Day Lila

Finance News · Sunday, 13 September 2026

01 Briefing what happened

Oracle's founder filed a plan to sell $7.5bn of his shares. One day later the company said the plan is cancelled and nothing was sold.

Finance News 32 sources

Larry Ellison, who founded Oracle and still controls more than 40% of it, dropped a plan to sell up to 50 million shares a day after it was disclosed. Oracle is raising $40bn this year to build data centres for AI companies, and gave no reason for the reversal.

$7.5bn

of Oracle shares Larry Ellison had planned to sell, and now will not

50 million shares; the plan was disclosed on Friday and cancelled on Saturday [3]

23%

fall in Oracle's share price so far this year

the company has taken on heavy debt to build data centres for AI customers [1]

$45bn to $50bn

Oracle said in February it would raise in 2026, in debt and new shares

a $20bn share sale was completed in the first quarter [2]

$664bn

of contracts Oracle has signed but not yet delivered

more than $30bn of AI cloud contracts were added last quarter [8]

The lead story — what happened

  • Oracle said on Saturday that Larry Ellison, its founder and chairman, has cancelled a plan to sell up to 50 million of his shares, worth about $7.5bn. [1][3]
  • The plan was set up on 22 June and would have run until 24 October. Oracle disclosed it in a regulatory filing on Friday and cancelled it the next day. [1][5]
  • Oracle's statement said no stock was sold under the plan and that Ellison has no other plans to sell any of his Oracle shares. It gave no reason. [6][1]
  • Ellison, 82, founded Oracle in 1977 and still controls more than 40% of it. [1][7]
  • Oracle sells business software and rents out computing power. It has borrowed heavily to build data centres for AI customers, and its shares are down about 23% this year. [1][5]
  • In February Oracle said it would raise $45bn to $50bn in 2026, in debt and new shares, to build capacity for customers including AMD, Meta, Nvidia, OpenAI, TikTok and xAI. [2][7]
  • It plans to raise $40bn in its current financial year. A $20bn share sale was completed in the first quarter. [2][7]
  • In Friday's filing Oracle also said restructuring costs, part of a plan that includes job cuts, will rise by about $700m. [2][7]
  • Oracle's shares rose as much as 7.8% on Friday after its order backlog grew by $26bn. They closed about 2% lower, at $150.28, after analysts said cash flow will take time to recover. [2][8]
  • Last quarter Oracle signed more than $30bn of new AI cloud contracts, taking its backlog of signed but undelivered work to $664bn. It kept its spending target at $90bn to $95bn. [8]
  • Ellison is also helping to fund his son David's company, Paramount Skydance, in its attempt to buy Warner Bros. Discovery. That deal is held up by a lawsuit from US state attorneys general. [1]

Who is involved

  • Larry Ellison

    Oracle's founder, chairman and chief technology officer, aged 82; he still controls more than 40% of the company and cancelled his sale plan

  • Oracle

    an American company that sells business software and rents computing power to AI firms; it is raising $45bn to $50bn this year to build data centres

  • AMD, Meta, Nvidia, OpenAI, TikTok and xAI

    the AI customers Oracle is building capacity for; their orders make up much of its $664bn backlog

  • David Ellison

    Larry Ellison's son and the chief executive of Paramount Skydance, whose bid for Warner Bros. Discovery his father is helping to fund

How it unfolded

  1. 22 Jun Ellison adopts a plan that would let him sell up to 50 million Oracle shares
  2. Fri 11 Sep a filing discloses the plan and $700m more in restructuring costs; the shares rise 7.8%, then close 2% lower
  3. Sat 12 Sep Oracle says the plan is cancelled, no shares were sold, and gives no reason
  4. 24 Oct the date the plan would have ended

Where this points

Watch whether Oracle ever says why the plan was dropped, and what Wednesday's US rate decision does to the cost of the $40bn it still means to raise this year.

What is pushing on the whole day

The bar and the word are our reading of how hard each one is pushing today. The arrow is where it is heading. The evidence is in the stories below.

