policy Center. It would also have “insignificant activities,” which include two diesel-fired site entrance emergency generators, two diesel-fired fire pump emergency generators, and 70 belly tanks with a “a maximum storage capacity of 5,373 gallons to store fuel with no control devices.”
Ashley Williams, Michigan City resident and executive director of Just Transition Northwest Indiana, has been outspoken about her opposition to Project Maize for months.
LaPorte resident Jason Teets speaks during a public IDEM meeting on the draft air permit for Lavender Fields Holdings LLC to bring 70 diesel backup generators online for their data center in Michigan City on Tuesday, Dec. 9, 2025. (Kyle Telechan/for the Post-Tribune)
“Tonight, we are trying to take back our power,” Williams said Tuesday. “We demand that you deny the permit for 70 uncontrolled diesel generators, engines so secret their details are redacted from the public. These generators will operate within one mile of our schools, our green spaces, our homes, of nurses, teachers, retirees and loved ones.”
Williams asked for an extension of the public meeting, she said Tuesday, but IDEM denied that request. An IDEM official previously told the Post-Tribune in an email that in addition to not postponing the meeting, Dec. 15 is the deadline for written comments.
Acker reiterated Tuesday that IDEM saw no need for an extension. She told meeting attendees that the agency has to rely on federal and state regulations and requirements, and they cannot deny the permit as long as it meets those requirements.
“If we’ve done our job, and we believe we have, the permit that is public does contain all federal and state requirements that are applicable to the source, and such as being protective of human health and environment,” Acker said. “Barring comments that would cause us to believe something needs to be corrected in the permit, if the permit is correct, if it contains all federal requirements, then we will issue the permit.”
IDEM employees air permits branch section chief Heath Hartley, on left, and air permits branch chief Jenny Acker, look through documents as they answer questions during a public meeting concerning a draft air permit for Lavender Fields Holdings LLC to bring 70 diesel backup generators online for their data center in Michigan City, on Tuesday, Dec. 9, 2025. (Kyle Telechan/for the Post-Tribune)
Chris Cleveland, a La Porte resident, said Tuesday night that it’s “widely known” that Michigan City “cut a horrible deal” on the data center.
“The odds that (the operator) will actually comply with the rules that you set for them are very, very low,” Cleveland said, asking if IDEM has included city or county officials in their discussions.
Acker told Cleveland that they sent notice to local government officials about the permit, and they’ll follow up when a decision is made.
“Do we reach out to them and engage them in the permitting process? No,” Acker said. “We understand the regulations and the requirements, and we follow them. A councilman doesn’t because they’re not trained to do that analysis and we do.”
Just Transition NWI executive director Ashley Williams speaks during a public meeting on the draft air permit for Lavender Fields Holdings LLC to bring 70 diesel backup generators online for their data center in Michigan City on Tuesday, Dec. 9, 2025. (Kyle Telechan/for the Post-Tribune)
Michigan City Councilwoman Nancy Moldenhauer, D-6th, also spoke Tuesday night, saying she wants stricter emission standards for the end user. Once completed and operating, the data center will be located in Moldenhauer’s ward.
In addition to stricter emission standards, she’d like to see filters installed that can capture particulate matter to reduce pollution, high-grade diesel fuel and a limit on the number of generators, Moldenhauer said.
Moldenhauer would also like to see Indiana consider using battery storage systems at sites like Project Maize.
“I think that we as a state should seriously consider using other ways to back up energy when it’s necessary, especially when it’s close to where people live,” she said. “As people have said, there’s three schools (nearby) … There are several residential areas and also golf courses right next to the facility. … I think it’s important for people to know about alternatives and what could be considered.”
Acker said that IDEM cannot require the operator to use battery storage because that is not what state and federal regulations mandate.
“The requirement to use battery storage, if it’s coming in other states, it’s because the other state has required above and beyond what the federal regulations are requiring,” she added. “If you want to see battery storage as an alternative in this state, you need to go to your legislators and push for some state rules that require that type of energy storage.”
The end user for the data center has yet to be announced, but some Michigan City residents suspect it will be Google.
The Michigan City Common Council, in September, passed four resolutions that would allow the construction of a more than $800 million data center at 402 Royal Road, according to Post-Tribune archives. The resolutions provided multiple tax abatements, designated the area as an economic revitalization area and approved a taxpayer agreement for Project Maize.
