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☆ The Adobe exec behind the Figma deal expresses frustration over slow pace of regulatory approval
▼ + stars: | 2023-10-17 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Adobe has said it expects to close the Figma deal in 2023. Adobe has agreed to pay Figma $1 billion if regulators reject the deal, or if it isn't completed by mid-March 2024. Tools for creative expression, documents and marketing all represent growth opportunities for Adobe, and Figma is the fourth leg of the stool, Wadhwani said. Since revealing its intent to buy Figma, Adobe has been busy releasing and promoting tools for generative artificial intelligence that can develop images and other content in response to a few words of human input. Adobe replied that "in an innovative and dynamic market XD cannot be considered a 'material' competitor to Figma."

Persons: David Wadhwani, they've, Wadhwani, there's, Dylan, Figma's, Adobe Organizations: Adobe, WSJ Tech, U.S . Department of Justice, European Union, Microsoft, Activision Blizzard, U.S . Federal Trade Commission, United Kingdom's, Markets Authority, Figma Locations: Laguna Beach, Calif, United Kingdom, San Francisco

Political Cartoons View All 1211 ImagesThe futures for the S&P 500 and Dow industrials were up less than 0.1%. On Monday on Wall Street, the S&P 500 climbed 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to revert to longer-term fundamentals. FactSet estimates that earnings per share at S&P 500 companies likely rose 0.4% in the last quarter from a year earlier. Shares of Lululemon jumped 10.3% in their first trading session after S&P Dow Jones Indices said the apparel company will join its widely tracked S&P 500 index.

Persons: Germany's DAX, Dow industrials, Antony, Blinken, ” Robert Carnell, Nicholas Mapa, Brent, ”, Mark Hackett, Johnson, Tesla, Charles Schwab, Dow Organizations: CAC, Nikkei, Hamas, Dow, Nasdaq, ING Economics, New York Mercantile Exchange, Treasury, Financial, Nationwide, Bank of America, Federal Reserve, Dow Jones, Activision Blizzard, Microsoft, U.S Locations: BANGKOK, East, Paris, Asia, Hong Kong, Shanghai, Australia, Thailand, Israel, Gaza, Lebanon, Iran

☆ Microsoft CEO Satya Nadella says he weighs 2 factors when considering making an acquisition
▼ + stars: | 2023-10-17 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Satya Nadella has orchestrated a slew of acquisitions at Microsoft since becoming CEO in 2014. His remarks come on the heels of Microsoft closing its $69 billion Activision Blizzard deal. AdvertisementAdvertisementSatya Nadella has closed a number of deals for Microsoft in his tenure as CEO, and he says there are two key factors he considers when eyeing possible acquisitions. Nadella discussed his thought process for acquisitions while speaking at the Axel Springer Award ceremony in Berlin on Tuesday. Axel Springer is Insider's parent company.

Persons: Satya Nadella, Axel Springer's, —, Nadella, Axel Springer Organizations: Microsoft, Activision Blizzard, Service, Activision, Mojang Studios Locations: Berlin

☆ Meet Microsoft games chief Phil Spencer, who helped drive $69 billion Activision deal
▼ + stars: | 2023-10-17 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

When Phil Spencer took the helm of Microsoft's gaming division in 2014, he and newly appointed CEO Satya Nadella weren't sure if the company should keep investing in the Xbox, which was losing to Sony. Less than a decade later, Spencer and the Xbox are at the center of the software company's largest acquisition ever. Coyner, who left Microsoft in 2018, said he's confident that smart people at the company can explain the high price. He told an interviewer from gaming website Shacknews in 2020 that he only got to become head of Microsoft's gaming division because so many other people had left, and he was still there. In the most recent fiscal year, gaming revenue was $15.5 billion, accounting for 7.3% of total Microsoft sales.

Persons: Phil Spencer, Satya Nadella weren't, Spencer, Don Coyner, it's Organizations: Sony, Activision, Microsoft, European Commission, Federal Trade, FTC, Nintendo Locations: U.S, San Francisco

☆ Hollywood insiders are bracing for M&A activity to make a comeback, as 10 experts reveal the deals they're predicting
▼ + stars: | 2023-10-17 | by ( Reed Alexander | Lucia Moses | ) www.businessinsider.com time to read: +12 min

"The unknown is hard to transact in," Sam Powers, the global head of technology, media, and telecommunications for Bank of America, told Insider. Microsoft's $69 billion acquisition of Activision , which was completed Thursday, has also put media and tech M&A back in the spotlight. "People have been holding their breath in nervous anticipation" about the idea of tech buying big media , one investor told Insider. Private-equity bets on media and Hollywood have seen mixed resultsPrivate-equity firms may have the cash to finance major media acquisitions, but they're reckoning with market volatility. Are you a Hollywood insider?

