Vista, Blackstone buying software maker Smartsheet for about $8.4 billion
Former Treasury Secretary Steven Mnuchin and Contrast Securities CEO Alan Naumann, who have founded a new private equity firm, Liberty Strategic Capital, are discussing the agreement. Acquired by private equity firms Vista Equity Partners and Blackstone Software Maker Acquired Smartsheet for approximately $8.4 billion in cash. Vista and Blackstone announced Tuesday that they would pay […]
U.S. Commerce Department Proposes Banning Chinese And Russia-Made Software In Cars
U.S. Secretary of Commerce Gina M. Raimondo speaks onstage during the first day of the Democratic National Convention at the United Center in Chicago, Illinois, August 19, 2024. (Photo by Alex Wong/Getty Images) OAN Staff Avril ElfiMonday, September 23, 2024 1:29 PM The US Commerce Department has proposed banning Chinese- and Russian-made hardware and software […]
EU threatens Apple if it doesn’t open up iOS software to rivals
European Union antitrust regulators warned Apple on Thursday that it could face heavy fines if it doesn't open up its closely guarded software to rivals. The European Commission has launched a so-called specification procedure to specify what Apple must do to comply with the Digital Markets Act (DMA), a tough new law aimed at preventing […]
Stellantis Recalls 1.5 Million Ram Pickups to Fix Software Problem
Automaker Stellantis is recalling more than one million Ram pickups due to an issue related to the electronic stability control (ESC). The recall affects about 1.5 million trucks that are at risk of developing a software issue that could disable the ESC, Fox Business Reported Saturday. The recalled vehicles are primarily produced in North America […]
Over one million Ram pickup trucks recalled due to software issue
Automaker Stellantis is recalling about 1.5 million Ram pickup trucks due to a software issue that could disable the vehicle's electronic stability control (ESC). In a statement seen by Reuters on Saturday, Stellantis said anti-lock braking software in affected pickup trucks could mistakenly shut down the vehicle's ESC, a system designed to control the vehicle's […]
DOJ sues software firm, alleging pricing algorithm enables landlords to raise rents
The Department of Justice (DOJ) sued property management software company RealPage on Friday, alleging that the company’s pricing algorithms allow landlords to share sensitive pricing information and increase rents. The lawsuit, joined by attorneys general from North Carolina, California, Colorado, Connecticut, Minnesota, Oregon, Tennessee and Washington, alleges that RealPage violated antitrust laws by restricting competition […]
GM slashing over 1K salaried jobs at software, service units
General Motors said Monday it was laying off more than 1,000 full-time employees across its software and services divisions around the world. GM confirmed the job cuts, first reported by CNBC, in a statement saying, “As we build GM’s future, we need to simplify for speed and excellence, make bold choices and prioritize investments that […]
GM conducting layoffs in software and services division
See what’s clicking on FoxBusiness.com. General Motors is laying off employees in its software and services division. The layoffs will affect 600 workers in Warren, Michigan, where GM has its global technical center. GM did not disclose the total number of employees affected by the cuts. The layoffs affect 600 employees in Warren, Michigan, where […]
US expected to propose barring Chinese software in autonomous vehicles
WASHINGTON — The U.S. Commerce Department is expected to propose a ban on the use of Chinese software in self-driving and connected cars in the coming weeks, according to people familiar with the matter. The Biden administration is expected to issue proposed rules to ban Chinese software from being used in Level 3 or above […]
GM, Ford may see profit hit amid cooling EV demand, US dealer software problems
Ryan Payne, President of Payne Capital Management, appeared on “Mornings with Maria” to explain the latest data on the auto industry. General Motors Co and Ford Co could report lower profits in quarterly results this week as the industry’s big bet on electric vehicles fails to pay off and a cyberattack on a critical computer […]