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Snowflake Brought Nearly $ 4 Billion To Kick Off Big IPO Week

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This is the most crowded trade ever, fund managers say

Snowflake Inc. has had a hot start to the busiest week for IPOs in over a year.

Snowflake SNOW,
+ 2.05%
estimated its IPO at $ 120 a share on Tuesday night, which means it will raise at least $ 3.86 billion from the IPO and probably over $ 4 billion. The company will sell 28 million shares to raise $ 3.36 billion, and Berkshire Hathaway Inc. BRK.A,
-0.27%

BRK.B,
-0.45%
and Salesforce.com Inc. CRM,
+ 2.04%
agreed to simultaneously purchase shares for $ 250 million at the IPO price. The underwriters, led by Goldman Sachs and Morgan Stanley, have access to an additional 4.2 million shares, which could increase the total equity raised to about $ 4.4 billion.

Based on the price increases during the IPO, there is demand for these additional shares. After originally applied for an IPO less than a month ago, Snowflake announced an expected price range of $ 75 to $ 85 promotion last week. On Monday, the San Mateo, California software company dramatically increased this range to $ 100-110 per share, then on Tuesday evening the price was above this target. Renaissance Capital announced this week that it will be the largest software IPO ever based on a higher price range.

See also: Five things to know about Snowflake IPO

Snowflake makes database software that runs in the cloud, offering the necessary piece of technology infrastructure in new ways. The proposal drew enough enthusiasm to attract investment from Berkshire, whose legendary CEO Warren Buffett has been known to shy away from young tech companies and IPOs for decades. In addition to the $ 250 million investment, Berkshire is buying over 4 million shares at an IPO price from former Snowflake CEO Robert Muglia.

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At the IPO price, Snowflake is initially valued at $ 33.3 billion just eight years after registration. The shares are expected to start trading on Wednesday morning on the New York Stock Exchange.

Snowflake is one of a dozen companies expected to go public this week, making it the busiest week for an IPO since Uber Technologies Inc. UBER,
-1.26%
according to Renaissance, in May 2019. JFrog Ltd. FROG, m.
,
Another software company was also scheduled to announce the price of its IPO on Tuesday.

For more: IPO Market Becomes Busiest Since May 2019

Two other software companies, Unity Software Inc. U,
+ 0.46%
and Sumo Logic SUMO,
,
the IPO is expected to be priced later this week. Other offerings among the expected dozen include packaging company Pactiv Evergreen PTVE.

and telemedicine company American Well Corp. AMWL,
,
known as AmWell.

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Politics

An open letter to a pastor-politician – Co-authors

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An open letter to a pastor-politician - Co-authors

My dear pastor, I will probably vote for you, and not for your struggle for faith, because I adhere to a different theology, because we respect our unusual beliefs, but I will vote for you, for your social cosmic vision, solidarity and beneficial influence on people who, in my opinion, are inalienable qualities of any politician, and in this we have common interests.

However, I regret that you registered as a “pastor” in the Electoral Justice for your candidacy, because I do not vote for the pastor of the church, I vote for the politics of the society and when you use the name of the profession, nothing depends on faith, it is different from those shepherds who usurp the confessional electorate, in the manner of modern colonels and their bridle oaths.

The current candidates for the pastor of the church often gain votes among their co-religionists and sometimes swearingly promise the blessings of the church and its ministers, and sometimes even call themselves candidates of God, daring to use the name of God. as if God chose him over others, because all his children and he has no formal preferences, he will only prefer those who do good.

Calling him by the name of Peter, John, James in no way detracts from him, on the contrary, his image was built as the cornerstone of the church, which welcomed and helped people of any race, religion, like a Samaritan on the way.

If you were a “political pastor” you would not run for elections because you know that the pastor is also involved in politics to build a more just society, however, since you are a “political pastor” you should refrain from using a religious nickname. aiming at the ballot box, which, by the way, is growing every day according to the Supreme Electoral Court, so as not to confuse the divine service with the ordinary electoral, and there are those who use conscience, who say that they are the mediators of God’s work in politics, but God has not given them power of attorney and does not need representatives for this, he prefers good people in politics, even if they are atheists.

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Rogerio Silva University Professor, Ph.D. in Law and Constitutional Order (UFC). Author of the book Politics and Faith.


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Political party and Supreme play against tax cuts

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Political party and Supreme play against tax cuts

Brazilian industry shook up Minister Alexandre de Moraes. This is due to the fact that a presidential decree was issued to reduce FDI by 25% for a large list of goods. The political party filed a complaint with the Supreme Court, saying it would harm the Manaus Free Trade Zone. The case fell into the hands of Alexandre de Moraes, who issued an injunction suspending the decree.

