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Dell becomes publicly traded again December 28

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Dell Technologies will become a public company again December 28.

The company said it received shareholder approval to buy back a tracking stock that’s linked to its stake in VMware.

In a nutshell, Dell will close the deal December 28 and its C shares will trade on the New York Stock Exchange under the DELL ticker.

Also: Dell XPS laptop: An amazing piece of hardware TechRepublic | This Dell Inspiron 15.6-inch laptop is a steal at $399.99 CNET

Dell’s buyout plan had its controversy as Carl Icahn opposed the deal, the company sweetened its offer and Icahn dropped a proxy fight.

CEO Michael Dell said going public will simplify the company’s capital structure and help it deliver on its long-term vision to be at the core of digital transformation.

In 2016, Dell cited that same long-term vision when his company went private and acquired EMC. Dell said his company can think in decades as a private company without the hassle of quarterly earnings reports.

Flashback: Dell Technologies lifts off: Here’s what to watch as Dell, EMC, a bevy of enterprise businesses combine | Michael Dell on closing EMC deal: ‘We can think in decades’

Overall, Dell has performed well as a private company, paid down its core debt and fared well with its PC and data center businesses.

However, tax law changes meant that Dell couldn’t write off the interest on its debt and that reality could have hampered the company.

Related stories:

  • Dell Q3 revenue surges as servers, networking show strength
  • Dell Technologies aims modular data center at AI, machine learning
  • Dell EMC launches new Ready Solutions to speed up AI innovation

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Tesla Set To Deliver The First Semi To Pepsi

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In October, Tesla’s CEO revealed that the production of the Tesla Semi had begun, and it was bound to be delivered today. Tesla has already started the countdown, and we expect the unveiling event to go down at the Nevada factory. The electric truck will be dispatched to Pepsi, which had ordered 100 units. Investor reports that Tesla’s stock price increased by 7.7% on Wednesday, probably in anticipation of Tesla’s Semi first delivery.

Musk tweeted on Saturday that the “Tesla team just completed a 500-mile drive with a Tesla Semi weighing in at 81,000 lbs!” However, considering that Musk said that the company is dealing with supply chain issues and market inflation, it’s unclear if Tesla will stick to the original $180,000 price it intended to sell at when it was announced in 2017. Then again, Tesla offers a cheaper Semi that will be available for about $150,000 — but it can only achieve up to 300 miles at full load capacity. For now, we can only wait until it’s on the road to confirm if the specs match up to what was promised five years ago.  

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Coinbase Joins Elon Musk In Slamming The Apple App Store Tax

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Coinbase complained that Apple’s insistence on its cut unreasonably interfered with its business.

Coinbase’s argument was largely the same as Elon Musk’s, and the basis of Epic Games’ aforementioned lawsuit. According to all of the above, Apple was half of a duopoly: with Google, it controlled the global app marketplace. The “duopoly” part of the argument is pretty much incontrovertible: As of October 2022, both Apple and Google control 99.43% of the global smartphone market between them (via StatCounter). Both get a 30% cut of everyone’s action on its marketplace. From the perspective of Coinbase, that took too much money out of too many elements of its business.

Epic sued over that and, as noted above, won with an asterisk. Apple had restricted in-app purchases, and courts found that anticompetitive, but did require that Apple get a 30% cut of the profits, even though they took place in someone else’s app. In short, according to the Verge, the court said that if you’ve found a way to make money using iOS, you owe Apple 30%, period.

Epic thought in-app purchases should be exempted from the tax. Coinbase thinks elements of the NFT development process — in this case, gas prices to run the processing equipment necessary to mint NFTs — should be exempt from Apple’s app tax. Apple treats all user expenses on an app as in-app purchases and, per the Epic court decision, in-app purchases mean Apple gets a cut.

It’s not a simple problem, and it’s not likely to be solved anytime soon. Stakeholders and regulators have barely begun to integrate cryptocurrency and NFTs into the conventional marketplace. Who gets paid for what is likely to be a conversation for years on end. For now, all that’s certain is that conversation has begun.

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LastPass Security Breach Exposed Some Customer Data, But Details Are Still Slim

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LastPass’ new blogpost continues to be vague about the nature of the latest security incident that has affected the platform. What it does reveal, however, is that the company recently detected yet another incident of “unusual activity” within a third-party cloud storage service connected to LastPass. LastPass stopped short of revealing details surrounding the affected third-party cloud service. However, TechCrunch has hinted at the possibility of the cloud service being AWS. For those unaware, starting in 2020, LastPass began using AWS (Amazon Web Services) to store more than a billion customer records on Amazon’s cloud.

LastPass goes on to add that the security incident prompted an immediate internal investigation, following which they ascertained that the threat actor was able to access “certain elements” of LastPass’ customer information. Interestingly, LastPass has also confirmed that the unauthorized party used data from the August 2022 incident to gain access to LastPass’ systems.

While LastPass hasn’t revealed the exact nature of customer information that has been breached, they maintain that customers’ passwords have not been affected. LastPass also said it had engaged the services of Mandiant — a leading security firm — to help them with the investigation. The company has also notified law enforcement agencies about the same. The company has promised to share more updates surrounding the latest incident after they conclude an internal investigation.

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