Afternoon Coffee: Western Companies Hope to Benefit from New Silk Road, Apple Invests in Corning

China’s “One Belt, One Road” infrastructure project may be seen as a sign of the rising importance of the East, but that doesn’t mean Western companies won’t stand to benefit, either. As the Wall Street Journal reports, the $900 billion spending plan is creating huge opportunities for Honeywell, General Electric and Caterpillar, which all have well-established relationships in Beijing.

Apple Invests in Corning

Apple’s $1 billion fund designed to spur manufacturing in the U.S. announced its first investment Friday. Corning Inc., which makes gorilla glass, will receive $200 million to improve its Harrodsburg, Kentucky R&D facility, TechCrunch reports.

Wipro Goes with Icertis

IT consulting company Wipro announced Monday it had selected Icertis to enable its contract management processes, according to a press release.

"After evaluating various contract management providers, we selected Icertis based on its demonstrated ease of use and rich feature set, which align directly with the needs of a global organization like ours," said Jatin Dalal, CFO, Wipro Limited. "Icertis will help us manage contract terms better, increase the velocity of contract authoring and connect sell and buy-side contracts across our sales team as well as vendor subcontractors."

PPI Update 

And finally, an economic update: The producer price index put out by the Labor Department rose 0.5% in April, exceeding economists expectations, MarketWatch reports.

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