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On October 29th, Microsoft (MSFT.O) projected that its Azure cloud business would accelerate further in the second fiscal quarter, following its faster growth and exceeding the companys own guidance in the first fiscal quarter. At constant currency, Azure revenue is expected to grow 49% to 50% in the second fiscal quarter, compared to 48% growth in the first quarter. Microsoft expects total revenue for the second fiscal quarter to reach $96 billion to $97.1 billion, with revenue from the Intelligent Agents and Infrastructure segment reaching $80.1 billion to $80.7 billion, and revenue from the Devices and Consumer segment, which includes Azure and Microsoft 365, reaching $15.9 billion to $16.4 billion. Analysts surveyed by FactSet currently expect Microsofts second fiscal quarter revenue to be $95.63 billion. Microsoft also expects capital expenditures to exceed $50 billion in the second fiscal quarter, highlighting the substantial costs required to expand its artificial intelligence infrastructure.Microsoft (MSFT.O) CFO: Azure business growth is expected to be 49% to 50% in the second fiscal quarter at constant currency.October 29th - According to a report on the UK government website on the 28th, Chancellor of the Exchequer John Healy announced in the House of Commons that the UK would provide an additional £10 billion (approximately 8.9 yuan per pound) in economic and military aid to Ukraine. Healy said the aid would include loans, export financing guarantees, and £500 million in emergency military funding for this winter. Healy and Prime Minister Burnham had informed Ukrainian President Zelensky of the commitment to additional aid earlier that day. Including this aid, the UK has committed a total of £35 billion in support to Ukraine, of which £16 billion is military aid.Nasdaq futures fell nearly 1%, dragged down by Googles (GOOG.O) after-hours decline.Microsoft (MSFT.O) CFO: We will seek additional funding channels when we deem the conditions appropriate.

Washington Governor Legislates Uber and Lyft Driver Compensation

Charlie Brooks

Apr 01, 2022 09:57

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Drivers will receive a minimum of $1.17 per mile and 34 cents per minute, with a minimum salary of $3.00 each trip.


Drivers will also have access to paid sick time, family medical leave, and long-term care programs, as well as workers' compensation, a government-mandated program that compensates employees who are injured or ill on the job in the United States. Drivers will also have the option to dispute their removal from the applications.


In Seattle, which adopted its own ride-hailing pay guideline in September 2020, drivers will continue to receive a minimum of $1.38 per mile and 59 cents per minute, for a total of at least $5.17 every trip.


The measure, which was backed by Uber and Lyft, eliminates local regulatory authority by prohibiting cities and counties from imposing extra restrictions on businesses.


Additionally, the rule stipulates that ride-hailing drivers are not considered workers, a point of contention for certain labor organizations and gig economy businesses such as Uber and Lyft. The gig economy's employers, who employ independent contractors, oppose any reclassification, while some labor organizations contend that drivers should be classified as employees with enhanced benefits.


"This new legislation provides drivers what they want - the ability to maintain their independence while obtaining unprecedented new perks and protections," Ramona Prieto, Uber's director of public policy in the Western United States, said in a statement. Uber anticipated the rule will be copied in more cities, states, and nations, she said.


"Drivers won this victory because labor groups, politicians, and app-based firms listened to them and then collaborated to pass a historic bill that benefits them," Jen Hensley, Lyft's director of government relations, said in a statement.


The Teamsters union Local 117, which also pushed for the Seattle wage norm, backed the new Washington legislation.


Prior to this regulation, only Seattle and New York City had established minimum wage guidelines for ride-hailing drivers in the United States.