In Probe Related To Swiss Unit, U.S. Authorities Raid Caterpillar Offices

Three central Illinois facilities of manufacturer Caterpillar were raised by federal law enforcement officials on Thursday. The raids, being conducted as part of an investigation, may be related to business with its Swiss subsidiary CSARL, the company said. Caterpillar is one of the world’s largest makers of construction and other heavy equipment and its Peoria, Illinois, headquarters…

To Streamline Production, Cut Prices, Xiaomi Unveils In-House Chipset

As Chinese smartphone firm Xiaomi Inc works to streamline production, lower prices, and gain greater control over handset design to counter the impact of slowing sales, the Chinese firm announced its first in-house designed chipset on Tuesday. Manufactured indigenously at the company’s wholly-owned chip research subsidiary, Beijing Pinecone Electronics, the Surge S1, which manages data…