• US stock market daily report (April 22, 2015, Wednesday)

    International Business Machines Corporation (IBM-NYSE) and PSA Peugeot Citroen - Europe's second largest carmaker - announced on Wednesday they are teaming up to develop software for drivers and passengers that will go beyond mapping and infotainment to link vehicles up to shops, service networks and urban transport grids. The vehicle service software will include back-end applications that could perform preventive car maintenance and traffic management functions.

    The team reportedly have agreed to share responsibilities for developing, selling, marketing and implementing connected services with new and existing clients of the firms from an established work center set up in Paris.

    Software analytics from the car will tap into smart grids of sensors on traffic signs and streetlights to help manage driving through traffic congestion, will reduce pollution and will feed data back to service networks for preventive car maintenance programs.

    Axel Rogaichus, head of IBM's automotive consulting practice in Europe said the partnership with Peugeot was one of the largest they have engaged in pertaining to the automotive industry. Rogaichus added that the software could also link vehicles to retailers.

    Contributed by Millennium Traders
About us
StockMarketsReview.com provides news coverage, analysis and researches for world stock markets, commodities and currencies. We publish articles provided by experts of leading brokerage and investment companies. At our website investors can find daily, weekly and monthly reports, news, recommendations on the IPOs and fundamental analysis for stocks which are currently traded at the stock exchange.