In a statement, Ford Motor Co said it will produce 50,000 ventilators over the next 100 days from its plant in Michigan in collaboration with General Electric’s healthcare unit. Following this, it can build 30,000 ventilators per month so as to treat patients afflicted with China’s Wuhan coronavirus. The simplified ventilator design, licensed by GE…
In a statement tech giant Microsoft Corp said, its workplace messaging app, Teams, has more than 20 million daily active users, up from 13 million in July 2019. Microsoft offers Teams as part of some Office365 business packages; it also offers a free version. Teams allows users to chat, share files, make calls and hold…
The israeli startup uses advance mathematics in machine learning and artificial intelligence technologies to help financial institutions identify the earliest signs of money laundering. On Tuesday, Israel’s ThetaRay stated, it has completed a funding round in which it raised more than $30 million, bringing the total amount it raised to date to more than $60…
Later today, GE and Microsoft are set to announce a deepening of their partnership revolving around GE’s industrial internet platform and Microsoft’s Azure cloud platform. As a result, GE will be in a better position to tap the vast majority of industries who use Microsoft’s software. A senior executive from GE has disclosed that…
ABB sees a yearly potential for cost synergies of $200 million arising as a result of this acquisition. On Monday, Swiss engineering giant ABB stated it will be acquiring General Electric’s Industrial Solutions for $2.6 billion. The deal is help expand its footprint in the North American market. As a result of the deal, Zurich-based…
This is significant since GE is aiming to develop next generation thermal power technology and control systems. As per a statement from the Pentagon, General Electric Co has been awarded a defense contract worth up to $409 million. The contract is for developing next-generation thermal power plants and control systems, as part of a government…
This appointment is effective from August 1. With General Electric’s Chief Executive, Jeff Immelt, 61, retiring the company has selected John Flannery, who currently heads GE’s healthcare unit, as his replacement. Flannery will become GE’s CEO and chairman from August 1. With the news hitting the market, the company’s shares rose by 3.6% in premarket…
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