Rate rises this week High

The market odds of a US rate rise on Wednesday reached 87%, up from 58% a week earlier. [11] The Bank of Japan, Japan's central bank, is expected to raise its rate on Friday to 1.25%, the highest since 1995. [9] The US government's ten-year borrowing rate touched 4.99% last week, the highest since 2023. [10]

Oil above $100 High

A projectile hit a ship in the Strait of Hormuz on Sunday, the UK's maritime trade agency said. [19] Saudi Arabia shut its East-West pipeline, which carries 4 to 5 million barrels a day, after a drone attack. [19] US wholesale prices rose 5.4% in the year to August, with oil and gas the reason. [22]

The yen climbing Building

The yen reached 152.89 to the dollar on 8 September, its strongest since February. [17] Speculators now hold a net bet in favour of the yen for the first time since February, US futures data showed on Friday. [18] Citi, a big US bank, has already closed one bet tied to the yen before Japan's rate meeting on 18 September. [16]

Paying for the AI build-out Building

Oracle plans to raise $40bn this year in debt and shares to build data centres. [7] There is a shortage of the turbine parts made by Berkshire Hathaway's Precision Castparts, which are also used in the gas turbines that power AI data centres. [28] Citi says investment linked to AI is holding up growth despite the energy shock. [15]

The rest of the day

11 more stories on this beat.

Each with its own sources. None of these is a link to the story above.

  1. 02

    Three central banks decide this week

    The US central bank meets on Tuesday and Wednesday. The market puts an 87% chance on a rate rise, up from 58% a week earlier, after Friday's inflation figure of 3.4%. [11] It would be the first US rise since 2023. [14] The Bank of England is not expected to raise on Thursday, but three of its officials voted for a rise in July. [9] The Bank of Japan will probably raise on Friday, to 1.25%, the highest since 1995. [9] Citi expects a US rise paired with softer forecasts for later. [12] Analysts told AFP that the credibility of Kevin Warsh, the US central bank's chair, is on the line. [13]

    Why it matters — A US rise makes a new mortgage or car loan dearer for Americans within weeks. A Japanese rise pays Japanese savers more at home, which is part of why the yen has been climbing.

  2. 03

    A ship is hit in Hormuz; Iran meets the Gulf on Monday

    The UK's maritime trade agency said a projectile struck a vessel passing through the Strait of Hormuz on Sunday. The damage and the state of the crew were not known. [19] The strait has been largely closed by the war for six months. [19] Saudi Arabia's East-West pipeline carries 4 to 5 million barrels a day to the Red Sea, about 4% to 5% of the world's oil. Saudi Arabia shut it after a drone attack that it and Iraq said came from Iraq. [19] Trump said on Saturday that Iran was probably behind the attack. [20] Iran meets the Gulf Arab states in Oman on Monday about the strait. An Iranian official played down any breakthrough. [19]

    Why it matters — Oil above $100 is the reason US wholesale prices rose 5.4% in a year, and the reason a rate rise is expected this week. [22] The Gulf ministers' meeting was first reported by the Financial Times on Friday. [24]

  3. 04

    Speculators bet on the yen for the first time since February

    US futures data released late on Friday showed speculators holding a net bet in favour of the yen for the first time since 24 February. [18] They held 10,796 contracts in favour in the week to 8 September. A week earlier they held 92,227 against, a swing of more than 100,000 in one week. [18] The yen reached 152.89 to the dollar on 8 September, its strongest since February. [17] It had fallen to 163.99 in July, a four-decade low, before Japan's and the US governments stepped in to buy it. [17] It has risen this month on expectations that the Bank of Japan will raise rates faster. [17]

    Why it matters — Japanese savers put money abroad for years because rates at home paid almost nothing. A rate of 1.25% on Friday would be Japan's highest since 1995, and money that went abroad for a return has a reason to come home. [9]

  4. 05

    Fuel prices are rising faster than crude

    Brent oil, the world benchmark, settled at $104.61 on Friday, down 2.8% on the day but sharply up on the week. [20] US crude topped $102 on Thursday, its highest close since May and about 50% above its summer low of $68.55. [21] Bloomberg reports that diesel, heating fuel and other refined fuels are under even more pressure than crude, and that central banks are now watching refining margins. [23] In the US, higher diesel costs have already shown up as added fees on online orders and parcels. [22] Rebecca Babin of CIBC Private Wealth said Chinese refiners ramping up could tighten the market further. [21]