Local politicians and Local 150 have expressed concerns that the project has hired out-of-state workers instead of union and local workers, and according to Local 150, the project has received $42 million in tax incentives through the Indiana Economic Development Corporation.
Kelley Smith, an administrator for the Michigan City Mayor’s Office, previously told the Post-Tribune that Project Maize is a private project and the city isn’t involved with the construction. Smith said Nelson Deuitch is supportive of the local workforce, and other unions are working at the site, including Local 210 plumbers, Local 1485 carpenters and Local 531 electricians, according to Post-Tribune archives.
“Neither the mayor nor any other city official can decide who gets hired to work at Project Maize,” Smith previously said. “The city does not have the authority to tell any private developer building a private project that they must fire their current workers and give those jobs to local people.”
Indiana Senate committee passes immigration enforcement bill
The Senate Judiciary Committee approved Tuesday an immigration bill that the Indiana Attorney General Todd Rokita criticized as a “watered-down, bizzaro world” version of an immigration bill that died last session.
Sen. Liz Brown, R-Fort Wayne, said she authored Senate Bill 76 to ensure that law enforcement officials in Indiana have proper training in immigration law enforcement. The bill ensures the state’s immigration laws “are being enforced and carried out,” she said.
“We know that President (Donald) Trump’s administration has asked for — and pleaded for quite frankly — support from local law enforcement. I have found overwhelmingly that our local law enforcement are willing to do that,” Brown said.
Rokita said Brown “single-handedly” killed the House Bill 1531 during the 2025 session because she wouldn’t let the bill be heard in the Senate Judiciary Committee. Rokita said Senate Bill 76 “takes all the enforcement teeth out” of House Bill 1531.
“Instead of just backing the FAIRNESS Act (HB 1531), which has already been reintroduced, Sen. Brown is desperately attempting to rewrite history and make it look like she cares about the illegal immigration issue. She doesn’t and has proven that time and time again,” Rokita said.
SB 76 states that if a law enforcement officer, government body, or educational institution is sued the attorney general can represent them in court.
The bill also states that the enforcement of federal immigration laws may be carried out by federal, state or local law enforcement. It also removes mens rea standard, or criminal intent, when it comes to governmental or educational institutions for violating the citizenship and immigration status information and enforcement of federal laws.
If someone is detained under an immigration detainer request, the bill states that the governmental body should give the judge authority to either grant or deny the person’s release on bail as well as record it in their file, and comply with and inform the detainee of the immigration detainer request.
The bill prohibits an employer from recklessly or intentionally hiring or employing an illegal immigrant. If the attorney general or law enforcement agency finds probable cause that an employer has hired or employed an illegal immigrant, then the United States Department of Homeland Security will be notified, according to the bill.
Under the bill, the Department of Correction will provide training to all sheriffs-elect on how to cooperate with the United States immigration and Customs Enforcement.
Further, the bill requires the office of the secretary to submit a report to the legislative council with data with the number of noncitizens who are receiving benefits through the Indiana Residential Care Assistance Program, public assistance and welfare programs, family assistance services, Medicaid and Community Mental Health Services.
Brown said she talked with Trump administration officials when crafting the bill. To enforce and fund the bill, Brown said the state will use resources within its disposal.
“The goal here is to not grown government and use the resources we have. By using the resources we have (we’re) saving taxpayer dollars as well,” Brown said.
During public comment, there were a mixture of people opposed to the bill as a whole, people who opposed the bill because it didn’t go far enough and support for the bill.
Rachel Van Tyle, director of Legal Services at Exodus Refugee Immigration, opposed the bill, particularly the section about the report of non-citizens applying for or utilizing services being shared with the legislative council.
Van Tyle said there are some programs, like Medicaid, where non-citizens can apply and receive benefits. In the rare event that someone applies for a benefit as a non-citizen, the person is notified that they don’t qualify for the benefit and don’t receive it, she said.
“It seems to me that the underlying purpose of this is to get their home address and things like that so you can aid in enforcement,” Van Tyle said.
Indiana Family and Social Services Administration Secretary Mitch Roob said the agency reviews citizenship data for those who apply for benefits like SNAP and Medicaid. Under the bill, FSSA will present the data to the legislative council, he said.
Indiana “spent no money on illegal immigrants” for benefits, Roob said. The state has paid for benefits for those legally in the country, he said.
Carolina Castoreno, with the Alliance for Latino Migrant Advocacy, said the bill turns Indiana police, jails and educational institutions into an extension of federal immigration enforcement.
