Latest news with #ChooseFrance
Yahoo
27-06-2025
- Business
- Yahoo
Revolut reportedly to acquire Argentina's Banco Cetelem
UK-based neobank Revolut is reportedly set to acquire Banco Cetelem, an Argentine lender owned by BNP Paribas, as part of its expansion into Latin America. This acquisition includes Cetelem's banking licence and its $6.4m in assets, reported Bloomberg. The transaction's value has not been disclosed. Revolut has already initiated the regulatory process with Argentina's monetary authority. Following a Bloomberg report, Revolut confirmed its entry into Argentina, having previously launched operations in Mexico and Brazil. The company aims to secure a banking licence to enhance its presence in Argentina's financial system. The acquisition follows a competitive bidding process that included other interested parties, such as Southern Cross Group and brokerage firm Criteria. To facilitate its operations in Argentina, Revolut has appointed Agustin Danza as CEO and is actively hiring for key positions. The company is also navigating the regulatory approval process necessary for acquiring a banking institution in the country. Last month, Revolut announced plans to invest €1bn ($1.12bn) in France over the next three years and aims to apply for a French banking licence. This announcement was made at the "Choose France" investment summit hosted by President Emmanuel Macron at Versailles Palace. During the same month, Revolut selected Dutch identity services provider Fourthline as its strategic partner to support its expansion plans and enhance operational agility and scalability. "Revolut reportedly to acquire Argentina's Banco Cetelem" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
See - Sada Elbalad
24-06-2025
- Business
- See - Sada Elbalad
Macron Outlines Vision for the Future of the Music Industry at France Music Week
Yara Sameh The France Music Week Summit, a highlight of the first France Music Week, brought together 100 music industry professionals at the Palais Garnier on Friday, June 20, and concluded with a keynote address from French President Emmanuel Macron. Earlier that week, on Monday, June 16, France's Minister of Culture, Rachida Dati, officially launched the first-ever France Music Week — a mix of programming for music business professionals and the general public. One of the week's most significant announcements was a €500 million commitment to the French music industry through Bpifrance by the end of the decade. This includes €125 million in equity funding to support high-growth French companies, international expansion projects, and asset-based consolidation; €340 million in loans and guarantees; and €35 million dedicated to innovation. 'We launched Choose France [an international business summit hosted by France] eight years ago. Now, I want to do the same in key sectors — and music is one of them,' President Macron said during his speech. 'We can go further. France has major assets to boost its global attractiveness.' As Dati said during the launch address 'Supporting businesses in the music sector means defending a key part of our cultural sovereignty and economic identity.' A Day of Industry Dialogue Among the most anticipated speakers was Warner Music Group CEO Robert Kyncl, who opened his remarks by highlighting the global success of Aya Nakamura. 'We do a lot of artist development, but it takes a global effort to build an artist with long-term success,' Kyncl noted. 'We're especially proud of Aya Nakamura, signed to Warner Chappell and Warner Music.' John Reid, president of Live Nation Entertainment, focused his remarks on the future of the concert business: 'When you look at new markets like Asia and the Middle East, you see growth trajectories in touring similar to what we experienced in the U.S. three or four years ago.' Among French voices, SACEM CEO Cécile Rap-Veber emphasized the threat of dilution in the age of generative AI: 'That's where we're losing value today. That's why SACEM and Universal were among the first to adopt the artist-centric model on Deezer. I hope all platforms adopt a model that compensates true creators for real creativity.' Also present at the Palais Garnier — home of the Opéra National de Paris — were key figures such as Lyor Cohen (YouTube), Victoria Oakley (IFPI), Lee Soo-Nam (SM Entertainment) and Adriana Moscoso Del Prado (GESAC); French industry leaders Alexis Lanternier (Deezer), Denis Ladegaillerie (Believe); the heads of the three major labels — Alain Veille (Warner Music France), Marie-Anne Robert (Sony Music France) and Olivier Nusse (Universal Music France) —Emmanuel de Buretel (Because Music) and Ed Banger founder Pedro Winter. Three Key Challenges Ahead Several music executives were received at the Élysée Palace by President Macron in advance of the Fête de la Musique. In a closed-door address, Macron laid out what he sees as three major challenges for the industry — beginning with fair artist compensation. 'Alternatives such as the artist-centric or user-centric models, and some of you are great inspirators of this change, championed by platforms like Deezer, deserve our full attention,' Macron said. 'We have to follow up this work and it's very important to deliver as well a common European approach.' The second challenge: the rise of mega-concerts. 