    Why it matters — Bob McNally of Rapidan Energy, a consultancy, said the market's willingness to sell off on talk of peace is fading, after a US-Iran memorandum signed on 17 June collapsed. [21]

  5. 06

    Russia bought record fuel from India in August

    Russia, long one of the world's biggest exporters of refined fuel, imported a record amount of oil products in August. India supplied 70% of it, according to the Centre for Research on Energy and Clean Air, which tracks Russia's energy exports. [25] Ukrainian drone strikes have hit Russian refining capacity. Petrol made up 74% of Russia's oil-product imports, against an average of 6% between 2023 and 2025. [25] Russia's revenue from exported fuel products fell 32% to 78 million euros a day, the lowest since the invasion of Ukraine. [25] Its Urals crude still sold for an average of $69.90 a barrel, up 23%, well above the $44.10 cap set by the G7 and the EU. [25]

    Why it matters — India buys Russian crude, refines it, and now sells the petrol back to Russia. Russia was paid $69.90 a barrel for its crude in August, and the G7 cap is $44.10. [25]

  6. 07

    India's central bank pushes Tata Sons toward a listing

    Tata Sons is the private holding company at the top of the Tata group, India's biggest business group. In 2022 India's central bank classed it as an 'upper-layer' shadow lender, a company that lends like a bank without being one, because its balance sheet passed 1.5 trillion rupees ($15.7bn). [26] Such companies must list their shares within three years. [26] Tata Sons applied in 2024 to give up its lending licence and cleared its debts to avoid that. [26] New rules from 1 July cover any holding company whose group companies borrow from the public, as Tata Capital does. [26] The latest letter from the regulator makes it harder still to hold out. [26]

    Why it matters — A listing would open the accounts of India's largest business group to outside shareholders, and could limit its freedom to move cash from its profitable businesses into newer, loss-making ones. [26]

  7. 08

    Canada asks to be an 'associate member' of the EU

    Mark Carney, Canada's prime minister, has told his special envoy to Europe to scope out the closest ties possible short of full membership of the EU or its single market. The Wall Street Journal reported it at the weekend. [27] For months Carney has held private talks with almost every major European leader on plugging Canada, a country of 41 million people, more deeply into the 27-nation club. [27] The push began soon after Canada and the US fell into the worst trade war in their modern history. [27] Carney has told aides it means reorienting an economy the US has dominated for half a century. [27]

    Why it matters — European leaders have half-jokingly started calling Canada the EU's newest member. A threat from the US president to make Canada the 51st state is pushing it toward Europe instead. [27]

  8. 09

    Buffett's $37bn purchase is now valued at $100bn

    GE Aerospace, the jet-engine maker, agreed this week to pay $11.75bn for Consolidated Precision Products. It is one of the few rivals to Precision Castparts, which Warren Buffett's Berkshire Hathaway bought for $37.2bn in 2016. [28] Barron's calls that price high. Using the same multiple, it estimates Precision Castparts is worth about $100bn, nearly three times what Berkshire paid. [28] Six years ago Berkshire wrote $11bn off the purchase, and Buffett wrote that he had paid too much. [28] There is now a shortage of the complex metal parts the company makes for engine turbine blades. The same parts go into the gas turbines that power AI data centres. [28]

    Why it matters — A price paid for one company puts a new value on its rival, which was never sold. The parts shortage is where the AI data-centre boom meets the aircraft industry. [28]

  9. 10

    Robots take on America's housing shortage

    The United States is short about 1.2 million homes, according to the National Association of Home Builders, the industry's trade body. Nearly 300,000 construction jobs were unfilled at the end of 2025, and the industry needs about 740,000 new workers a year. [29] Labour shortages cost builders about $11bn a year and add about two months to a build. [29] The gains so far are in factories, not on building sites. At one factory of Sekisui Heim, a Japanese housebuilder, robots lifted output from 55 homes a day to 65 with 20 fewer operators. The company expects the machines to pay for themselves in about three years. [29]

    Why it matters — Fewer workers per house is the only way the numbers close. The cost of a shortage of plumbers and electricians lands on the price of a new home. [29]

