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.
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Intel mulls over selling $1-bln assets of venture capital unit
Intel Corp, one of the major manufacturer of computer components in the world, is planning to sell a part of its venture capital (VC) unit Intel Capital. The value of the part of assets to be offered for sale is estimated to be $1billion worth. UBS Group AG has been appointed to find out potential buyers for the sale of a part in venture capital unit.
US oil, natural gas drilling dropped lowest since 1940
The US drilling activity for oil and natural gas declined to record low since 1940 in the wake of weaker oil prices in the global markets. Oil firms are also reducing their spending budgets this year owing to adverse conditions in the markets
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.
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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.
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.
The US Postal Service will cut the price of postage, the first time in nearly hundred years. While, the cost of all commodities are rising, the drop in stamp prices surprises consumers. The cost decrease is anticipated to come live on April 10, 2016.
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.
Fiat Chrysler Automobiles (FCA) has prepared a blueprint on business growth for its Fiat dealers. The new plan enables Fiat dealers to trim operational costs and restore trust in the brand. FCA has also advised dealers to close down unviable stand-alone dealership outlets.
Jessica Alba’s Honest Company is facing allegations of using harsh chemicals it claimed to never use. Two test labs initiated by the Wall Street Journal showed a significant amount of the chemical SLS, but the company strongly denied using the chemical in manufacturing.