'These are spectacular successes and we are very proud to host them, such as Beyoncé's yesterday in the Stade de France, but they can't obscure underlying vulnerabilities as well,' he said. 'Mid-sized venues, festivals and local stages are struggling to keep up with rising costs. This new model is very fruitful, but we have to organize ourselves in order not to sacrifice what clearly is a strength of the French model.' During his speech, Macron stressed the need for France to invest in artificial intelligence, not only to remain competitive with the U.S. and China, but to do so ethically. 'Creation and innovation are not the opposite, but the history of music is one of constant reinvention. And music clearly has always been at the forefront of change,' he said. 'Unregulated generative AI could lead upstream to a form of dispossession of original work and downstream to a dilution of the value of human creation.' The day concluded with performances by The Avener and Kassav' in the Élysée's main courtyard. A major free concert closed out France Music Week in the gardens of the Louvre the following day. The event featured performances by Major Lazer Soundsystem, Kalash, and Christine and the Queens, under the artistic direction of Thierry Reboul, Victor Le Masne and Romain Pissenem — already known for their work on the Paris 2024 Olympic Games. AI: 'A Machine That Destroys Music's Value' Beyond Macron's remarks, artificial intelligence was a central topic throughout the summit. At the Palais Garnier, Culture Minister Dati shared her vision: 'While AI is a unique tool for the sector, its power comes with serious responsibility. We must ensure that fully synthetic, AI-generated music doesn't spread at the expense of human creators.' Jean-Baptiste Gourdin, President of the Centre National de la Musique, made AI a core part of his closing speech. 'AI is no longer science fiction,' he said. 'It's already embedded in creation, distribution, recommendation and rights management. This raises legal, economic and ethical questions. If poorly regulated, AI could become a machine that destroys the value of music.' Defending a French Model A recurring theme throughout the day was the defense of France's cultural exception — the idea that the arts are not completely subject to a free market — and the development of a new, French-led model for the music industry of tomorrow. 'Music needs both the investment power of global corporations and the creativity and daring of independent, local players,' said Gourdin in his closing remarks. Macron added: 'A few years ago, when a lot of people wanted to revisit this cultural exception, we fought very hard with some of you and we managed to deliver the European Parliament's preservation of the copyrights and of the artists. I think there is no model where you can sacrifice the copyrights and the protection of the artists.' Among the foundational goals of France Music Week is to strengthen France's position on the international stage. 'We want to help our key players to benefit from these global dynamics, largely focused in Asia, the Gulf, LATAM and some other places,' he added. Gourdin concluded: 'Export is no longer optional — it's a core pillar of the new business model. But globalization doesn't mean standardization. Around the world, it's local content — rooted in culture, language and collective imagination — that drives user engagement and market growth. The universal now passes through the singular. And that presents a tremendous opportunity for French and Francophone creators.' read more New Tourism Route To Launch in Old Cairo Ahmed El Sakka-Led Play 'Sayidati Al Jamila' to Be Staged in KSA on Dec. 6 Mandy Moore Joins Season 2 of "Dr. Death" Anthology Series Don't Miss These Movies at 44th Cairo Int'l Film Festival Today Amr Diab to Headline KSA's MDLBEAST Soundstorm 2022 Festival Arts & Culture Mai Omar Stuns in Latest Instagram Photos Arts & Culture "The Flash" to End with Season 9 Arts & Culture Ministry of Culture Organizes four day Children's Film Festival Arts & Culture Canadian PM wishes Muslims Eid-al-Adha News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Yahoo
09-06-2025
- Automotive
- Yahoo
AESC launches production at new EV battery in France
Japanese battery manufacturer AESC Group has launched production at its newly-built electric vehicle (EV) battery plant in Douai, France. The company marked the occasion with a Start of Production (SOP) ceremony which was attended by French President Emmanuel Macron, whose attendance the company said 'illustrates the importance of this milestone for France's transition towards sustainable mobility.' The facility has a production capacity of 10 GWh of lithium-ion batteries per year, enough to power up to 200,000 EVs, and currently supplies domestic automaker Renault. It currently employs approximately 650 people, a number that is expected to rise to 1,000 at full production. AESC pointed out that the Douai plant is powered by clean electricity and features advanced manufacturing processes, including electrode production, cell assembly, and module integration. The company confirmed that the plant was built with the support of French and European financial institutions including Bpifrance, Caisse des Dépôts et Consignations, European Investment Bank and a syndicate of leading commercial banks. Just-Auto previously reported that the European