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“Donald Trump and the other defendants have committed persistent and repeated fraud,” New York Attorney General Letitia James said outside the state Supreme Court courthouse on Monday morning. Editorial Cartoons on Donald Trump View All 675 ImagesSuch inflations helped Trump build a real estate empire and bolster his image and brand – both of which eventually propelled him to the White House. Trump has maintained innocence and says he plans to appeal any and all decisions and orders against him. We have a racist attorney general who is a horror show, who ran on the basis that she was going to get Trump before she even knew anything about me.”“It’s a scam,” he said. Meanwhile, the attorney general prosecution’s witness list is 28 people long, and includes Trump’s sons Donald Trump Jr. and Eric Trump and his daughter Ivanka Trump.

Persons: Donald Trump, “ Donald Trump, ”, Letitia James, Judge Arthur Engoron, Trump, Engoron, James, “, ” Trump, ” Christopher Kise, Donald Trump Jr, Eric Trump, Ivanka Trump Organizations: Trump Organization, ” New York, Trump, Trump National Golf, Donald Trump View Locations: Manhattan, Florida, Mar, New York

☆ Trump's NY fraud trial starts today. Here's why it matters, even though the judge already found fraud.
▼ + stars: | 2023-10-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

New York's massive, $250 million fraud lawsuit against Donald Trump and Trump Org goes to trial Monday. Some weeks later, Eric Trump, Donald Trump, Jr., and Donald J. Trump must take the stand, in that order, and in post positions 25-27 out of the AG's total of 28 direct-case witnesses. But one thing that was clear about the decision is that fraud – lots of it – was found on the part of Donald Trump. Donald Trump Jr., left, and Eric Trump. She wants the judge to permanently ban not just Trump but Eric Trump and Donald Trump, Jr. from ever serving as an officer or director of any New York corporation.

Persons: Donald Trump, Trump, —, Donald Trump's, Christopher Kise, Kise, Letitia James, Ivanka Trump, Eric Trump, Donald Trump , Jr, Donald J, Arthur Engoron, –, Donald Trump ., Jeffrey McConney, Allen Weisselberg, Donald Trump Jr, Chip Somodevilla, James, Weisselberg, McConney, Kevin Wallace, Engoron Organizations: Trump Org, Service, Trump Organization, New York, Trump, New, Trump Revocable Locations: Manhattan, Springs, New York's Westchester County, York, New York

Dianne Feinstein once stood at the center of a pivotal moment in LGBTQ+ history. Decades later, in death, she's being lauded by LGBTQ+ leaders as a longtime ally who, if she didn't always initially do the right thing, was able to learn and evolve. The suspect is Supervisor Dan White.”George Moscone was the liberal mayor of San Francisco; Milk was California’s first openly gay elected official. The Human Rights Campaign, a large LGBTQ+ advocacy group, cited Feinstein’s “sterling record of support for the LGBTQ+ community." And it was one of the hardest moments, if not the hardest moment, of my life,” Feinstein told the San Francisco Chronicle in 2008.

Persons: Dianne Feinstein, she's, didn't, Feinstein, Moscone, Harvey Milk, Dan White, ” George Moscone, Milk, California’s, White, Stuart Milk, supervisor's, “, ” Milk, Feinstein’s, ” Feinstein, “ don’t, ”, Joe Biden, Gavin Newsom, George W, Bush, Matthew S, Kierra Johnson, Randy Shilts, “ Milk, Sean Penn Organizations: of Supervisors, grimly, “, AIDS, Navy, Rights, San Francisco, Republican, Los Angeles Times, National, Task Force, San Francisco Chronicle Locations: San Francisco County, San Francisco, California, Los Angeles, Francisco

The two companies had challenged the lower court's decision that they may owe copyright damages that accrued prior to three years before plaintiff Sherman Nealy sued them. Nealy has argued that his Miami record label Music Specialist owns the rights to the 1984 song "Jam the Box" by Tony Butler, also known as Pretty Tony. Nealy said he did not learn of the alleged copyright violations until 2016, and requested damages for copyright infringement that he said started as early as 2008. Circuit Court of Appeals limited copyright damages to the three-year period before a lawsuit is filed. The case has drawn interest from music industry trade groups including the Recording Industry Association of America and National Music Publishers' Association, which also encouraged the court to take up the case.

