Industry

US factory orders drop again amid manufacturing slump Reuters   New orders for American-made goods dropped in November, the latest sign that the manufacturing sector has struggled to climb out of the mild recession it fell into last year.  The Commerce Department said Tuesday factory goods orders fell 0.7%, in line with economist expectations and the third decline in four months.  The figure was pulled down by orders in the transportation sector, which declined more than 2% for civilian aircraft and by nearly three quarters for defense aircraft. That weakness was expected after Boeing suspended production of its 737 Max...

Manufacturing, supply chain see greatest cost savings from AI: McKinsey   Credit: Getty Images Dive Brief: Supply chain and manufacturing are two functions most likely to see cost savings as a result of using artificial intelligence (AI), according to a recent survey by McKinsey and Company that asked hundreds of respondents about the benefits their companies were seeing from AI and its impact on organizations. The survey found 64% of respondents saw cost reduction in the manufacturing space while 61% saw a reduction in supply chain planning costs. The report suggests the supply chain savings are the result of better spend analytics...

Phillips-Medisize adding to manufacturing in Denmark Phillips-Medisize LLC The Hudson, Wis.-based injection molder Phillips-Medisize will expand a site in Struer, Denmark, to include a clinical manufacturing unit. Hudson, Wis. — Hudson-based Phillips-Medisize LLC is expanding a European facility to include a clinical manufacturing unit. Phillips-Medisize, part of Molex LLC, plans to open the manufacturing facility in Struer, Denmark, in the second quarter of 2020, according to a Jan. 8 release. The injection molder and medical manufacturer provides a range of custom drug delivery devices and manufacturing services worldwide. Approximately 500 meters of floor space from the existing 8,400-square-meter building will be...

Tech Companies Downshift Ambitions for Electric Vehicle Manufacturing Technology companies continued to curb their ambitions for manufacturing electric vehicles in 2019.  At one point, Apple was reportedly planning to launch an electric vehicle by 2019, but after much hype around its secretive initiative called Project Titan, the iPhone maker shifted gears on EVs several years ago. While Apple continues to file automotive-related patents, its efforts now appear focused on infotainment and autonomous driving software rather than building a car from scratch. In October of this year, U.K. consumer electronics firm Dyson dropped its plans for what was described as a “fantastic car” after...

Latin America Roundup: XP’s chart-topping IPO, Wildlife becomes a unicorn, SoftBank backs Konfio December has been a strong month for Brazilian startups, bringing a big IPO and a new unicorn for local companies. Tech-driven investment firm XP Investimentos went public on the U.S. Stock Exchange in mid-December, raising $1.81 billion in the fourth-largest IPO of 2019. XP’s stock price jumped 30% on its first day of trading, from $27 per share to $34.50. XP was founded in 2001 to provide brokerage training classes to Brazilians to help them invest in the international stock market. Today, it is a full-service brokerage firm, providing fund management...