The President of the Republic and Minister Paulo Guedes then removed products from the industry that were competitors or similar, leaving only those that did not compete with the Manaus Free Trade Zone. The decrease in IPI will be 35%. The same party appealed to the STF again, Alexandre de Moraes issued another injunction and canceled the decree again.

Now the National Confederation of Industry has received the signatures of all the federations of industry in the country, except, of course, the federations of Amazonas, as well as the federations of Amapa. They argue that Moraes’ decision creates uncertainty and impedes lower consumer prices, making it difficult for the economy to recover. The party that went to the STF against the decrees is Solidarity, it’s good that we know this. Solidarity may even defend the free trade zone in Manaus, but it does not advocate lower food prices for the rest of the country.

Alexandre de Moraes takes office as President of TSE

This Tuesday, at 19:00, at the headquarters of the TSE – a wonderful palace, I will show you a photo; it’s too luxurious, too big for something that organizes elections every two years, but still… – Boloznaro, Lula and Alexandre de Moraes are going to meet. And with them Dilma and Temer, since the former presidents were already invited; I assume that Fernando Enrique Cardoso was also invited, but I don’t know if he will come. The Presidents of the House, Senate, Supreme Court and other higher courts will still be present.

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All of them will pass into the possession of Alexandre de Moraes, who will replace Edson Fachin at the head of the electoral justice; Finally, Fashin leaves, and now he is just in the Supreme Court. The ceremony gives a measure of the responsibility of the new TSE President. This is one of the most important elections in the history of this country. And Moraes should know very well what history records and does not forgive. They are all busy making the verification process safer for everyone to understand. Even the Armed Forces are helping – and it must be admitted that this was at the request of the most selective justice system.

Thursday ends deadline for those wishing to vote outside their electoral residence

Speaking of this, we must remember that we must all vote. There is an age when voting becomes optional, from 16 to 18 and then from 70, but we all go to vote. And anyone who is outside their electoral residence can vote too. But you have to ask, register with the electoral court, that you will vote in transit. Deadline expires: You must be on the electoral roll by Thursday 18. When voting en route, anyone in another state votes for President only; anyone in the same state will be able to vote normally, as well as governor, deputies, and senator. But let’s follow the deadline!

Content edited by: Marcio Antonio Campos

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The resolution approves an addition to the political and pedagogical project EJA – Jornal do Oeste

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The resolution approves an addition to the political and pedagogical project EJA - Jornal do Oeste

The Minister of Education published in the Official Gazette last Thursday (11) Resolution Smed no. The document refers to the Municipal Operational Instructions for the EJA in relation to its maintenance.

Article 1 of the document mentions that the Municipal Operational Guidelines for Phase 1 of the EJA should be consistent with the Operational Guidelines for the EJA established by the National Board of Education, in aspects related to their alignment with the National Common Curriculum Base (BNCC), with the National Literacy Program (PNA) , course duration and minimum age for entry.

They must also comply with the course registration form, the minimum age and EJA certification, the proposal with a focus on continuing education and training and the flexibility of the proposal in a way that is compatible with reality and course structure.

The paper explains that Phase 1, corresponding to the early years of primary education, will be offered in person, without matching professional qualifications, including only basic training, with a total workload of 1,500 hours spread over a minimum of two academic years and half organized every six months. duration of 100 days of effective school work.

Phase 1 is organized on a semester basis, in stages, with flexible time to complete the required workload, and for each stage there is a correspondence to the elementary nine-year elementary school years and specific workload. For the primary grades of elementary school, the application specifies that the workload will be at least 150 hours for learning the basic components of literacy and 150 hours for teaching basic math concepts.

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SERVICES – EJA Phase 1 students will be provided with the following services: EJA Directed, EJA Multiphase and EJA Vinculada. The EJA Directed document explains that this is an alternative to serving a working student at any stage of the modality who, for various reasons, has difficulty participating in activities at the beginning or end of the academic shift.

For these students, the system must develop the activities previously planned by the teachers in order to complete the workload provided for the learning component. The feasibility of the activities and the scope of work will be carried out only after the completion of the planned activities.

According to the document, a multi-stage JAO can be organized in cases where the number of students does not correspond to that established by the education system and / or when the physical or specific structure of the service does not support the composition of the classes by steps.

In this case, the municipal education system will be able to organize a multi-stage ERA to increase the attendance of full-time ERA, in situations and low demand that make it impossible to implement a modality change; difficulties with student mobility, for example, when studying rural subjects; street population, specific communities, refugees and migrants from literacy programs in hard-to-reach places, on the periphery, etc.

In turn, the term EJA Linked is equivalent to decentralized EJA, used to refer to EJA Phase 1 course classes that are located in other educational spaces, preferably in their own school units, also called welcome units, located outside of an authorized work school. . . .

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