Persons: Hollywood dealmakers, Jonathan Handel, Sam Powers, Bob Iger, —, Byron Allen, Greg Doherty, Iger, Disney's, Byron Allen —, Allen, Disney, it's, Handel, It's, you've, Reese Witherspoon, Dave Kotinsky, Moonbug, Reese Witherspoon's, Jeff Zucker, Abu, Tom Staggs, Kevin Mayer, Lucia Moses, Reed Alexander Organizations: Hollywood, Puck News, Bank of America, SAG, Writers Guild of America, Disney, ESPN, Activision, Byron Allen The Weather, Wall Street shareholders, Bureau of Labor Statistics, Hulu, ABC, Nexstar Media Group, Allen Media Group, Weather, Lionsgate, Starz, Paramount, BET, Warner Bros, Games, Disney Digital Network, Maker Studios, Observers, Comcast, Paramount Global, Tech, MGM, Microsoft, Netflix, Apple, RedBird Capital Partners, RedBird IMI, Private, SP, G Global Market Intelligence, Bloomberg, Media, Apollo Global Management, Yahoo Locations: Hollywood, Blackstone, Abu Dhabi, lmoses@insider.com, ralexander@insider.com

☆ Wall Street ends up on earnings optimism; eyes remain on Middle East
▼ + stars: | 2023-10-16 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Consumer discretionary (.SPLRCD) led gains among S&P 500 sectors, although all of the sectors were higher on the day. Third-quarter earnings for S&P 500 companies are estimated to have increased 2.2% year-over-year, up from an estimated increase of 1.3% a week earlier, according to LSEG data Friday. At the same time, global leaders are trying to make sure that the Middle East conflict "remains contained," she said. The S&P 500 posted 11 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 33 new highs and 206 new lows.

Persons: Brendan McDermid, Charles Schwab, Russell, Goldman Sachs, Morgan Stanley, Johnson, Quincy Krosby, Patrick Harker, Lululemon, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Major U.S, Bank of America, Johnson, Netflix, Dow Jones, York, Philadelphia Fed, Activision Blizzard, NYSE, Thomson Locations: New York City, U.S, Major, Gaza, Charlotte , North Carolina, Bengaluru

Consumer discretionary (.SPLRCD) and materials (.SPLRCM) led the gains across major S&P 500 sectors, while utilities (.SPLRCU) and energy stocks (.SPNY) lagged behind. Third-quarter earnings for S&P 500 companies are estimated to grow 2.2% year-on-year, LSEG data showed on Friday. Investors also await economic data including retail sales for September and the Philly Fed Business Index for October later this week. Lululemon Athletica (LULU.O) added 9.6% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard . The S&P index recorded nine new 52-week highs and six new lows, while the Nasdaq recorded 29 new highs and 148 new lows.

Persons: Brendan McDermid, Charles Schwab, Dow, Ross Mayfield, Baird, Goldman Sachs, Morgan Stanley, Johnson, Jerome Powell's, Patrick Harker, Lululemon, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Moderna, Dow, Nasdaq, Microsoft, Bank of America, Johnson, Tesla, Netflix, Investors, Philly, Dow Jones, Federal, Fed, Philadelphia Fed, Apple, Activision Blizzard, NYSE, Thomson Locations: New York City, U.S, Israel, Gaza, New York State, China, Bengaluru

The logo for Lululemon Athletica is seen at a store in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 16 (Reuters) - Lululemon Athletica's (LULU.O) stock jumped by more than 10% to an almost two-year high on Monday buoyed by the addition of the Canadian sportswear maker into the Wall Street benchmark S&P 500 index. Inclusion of a company into the S&P 500 usually causes demand for its shares to jump as mutual fund managers and other institutional investors tracking the index begin adding the stock to their portfolios. The stock is now up nearly 30% year-to-date, giving the company a market capitalization of more than $52 billion. In September, Lululemon agreed to a deal with Peloton Interactive (PTON.O) to become the primary athletic-apparel maker for the U.S. fitness bike manufacturer.