The bill will erode public trust in law enforcement, which will lead to unsafe communities as victims and witnesses of crime don’t file reports for fear of being racially profiled or worse, Castoreno said.
Further, the bill encourages racial discrimination in the workplace as employers will hesitate to hire minority employees for fear of dealing with potential immigration status retribution, Castoreno said.
Lastly, Castoreno said she’s concerned with the attorney general’s office defending institutions sued for violating people’s rights.
“We should be strengthening accountability not shielding the state from the consequences of unconstitutional acts. Accountability is essential in government,” Castoreno said.
Nathan Roberts, a member of Save Heritage Indiana, said he doesn’t support the bill because it is “too lax.” Roberts said he would like to see an end to all “illegal mass migration” into the United States.
Roberts said illegal immigration negatively impacts taxpayer dollars through education, benefits and court system costs for illegal immigrants.
“You cannot call yourself a fiscal conservative if you do not take this issue seriously,” Roberts said.
Barbara Rosenberg, legislative director for Indiana State Police, said the agency appreciates the bill for its protection of law enforcement officers.
“The governor’s overall goal this session is to get a strong immigration bill in front of him at his desk that he can sign to support law enforcement and enhance the relationship between the federal government immigration (enforcement) as well as state agencies and other agencies across the state,” Rosenberg said.
Erin Tuttle, legislative director for the Attorney General’s Office, said the office opposes the bill. Tuttle encouraged the committee to take up the re-filed FAIRNESS Act.
The bill passed 6-2, with Democratic members Rodney Pol Jr., D-Chesterton, and Greg Taylor, D-Indianapolis, voting against it.
Senators Susan Glick, R-LaGrange, and Eric Koch, R-Bedford, said they support the bill but that it needs more work.
Pol said he couldn’t support the bill because it will put a strain on local police to become immigration enforcement officers.
“We have to let the sheriffs be the sheriffs. We have to let the local police be the local police. When we impose that duty on them, to enforce federal law, it really takes away from their ability to do what their original job was,” Pol said.
Brown blamed former President Joe Biden and his administration for an open border policy that “created an almost humanitarian crisis.”
“It’s becoming an issue, and it’s something that we need to address,” Brown said.
In response, Taylor said that under the Biden Administration a bipartisan immigration bill was shut down by then-presidential candidate Donald Trump so he could campaign on immigration.
After the committee vote, Rokita said the bill will “actively shield sanctuary jurisdictions” and undermines his office’s lawsuits to end sanctuary policies in Monroe and St. Joseph counties.
“We need to stop illegal immigration — not protect the counties and officials who defy state law and put Hoosier families last,” Rokita said.
Musk Reveals Life On “Hardcore Mode” As Serious Security Concerns Linger Amid Radical Left Threat
Musk Reveals Life On “Hardcore Mode” As Serious Security Concerns Linger Amid Radical Left Threat
Elon Musk said on the Katie Miller podcast that the current threat environment from radical left-wing activists remains too dangerous for him to appear in public, especially after the political assassination of Charlie Kirk.
Miller asked Musk:
“When’s the last time you did something extremely ordinary like go to Target or CVS?”
Musk responded:
“I can’t go to things where there’s the general public because I’m there, there’s an immediate, can I have a selfie line that forms, and these days, particularly in light of Charlie Kirk’s murder, there are serious security issues. It’s not that I don’t want to. I simply can’t.”
Miller then asked:
“Has Charlie’s murder changed how you do things or were you already locked down pretty well before that?”
Musk responded:
“It certainly reinforced the severity of the situation where life is on hardcore mode. You make one mistake, and you’re dead, and it only takes one mistake.”
Here’s the clip:
Musk is referring to what we view as a heightened threat environment stemming from Democratic-aligned NGOs and activist groups over his DOGE initiatives earlier this year.
The pressure campaign against Musk, driven by left-wing orgs, was followed by incidents in which radical militants firebombed Tesla vehicles at showrooms. At the same time, progressive lawmakers like Tim Walz publicly highlighted Tesla’s plummeting stock price.
This campaign of chaos against Musk was amplified by left-wing activist groups that assembled outside Tesla locations, who handed out signs to paid protesters that read Musk is a ‘fascist’ or ‘Nazi’… Remember, these groups have already projected …
However, this entire effort to bankrupt Tesla actually failed, as we pointed out on Tuesday (read report)…
As for the Trump administration, Deputy Chief of Staff for Policy and Homeland Security Advisor Stephen Miller has declared war on radical left-wing groups after Kirk’s assassination.
