Afternoon Coffee: FusionOps Rebrands as Area Technology, Foxconn to Build Production in 7 States

FusionOps, a business intelligence provider, announced earlier this week it would rebrand as Area Technology and launch a prescriptive analytics software platform for global supply chains, according to DC Velocity. The new name and product expansion follows $50 million round of venture funding led by New Enterprise Associates (NEA).

Foxconn in the U.S.

Foxconn, which assembles the iPhone in China, said Thursady it would invest $10 billion or more in seven U.S. states to build facilities that would manufacture flat-panel screens and related equipment, the Wall Street Journal reported. The candidate states for investment are Illinois, Indiana, Michigan, Ohio, Pennsylvania, Texas and Wisconsin.

Honda Disruption

Neither a supply shortage nor a worker strike halted production at one of Honda’s production plants. It was a cyberattack, rather, that caused the delay, the same ransomeware that struck hundreds of thousands of computers worldwide last month, according to IndustryWeek.

"The malware affected the production of about 1,000 cars," a Honda spokeswoman told AFP, adding that production restarted on Tuesday.

Oil Prices

And finally, a commodities update: Oil prices crept up from multimonth lows Thursday, to $45.52 a barrel, but still faced uncertainty regarding pledged production cuts and concerns about excess supplies, Reuters reported.

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