DIRS.INFO The most relevant business & tech news

☆ Chinese lidar maker Hesai to raise up to $171 million in U.S. IPO
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: 1 min

A lidar sensor from Hesai company on top of a vehicle in Shenzhen, China on Jul. China's Hesai Group on Friday announced plans to raise as much as $171 million in an initial public offering in the United States, according to a term sheet. The Shanghai-based lidar maker will offer up to 9 million American depositary shares (ADS) at between $17 and $19 apiece. To date, Hesai has raised over $500 million, according to the company's website. Hesai's IPO is the first major offering by a Chinese firm since the country scrapped most of its Covid curbs and reopened its borders.

☆ Why Instagram Will Never Be Able to Compete With TikTok
▼ + stars: | 2023-02-02 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +9 min

TikTok's secret sauce is its ability to keep users on the platform, and without sacrificing its core, Instagram won't be able to compete. That's because on TikTok, every video a creator makes has to outperform every other TikTok video. Victim of its own successUnlike TikTok, Instagram has long been seen as a secure place on which to build a digital following. A year ago, when the researcher Valdovinos Kaye was interviewing TikTok creators for his book, he found that they desperately sought to transport their audiences over to Instagram. Rather than copying TikTok's success, Instagram might need to focus on what separates it from the pack.

☆ Grand Central's sparkling new terminal could use a spellcheck — it misspelled artist Georgia O'Keeffe's name in an engraved quote about New York
▼ + stars: | 2023-01-30 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

A new terminal for the Long Island Rail Road in New York's Grand Central Station opened Wednesday. The terminal's walls are engraved with homages to New York from famous artists. In a new terminal in New York's Grand Central Station that opened last Wednesday, called the Grand Central Madison station, O'Keeffe's name is spelled with one "f" instead of two, Bloomberg reported. That's the quote that made it into the Grand Central Madison station. Bloomberg reported that the Grand Central Madison terminal is part of an $11.1 billion project called East Side Access that will bring passengers on the Long Island Railroad to Manhattan's Grand Central Terminal instead of Penn Station.

☆ ‘24,’ ‘Runaways’ actor Annie Wersching dead at 45; she had cancer
▼ + stars: | 2023-01-29 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

Actor Annie Wersching, best known for playing FBI agent Renee Walker in the series “24” and providing the voice for Tess in the video game “The Last of Us,” has died. Wersching passed away Sunday morning in Los Angeles following a battle with cancer, her publicist told The Associated Press. Thoughts are with her loved ones.”Actor Abigail Spencer, who appeared with Wersching on the sci-fi series “Timeless,” tweeted, “We love you Annie Wersching. You will be deeply missed.”Born and raised in St. Louis, Missouri, Wersching appeared on dozens of television shows over the course of her two-decade career. Her first credit was in “Star Trek: Enterprise,” and she would go on to have recurring roles in the seventh and eighth seasons of “24,” “Bosch,” “The Vampire Diaries,” Marvel’s “Runaways,” “The Rookie” and, most recently, the second season of “Star Trek: Picard” as the Borg Queen.

☆ Germany's Bosch to increase stake in Sweden's Husqvarna to 12%
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

Shares in Husqvarna, a garden equipment company, were up 12.6% by 0839 GMT following the announcement of the deal. The garden equipment company makes outdoor power products, consumer watering products, cutting equipment and diamond tools for construction and stone industries. Bosch's power tools division set up a "Power for All Alliance" together with Husqvarna subsidiary Gardena in 2020. The 10-brand alliance features products relating to all home-based activities for the European market, Bosch said. The German company has so far bought less than 5% of Husqvarna shares and has an agreement for around 7% more, a Bosch spokesperson said.

Bought from McLaren by private equity firm Greybull Capital in 2021, McLaren Applied has adapted an efficient inverter developed for F1 racing for EVs. Fry says McLaren Applied is working with around 20 carmakers and suppliers, and the inverter will appear in high-volume luxury EV models starting January 2025. NO TIME TO LOSESome suppliers like Cambridge, Massachusetts-based Actnano have had long relationships with EV pioneer Tesla (TSLA.O). Coakley said CelLink was working with U.S. and European carmakers, and with a European battery maker on battery wiring. But it has now also developed battery packs, electric powertrains, e-axles and is working with around 20 customers, including carmakers and an electric vertical take-off and landing (eVTOL) aircraft maker.