Even Deep State publication The Atlantic had to admit the obvious …
The broad view here: General Flynn Calls For National Address From Trump On Color Revolution Threat …
Tyler Durden
Wed, 12/10/2025 – 15:45
Nuevos contratos y recién nacidos van de la mano para Kyle Schwarber de los Filis
Por RONALD BLUM
ORLANDO, Florida, EE.UU. (AP) — Para Kyle Schwarber, sus nuevos contratos y los recién nacidos parecen ir de la mano.
Horas después de que Schwarber firmara un acuerdo de 79 millones de dólares por cuatro años para unirse a los Filis en marzo de 2022, su esposa, Paige, dio a luz al primer hijo de la pareja, Kade.
Esta semana, Schwarber alcanzó un acuerdo de 150 millones por cinco años para permanecer con los Filis, justo antes del esperado nacimiento de una hija.
“Fui capaz de ir rápidamente a Filadelfia ayer para hacerme todos los exámenes físicos y todo eso para volver aquí a Ohio y asegurarme de que no me metan en problemas o algo así si me pierdo el nacimiento de mi hija”, dijo Schwarber durante una conferencia de prensa por Zoom el miércoles.
“Esto es un poco un recuerdo de hace cuatro años cuando acordamos el contrato, pero ella realmente entró en trabajo de parto esa noche. Aquí estamos acercándonos. Podría suceder cualquier día, pero estoy feliz de que pudieron acomodar eso, llevarme allí, traerme de vuelta, así que ahora estaré aquí, asegurándome de que cuando nuestra pequeña llegue al mundo, estaré aquí”.
Su hija será la primera después de un par de hijos.
Schwarber, que cumplirá 33 años en marzo, estableció sus mejores marcas personales este año con 56 jonrone para comandar la Liga Nacional, y 132 carreras impulsadas, la cifra más alta de las Grandes Ligas, junto con un promedio de bateo de .240 y un OPS de .928. Anotó 111 carreras, la cifra más alta de su carrera, liderando el club a su segundo título consecutivo del Este de la Liga Nacional. Sus 23 jonrones contra lanzadores zurdos establecieron un récord de las Grandes Ligas para un bateador zurdo.
“No quiero conformarme con un gran año” dijo Schwarber. “Quiero jugar este juego por mucho tiempo y quiero seguir siendo grandioso y quiero seguir ayudando a los Filis, intentar ganar una Serie Mundial y múltiples Series Mundiales durante mi tiempo aquí”.
Schwarber se reunió con los Rojos de Cincinnati de su estado natal durante el proceso de agencia libre.
“Estaba impresionado”, dijo. “Paige y yo fuimos a Cincinnati y pudimos reunirnos, sentarnos y tener la conversación con ellos y escucharlos. Iban en serio y querían intentar llevarme a Cincinnati”.
El presidente de operaciones de béisbol de los Filis, Dave Dombrowski, hizo de mantener a Schwarber una prioridad.
“Ha sido un factor decisivo para nosotros desde el día en que llegó para ayudar a cambiar la cultura”, dijo Dombrowski. “No teníamos a nadie más en nuestro clubhouse cuando llegué que hubiera ganado un campeonato mundial”.
Schwarber fue seleccionado por los Cachorros con la cuarta elección en el draft amateur de 2014 y dos años después regresó justo para la Serie Mundial tras sufrir un desgarro del ligamento cruzado anterior izquierdo y ayudó a Chicago a ganar su primer título desde 1908.
Fue enviado a las menores por dos semanas en 2017 y fue dejado ir después de batear .181 en 2020. Firmó un contrato de 10 millones por un año con Washington.
“En la cima de la montaña, ganas una Serie Mundial, luego estás bateando 170. Estás en Triple-A el año siguiente. 2020, no renovado y luego más o menos capaz de volver y ser el jugador que sabes que podrías ser. Y luego llegas a los cuatro años en Filadelfia y realmente sientes que has encontrado tu ritmo y tienes la identidad de quién quería ser en las Grandes Ligas, ¿verdad? Y todavía hay cosas en las que mejorar”.
El 25 de junio, conectó un par de jonrones de dos carreras en una victoria 12-5 en casa de los Yankees de Nueva York el viernes por la noche. El primer batazo, su jonrón número 319 en su carrera, superó a Mark McGwire por la mayor cantidad de jonrones entre los primeros 1.000 hits de un jugador.
