Bosch is seeking to transform itself from equipment manufacturers to service providers. The company has launched its own cloud computing network and is determined to develop its Internet of Things technology and software to be better.
Industry
India's Former Famous Smartphone, Micromax Now Scrabbles
Micromax has been the popular smartphone company in India but with the introduction of other cheaper smartphones from other companies, Micromax is now struggling to keep pace with its competitors. It is now seeking partnership for expansion to produce television and tablets outside its home country.
LIC invests ₹2,750 crore in shares of nine state-owned banks
Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
China's banking regulator warns of risks from overcapacity, seeks limits on lending
China Banking Regulatory Commission (CBRC) has warned of risks from industrial overcapacity. CBRC has advised commercial banks and financial institutions to keep limits on lending exposure as it sees a need for setting up investment pilot projects and asset securitization to enhance cash flows.
Meal-Kit Deliveries Are Gaining Popularity in the U.S., More Such Companies Emerging
Offering raw but pre-packed and pre-measured food ingredients and step-by-step recipes, meal-kit deliveries are getting more popular in the U.S. The country has seen an increase both in demands and the companies who offer such services.
Latest News
Product management tool provider Propel has closed $4.2 million series A investment. Cloud Apps Capital Partners participated in the A series investment round for Propel.
Taco Bell launched its $1 breakfast menu nationwide aiming to surpass McDonald's "McPick 2". Taco Bell customers can order 10 food items for a dollar each including several additions.
Westlands Water District agreed to pay a fine of $125K to SEC for misguiding investors in Enron accounting transactions. While, Thomas Birmingham and Dave Ciapponi will pay $50K and $20K respectively.
China has decided to implement its stringent anti-pollution efforts despite slowing down of economy. China is propelling up economy growth without compromising on environment protection.
Optimizely, a San Francisco-based cloud-based startup, is slashing its workforce by 10 percent across all the departments. Based on recent round of finance, Otpimizely was valued at $585 million. Since its inception in 2009, Optimizely has raised over $146 million investments including $58 million round in 2015.
Ford introduced a new technology that makes its police cars doors able to hold powerful rifles strikes. It was the first police cars doors to be passed by the Justice Department to provide level IV protection.
Tegna Inc., NBC Sports Ventures, Sky and Emil Capital raised $20 million for Whistle Sports. The amount added a total $73 million equity funding for the digital sports entertainment startup.
South Africa's output in the manufacturing and mining sector might not be a good sign to start the year right. More mining sites stopped their operations creating illegal mining. The president should do something as investors are skeptical on how he handles the country's economic situation.
Chicago Transport Authority has planned to replace 2,600 age old rail cars with 846 units of 7000-Series cars. CTA has awarded the $1.3 billion deal, the largest purchase in its history to a unit of CRR Corp. on Wednesday. Chinese companies have been awarded the second major deal following $567 million contract to supply trains for Boston’s subway system.