☆ Bosch to invest a billion dollars on EV parts centre in Suzhou, China
▼ + stars: | 2023-01-13 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

New Delhi CNN —Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world’s largest car market. The company plans to build a research, development and manufacturing facility for parts for new energy vehicles and automated-driving technology in Suzhou, a city in the country’s east, Bosch said in a statement on Thursday. It plans to invest around $1 billion in the project over the next years, the statement added. “China is the world’s largest auto market, full of promise and vitality. Bosch has had a presence in China since 1909 and employs around 55,000 people in the country.

☆ VW's CARIAD software chief promises progress one jump at a time
▼ + stars: | 2023-01-09 | by ( Joseph White | ) www.reuters.com time to read: +3 min

[1/2] A technician works on the final inspection of an electric Volkswagen ID. REUTERS/Matthias Rietschel/DETROIT, Jan 9 (Reuters) - Volkswagen’s software division, CARIAD, has emerged from a review ordered by VW's new chief executive with a plan to work toward a unified software architecture for future vehicles one jump at a time, according to CARIAD chief Dirk Hilgenberg. “I call our program 'triple jump',” Hilgenberg told Reuters at the CES technology trade show in Las Vegas. “You do one jump after another.”The next key step will be the launch of the Porsche Macan SUV in 2024, which will have VW’s new premium software architecture. Volkswagen's current status is in-between: Software now deployed allows its "ID" electric vehicles to be updated remotely, with a fix for what Hilgenberg called “teething problems”.

☆ 23 major brands suspected of illegally sourcing products made by forced labor in China
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."

[1/2] South African President Cyril Ramaphosa delivers his State of the Nation Address at parliament in Cape Town, South Africa, June 20, 2019. REUTERS/Rodger Bosch/Pool via REUTERSJOHANNESBURG, Dec 1 (Reuters) - President Cyril Ramaphosa, the anti-apartheid champion who become one of South Africa's wealthiest businessmen and then its most powerful politician, was battling for his political survival on Thursday. Ramaphosa was the leading negotiator for the African National Congress (ANC) during talks that led to a peaceful end to apartheid in 1994, which enabled Nelson Mandela to become South Africa's first Black president. Shanduka Holdings, which is unlisted, has become one of the biggest black-owned groups in the country, holding 10% stakes in South Africa's biggest bank, Standard Bank, and insurer Liberty. Ramaphosa's negotiating skills at constitutional talks in the early 1990s won him grudging respect from South Africa's last white president, F.W.

☆ Bosch, Mercedes-Benz to roll out fully-automated parking at Stuttgart Airport
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Mercedes-Benz logo is seen at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha/FilesBERLIN, Nov 30 (Reuters) - Bosch and Mercedes-Benz (MBGn.DE) have received approval for a fully automated self-parking software which enables cars to drive themselves into a pre-booked parking spot at a Stuttgart Airport parking lot and back out again, Bosch said on Wednesday. The function will be available for Mercedes-Benz customers owning an S Class or EQS produced from July 2022 onwards. The two companies received approval in 2019 to begin using the automated valet parking system at the Mercedes-Benz Museum parking garage, and have been cooperating on the development of fully automated driverless parking since 2015. Car owners can book a parking spot ahead of time via an app, and leave their vehicle in a drop-off area.

☆ Germany's Scholz visits Vietnam as manufacturers eye shift from China
▼ + stars: | 2022-11-13 | by ( Francesco Guarascio | ) www.reuters.com time to read: +2 min

The Hanoi visit follows Scholz's trip to China last week, the first by a Western leader in three years since the start of the COVID-19 pandemic. Vietnam and Singapore are the only countries in Southeast Asia that have a free trade agreement with the European Union. About 500 German firms operate in Vietnam, of which around 80 have manufacturing plants in the country, according to the German chamber of commerce in Vietnam, AHK. Many more are looking to diversify some of their activities away from China where about 5,000 German companies operate, AHK head in Vietnam, Marko Walde, told Reuters. Over 90% of German firms planning such a move look at Southeast Asia as their preferred choice, Walde said, noting that Vietnam and Thailand were favourites in the region.

☆ Cisco to open new chip design center in Barcelona, Spain says
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

Bosch CEO sees inflation weighing on margins but could ease chip shortage, article with imageTechnology · November 10, 2022 · 7:22 AM UTCGerman auto supplier Bosch (ROBG.UL) sees a possible easing of the global chip shortage in the second half of 2023 if demand dips under the weight of inflation, CEO Stefan Hartung said on Wednesday.