  10. 11

    The Netherlands moves 86 tons of gold out of the US

    The Dutch central bank moved 86 tons of gold out of the United States and Canada last week, calling the move protection against 'extreme systemic risks'. [30] France has already moved all of its gold out of New York, and Germany has debated doing the same. [30] Polls in ten countries found majorities in only two, Hungary and Poland, still see the US as a reliable partner. [30] Axios notes the dollar's dominance remains unthreatened and the US is still the top destination for foreign students. [30]

    Why it matters — Germany, Italy and Spain now face renewed pushes at home over whether to keep their gold in the US. [30]

  11. 12

    Sweden votes with the economy growing and the far right in reach

    Sweden votes on Sunday in a parliamentary election. Polls this week gave the centre-left opposition a narrow lead over the ruling right-wing bloc, pointing to a likely change of government. [32] Sweden's economy is growing faster than most of Europe, its companies Volvo, IKEA and Spotify remain global powerhouses, and it has produced more billionaires than almost any country its size. [31] Gun violence has fallen after years of rising. [31] If the right wins, it has promised for the first time to give the far right a share of power. [31]

    Why it matters — Voters in a rich economy in good shape are still on course to change government, because the issues that matter to them have shifted away from migration. [31]

02 Lesson why it matters

Why investors watch the founder's own money

Larry Ellison knows more about Oracle than any outsider, so a filing that he might sell $7.5bn of his own shares is read as a clue to what he knows.

The twist

A statement from a company costs it nothing, so investors weigh it lightly. A founder selling his own shares loses money if the shares rise afterwards, so investors weigh it heavily.

How it works

  1. An insider knows the company's real state before anyone outside it
  2. When he sells, he gives up any gain if the shares rise, so the sale is believed
  3. A statement costs the company nothing, so investors weigh it lightly
  4. Investors read the insider's action and move their own money
  5. Cancelling the sale takes the clue back, whatever the reason for it was

The same force, elsewhere today

Where this chain is also running, in today's other stories.

  • Speculators betting on the yen

    The Friday futures data counts money actually placed, not opinions given, which is why one week's swing of 100,000 contracts is read as a change of mind about Japan's rates

  • Trump saying oil will come tumbling down

    Words with no oil behind them: Bob McNally of Rapidan says the market's willingness to sell on talk of peace is fading, after the June memorandum with Iran fell through

  • The Netherlands moving 86 tons of gold

    Shipping bullion out of New York is costly and slow, so it is read as a judgment on the US in a way that a speech about alliances never would be

  • GE Aerospace paying $11.75bn for a parts maker

    A real price paid by a buyer with its own money is what Barron's uses to put a value of $100bn on Berkshire's rival unit, which Berkshire has not sold

Where you've seen this

Used cars

a seller who offers a warranty pays if the car is bad, so the warranty is believed and the sales patter is not

Job offers

a candidate who resigns to take your offer has given something up, which a reference letter never does

Poker

the size of the bet carries the information; the talk across the table carries almost none

Diplomacy

troops moved to a border are read more carefully than a statement read by a spokesman

The catch

An insider sells for many reasons that say nothing about the company: a tax bill, a divorce, a son's film studio to fund. Oracle has not said which this was, so the signal is loud and often wrong.

And the whole of it

Nobody in this story sees the whole of it. Investors watch Ellison because he sees more of Oracle than they do. Ellison sees Oracle's orders, but not whether the AI those orders serve will ever pay for itself. A person whose pension fund owns Oracle shares sees only the filing, and sees it last.

03 Truth what's really going on

What is really going on

Oracle needs to raise $45bn to $50bn this year to build data centres for AI companies, and its founder's plan to sell $7.5bn of his own shares lasted one day in public. [7] Oracle says no shares were sold and gives no reason for the cancellation. [6][1] Around it, the money week is three central banks: the US is expected to raise rates on Wednesday for the first time since 2023 and Japan on Friday, while a ship was hit in the Strait of Hormuz on Sunday with oil already above $100. [11][14][9][19]

Why it works on us — One named man selling reads as a verdict on the whole company, so a filing about $7.5bn of his shares carried more feeling than the $40bn Oracle plans to raise from strangers this year.

