Here is Read Magazine’s Weekly Roundup of the top news from global markets. In this fast-paced world, breaking down information helps readers grasp the nuances that follow the news.
In Aerospace news this week…
Lockheed Martin-Built GOES-U Weather Satellite Successfully Launched
An advanced weather satellite built by Lockheed Martin for the National Oceanic and Atmospheric Administration (NOAA) launched from NASA’s Kennedy Space Center, the GOES-U satellite successfully deployed its large solar array to generate electrical power and has established communications with mission operators. GOES-U is the final satellite in NOAA’s Geostationary Operational Environmental Satellites (GOES) – R series of four satellites. After it reaches geostationary orbit, approximately two weeks after launch, GOES-U will be renamed GOES-19.
In Automotive news this week…
DXC Luxoft and ECARX partnership boosts advanced innovation capabilities for automotive manufacturers
ECARX and DXC Luxoft announced they will work together to accelerate the development of in-vehicle capabilities, resulting in enhanced infotainment, digital cockpit and advanced driver assistance systems, and enabling a better user experience for drivers.The two automotive technology leaders will collaborate on product and platform development to keep up with rapid changes in the automotive industry.
In Agritech news this week…
FBN Appoints Guillaume Luebke as CFO
Farmers Business Network, Inc, the farmer-to-farmer network, and agriculture’s leading ecommerce platform for inputs, capital, and services, announced it’s named Guillaume Luebke as its Chief Financial Officer. The appointment, which was a unanimous decision by the Board of Directors, follows an extensive, global search process. Luebke begins as CFO on July 1st.
In BFSI news this week…
DIGIASIA Corp Advances into AI Solutions for Financial Services, Telecom, and Government Sectors with NVIDIA GPU Allocation
Digi Tech Limited, the UAE based subsidiary of DIGIASIA Corp, a leading Fintech as a Service ecosystem provider, has secured allocation of an initial tranche of 5,120 NVIDIA H200 GPUs. The access to NVIDIA’s GPUs will propel DIGIASIA’s development of cutting-edge AI solutions for enterprise customers in fintech, telecom, and government sectors. The first iteration of these NVIDIA-powered solutions is expected to be deployed by the fourth quarter of 2024.
In Biotech this week…
AbbVie Acquires Celsius Therapeutics
AbbVie announced the acquisition of Celsius Therapeutics, Inc., a privately held biotechnology company pioneering new therapies for patients with inflammatory disease. Celsius’ lead investigational asset is CEL383, a potential first-in-class anti-TREM1 antibody that has completed a Phase 1 clinical study for the treatment of IBD.TREM1 has been identified as a key disease driver gene in IBD, where it is expressed on inflammatory monocytes and neutrophils.
In Defence Technology news this week…
Ansys Joins Intel Foundry’s United States Military, Aerospace, and Government (USMAG) Alliance
Ansys announced it is joining the Intel Foundry Accelerator USMAG Alliance to support the design of secure and efficient chips for national security and government applications. Through this alliance, Ansys’ semiconductor simulation tools will be optimized to deliver secure design methodologies and workflows to meet the requirements of Intel Foundry’s process design kits (PDKs) — essential to fully achieve the requirements of military, aerospace, and government applications.
In Energy, Power and Sustainability news this week…
dClimate and TCS Partner to Leverage Aegis Global Climate Risk Intelligence into TCS Intelligent Urban Exchange TM for AI-driven Sustainability Decisioning
dClimate, a leader in decentralized climate data solutions, announced its strategic partnership with global IT services giant Tata Consultancy Services (TCS) to leverage its innovative Aegis climate risk assessment platform. This partnership will revolutionize the way businesses assess and mitigate physical climate risks. By integrating predictive climate risk data from dClimate’s Aegis platform, TCS will enable its clients worldwide with cutting-edge climate risk intelligence, fostering more informed decision-making in an era of increasing environmental uncertainties.
In Food & Beverage this week…
Ocean Spray and Brightseed Expand Partnership to Validate Novel Health Benefits Of Bioactive Compounds Found In Various Cranberry Varieties Using Forager® AI
Brightseed, the bioactives company and creator of Forager® AI, in partnership with Ocean Spray Cranberries, Inc., the agricultural cooperative owned by roughly 700 farmer families, announced the discovery of novel bioactive compounds in cranberries based on Forager’s in silico findings that will undergo deeper clinical validation. Cranberries have long been considered a superfruit, are celebrated as a rich source of polyphenols with high antioxidant activity, and carry enormous potential for health and wellness.
