Latest news with #domestic
Yahoo
8 hours ago
- Business
- Yahoo
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
(Reuters) -U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Reuters
8 hours ago
- Business
- Reuters
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
June 27 (Reuters) - U.S. power equipment maker GE Vernova (GEV.N), opens new tab is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg Newsreported, opens new tab on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric (GE.N), opens new tab, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
CNA
8 hours ago
- Business
- CNA
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Gizmodo
2 days ago
- Business
- Gizmodo
The Website for Trump's All-American Smartphone No Longer Promises It's 'MADE IN THE USA'
Earlier this month, the Trump Organization revealed its latest profit-making scheme: the T1, a golden iPhone knockoff that has aptly been dubbed the 'Trump phone.' Alongside the new device, the Trumps launched a wireless mobile network called T1 Mobile, which purports to offer unlimited talk, text, and data. Given that Trump is the 'America First' president, it was very on-brand for the company to promise that the devices would be manufactured domestically. Given that manufacturing a functioning modern smartphone in the US is prohibitively expensive, that always seemed like a lofty promise. Now, it would appear that the Trumps may have gone back on that promise. The Verge first spotted the organization behind the phone, Trump Mobile, has now been 'scrubbed of all language indicating the phone is to be made in the USA.' A large website banner that previously stated 'MADE IN THE USA' has now been replaced with decidedly more vague language. 'Premium Performance. Proudly American,' the site now states. The Wayback Machine shows the site's original language, however: The site now also states that the phones have been 'brought to life right here in the USA' and that 'American hands' are 'behind every device,' language that typically indicates a device was assembled, rather than manufactured, in the U.S. After the media noticed the changes on the Trump Mobile site, a spokesperson for the company told USA Today that 'T1 phones are proudly being made in America' and 'speculation to the contrary is simply inaccurate.' Eric Trump, the president's son, previously hinted that the devices might not actually be made domestically. During an interview earlier this month, the younger Trump noted that 'eventually [emphasis added] all the phones will be built in the United States.' Earlier this month, commentators predicted that the phone would probably be made in China. Gizmodo reached out to Trump Mobile for more information. It is, of course, still possible that the Trump phones will 'eventually' be manufactured in America, but I wouldn't hold my breath. There are very few phones that are actually made in the U.S. because it is so damn expensive to do that. Purism, which Gizmodo previously reviewed, is one such company, but it is the outlier, not the norm. And despite that company's decade-long effort to bring its Liberty Phone to the mainstream, it still retails for $2,000. Purism founder Todd Weaver recently told the Wall Street Journal, 'Even if the specs were less impressive, it would take many, many years to be fully sourced out of the U.S. and not practical.' He explained that we just don't 'have factories here building application processors, high-end displays, or most of the other things in your smartphone.' It is much more cost-efficient to make stuff in Asia, where there are limited to no labor laws and people are willing to work in slavish working conditions because they have no choice. It seems likely that's the sort of worker Trump values, not the kind who is used to air conditioning, decent wages, and consistent lunch breaks.
Phone Arena
2 days ago
- Business
- Phone Arena
Trump Mobile removes key T1 Phone feature from the website
Still, most analysts didn't believe that the Trump T1 could be made in the U.S. since it would require a price well above the $499 being charged for the T1. The only phone known to be made in America is Purism's Liberty Phone which is priced at $2,000 for a device with half the iPhone's memory, twice the thickness, and only a few downloadable apps. Even though making the Trump T1 Phone in America doesn't seem possible, even critics of this president knew not to doubt him when he has a certain goal in mind. The Trump Mobile website no longer pushes the idea that the T1 is Made in America. | Image credit-Trump Mobile However, this time it appears that despite a strong desire to build the Trump T1 in domestic factories, the Trump Mobile team realizes that such a thing cannot come to fruition so quickly. For example, it took the Liberty Phone six years to go from idea to finished product. Now, the Trump Mobile website no longer says that the device is "Made in America" and resorts to other comments such as one that says the T1 is "brought to life right here in the USA," and that it is "proudly American." Despite the changes made to the copy used in the website, Trump Mobile spokesperson Chris Walker said in a statement that "T1 phones are proudly being made in America." Walker followed up by adding that "Speculation to the contrary is simply inaccurate." Back on June 16th when the Trump T1 was introduced, the Trump Organization said that the handset is a "sleek, gold smartphone engineered for performance and proudly designed and built in the United States for customers who expect the best from their mobile carrier." -Trump Mobile If you haven't read through the specs yet, the Trump T1 features: A 6.25-inch AMOLED display with a center punch-hole selfie camera and a 120Hz refresh rate. 50MP rear-facing main camera with 2MP Depth Sensor, 2MP Macro Lens. In-display fingerprint sensor and AI-based facial recognition feature. 12GB RAM, 256 GB expandable storage, 3.5mm headphone jack. 5000 mAh battery with 20W PD charging. Android 15 pre-installed. You can pre-order the Trump T1 by visiting the Trump Mobile site, completing the application, and paying $100. You'll be billed the remaining amount ($399) once the phone ships. You'll have to pay for your first month of Trump Mobile wireless service to pre-order the phone. You can use the service right away with your current phone, or pay the first month of service today and wait to receive your Trump T1 before using Trump Mobile. The Trump Mobile website now says, "The T1SM Phone isn't just powerful—it's brought to life right here in the USA. With American hands behind every device, we bring care, precision, and trusted quality to every detail." Secure your connection now at a bargain price! We may earn a commission if you make a purchase Check Out The Offer