Persons: Andrew Kelly, Dow Jones, Lululemon, Chibuike Oguh, Lance Tupper, Sharon Singleton Organizations: REUTERS, Activision Blizzard, Microsoft, Interactive, Lululemon, Thomson Locations: Manhattan , New York, U.S, New York

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The S&P 500 and the Nasdaq dropped on Friday as deteriorating consumer sentiment data and the Middle East conflict kept investors away from riskier bets and overshadowed some upbeat earnings from big U.S. banks. Third-quarter earnings for the S&P 500 companies are estimated to grow 2.2% on an annual basis, LSEG data showed. Of the 32 S&P 500 companies that have reported results, 87.5% have surpassed expectations compared with the long-term average of 66.5%. Rival Moderna (MRNA.O) dipped 5.1%Lululemon Athletica (LULU.O) added 5.8% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard (ATVI.O).

Persons: Brendan McDermid, Antony Blinken, Pissouros, Goldman Sachs, Morgan Stanley, Johnson, Charles Schwab, Patrick Harker, Jerome Powell, Harker, Austan Goolsbee, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Reuters, Pfizer, Dow, Nasdaq, Treasury, XM, Bank of America, Johnson, Tesla, Netflix, Philly, New York, Philadelphia Fed, Federal, Chicago Fed, Dow e, Nvidia, Activision Blizzard, Thomson Locations: New York City, U.S, China, Israel, Gaza, United States, Bengaluru

☆ Goldman Sachs says this global tech stock will soar as 'gaming-as-a-service' takes off
▼ + stars: | 2023-10-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Investors seeking exposure to Japan's growing gaming industry should look at technology and entertainment behemoth Sony , according to Goldman Sachs. Goldman expects shares of Sony Group Corporation to rise by 25% to 16,000 yen ($107) over the next 12 months. In addition, Goldman Sachs said there was significant growth potential for Crunchyroll, Sony's anime streaming service based in California, which it acquired in 2017. "Our team estimates that overseas markets will account for 80% of Japanese anime sales by 2036," the bank's report said. As earnings contributions from Crunchyroll and GaaS titles become more apparent starting in fiscal year 2025, Goldman Sachs sees an increase in consensus earnings estimates and valuation multiples.

Persons: Goldman Sachs, FactSet Organizations: Sony, Bungie, Goldman, Sony Group Corporation, New York Stock Exchange, SONY, Microsoft, Activision Blizzard Locations: Tokyo, California

☆ Lululemon to join the S&P 500 Wednesday. How to play the stock right now
▼ + stars: | 2023-10-16 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions to Lululemon from investors and analysts following the athleisure clothing company's ascension to the S & P 500 effective Wednesday. The i ndex change was announced Friday . Lululemon is replacing Activision Blizzard, which was acquired by Microsoft Friday in a much-delayed, $69 billion deal. LULU stock is up 25% year-to-date and joins 22 other S & P 500 companies that are officially based outside of the U.S. — and the only one based in Canada. LULU soared during Monday's session to close the trading day up 10.3%.

Persons: Lululemon, LULU Organizations: Activision Blizzard, Microsoft, — Locations: Canada

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

☆ Stocks making the biggest moves premarket: Pfizer, Lululemon, Manchester United, Rite Aid and more
▼ + stars: | 2023-10-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Pfizer , Moderna , BioNTech — Shares of Pfizer dropped 1.3% after the company slashed its full-year revenue guidance by $9 billion, noting waning demand for its Covid treatment and vaccine. Following the guidance cut, Jefferies upgraded Pfizer on Monday, citing an attractive buying opportunity. Vaccine markers Moderna and BioNTech also dropped premarket, losing 4.1% and 5%, respectively. Colgate-Palmolive — The consumer products stock gained more than 1% in premarket trading after Stifel upgraded Colgate-Palmolive to buy from hold. The firm cited the stock's attractive valuation and the rapid and profitable growth of TAL's non-academic tutoring business as catalysts.