Commission (EC) had approved € 48 million in French state aid for the project. Speaking at the opening event, Emmanuel Macron said: 'Here in Douai, we are turning a new page in the history of French industry. The inauguration of the AESC gigafactory—launched as part of Choose France in 2021—is the culmination of eight years of determined effort. This flagship project reflects a uniquely French vision of ecological transition: one that unites innovation, development, job creation, and sustainable ambition.' Lei Zhang, Chairman of AESC Group, added: 'The start of production at our Douai gigafactory marks a pivotal step in AESC's commitment to advancing France's reindustrialization and leadership in the global energy transition. By investing in cutting-edge battery technology and skilled talent, we are proud to help accelerate the decarbonization of transportation worldwide. France's bold vision for clean mobility continues to inspire us every day.' "AESC launches production at new EV battery in France" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
01-06-2025
- Business
- Newsweek
JPMorgan CEO Says US Economy Threatened by 'Enemy Within'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The CEO of JPMorgan Chase Jamie Dimon has characterized the real threats to the long-term health of the U.S. economy as internal, rather than those posed by any foreign nation. Speaking at the Reagan National Economic Forum in California on Friday, Dimon said that the "tectonic plates" of geopolitics and the global economy were shifting, and that the biggest issue underlying this was "the enemy within." "I'm not as worried about China. China is a potential adversary—they're doing a lot of things well, they have a lot of problems," he said. "But what I really worry about is us. Can we get our own act together—our own values, our own capability, our own management." Why It Matters Dimon's comments come as the U.S. grapples with the threat of a recession, and a broader deterioration of its economic outlook. In addition to weak consumer confidence and fears over inflation, the trade policies of the U.S. administration have resulted in significant market volatility and raised concerns the economy could be approaching a major downturn. Despite the 90-day tariff pause agreed between the two nations on May 12, negotiations between the two countries have not resulted in substantive progress, with recent accusations of violations further and aggressive posturing from the administration threatening to derail any potential breakthrough. What To Know Dimon defined the "enemy from within" as a broad combination of state-level economic mismanagement, regulatory gridlock, deficiencies in the schooling and health care systems, while mentioning several other difficulties, including the persistent risk of the U.S. economy slipping into a recession. While he agreed with outgoing Berkshire Hathaway CEO Warren Buffet's assessment that the U.S. and its economy remain "resilient," Dimon added: "This time is different. This time we have to get our act together and we have to do it very quickly." JPMorgan Chase CEO Jamie Dimon delivers a speech during the Global Markets Conference, ahead of the Choose France summit, in Paris, on May 15, 2025. JPMorgan Chase CEO Jamie Dimon delivers a speech during the Global Markets Conference, ahead of the Choose France summit, in Paris, on May 15, 2025. Michel Euler/POOL/AFP via Getty Images In addition to geopolitics, and the proxy activity and nuclear proliferation of countries such as North Korea, he said another "tectonic shift" taking place was in the global economy, and America's continued ability to engage and maintain amicable economic relations with its trading partners. He said that the priority over the coming weeks and months—during the pause on reciprocal tariffs and the temporary reduction in China's rates—should be to reach in-principle agreements with "15 important" partners, without specifying the nations in question. "I would engage with China," he added. "I just got back from China last week. They're not scared, folks. This notion they're gonna come bow to America — I wouldn't count on that." Despite the truce agreed last month, negotiations between the world's two largest economies are "a bit stalled," according to Treasury Secretary Scott Bessent. In addition, President Trump on Friday accused Beijing of "totally" violating the terms of the 90-day pause, signaling a potential reescalation of the trade conflict. What People Are Saying JPMorgan CEO Jamie Dimon on Friday said: "Right now we're not a team anymore, and we don't collaborate, we don't talk that much to each other. Deal with our policy—and this is the enemy within—we've got to fix our permitting, our regulations, our immigration, our taxation." "But the most important is maintain those military alliances. Spend whatever you've got to spend to have the strongest military in the world," he added. "And I'm hoping the goal of the Trump administration is this: Keep the Western military alliances together." President Trump, via Truth Social on Friday, said: "Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!" What Happens Next? Trump's 90-day suspension of reciprocal tariffs is set to expire on July 8, while the China tariff pause will end in August—though both remain subject to a potential cancellation.
