"That's my view. They'll cut preemptively in June. That is to say Wednesday," says the Grant's Interest Rate Observer newsletter editor.Economyread more
It's about time to write off high-growth tech stocks, Goldman Sachs warned, saying the double whammy of sky-high valuation and elevated regulation is becoming a "hazard" to...Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
Sotheby's announced Monday that it's signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Ross played down the prospect of an agreement being reached at the G-20 meeting in Osaka on June 28-29.Paris Airshowread more
Boeing said the airline industry will need 44,040 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Google CEO Sundar Pichai said in a CNN interview that while the company will work to remove as much harmful content as possible, the company can't remove 100% of it.Technologyread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
The pizza chain's robo delivery program could add to store owners' options during peak times.Restaurantsread more
Amazon responded this morning to Democratic Congresswoman Alexandria Ocasio-Cortez's claim that it pays warehouse workers "starvation wages" in a tweet that says it pays...Technologyread more
The Fed is not likely to make a move on interest rates when it meets this week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
"You will see us accelerate the growth even faster than we have to date," Kurian said at the Goldman Sachs Technology and Internet Conference in San Francisco. Previously, he said, Google nearly quadrupled its sales and distribution functions.
"We are hiring some of the best talent from around the industry to grow our sales organization, and you will see us competing much more aggressively as we go forward," said Kurian, who in September left Oracle as its president of product development and in November was named as the new Google Cloud CEO to replace Diane Greene.
At Oracle Kurian was in charge of a 35,000-person team focused on software development across 32 countries, according to his LinkedIn profile. Now he's in charge of Google's overall cloud business, including the Google Cloud Platform public cloud and the G Suite productivity apps for business.
At the conference, Kurian highlighted several products and pointed to several Google cloud customers using those products, including BNP Paribas, the city of Los Angeles, Home Depot, KeyBank and Telegraph Media Group.
Now the company will focus more on individual industries like financial services and work more with channel partners, Kurian said. The company is also introducing a Cloud For Life program to keep existing customers and bring in new ones.
"I talked to some of largest companies and said, 'Why did you choose Google?' And uniformly, the feedback I got is, 'By far the best technology in the market, the technology is amazing, I've never seen anything like it.' This is what I heard over and over again," Kurian said.
It's not clear how much revenue comes from each half.
"In terms of growth, cloud does continue to deliver sizable revenue growth, driven by GCP; and GCP does remain one of the fastest growing businesses across Alphabet," Alphabet's chief financial officer, Ruth Porat, said on the company's fourth-quarter earnings call. "We've doubled the number of GCP contracts greater than $1 million. We're also seeing early nice uptick in the number of deals that are greater than $100 million and really pleased with the success and penetration there."
But unlike market leader Amazon, Google hasn't specified exactly how much revenue it gets each quarter -- just that it gets more than $1 billion per quarter, between the public cloud and the cloud apps, combined. Amazon's cloud revenue was $7.43 billion last quarter, the company reported.
In a question-and-answer session, one person asked for a financial update, and Kurian declined to elaborate. He said that Porat and Google CEO Sundar Pichai will disclose more "if they choose to."