Persons: Warner Music's, Flo Rida, Sherman Nealy, Nealy, Tony Butler, Tony, Dillard, Flo Rida's, Warner Chappell, Butler, Blake Brittain, Will Dunham Organizations: Warner Music Group Corp, WASHINGTON, U.S, Supreme, Miami, Atlantic Records, Warner, Artist Publishing, Circuit, Appeals, Recording Industry Association of America, National Music Publishers ' Association, Thomson Locations: Ayer, Florida, Atlanta, New York, San Francisco, Washington

[1/2] A smartphone with the Electronic Arts logo is seen in front of a displayed stock graph in this illustration taken September 16, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 29 (Reuters) - Electronic Arts (EA.O) on Friday launched its first soccer game without the FIFA tag, betting its "FC 24" title will maintain the momentum in its best-selling franchise and provide a bulwark against an industry slowdown. That has left "FC 24" without the visibility and marketing heft the FIFA brand enjoyed. EA has tried to boost the appeal of "FC 24" with new features such as cross-platform play and HyperMotion V technology that uses data from real footage to program in-game movements. Analysts also believe the FIFA split should unlock a bigger marketing budget for "FC 24", which has retained licenses to most of the soccer leagues, teams and players.

Persons: Dado Ruvic, Joost Van Dreunen, Michael Pachter, Pachter, Zaheer Kachwala, Shinjini Organizations: REUTERS, Electronic, FIFA, EA, FC, NYU's Stern School of Business, Wedbush Securities, Apex, Thomson Locations: United States, Bengaluru

☆ Craft beer, marriages and air travel: The collateral damage of a government shutdown
▼ + stars: | 2023-09-29 | by ( Alex Seitz-Wald | ) www.cnbc.com time to read: +14 min

Staff, meanwhile, have been forced to put their real jobs on hold to prepare for the looming shutdown. National parksThe National Park Service plans to close its parks and furlough park rangers if the government shuts down on Sunday. During the 2018-2019 shutdown, the parks themselves remained accessible, but without most services. Some presidential libraries would remain open as long as they have sufficient funds, but others would close and research services would be reduced. A shutdown would result in a "data blackout" of critical economic statistics that influence markets and businesses around the globe.

Persons: Donald Trump, that's, Biden, Joshua, Armando L, Sanchez, Pete Buttigieg, they're, White, Treasury Department furloughed, shutdowns Organizations: Yosemite, Fresno Bee, Tribune, Service, Getty, White House Council, Economic Advisers, Management, Staff, National Park Service, Park Service, Department of Interior, NBC, Congressional Research Service, National Zoo, U.S . Holocaust, Museum, National, Science, National Science Foundation, National Institutes of Health, Centers for Disease Control, Prevention, FBI Agents Association, FBI, Air, Transportation Security, LaGuardia, TSA, O'Hare International, State Department, Consular, Education Department, AmeriCorps, Agriculture Department, Assistance, Women, Small Business Administration, Federal Housing Administration, Social, Consumer, Food and Drug Administration, Consumer Product Safety, Environmental Protection Agency, Occupational Safety, Health Administration, Labor, —, Social Security, Medicare, Treasury Department, Foreign Assets Control, Russia Locations: El Capitan, Yosemite Valley, Washington, Civil, U.S, Europe, Southeast Asia, New Mexico, shutdowns, New York, Chicago, Russia, Iran, Ukraine

Sept 28 (Reuters) - U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered so far. The companies have transferred their stakes in the block to Ratio Guyana Limited and Cataleya Energy Limited, which originally held the exploration licenses, Exxon said. A consortium composed of Exxon, Hess and CNOOC Ltd (0883.HK) control all offshore production in Guyana through the Stabroek block. Exxon and Hess were among oil companies that submitted bids in an auction for 14 other oil and gas exploration blocks.