Korea Herald
23-05-2025
- Business
- Korea Herald
G42 and Mistral AI unite to build next-gen AI platforms and infrastructures
PARIS, May 22, 2025 /PRNewswire/ -- In a significant moment for global AI, G42, the Abu Dhabi-based global technology group, and Mistral AI, the leading AI company headquartered in Paris, today announced a strategic partnership to co-develop next-generation AI platforms and infrastructure. The announcement, held on the margins of Choose France, aligns with the broader AI cooperation agreements supported by the UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the French President Emmanuel Macron in February 2025, and underscores the growing momentum between the two nations in shaping a future where artificial intelligence is open and accessible to all. Rooted in long-standing economic and cultural ties that have defined UAE–France relations for nearly half a century, this alliance reflects a new chapter in cross-regional AI cooperation. The collaboration will bring together G42's operational scale and AI capabilities, via its various operating companies, including Core42 on AI Infrastructure and Inception on AI Platform and Solutions development, with Mistral AI's frontier research, solutions and products in open-weight large language models. " This partnership exemplifies a new model of AI development: one that balances sovereignty with interoperability, and ambition with accountability," said Peng Xiao, Group CEO of G42. " Together with Mistral AI, we're not just building technology, we're laying the groundwork for a digitally interdependent future where trust and transparency are non-negotiable." The partnership spans the AI value chain from AI models training, AI agents and infrastructure development to industry-specific applications across Europe, the Middle East, and the Global South. Integration of Mistral AI's platform with G42's AI stack will be developed with technical autonomy and IP governance designed to protect innovation while enabling scalable deployment. The companies will also explore opportunities to promote each other's offerings in both respective existing and new international markets. Arthur Mensch, Co-founder and CEO, Mistral AI, added: "G42 is a partner who shares our commitment to making powerful, open artificial intelligence accessible to all. This alliance not only accelerates our journey but also ensures that the benefits of AI extend beyond traditional tech hubs." As part of the agreement, Mistral AI will also explore collaboration opportunities with the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the world's first AI university based in Abu Dhabi, across advanced research and development in frontier foundation models, talent development, and the translation of cutting-edge research into real-world AI solutions, as part of the collective efforts in supporting the next-generation AI platforms and infrastructure "We look forward to working with Mistral AI and G42 to advance AI technology in the areas of next-generation foundational models, energy-efficiency and safety," said Eric Xing, President and University Professor, MBZUAI. "Our shared values around driving innovation, collaboration, accessibility and inclusion make us ideally suited to drive research advancements in the field of AI to the benefit of all." The agreement is part of a broader commitment by both parties to foster AI innovation, openness, economic opportunity, and inclusive growth, particularly in regions historically underserved by technology infrastructure. Today's announcement positions the G42–Mistral AI partnership as a flagship of bilateral cooperation and a demonstration of a new accessible and open direction for artificial intelligence. About G42 G42 is a global technology group creating visionary artificial intelligence for a better tomorrow. Headquartered in Abu Dhabi and operating worldwide, G42 champions AI as a force for good across healthcare, energy, transportation, and beyond. Its portfolio includes Core42, Inception, Space42, Presight, and more. To know more, visit About Mistral Mistral AI is a pioneer company in generative artificial intelligence, empowering the world with the tools to build and benefit from the most transformative technology of our time. The company democratizes AI through high-performance, optimized, and cutting-edge open-source models, products and solutions. Headquartered in France and independent, Mistral AI defends a decentralized and transparent approach to technology, with a strong global presence in the United States, United Kingdom, and know more, visit MBZUAI is a research-focused university in Abu Dhabi, and the first university dedicated entirely to the advancement of science through AI. The university empowers the next generation of AI leaders, driving innovation and impactful applications of AI through world-class education and interdisciplinary research. In 2025, MBZUAI launched its first ever undergraduate program, a Bachelor of Science in AI, with two distinct streams: Business and Engineering. For more information, please visit