Su hit histórico fue atrapado por un fanático de los Filis que asistía con sus amigos en los asientos del jardín derecho-central del Yankee Stadium. Se reunió con el trío después del juego, les dio una pelota autografiada a cada uno y se intercambiaron abrazos. Cuando fue a buscar una tercera pelota para autografiar, uno de los tres dijo que solo quería que Schwarber volviera a firmar con los Filis.
“Resonar con una organización y resonar con una base de fanáticos es una gran parte de por qué lo haces”, dijo. “Quieres que la gente, quieres que los niños pequeños, quieres que cualquiera en un juego y al final del día mire hacia arriba y quieras que estén usando tu camiseta o que miren a su mamá y papá y digan: ‘Oye, quiero ser como Kyle’”.
___
Deportes AP: https://apnews.com/deportes
Wall Street Reacts To Powell’s “More Dovish Than Expected” Rate Cut
Wall Street Reacts To Powell’s “More Dovish Than Expected” Rate Cut
Consensus was expecting a hawkish rate cut, and while it got the cut, the hawkish elements – more dissenters, higher dots, a pushback by Powell during the presser – did not not materalize, and instead we have a low-grade revolt by the non-voters at the Fed (6 dots for unch today, only 2 dissents, more 3 dots expecting a rate hike in 2026), yet that will be promptly snuffed by whoever Trump picks to replace Powell next May.
In fact, one can say that today’s meeting was much more dovish than expected when accounting for the $40BN in T-Bill purchases coming in two days (just as we said would happen) which was a very contrarian call. And not only was this announced by a NY Fed implementation, but Powell decided to put that right in the statement, something that has not happened since the liquidity crunch after covid in early 2020.
With that in mind, let’s take a look at some kneejerk reactions from Wall Street traders and strategists:
David Mericle, Head of US Econ at Goldman Sachs:
“A lot of little hawkish elements, but largely in line. Now we need to see what Powell says for the full read”
25bp cut – still 1 cut in 2026 and 1 in 2027, as expected
Statement language changed to ‘in considering the extent and timing of additional adjustments’ as expected.
Schmidt and Goolsbee hawkish dissents (in line – plus Miran for a larger cut, so 3 total)
In the dot plot, have 6 hawkish dissents for next year – more than Goldman expected
Fed have also announced resumption of purchases to keep balance sheet steady – they put that right in the statement
Mike Cahill, Macro FX Research at Goldman:
This all looks very close to GS expectations, so will come down to Powell’s presentation in the press conference. I’m most interested in how he characterizes the debate on the Committee and risks to the labor market–what would it take for them to be ready to move again. Most notably to me in that context, they’ve kept their forecast for the Q4 unemployment rate average at 4.5%. That implies a much slower rate of increase than we’ve been seeing lately. The current rate is 4.44%, so this requires a little less than 5bp a month to meet the median. 7ppl expect it too move up to 4.6-4.7, which would be in line with the recent average. The GDP forecast for this year also implies they are penciling in a pretty big hit to growth in Q4 and a decent transfer into next year so a sizeable hit from the shutdown presumably. On net, I would characterize that labor market forecast as optimistic rather than obviously hawkish, but it will depend on how much weaker it would need to be to get the Committee to reconsider that “extent and timing” of additional easing. I expect Powell will convey that the hurdle is relatively high given the 6 soft dissents already, but will see whether he brings up some of those risks more than he did in October.
Anna Wong, Bloomberg Chief Economist:
“We assess the overall tone of the statement and updated projections as leaning dovish — though there are some hawkish undertones. On the dovish side, the committee sharply revised up the growth trajectory while lowering the inflation outlook, and kept the dot plot unchanged. The FOMC also announced the commencement of reserve-management purchases. On the other hand, there’s a signal in the policy statement that suggests the committee is inclined for an extended hold.
Even though the dot plot shows just one 25-bp cut in 2026 — markets are pricing two — our view is that the Fed will end up cutting by 100 bps next year. That’s because we anticipate weak payroll growth and currently see scant signs of an inflation resurgence in the first half of 2026.”