Persons: Exxon, Hess, Kiana Wilburg, Sabrina Valle, Chris Reese, Leslie Adler Organizations: Exxon Mobil, Hess Corp, Exxon, Guyana, Cataleya Energy, Hess, CNOOC Ltd, Qatar Energy, Thomson Locations: deepwaters, HK, Guyana, Stabroek, Georgetown, Houston

☆ Trump and his 3 eldest children will testify at his business-fraud trial. Here's the whole list.
▼ + stars: | 2023-09-28 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Now, she must testify against her father and brothers Donald Trump, Jr., and Eric Trump, who remain as plaintiffs. AdvertisementAdvertisementThere are 25 witnesses in all on James' list, including Trump corporate employees, lenders, insurers, and appraisers, all compelled by subpoena to testify. The list indicates that on their direct defense case, Trump's side, too, intends to call Donald Trump and Eric Trump, who continues to manage the Trump Organization. They do not list Ivanka Trump and Donald Trump, Jr., as witnesses. The trial will determine whether the other defendants, including Eric Trump and Donald Trump, Jr., a Trump Org executive vice president and trustee, are also liable for fraud.

Persons: Trump, Letitia James, —, Donald Trump, Ivanka Trump, she's, Donald Trump , Jr, Eric Trump, Donald Bender, Trump's, Bender, James, Mazars, Jeffrey McConney, Allen Weisselberg, Michael Cohen, Arthur Engoron, Donald Trump's, Engoron Organizations: Service, Trump Organization, Deutsche Bank, Trump Org's, Post, Mazars USA, Trump, New, Trump Org Locations: NYC, Manhattan, Washington, York, New York

☆ Rosebank: Britain approves huge, controversial oil and gas field in the North Sea
▼ + stars: | 2023-09-27 | by ( Laura Paddison | ) edition.cnn.com time to read: +3 min

CNN —The British government approved the development of a huge oil and gas field in the North Sea Wednesday, sealing its commitment to keep producing fossil fuels for decades to come. “We have today approved the Rosebank Field Development Plan which allows the owners to proceed with their project,” said a spokesperson for oil and gas regulator the North Sea Transition Authority in a statement. The spokesperson added the decision had been made “taking net zero considerations into account throughout the project’s lifecycle.” Net zero is where the world removes at least as much planet-heating pollution as it emits. UK Prime Minister Rishi Sunak recently said he wanted to “max out” oil and gas developments in the North Sea and issue hundreds of new licenses. “Even when we’ve reached net zero in 2050, a quarter of our energy needs will come from oil and gas.

Persons: “, ”, Rishi Sunak, Sunak, we’ve, ” Sunak, Tessa Khan, Lyndsay Walsh, Rosebank, Claire Coutinho Organizations: CNN, Transition, International Energy Agency, Oxfam, Shell Locations: Shetland, Scotland, Norwegian, North, Rosebank

☆ UK gives approval for controversial Rosebank oil and gas field development
▼ + stars: | 2023-09-27 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

A view of Sullom Voe Terminal, an oil and gas terminal in the Shetland Islands on September 2021. LONDON — British regulators on Wednesday gave approval for Norway's energy giant Equinor to develop the controversial U.K. offshore Rosebank field in the North Sea, just off the northwest coast of the Shetland Islands. The North Sea Transition Authority said it has also given the necessary consent. Finance Minister Jeremy Hunt said: "We are accelerating renewables and nuclear power, but will still need oil and gas for decades to come — so let's get more of what we need from within British waters." The approval comes after Britain in July confirmed plans to issue hundreds of new oil and gas licenses in the North Sea, despite its stated target to decarbonize all of the national sectors of the economy by 2050.

