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International Business Machines Corporation (NYSE:IBM) introduced a new cloud platform for consumer electronics companies and said that it will power the Philips (NYSE:PHG) Smart TV platform for Internet services. This platform will deliver greater interactive services to millions of television viewers in more than 30 countries in Europe, along with Brazil and Argentina. The statement at the IFA consumer electronics event in Berlin says that IBM cloud services will be provided on a pay-per-use basis to TP Vision, a joint venture based in Amsterdam between Philips and TV manufacturer TPV, which is responsible for the development of Philips Smart TV.
Bank of America Corporation (NYSE:BAC): Federal Reserve Chairman Bernanke is widely expected to acknowledge that the United States’ central bank is actively thinking of another round of monetary easing in his keynote speech at Jackson Hole today. However, if he fails to signal that another round of buying bonds is going to take place in the near-term, it could disappoint the financial markets, according to Reuters.
Caterpillar Inc. (NYSE:CAT) group president for customer and dealer support, Stuart Levenick, says that the Chinese economy will likely start to recover later this year or early next year, according to China Daily. Levenick added that he expects Beijing to cut interest rates, as well.
E.I. DuPont de Nemours & Co. (NYSE:DD) Senior Vice President and General Counsel Thomas L. Sager issued the following statement following a ruling Thursday by the United States Federal Court in Richmond, which ordered Kolon Industries to cease the production and selling of their Heracron aramid fiber: “The injunction, coming on the heels of DuPont’s $920 million damages award from last September, reaffirms what was already clear: that Kolon Industries willfully and maliciously misappropriated DuPont’s proprietary Kevlar technology. The trial court ordered Kolon to not produce, market or sell any para-aramid fiber products, worldwide, for 20 years; it also permanently enjoined Kolon from using any of the trade secrets it stole from DuPont. Additionally, Kolon has until Oct. 1 to remove and return DuPont’s trade secrets or face contempt proceedings. In so ruling, the court found Kolon’s conduct to be ‘brazen,’ adding that ‘Kolon’s conduct shows a complete disregard for DuPont’s trade secret rights and a disregard for the law that protects such secrets.’”
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