Who gains

  • Oracle's AI customers, including AMD, Meta, Nvidia, OpenAI, TikTok and xAI — Oracle is borrowing and selling shares to build the data-centre capacity they will use; the $664bn backlog is largely their orders. [7][8]
  • Indian refiners — They buy Russian crude, refine it and sold Russia a record amount of fuel in August, 70% of everything it imported. [25]
  • Russia's treasury — Its Urals crude fetched an average of $69.90 a barrel in August, up 23% and well above the $44.10 cap set by the G7 and the EU. [25]
  • People living on bond income — The US ten-year rate approached 5%, up from 4.2% at the start of the year; one analyst quoted by Morningstar calls that 'a great thing' for income investors. [14]
  • Berkshire Hathaway — GE Aerospace's $11.75bn price for a rival lets Barron's value Precision Castparts at about $100bn, nearly three times what Buffett paid. [28]
  • Kawasaki Robotics and the housebuilders using its machines — Sekisui Heim's factory went from 55 homes a day to 65 with 20 fewer operators, and expects the robots to pay for themselves in about three years. [29]

Who pays

  • Oracle's staff — Friday's filing raised the cost of a restructuring plan that includes job cuts by about $700m. [2]
  • Anyone taking out a new US mortgage — The ten-year rate that mortgage prices follow touched 4.99% last week, the highest since 2023. [10][14]
  • US households buying online — Higher diesel costs have already appeared as added fees on online orders and parcels, and wholesale prices rose 5.4% in a year. [22]
  • Buyers of new American homes — Labour shortages cost builders about $11bn a year and add about two months to a build. That cost lands on whoever buys the finished home. [29]
  • The crew of the ship hit on Sunday — A projectile struck their vessel in the Strait of Hormuz and their condition was not known. [19]
  • Russia's fuel exporters — Revenue from exported oil products fell 32% to 78 million euros a day, the lowest since the invasion of Ukraine. [25]

What nobody knows yet

Open questions from across today’s stories — ours included.

  • 01

    Why Ellison cancelled the sale plan.

    Oracle's statement said no shares were sold and that he has no other plans to sell, and gave no reason. CNBC reports few other details were given. [6][1]

  • 02

    Whether the US central bank raises on Wednesday, and what its new forecasts say.

    The market odds are 87%, not 100%, and this is a meeting where officials publish their forecasts for the path of rates, which can matter more than the decision itself. [11][10]

  • 03

    Who attacked the Saudi pipeline.

    Trump said on Saturday that Iran was probably responsible. Saudi Arabia and Iraq said the drones came from Iraq, where Iran-backed militias operate. [20][19]

  • 04

    What happened to the ship hit in the Strait of Hormuz on Sunday.

    The UK's maritime trade agency said the extent of the damage and the condition of the crew were not immediately known. [19]

  • 05

    Whether the Bank of Japan raises to 1.25% on Friday.

    Bloomberg's week-ahead calls it probable, not certain, and Citi has already closed one yen bet ahead of the meeting. [9][16]

  • 06

    Whether Tata Sons lists its shares or keeps resisting.

    It gave up its lending licence and cleared its debts in 2024 to avoid a listing, and the regulator has now widened the rules again. [26]

  • 07

    Whether Germany, Italy and Spain follow the Netherlands in moving gold out of the US.

    Axios reports renewed pushes at home in all three, and no decision. [30]

  • 08

    How long India's record fuel sales to Russia last.

    India's own imports of Russian crude fell 24% in August from July after two record months. [25]

  • 09

    When Oracle's cash flow recovers.

    Analysts said on Friday that a recovery remains some way off, even after a $26bn rise in the backlog. [2]

04 Hope carry this

Iran and the Gulf Arab states meet in Oman on Monday to talk about the Strait of Hormuz, and a proposed arrangement for ships passing through it is expected to be put on the table.

Also true today

  • Gun violence in Sweden has fallen after years of rising, and the country's economy is growing faster than most of Europe.
  • At one of Sekisui Heim's factories in Japan, robots lifted output from 55 homes a day to 65, and the company expects the machines to pay for themselves in about three years.

Across the beats