Persons: Equinor, Claire Coutinho, Jeremy Hunt Organizations: LONDON, Transition, Ithaca Energy, . Energy Security Locations: Shetland Islands, North, Shetland

☆ Will the Trumps lose their homes? NY judge who dissolved Trump Org is cryptic at a tense hearing
▼ + stars: | 2023-09-27 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Trump's lawyers were back on Wednesday before the NY judge who on Tuesday "dissolved" Trump Org. One asked the judge if the LLCs that own the Trumps' homes are covered under the dissolution. But concern – including over the fate of the Trump residences that are held as LLCs under the Trump Org umbrella – was present in abundance. At Wednesday's morning-long hearing, the judge gave Trump's side the 30 days they requested to agree to a receiver. 'You have New York entities that just own a house or a townhouse.

Persons: I'm, —, Donald Trump, Trump, Arthur Engoron, Engoron, Letitia James, Barbara Jones, general's, Chris Kise, Don Jr, Kise, I'd, Judge Jones Organizations: NY, Trump, Service, Trump Organization, Trump Org, York, New York, Trump Tower Locations: Manhattan, New York, York

NEW YORK (AP) — Does a judge’s fraud finding spell the end of Donald Trump ’s real estate empire? He decried Tuesday’s ruling, which shifts control of some of his companies to a court-appointed receiver, as the “KILL TRUMP” decision. As he quizzed the judge, Kise noted that some of the Trump entities being stripped of their business licenses own properties such as Trump Tower and an office building at 40 Wall Street, both in Manhattan. “Is it the court’s position that those assets are now going to be sold or just going to be managed under the direction of the (receiver)?” Kise asked. That would far exceed even the highest value he listed for Mar-a-Lago on his financial statements, $739 million in 2018.

Persons: Donald Trump ’, Tuesday’s, TRUMP, isn't, Judge Arthur Engoron, Letitia James ’, Trump, “, Christopher Kise, he'd, Kise, ” Kise, Engoron, Allison Greenfield, “ I’m, Barbara Jones, who's, she's, James ’, Kevin Wallace, James Organizations: Trump, Trump Organization, NYS, Republican, Mar Locations: New York, New, Manhattan, LLCs, Lago, Palm Beach , Florida, Sisak, x.com

☆ This cutting-edge British chip designer's shares are set to soar over 100%, says Jefferies
▼ + stars: | 2023-09-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

London-listed semiconductor company Alphawave Semi 's stock is set to double over the next 12 months, according to Jefferies. The investment bank has set a price target of £2.70 (or 270p) on Alphawave's shares, which implies an upside of 112% from the current level. The bullish view comes despite Jefferies noting Alphawave's "disappointing" profit margins and negative free cash flow in the first half of 2023. According to the investment bank, Alphawave has already achieved four design wins using the advanced " 3nm" manufacturing process, two of which are with major U.S.-based cloud computing giants. The investment bank expects shares to rise by more than 40% over the next 12 months to £1.80 (or 180p) a share.

Persons: Jefferies, Alphawave's, Alphawave, Janardan Menon, Simon Coles Organizations: Jefferies, U.S . Big Tech, AWS, Microsoft, Big Tech, Barclays Locations: U.S, Toronto, Canada, London, Cambridge, Europe

☆ Trump's 'corporate death penalty' explained: veteran Manhattan fraud prosecutors describe what's next
▼ + stars: | 2023-09-27 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

A Manhattan judge on Tuesday found Trump and his real-estate company liable for fraud. The judge ordered Trump Organization's New York corporate charters revoked immediately. AdvertisementAdvertisementExperts are calling it the "corporate death penalty." AdvertisementAdvertisementTrump continues to own his buildings, agreed Moscow and another veteran Manhattan financial crimes prosecutor, Diana Florence, now also in private practice. Trump can't tell the receiver what to do," she said.