Persons: Jefferies, BioNTech, premarket, Morgan Stanley, Jim Ratcliffe, Jeffrey Stein, Dow, Charles Schwab, CNBC's Hakyung Kim, Jesse Pound, Tanaya Macheel, Michelle Fox Theobald, Lisa Han Organizations: Pfizer, Moderna, BioNTech, Colgate, Palmolive, Manchester United, Wall Street, . Rite, Dow Jones, Activision, Microsoft, TAL Education Group, UBS Locations: New Jersey

☆ Stocks making the biggest moves midday: Lululemon, Pfizer, News Corp, Charles Schwab and more
▼ + stars: | 2023-10-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Pfizer — Shares rallied 3.61% following an upgrade by Jeffries to buy from hold. The firm sees an attractive buying opportunity after Pfizer cut its full-year guidance last week on slumping vaccine sales. Alignment Healthcare — Shares soared 17.22% after being upgraded to strong buy from outperform by Raymond James. Tal Education — The education technology stock popped 6.73% after UBS upgraded shares to a buy rating, citing an attractive valuation and tailwinds from Tal Education's nonacademic tutoring business. Greenbrier — Shares of the transportation services company gained 3.81% Monday morning after Susquehanna upgraded the stock to a positive rating.

Persons: Dow, Lululemon, Jeffries, Novavax, Raymond James, Morgan Stanley, Jim Ratcliffe, Sheikh Jassim bin Hamad al Thani, Glazer, Tal Education's, Charles Schwab —, Schwab, Albemarle —, Albemarle, Bascome, Henry Schein —, Yun Li, Fred Imbert, Hakyung Kim, Samantha Subin, Alex Harring, Pia Singh, Lisa Han Organizations: Dow Jones Indices, Activision, Microsoft, Pfizer —, Pfizer, Moderna, News Corp, Reuters, Street, Street Journal, Systems, Manchester United, Tal Education, UBS, Liontown, Greenbrier —, Susquehanna Locations: BioNTech, Greenbrier

☆ It's official: 2023 is the year of Microsoft's glow-up
▼ + stars: | 2023-10-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its big bet on AI appears to be paying off while blockbuster deals are getting greenlit. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementIt's a history that is firmly behind the company: 2023 looks set to be the year Microsoft completes its glow-up. But by and large, 2023 has been a remarkable year for Microsoft.

Persons: —, Steve Ballmer, Bill Gates, Satya Nadella, Sam Altman, Nadella, Bing Organizations: Microsoft, Service, Apple, Google, The, Activision Blizzard, Markets Authority, Sky News, IRS, Treasury Locations: Ballmer

The deal was the biggest test of the CMA's global power to take on the tech giants since Britain left the European Union. "The new deal will stop Microsoft from locking up competition in cloud gaming as this market takes off, preserving competitive prices and services for UK cloud gaming customers," it said in a statement. Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. Activision Blizzard said: "The CMA's official approval is great news for our future with Microsoft, and we look forward to becoming part of the Xbox Team." The European Commission said the new commitments given by Microsoft to the CMA did not interfere with its EU commitments.

Persons: Dado Ruvic, Jeremy Hunt, Sarah Cardell, Ben Barringer, Brad Smith, Activision Blizzard, Paul Sandle, Yadarisa Shabong, Aditya Soni, Foo Yun Chee, Varun H, Kate Holton, Sonali Paul, Jane Merriman, Sherry Jacob, Phillips Organizations: CMA, Microsoft, LONDON, Activision Blizzard, Sony, Activision, Competition, Markets Authority, Ubisoft Entertainment, Britain, European Union, PlayStation, U.S . Federal Trade Commission, FTC, REUTERS, British, Finance, Xbox, European Commission, Thomson Locations: Britain, Cheviot, London, Bengaluru, Foo

☆ Microsoft closes $69 bln deal for 'Call of Duty' publisher Activision
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: 1 min

Wang Yawei, a star fund manager in China, has been detained by authorities since August and is under investigation, according to three sources, adding to the list of top financial executives caught up in a widening corruption crackdown this year. 10:51 AM UTC

Persons: Wang Yawei Locations: China

☆ Microsoft’s Activision Buy Extends Nadella’s Decade of Deals
▼ + stars: | 2023-10-13 | by ( Tom Dotan | Sarah E. Needleman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/microsofts-activision-deal-gets-green-light-from-u-k-regulator-95fd688a

Persons: Dow Jones Organizations: activision

☆ Microsoft Closes $75 Billion Activision Blizzard Deal
▼ + stars: | 2023-10-13 | by ( Tom Dotan | Kim Mackrael | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: activision

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The deal was blocked in April by the Competition and Markets Authority (CMA) which said it could give the U.S. computing giant a stranglehold over the nascent cloud gaming market. The deal was the biggest test of the CMA's global power to take on the tech giants since Britain left the European Union. "The new deal will stop Microsoft from locking up competition in cloud gaming as this market takes off, preserving competitive prices and services for UK cloud gaming customers," it said in a statement. The U.S. Federal Trade Commission opposed the deal but after failing to stop it, the CMA was left standing alone.