In Healthcare this week…
Abbott Teams Up With the National Association of Community Health Centers to Expand Access to Nutritious Food and Improve Health
The global healthcare company Abbott and the National Association of Community Health Centers (NACHC) have joined together to increase access to healthy foods and improve health through the Innovation Incubator initiative. Eight community health centers have been selected to receive funding, expert guidance and training to design and test new solutions to help advance nutrition and improve care in their communities.
In Logistics and Supply Chain this week…
E2open Introduces Appointment Scheduling API in Transportation Management Solution to Improve Efficiency and Enhance Collaboration Among Supply Chain Partners
E2open Parent Holdings, Inc., the connected supply chain SaaS platform with the largest multi-enterprise network, has released a new Scheduling Standards Consortium (SSC) Appointment Scheduling API enabling e2open clients to expedite dock scheduling, reduce manual work, decrease lead times, and centralize scheduling data for their shipments. The Appointment Scheduling API is available in the e2open Transportation Management (TMS) solution as part of the company’s 24.2 quarterly technology update.
In Internet Of Things (IOT) this week…
Nokia to acquire Infinera to increase scale in Optical Networks and accelerate product roadmap
Nokia and Infinera, a global supplier of innovative open optical networking solutions and advanced optical semiconductors, announced a definitive agreement under which Nokia will acquire Infinera in a transaction valuing the company at $6.65 per share or an enterprise value of US$ 2.3 billion. The transaction represents a premium of 28% to Infinera’s share price at the close of 26 June 2024 and a 37% premium to the trailing 180-day volume weighted average price (VWAP).
In Medical device this week…
AEYE Health and Optomed to Launch Aurora AEYE: The First Portable, AI-Powered Diabetic Retinopathy Screening Solution that Provides On-the-Spot Diagnosis
AEYE Health, the leader in artificial intelligence-based diagnostics for retinal imaging, and Optomed, a leader in portable retinal devices, are proud to unveil Aurora AEYE, the first-ever portable, fully autonomous screening diabetic retinopathy screening solution. Aurora AEYE enables screening patients anywhere-whether at-home or in clinics- providing instant diagnostic results without the need for human interpretation.
In Smart Lighting this week…
ROHM Develops a Novel VCSELED™ Infrared Light Source that Combines Features of VCSELs and LEDs
ROHM Semiconductor announced VCSELED™, a new infrared light source technology that encapsulates a VCSEL (Vertical Cavity Surface Emitting Laser) element in a resin optical diffusion material for laser light. ROHM is currently developing this technology for commercialization as a light source for improving vehicle Driver Monitoring Systems (DMS) and In-Cabin Monitoring Systems (IMS).
In Retail this week…
GroupM Names Alycia Mason CEO of Wavemaker U.S.
GroupM announced the appointment of Alycia Mason as CEO of Wavemaker U.S., the #1 global media agency network for new business in 2023 according to COMvergence. Mason will lead the agency’s U.S. operations and client relationships and will begin at the end of July. She will join the Global Wavemaker Leadership team, as well as the GroupM North America Leadership Team, and report to Sharb Farjami, CEO of GroupM North America.
In Semiconductor & Electronics this week…
ORBCOMM launches next-generation CT 3600 reefer container monitoring device
ORBCOMM announced the latest generation of its reefer container monitoring solution featuring the CT 3600 device, enabling a new era of intelligent reefer management for shipping lines, container leasing companies and more. “Maritime IoT deployments can be a challenging experience for shipping lines. There are complex technology stacks and the sheer device count of mass deployments to worry about, not to mention third-party installation costs,” said Christian Allred, ORBCOMM SVP and GM of Maritime Logistics. “The CT 3600—the most recent addition to our new reefer monitoring solution—makes building and managing an intelligent connected container fleet easier than ever.”
In Materials this week…
Digimarc Unveils Digimarc Automate: Revolutionizing Product Inspection with Digital Watermarks
Digimarc Corporation, the pioneer and global leader in digital watermarking technologies, launched Digimarc Automate, an innovative automated product inspection solution designed to enhance accuracy and efficiency in production, fulfillment, and distribution facilities. Utilizing advanced digital watermarking technology, Digimarc Automate surpasses systems using traditional product codes, offering unparalleled benefits in quality assurance, waste reduction, data collection, and cost savings.
Article of the Week
Why Is Risk Management In Banking Important?
Like any other institution, banks are vulnerable to several risks. Studies show that 41% of respondents in the banking sector boosted their investments by up to 10% in risk management technologies in 2022. Nonetheless, the risks are heavier in the banking sector than they are in most other businesses due to the significance of the industry and the government’s involvement in risk management. There are many threats that a bank could face, therefore it’s important to know how banks handle risk. This is where risk management in banking comes into play. Let’s learn more.