Persons: Trump, —, Donald Trump, Letitia James, James, it's, NRA –, John Moscow, Arthur Engoron's, Arthur Engoron, Baach Kaufmann Middlemiss, Diana Florence, Florence, what's, It'll Organizations: Manhattan, Trump Organization's New, Service, Trump Organization, NRA, Trump Organization . New, New York, New, Trump Locations: Trump Organization's New York, Manhattan, New York, York, Moscow

☆ US to indefinitely extend China waiver for South Korean chipmakers -Yonhap
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSEOUL, Sept 27 (Reuters) - The U.S. is expected to indefinitely extend a waiver granted to South Korean chipmakers Samsung Electronics (005930.KS) and SK Hynix (000660.KS) on needing licenses to bring U.S. chip equipment into China, Yonhap news agency reported on Wednesday. The U.S. Commerce Department has discussed details with the South Korean chipmakers on which equipment could be used in China, said Yonhap, citing unnamed sources, adding that the U.S. would make related announcements as early as this week. Last year, the chipmakers had received authorisation from the U.S. Commerce Department to supply equipment needed for chip production in China for a year without seeking additional licenses. Samsung Electronics and SK Hynix declined to comment. Samsung Electronics has NAND flash memory production in Xian, China, whereas SK Hynix has DRAM chip production in Wuxi and NAND Flash production in Dalian, in which both companies have invested billions of dollars.

Persons: Florence Lo, Yonhap, 1,353.6600, Joyce Lee, Heekyong Yang, Muralikumar Organizations: REUTERS, Rights, South, Samsung Electronics, SK Hynix, U.S . Commerce Department, South Korean, U.S . Department of Commerce, Samsung, U.S, of Commerce, Thomson Locations: Rights SEOUL, U.S, South Korean, China, Xian, Wuxi, Dalian, TrendForce

NEW YORK (AP) — A judge ruled Tuesday that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House. Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but several others remain. “Today, a judge ruled in our favor and found that Donald Trump and the Trump Organization engaged in years of financial fraud," James said in a statement. James’ lawsuit is one of several legal headaches for Trump, the Republican front-runner in next year's election. James’ lawsuit does not carry the potential of prison time, but could complicate Trump's ability to transact real estate deals.

Persons: —, Donald Trump, Judge Arthur Engoron, Letitia James, Engoron, Christopher Kise, ”, Kise, Eric, Engoron's, Eric Trump, “, James ’, Trump, James, He'll, James wasn’t, ” Trump, Allen Weisselberg, Michael Cohen, Eric Tucker, Jill Colvin, Bernard Condon, David B, Caruso Organizations: White, New York, Trump Organization, Trump, New, Democrat, Mar, Republican, D.C, Buffalo Bills, Trump Foundation, Associated Press, Washington , D.C Locations: New York, United States, Lago, Florida, Manhattan, Georgia, Washington, Washington ,, Summerville , South Carolina

Hong Kong/Taipei CNN —China and the European Union have agreed to exchange information on export controls as part of efforts to dial down tension over trade imbalances and geopolitical issues. I am glad that we made progress in addressing some market access issues,” Valdis Dombrovskis said in a statement. Hours before meeting He on Monday, Dombrovskis said China’s trade practices have forced the European Union to become more assertive in its dealings with the world’s second largest economy. China recently slapped export curbs on two semiconductor materials in a warning shot to Europe and the United States, after they imposed restrictions on China’s access to advanced chipmaking equipment. Moscow has become increasingly dependent on Beijing since its full-scale invasion of Ukraine in 2022, with trade between Russia and China soaring this year.

