Rolls Royce Plans to Build Self-Driving Ships
The company announced its intention to team up with Intel to “collaborate on designs for sophisticated intelligent shipping systems that will make commercial shipping safer”.
The initiative looks to use similar technology used in autonomous vehicles, smart cities, and drones.
The company plans to utilize “the expertise in advanced ship technology from Rolls-Royce with components and systems engineering from Intel.”
Sears Files for Bankruptcy Protection
Sears announced that it has filed for bankruptcy protection from creditors.
Sears and Kmart Stores will remain open. However, the company plans to “close 142 unprofitable stores near the end of the year.”
As part of its restructuring efforts, Sears Holdings “intends to reorganize around a smaller store platform of EBITDA-positive stores”
Fidelity Makes Moves into Cryptocurrency
The 72-year old firm announced that it’s launching Fidelity Digital Assets.
The new company will be a cryptocurrency platform offering “custody and trade execution services” for “sophisticated institutional investors such as hedge funds, family offices, and market intermediaries.”
The company stated that it has been researching, mining, and experimented with digital assets and blockchain technology since 2013.