Plus, Vista Equity Partners is raising $5 billion to extend its investment in the parent company of enterprise-software makers Citrix and Tibco. And U.S. lawmakers want to restrict a trade provision used by Chinese e-commerce giants. Danny Lewis hosts.
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[00:00:00] Here's your TNB Tech Minute for Friday, August 9. I'm Danny Lewis for The Wall Street Journal. Samsung is recalling more than one million electric stoves in the U.S. after hundreds of reports of fires that have injured people and killed pets.
[00:00:16] The U.S. Consumer Product Safety Commission says the affected stoves have front-mounted knobs that can be turned on accidentally. Samsung says it is working closely with the regulator to address the issue. We exclusively report that tech-focused fund manager Vista Equity Partners is raising $5
[00:00:34] billion to extend its investment in Cloud Software Group. The company owns top enterprise software providers Citrix and Tibco. Vista has pitched the deal as a way for new investors to back a cash-rich company in a lower-risk IT segment, with room to expand through acquisitions.
[00:00:52] That's according to one potential investor who looked at the offering. And a bipartisan group of lawmakers is trying to make it harder for e-commerce companies like Shein and Temu to ship products from China to the U.S.
[00:01:05] Currently, a trade provision allows companies to import goods with little scrutiny and no duties. But a new bill would block textiles and apparel from being imported this way, and issue a $2 fee per shipment. Shein says it continues to make import compliance a priority.
[00:01:22] Temu didn't respond to a request for comment. For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast.