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Honda Buys In To GM Cruise Self-driving Unit

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Honda Buys In To GM Cruise Self-driving Unit

Honda Motor Co Ltd will invest $2 billion over 12 years in General Motors Co’s Cruise autonomous vehicle unit after paying $750 million for a stake in the project, seen as among the leaders in self-driving car development.

Honda will work with GM and the unit to fund and develop an autonomous vehicle for Cruise that can be built in high volumes for global deployment, GM said.

GM Cruise and Alphabet Inc’s Waymo are often described as leading the pack of technology and auto companies competing to create self-driving cars and integrate them into ride services fleets.

Japan’s SoftBank Group Corp in May said it would invest $2.25 billion in Cruise, compared to the total $2.75 billion commitment announced by Honda and GM on Wednesday. They said the project was now valued at $14.6 billion.

Ford Motor Co and BMW both plan to deploy self-driving cars in 2021; Tesla Inc has talked about creating a network of self-driving cars and Uber says it is sticking with a development effort despite an accident in which its self-driving car killed a woman in Arizona.

“With the backing of General Motors, SoftBank and now Honda, Cruise is deeply resourced to accomplish our mission to safely deploy autonomous technology across the globe,” Cruise Chief Executive Kyle Vogt said.

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Sports News

Visa Extends Contract With CAF For 4 Years

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Visa Extends Contract With CAF For 4 Years

Visa, a global leader in payment transactions, has extended its contract with the Confederation of African Football (CAF), as a sponsor of the Total Africa Cup of Nations (AFCON) for another four years. This means Visa will sponsor the 2019 and 2021 tournaments.

The sponsorship deal will make Visa the exclusive payment services provider at all venues during the Total AFCON tournaments in 2019 and 2021, and will be the preferred payment option for tickets bought both in-person and online. In addition, Visa will be the official partner of the player escort program, giving over 1,100 children the opportunity to lead their football heroes out at the Total AFCON matches.

CAF President, Ahmad Ahmad, said: “The benefits of investing in African football are clear to see, and with football being the number one passion of consumers across the continent we’re delighted to welcome Visa as a sponsor of the Total AFCON tournament. Through this partnership with CAF, Visa will be able to connect further with its customers and leverage CAF as an innovative marketing platform. Africa is now more connected than ever before, and Visa’s payment network will play a vital role in reaching and rewarding fans across the region. I’m certain that together we will take African football to the next level.”

“Football is the most popular sport in the world with an estimated 4 billion fans and the sport intrinsically aligns with Visa’s values of acceptance and inclusion. The Total Africa Cup of Nations tournament is arguably the most important football event in our region where the best of African football comes together.

We are very proud to begin our association with CAF, Lagardère Sports and the Total AFCON tournament to support the growth of football in our key markets,” said Andrew Torre, Regional President, Central & Eastern Europe, Middle East and Africa (CEMEA), Visa,” said Torre.

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Nigerian News

EFCC Detains University Students Over Cyber Crime

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EFCC Detains University Students Over Cyber Crime

The Economic and Financial Crimes Commission (EFCC) in Ibadan has arrested 36 suspected internet fraudsters in Ogun State.

The commission’s acting Head, Media and Publicity, Mr Tony Orilade, said this in a statement in Abuja on Thursday.

Orilade stated that the suspects, who were between 19 and 37 years of age, included 23 university students, out of which, nine were ladies who allegedly claimed to be girlfriends and or neighbours of some of the suspects.

He said, “the suspects carry out their activities by sending emails to unsuspecting victims mostly in the United States of America, while others were engaged in romance scam on several dating sites.”

Orilade said other items recovered from the suspects included different models and brands of exotic cars, 18 laptops, 50 cell phones, 300 sim cards and two bags of fetish objects.

The media and publicity acting head said that the suspects would be charged to court after investigation.

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Nigerian News

Teleology Takes Over 9Mobile

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Teleology Takes Over 9Mobile

After about eight months when it made the initial $50 million non refundable deposit to acquire 9Mobile, Teleology holdings has been given final approval by the board of the Nigerian Communications Commission (NCC) to own the Telecommunications company.

The company has also immediately constituted a new board of directors to manage 9Mobile’s affairs.

One of the new board members, Mohammed Edewor, said Teleology is pleased with all out-going members of the board for helping to shepherd 9Mobile through the critical transition phase it has gone through since July last year.

Teleology was also granted a twenty-day extension to tidy up the payment process and take over 9Mobile.  NCC also hinted that even with the final payment, the technical capability of teleology to manage 9Mobile successfully must be put into serious forensic test before operating license could be transferred to it.

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