Persons: Dado Ruvic, Jeremy Hunt, Sarah Cardell, Ben Barringer, Brad Smith, Activision Blizzard, Paul Sandle, Yadarisa, Foo Yun Chee, Varun H, Kate Holton, Sonali Paul, Jane Merriman Organizations: Microsoft, Activision, REUTERS, CMA, LONDON, Activision Blizzard, Competition, Markets Authority, Ubisoft Entertainment, Britain, European Union, PlayStation, Sony, U.S . Federal Trade Commission, FTC, British, Finance, Xbox, European Commission, Thomson Locations: Britain, Cheviot, London, Bengaluru, Foo

☆ Microsoft’s Activision Deal Gets Green Light From U.K. Regulator
▼ + stars: | 2023-10-13 | by ( Kim Mackrael | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: activision

☆ Microsoft’s $75 Billion Activision Blizzard Deal Gets Green Light From U.K. Regulator
▼ + stars: | 2023-10-13 | by ( Kim Mackrael | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: activision

☆ Microsoft-Activision: Ubisoft deal helps win Britain's nod
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 13 (Reuters) - Britain's antitrust regulator on Friday cleared Microsoft's (MSFT.O) acquisition of "Call of Duty" maker Activision Blizzard (ATVI.O) after the restructured deal substantially addressed its earlier concerns. In August, Activision agreed to sell its non-European streaming rights to Ubisoft Entertainment (UBIP.PA) to get the biggest deal yet in video-gaming past Britain's Competition and Markets Authority (CMA). "We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming industry worldwide," Microsoft President Brad Smith said. The company had in July extended the deadline to close the deal by Oct. 18. Here is a snapshot of key events in the Microsoft-Activision saga:Reporting by Tiyashi Datta, Jaspreet Singh and Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva, Shinjini Ganguli and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Brad Smith, Tiyashi Datta, Jaspreet Singh, Yadarisa, Anil D'Silva, Shinjini Organizations: Activision, Ubisoft Entertainment, Markets Authority, Microsoft, Thomson Locations: Bengaluru

Plus, it will be “productive for the gaming industry as a whole and healthy for competition in the gaming market,” he said. In the meantime, the U.K. regulator was the last major obstacle to the transaction going through. British regulators had initially blocked the transaction over concerns Microsoft could withhold Activision titles from the cloud gaming market. One factor was the EU’s approval, granted after Microsoft promised to automatically license Activision titles royalty-free to cloud gaming platforms. But the CMA's flip-flopping makes the U.K. regulator look “weak and indecisive,” he said.

Persons: Activision Blizzard, Candy, Overwatch —, Brad Smith, Bobby Kotick, Joshua Chapman, ”, Sarah Cardell, Max von Thun, ” von Thun, Matt O’Brien Organizations: —, Activision, Markets, Microsoft, Xbox, Union, Sony, U.S . Federal Trade Commission, FTC, Ubisoft Entertainment, U.K, PlayStation, European Commission, Open Markets, CMA, AP Locations: Konvoy, U.K, Europe, Providence , Rhode Island

Signage is seen at the Federal Trade Commission headquarters in Washington, D.C., U.S., August 29, 2020. In the United States, the U.S. Federal Trade Commission (FTC) has also fought the deal, and has an argument scheduled before an appeals court on Dec. 6. The agency said on Friday that it remained focused on that appeal. "The FTC continues to believe this deal is a threat to competition." Reporting by Diane Bartz; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Victoria Graham, Diane Bartz, Susan Fenton Organizations: Federal Trade Commission, Washington , D.C, REUTERS, Rights, U.S . Federal Trade Commission, Activision, Ubisoft, Ubisoft Entertainment, Microsoft, Thomson Locations: Washington ,, Britain, United States

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