Persons: rebalancing, ” Valdis Dombrovskis, Dombrovskis, ”, ” Jorge Toledo, it’s, ” Dombrovskis, — Laura Organizations: Taipei CNN —, European Union, European Commission, EU, Union, Tsinghua University, China, Reuters Locations: China, Hong Kong, Taipei, Taipei CNN — China, Beijing, ”, EU, Europe, United States, Ukraine, Moscow, Russia

☆ Childcare is getting even more expensive as providers battle landlords and zoning regulations at a time when federal funding is running out
▼ + stars: | 2023-09-26 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

Home-based childcare providers are particularly vulnerable. AdvertisementAdvertisementChildcare costs are soaring, particularly in major US cities — and zoning regulations are making it worse. The financial situation for providers is about to get worse as the nation nears the end of federal pandemic relief funding for childcare providers, which is predicted to disrupt care for 3 million children. AdvertisementAdvertisementLandlords often discriminate against renters wanting to open a childcare centerAnother insidious problem is landlord discrimination against childcare providers. The Washington, DC, city council recently passed a bill that would ban discrimination against home-based childcare providers by condo associations.

Persons: —, they're, Charles Gardner, Laurie Furstenfeld, Furstenfeld Organizations: Service, George Mason University, Care Law Locations: California, Berkeley , California, . Oregon , Oklahoma , Colorado , Connecticut, Montana, The Washington, DC

☆ UPS says it will hire 100,000 seasonal workers for the holiday rush — but don't expect that $170,000 pay package
▼ + stars: | 2023-09-26 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

UPS plans on hiring 100,000 seasonal workers to beef up its workforce for the holiday season. Working as a seasonal employee can be the first step toward a $170,000-per-year pay package. Thanks to a new contract for UPS workers that was negotiated by the Teamsters union, some full-time UPS drivers are now earning a pay package worth $170,000 a year, including benefits. Hourly pay will start at $23 for seasonal package drivers and $21 for package handlers. Despite increased pay for the seasonal UPS workers, the job market is still tight, and it's uncertain how challenging it will be to find workers, Lavery said.

Persons: —, Matt Lavery, Lavery, Gen Z, it's Organizations: Service, UPS, Teamsters, Federal Reserve

☆ A Tale of Family Intrigue and Inheritance
▼ + stars: | 2023-09-25 | by ( Dana Thomas | ) www.nytimes.com time to read: +1 min

The French fashion designer Pierre Cardin liked to brag about all he had accomplished since he started his brand in 1950. “All the couturiers were influenced by me,” he said. “Everyone knows Pierre Cardin.”What he didn’t like to talk about was what would become of his company after he was gone. Indeed, three months before Mr. Cardin died in December 2020, at 98, after a bout of Covid-19, he told a Paris Match reporter: “After my death? His longtime business and life partner, André Oliver, died in 1993.

Persons: Pierre Cardin, Cardin, ”, Cardin’s, grandnephews, André Oliver Locations: Marigny, France, Paris

A woman walks in the Chevron office as the U.S. government granted a six-month license allowing Chevron to boost oil output in U.S.-sanctioned Venezuela, in Caracas, Venezuela December 2, 2022. Current oil flows mark a 70%-increase from average output in 2022. But to go further requires large specialized drilling rigs that might be difficult to find in Venezuela, the people said. The California-based company's campaign calls for addition of at least two powerful drilling rigs. Other foreign oil companies in joint ventures with PDVSA also have begun early planning for possible drilling campaigns.

Persons: Gaby Oraa, Petropiar, PDVSA, Chevron, Marianna Parraga, Sabrina Valle, Matt Spetalnick, David Gregorio Our Organizations: Chevron, REUTERS, Companies, Chevron Corp, OPEC, Treasury, U.S . Office, Foreign Assets, U.S, PDVSA, Thomson Locations: Venezuela, Caracas, HOUSTON, Washington, The California, Lake Maracaibo, U.S

☆ Legendary investor Jeremy Grantham calls Elon Musk a 'wonderful propagandist' and warns home prices will fall 30%. Here are the best 10 quotes from a new interview.
▼ + stars: | 2023-09-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

Legendary investor Jeremy Grantham warned that home prices are doomed to fall amid high mortgage rates. What the stock market loves"It loves low inflation. The crucial ingredient to a stock market bubble"The surge that took place in late 2020 finally had the characteristics that have been missing for 10 years. [NFTs], meme-stocks, QuantumScape is the biggest scale of any bubble in [stock market] history." That's the biggest bubble I think in history, including the South Sea bubble."

