IlluMyFi

Dubai, UAE: - Sony Honda Mobility Inc. (SHM) is exhibiting a booth at CES® 2024 in Las Vegas, Nevada, USA starting on Tuesday, January 9, 2024 (local time). In advance of CES® being opened to the public, Sony's press conference was held on Monday, January 8 (local time). Representative Director, President and COO Izumi Kawanishi took the stage. During the press conference, SHM announced a collaboration with Microsoft Corporation. (Head Office: Redmond, Washington, USA; Chairman and Chief Executive Officer: Satya Nadella) in creating a personal agent for mobility. The following is a summary of the announcement of this collaboration at the press conference. Announcements SHM aims to revolutionize how people move, making mobility interactive and expressive, redefining the relationship between people and mobility, enhancing "emotional experience". SHM has also entered into an agreement with Microsoft to develop a conversational personal agent, using Microsoft Azure OpenAI Service. AI plays an essential role in achieving our goal to redefining the relationship between people and mobility, enhancing emotional user experience. Microsoft is a key partner to provide conversational personal agent. We are pleased to be working with Microsoft to realize our vision. Izumi Kawanishi Representative Director, President and COO, Sony Honda Mobility "Generative AI is a new canvas that is amplifying human creativity and creating opportunities for creators and designers to completely transform the in-vehicle experience. We are proud of our collaboration with Sony Honda Mobility and excited to see their innovative use of Azure AI technologies and their ability to build with confidence knowing Microsoft Azure is providing a trusted platform as the AI landscape and mobility industry evolves. As these new technologies come forward, safe and responsible AI will continue to be a top priority for both organizations". Jessica Hawk Corporate Vice President Data, AI, Digital Applications Product Marketing, Microsoft "As a Mobility Tech Company that connects diverse inspirations and pursues cutting-edge technology, Sony Honda Mobility Inc. will realize innovations in mobility that affect people's sensibilities and behavior". -Ends- About Sony Middle East and Africa: Sony Middle East and Africa FZE is a 100% subsidiary of Sony Corporation and is the regional headquarters for the Middle East and Africa regions. The company is engaged in the business of Sony Consumer Electronics, Mobile Electronics (Car Audio), broadcasting and professional products and Computer Entertainment (PlayStation) products in more than 40 countries in the region. Apart from stock operations in the Jebel Ali Free Zone Establishment in Dubai, Sony Middle East and Africa leads execution of various logistics, sales, marketing, advertising and customer services activities through its business partners. 353 accredited third-party service centers reinforce Sony's presence in key markets in the region. For media inquiries, please contact: Sony Middle East and Africa FZE Yehia Hessaan Email: yehia.hessaan@sony.com BPG Group Sai Talwalkar Email: sai.talwalkar@bpggroup.com

Sentiment

Bearish/Bullish

13.01.24 07:34

by zawya.com

BlackRock strikes $12.5bln deal for Global Infrastructure Partners

NEW YORK/LONDON - BlackRock said on Friday it would buy Global Infrastructure Partners (GIP) for $12.5 billion in a major bet on alternative assets and announced a shake-up of its top management. The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power, and digital infrastructure projects around the globe. Once the deal closes, the firm will hold approximately $150 billion in infrastructure assets across a portfolio that ranges from the U.S. liquefied natural gas export market to wastewater services in France to airports in England and Australia. Soaring demand for logistics and digital infrastructure, and the trillions of dollars needed for the transition away from high-carbon energy, have made the asset class increasingly popular among institutional investors. "Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy," said chief executive Larry Fink. BlackRock, which manages $10 trillion across all markets, has been on the hunt for what it hopes will be a transformative deal as its revenues stagnated and its environmental, social, and corporate governance business came under political attacks in the United States. "This is [Fink's] chance to put his final fingerprint on the company" and allow it to compete with firms such as BlackStone and Apollo Global Management, said Kyle Sanders, an analyst at Edward Jones, who has a buy rating on the stock. Founded in 2006, GIP manages more than $100 billion in assets and has a portfolio including Britain's Gatwick airport, the Port of Melbourne and major offshore wind projects. MANAGEMENT CHANGES BlackRock also unveiled changes to its senior management structure, at a time when speculation has been growing over who will succeed Fink, who founded BlackRock in 1988. Stephen Cohen becomes chief product officer and will lead a new global product strategy group, while Salim Ramji, global head of iShares and index investments, is leaving, according to a company memo seen by Reuters. BlackRock is also creating a new international business structure under Rachel Lord to lead Europe, the Middle East, India, and Asia Pacific, the memo said. Five of GIP's founding partners will join BlackRock, including GIP Chairman Bayo Ogunlesi, who will also join BlackRock's board of directors following closure of the deal, it added. Ogunlesi will step down from Goldman Sachs' board following his move to BlackRock, Goldman CEO David Solomon said on Friday. The deal adds "new contenders" to the list of candidates to succeed Fink, who at 71 has yet to name his eventual replacement, said Cathy Seifert, an analyst at CFRA. "As alternative assets become an increasingly important part of BlackRock's business mix, the next leader's private asset skill set will become more important," she said. PROFIT BEAT BlackRock also reported an 8% rise in quarterly profit, helped by a rebound i...