Ira Jersey, Bloomberg Rates Strategist
“What the Federal Reserve seems to have forgotten is that reserve balances are either ample, or not. If the Fed wants to maintain an ample supply of reserves, I’m still unsure why it isn’t considering temporary open-market operations around tax days and other periods when reserve balances tend to fall as the TGA rises. Doing permanent operations is more difficult to explain to market participants, and although we understand the need for slow increases on the asset side of the balance sheet — similar to, but larger than, pre-2007 operations — we think using traditional repos to calibrate reserve demand would be a good way to right-size asset purchases.”
Seema Shah, Principal Asset Management:
“With the recent scarcity of economic data and the wide dispersion in neutral rate estimates, it is hard to imagine any level of confidence in the economy that would lead to unanimous Fed voting. We expect the Fed to pause and assess the lagged effects of prior tightening. While some additional easing is likely in 2026, it will probably be marginal and contingent on greater confidence—and evidence—regarding the health of the US economy.”
Matthew Luzzetti, chief US economist at Deutsche Bank:
“I’d want to ask Chair Powell if the committee has already internalized some of the weakness expected in next week’s belated jobs data. I’d like to get confirmation from the chair today.”
Raphael Thuin, Tikehau Capital:
“With limited visibility on the data path, policymakers are forced to balance softening labor signals against the need to keep inflation moving lower. The result is greater policy uncertainty—likely a key driver of market volatility as we approach 2026.”
Jim Bianco, Bianco Research:
“A big issue is that the US will have a new Fed chair next year. And the new chair may be perceived as having a political agenda. That’s why I wanted to see more dissents to signal that they were ready, willing and able to be that political break. Maybe they will once we get that new Fed chairman but then that looks political that they didn’t take the chance to do it before the new guy came.”
Richard Flynn, Charles Schwab UK
“By acting pre-emptively, the Fed is signaling caution in the face of mounting downside risks, particularly as global growth remains sluggish and policy uncertainty persists. For investors, this is a measured adjustment rather than a dramatic pivot. While the cut could offer near-term support for risk assets, and potentially fuel a seasonal ‘Santa rally’, volatility is likely to remain elevated as markets assess the implications for future policy and the broader economic outlook.”
Source: Bloomberg
Tyler Durden
Wed, 12/10/2025 – 15:30
https://www.zerohedge.com/markets/wall-street-reacts-powells-more-dovish-expected-rate-cut
Cardenal denuncia retención de pasaporte y amenaza de detención en aeropuerto de Venezuela
Associated Press
CARACAS (AP) — El cardenal Baltazar Porras, un severo crítico del gobierno de Nicolás Maduro, denunció el miércoles que fue amenazado con ser detenido luego de que intentó fotografiar un documento en el que se formalizaba la retención de su pasaporte cuando se disponía a viajar a España.
El incidente ocurrió en el aeropuerto internacional Simón Bolívar, ubicado a unos 20 kilómetros al norte de Caracas, dijo Porras en un comunicado divulgado en su cuenta en la red social X.
En horas de la mañana, el oficial migratorio de turno se llevó su pasaporte y al rato regresó afirmando que el “pasaporte presentaba problemas y que ellos no podían hacer nada. Que subiera a Caracas a la oficina central del SAIME (Servicio Administrativo de Identificación, Migración y Extranjería de Venezuela) para averiguar. Pasada hora y media vino un soldado y me dijo que no podía viajar”, relató Porras, arzobispo emérito de Caracas.
Agregó que le hicieron firmar unos papeles en los que decía que por “incumplimiento de las normas para viajar” no podía tomar el avión. “Quise hacer una foto de dicho papel, pero no me lo permitieron. Si yo insistía en la foto, me amenazaron de quedar detenido”, agregó el prelado en su escrito, destacando que ya se encontraba en su casa.
Funcionarios del SAIME no respondieron de inmediato a una solicitud de comentarios.
Durante su mandato Maduro ha tenido frecuentes desencuentros con los jerarcas de la Iglesia católica venezolana, que en ocasiones ha acusado al mandatario de encabezar un gobierno cada vez más autoritario.
Tanto el fallecido expresidente Hugo Chávez (1999-2013) como Maduro han afirmado que los jerarcas católicos locales engañan al Vaticano con advertencias de que Venezuela se encamina hacia una dictadura.
El 26 de octubre la Conferencia Episcopal Venezolana se solidarizó con el cardenal Porras luego de que se le impidiera asistir a una misa en el estado andino de Trujillo por el natalicio de San José Gregorio Hernández, el médico venezolano canonizado por el papa León XIV días antes.