Persons: Jeremy Grantham, Tesla's Elon Musk, Elon Musk's salesmanship, Grantham, Josh Brown, Michael Batnick, I've Organizations: Service, Elon, Ritholtz, Stock Locations: Wall, Silicon, Beijing, Shanghai, Sydney, Adelaide, Canada, London, Toronto, Boston, Japan, Manhattan, Downtown Manhattan, Tokyo

☆ UK regulator says it may clear Microsoft's new Activision Blizzard takeover offer
▼ + stars: | 2023-09-22 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. LONDON — The U.K.'s competition regulator on Friday said Microsoft 's restructured takeover proposal of Activision Blizzard , submitted in August, "opens the door to the deal being cleared." The U.K. Competition and Markets Authority had blocked the Redmond tech giant's initial $69 billion transaction, first put forward in January 2022, on concerns that it would restrict competition in the nascent cloud gaming sector. Critically, cloud gaming could eliminate the need for costly specialized consoles, allowing players to access the games on PCs, mobile phones and TVs. EU officials were first to clear the deal in May, after Microsoft offered concessions to the tune of royalty-free licenses to cloud gaming platforms to stream Activision games that a buyer has purchased.

Persons: —, Brad Smith, We're, Bobby Kotick Organizations: Microsoft, Activision Blizzard, LONDON, Competition, Markets Authority, Redmond, Activision PC, Activision, Ubisoft Entertainment, CMA, Ubisoft, Netflix, European Union, U.S . Federal Trade Commission Locations: San Francisco

☆ MGM Resorts is back online after a huge cyberattack. The hack might have cost the Vegas casino operator $80 million.
▼ + stars: | 2023-09-21 | by ( Will Gendron | Associated Press | ) www.businessinsider.com time to read: +3 min

A recent cyberattack by a notorious hacking group targeted MGM, disrupting its Las Vegas locations. The hack sheds light on the way cybersecurity can play out in the real world. Rival casino owner Caesars Entertainment also disclosed last week to federal regulators that it was hit by a cyberattack Sept. 7. But Moody also noted that MGM Resorts reports annual revenues above $14 billion, which would mean it averages at least $270 million in revenues per week. Experts said the attacks exposed critical cybersecurity weaknesses at MGM and Caesars and shattered an image of casino invulnerability.

Persons: Gregory Moody, Moody, Christopher Budd, There's Organizations: MGM, Service, MGM Resorts, Aria, Caesars Entertainment, Social, University of Nevada, Caesars Locations: Wall, Silicon, Las Vegas

☆ US has no evidence Huawei can mass produce advanced smartphones
▼ + stars: | 2023-09-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsWASHINGTON, Sept 19 (Reuters) - The U.S. has no evidence that Chinese manufacturer Huawei can produce smartphones with advanced chips in large volume, U.S. Commerce Secretary Gina Raimondo said on Tuesday. "We don't have any evidence that they can manufacture seven-nanometer (chips) at scale," Raimondo said at a U.S. House hearing, referencing an advanced chip. Raimondo told the House Science Committee hearing she was upset by the advanced Huawei smartphone report. Some Republicans think the Commerce Department should end all technology exports to Huawei and SMIC. Republican Representative Darrell Issa said at the hearing Raimondo was in China when the new Huawei phone was announced.

Persons: Gina Raimondo, Aly, Raimondo, Darrell Issa, Issa, Jake Sullivan, David Shepardson, Chizu Nomiyama, Josie Kao Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, U.S, Huawei, . Commerce, Semiconductor Manufacturing International Corp, HK, Commerce Department, House, Republicans, House Foreign Affairs, Energy, Commerce, Armed Services, Republican, White, National, Thomson Locations: Shanghai Pudong, Shanghai, China, U.S

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