☆ Businesses can achieve sustainability without sacrificing profit. This company is proving it.
▼ + stars: | 2022-11-10 | by ( Sponsor Post | Created Ibm With Insider Studios | ) www.businessinsider.com time to read: +4 min

By going carbon neutral, Bosch is making a significant contribution to the goal of limiting global warming to 1.5 degrees Celsius. A Bosch washing machine Courtesy of BoschSustainability without sacrificing performanceBosch is committed to energy-efficient operations by enabling even greater sustainability across its business. By moving its SAP solutions to IBM Power10 servers, Bosch is developing IoT solutions while slashing data center energy usage by 20% — taking its green strategy to the next level. The company's global SAP solutions are crucial to underpinning these efforts — and transitioning the SAP solution infrastructure to Power10 is an essential part of its long-term IT strategy. "From the moment we onboarded our first customer to the IBM Power E1080, we saw processing performance gains and improvements of roughly 50% in response times."

☆ Bosch CEO sees inflation weighing on margins but could ease chip shortage
▼ + stars: | 2022-11-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

BERLIN, Nov 10 (Reuters) - German auto supplier Bosch (ROBG.UL) sees a possible easing of the global chip shortage in the second half of 2023 if demand dips under the weight of inflation, CEO Stefan Hartung said on Wednesday. Even then, Bosch would be far below its target margin of 7%, Hartung said. The CEO said it was too soon to know how Europe's gas supply situation would affect the company long-term given the unknowns around which pipelines would come online in time for next winter. "It is good that business is being listened to in this situation," Hartung said. Bosch announced on Wednesday a new partnership with U.S.-based IBM to use quantum computing to establish which materials could replace critical minerals for carbon-neutral powertrains.

☆ Entrepreneur Caught in the Middle of U.S.-China Chip War
▼ + stars: | 2022-11-09 | by ( Peter Landers | ) www.wsj.com time to read: 1 min

Semiconductor whiz Gerald Yin left the U.S. and spent 18 years in China building what he said would be a worldwide powerhouse in chip-making equipment. Now the American citizen’s lifework has been thrown into uncertainty as U.S. restrictions undermine the global industry integration he celebrated. Mr. Yin’s company, Advanced Micro-Fabrication Equipment Inc., or AMEC, had been making big strides and was gunning for industry leaders based in the U.S. and Japan when Washington stepped in. Decades younger than its rivals, the Chinese maker of etching equipment and other tools for the semiconductor industry has said it picked up customers including Robert Bosch GmbH and U.S. chip maker GlobalFoundries Inc. Its equipment is used on dozens of production lines in Europe and Asia.

☆ BMW's Zipse: we are not leaving lower segment for electric cars
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 9 (Reuters) - BMW Chief Executive Oliver Zipse said the premium carmaker would not abandon its lower-priced segment in the transition to electrification. "We are not leaving the lower market segment. Even if you consider yourself a premium manufacturer, it is wrong to leave the lower market segment - that will be the core of your business in the future," Zipse said, speaking at an event organised by autos supplier Robert Bosch GmbH in Berlin. BMW's chief financial officer warned last week that although sales of fully electric vehicles were expected to double this year from 2021 levels, the company expected rising inflation and interest rates to weigh on incoming orders, particularly in Europe. Reporting by Victoria Waldersee Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

☆ Germany's Bosch partners with IBM in quantum computing
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Bosch is seen at an office building in Kyiv, Ukraine July 6, 2020. REUTERS/Valentyn OgirenkoFRANKFURT, Nov 9 (Reuters) - Germany's Bosch (ROBG.UL) is partnering with IBM in the field of quantum computing, hoping to use simulation technology to find surrogates for precious metals and rare earths in carbon-neutral powertrains within the next decade. "We share our experience in simulating materials for very specific application areas with IBM, and in return we gain deeper insights into the power and applicability of quantum computing including hardware," Bosch Chief Executive Stefan Hartung said. Overall, Bosch is investing 10 billion euros ($10 billion) in digitalisation and connectivity by 2025, with new technologies focused on sustainability and mobility accounting for two-thirds. ($1 = 0.9927 euros)Reporting by Christoph Steitz; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Bosch agrees to pay $25 mln to settle California diesel emissions probe
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Bosch company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly SongNov 7 (Reuters) - German auto supplier Bosch (BOSH.NS) has agreed pay $25 million to resolve California's probe into the company's role in the diesel emissions scandals at Volkswagen (VOWG_p.DE) and Fiat Chrysler (STLA.MI), state Attorney General Rob Bonta said on Monday. The settlement, which is subject to court approval, resolves allegations Bosch participated in misconduct by "providing hardware, software, and software programming or calibration services to Volkswagen and Fiat Chrysler when it knew or should have known that these auto manufacturers were violating environmental and consumer protection laws," Bonta said. Reporting by David Shepardson; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Mysteries: A Cold Case for Harry Bosch
▼ + stars: | 2022-11-04 | by ( Tom Nolan | ) www.wsj.com time to read: 1 min

Now retired after three decades with the Los Angeles Police Department, Michael Connelly’s long-running series protagonist Harry Bosch no longer bothers to cultivate a friendly image: “He actually enjoyed being the cranky old ex-cop in the neighborhood whom people were afraid to approach.”Bosch lives in a house overlooking the San Fernando Valley and enjoys a good relationship with his daughter, Maddie, herself a police officer. He has mostly made peace with his departure from the force, but there is one unclosed case “he hated to leave on the table”: the murder of the entire Gallagher family—father, mother, daughter, son—all killed by nail gun in 2013 and buried in the Mojave Desert.

☆ AI chip startup SiMa.ai launches auto business with former Bosch, Mercedes executive
▼ + stars: | 2022-11-03 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

OAKLAND, Calif., Nov 3 (Reuters) - Silicon Valley-based AI chip startup SiMa.ai on Thursday said it is entering the automotive industry and has recruited Harald Kroeger, a former executive at top tier auto supplier Bosch and Mercedes Benz (MBGn.DE), to lead that business. Kroeger, who is on the board of electric pickup truck firm Rivian (RIVN.O), will join SiMa.ai’s board, which includes top chip industry executives Moshe Gavrielov, a Taiwan Semiconductor Manufacturing Co. (2330.TW) board member, and Lip‑Bu Tan, an Intel (INTC.O) board member. The announcement comes as chip makers' competition in the automotive industry intensifies with Nvidia Corp (NVDA.O), Qualcomm Inc (QCOM.O), and Intel’s recently listed Mobileye (MBLY.O) all vying for car makers. SiMa.ai’s main product called MLSoC, short for machine learning system on chip, processes video and images, an important technology for assisted and self-driving technology. "I was on the knife's edge," said Krishna Rangasayee, CEO of SiMa.ai about the decision to enter the automotive market which he noted can take years to generate revenue from.

☆ Volkswagen no longer investing in self-driving startup Argo AI
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 26 (Reuters) - Volkswagen AG (VOWG_p.DE) is no longer investing in Argo AI, the company said on Wednesday, concentrating its automated driving efforts on its existing partnerships with Bosch and Horizon Robotics in China. Volkswagen disclosed a $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup, in June 2020. The investment meant the startup was jointly controlled by the German carmaker and Ford Motor Co (F.N), which made an initial investment in Argo AI shortly after it was founded. "Volkswagen is working with Argo AI to enable further working opportunities for employees and continue developing the promising projects on autonomous driving. All further cooperations with Ford remain unchanged," Volkswagen's statement said.

☆ Baristas in San Francisco went on strike. Their robot co-workers went right on serving
▼ + stars: | 2022-10-18 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

For three days last month, 1,000 food-service workers at SFO went on strike over wages and working conditions. For decades, robots have been replacing, or at least nudging aside, human labor. But at SFO, robot baristas didn't simply replace humans — they crossed a picket line. Cafe X robot baristas stayed on the job when food-service workers went on strike at San Francisco International Airport last month. The short version is: Every new robot per thousand human workers reduces employment by 0.2 percentage points and decreases wages by 0.42%.

☆ German car industry baulks at supplier demands over energy hikes
▼ + stars: | 2022-10-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +6 min

More and more suppliers are calling on the industry to renegotiate contracts to include energy clauses so they can cover the cost of rising bills. "We're asking for help with raw material costs, for clauses incorporating inflation - but the red line is energy costs. 'NO GOOD OPTIONS'While contracts in the automotive supply chain in Germany often include clauses that adapt prices according to the cost of raw materials, energy clauses are much less common. They can be problematic because they are complicated to calculate and require suppliers to share details on their margins, the production process and their energy contracts. "At a car manufacturer it's a lot of effort," he said, adding that his company only had energy clauses with a few important suppliers.

The "check your kids’ Halloween candy" meme, which first went viral in meme form in October 2014, parodies "a Halloween urban legend about people hiding needles and razors in candy before giving them out to trick-or-treaters," according to meme database Know Your Meme. We just found the Carina Nebula in a candy bar. No words," the LinkedIn official Twitter account wrote in an Oct. 11 tweet, featuring an image of a beach inside a candy bar. Arcade and restaurant Dave & Busters tweeted: "Be diligent and check your child’s candy this year, just found a finger trap shoved inside a candy bar. The Oklahoma Department of Wildlife Conservation joked it had found a slimier surprise in a candy bar.

Search resuls for: "BOSCH"

25 mentions found