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☆ Microsoft says it worked hard to address regulatory concerns over Activision Blizzard deal
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft says it worked hard to address regulatory concerns over Activision Blizzard dealBrad Smith, president and vice chair of Microsoft, discusses the company's merger agreement with Activision Blizzard. The two companies had originally agreed to complete the transaction by July 18, but regulatory pushback from the U.S. and the U.K. delayed the takeover.

Persons: Brad Smith Organizations: Microsoft, Activision Blizzard Locations: U.S

☆ Microsoft's president on fresh bid for Activision Blizzard: 'Up to the regulators' to decide
▼ + stars: | 2023-08-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

watch nowMicrosoft says it "really tried" to take the concerns of U.K. regulators to heart, before launching its fresh bid to take over Activision Blizzard — and it's now up to the regulators to decide whether that path is clear. "I think we need to let the regulators speak for themselves," Microsoft's vice-chairman and president Brad Smith told CNBC in an exclusive interview. Last Tuesday, Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. Brad Smith Microsoft's vice-chairman and presidentOn regulatory concerns, Smith said: "We haven't tried to dismiss them.

Persons: it's, Brad Smith, we've, Brad Smith Microsoft's, Smith, haven't, We've, CNBC's Martin Soong Organizations: Microsoft, Activision Blizzard, CNBC, Activision, Markets Authority, Nurphoto, Activision PC, Ubisoft, CMA Locations: New Delhi

☆ Microsoft Offers Big Concession to Secure Activision Deal
▼ + stars: | 2023-08-26 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

AI’s Thorniest Issues Will Be Addressed in Court Congress is discussing ways to regulate artificial intelligence. But while they debate the best approaches, courts may be the ones to decide some of the most important questions around AI development. WSJ reporter Ryan Tracy joins host Zoe Thomas with a breakdown of multiple lawsuits involving AI and how they could shape the landscape of this burgeoning industry. Illustration: Amogh Alva Vaz

Persons: Will, Ryan Tracy, Zoe Thomas, Amogh Alva Vaz

☆ Opinion | Protecting Competition Is a Vital Goal
▼ + stars: | 2023-08-26 | by ( The Editorial Board | ) www.nytimes.com time to read: +3 min

Compare the United States with Europe, where authorities have more successfully resisted the consolidation of major industries. The economist Thomas Philippon wrote in a 2019 book about the decline of competition in the United States that the American economy would be roughly $1 trillion larger than it is today if the United States had simply maintained the level of competition that prevailed in 2000. The turn toward stringency reflects some of what has been learned in recent years about the effects of corporate concentration, for example, in a new emphasis on protecting workers. The guidelines treat the economic analysis of corporate concentration as a valuable source of information, rather than the measuring stick by which decisions are made. Mr. Kanter said his department is focused on protecting competition because that is the goal that Congress enshrined in law and he is in the law enforcement business.

Persons: Thomas Philippon, Jonathan Kanter, Lina Khan, Kanter, “ We’re, ” Organizations: Amazon, European Union, Antitrust, Federal Trade Commission, Microsoft, Activision Blizzard Locations: United States, Europe

☆ Trump Snubs GOP Debate, Joins Tucker Carlson for Interview on X
▼ + stars: | 2023-08-24 | by ( ) www.wsj.com time to read: 1 min

Microsoft Offers Big Concession to Secure Activision DealMicrosoft has offered new concessions to win over U.K. regulators as it tries to close its $75 billion deal for games publisher Activision Blizzard. WSJ Heard on the Street columnist Dan Gallagher joins host Zoe Thomas to discuss what the tech giant is willing to give up and why this is a strategic long-term bet for Microsoft. Photo: Michael Ciaglo/Bloomberg News

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ Goldman’s list of hedge fund favorite stocks is beating the market. Here’s what’s in it
▼ + stars: | 2023-08-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

A group of hedge funds' favorite stocks trounced the broader market, thanks to the strength of mega-cap tech, according to Goldman Sachs. It then compiled a basket of the most popular long positions, dubbed Goldman's Hedge Fund VIP basket, comprising 50 stocks that most frequently appear among the largest 10 holdings of hedge funds. The VIP basket has returned 22% this year as of mid-August, outperforming the S & P 500 , which was up 15% during the same period. The largest tech stocks — Amazon , Microsoft , Google parent Alphabet and Meta Platforms — remain the most popular hedge fund long positions at the end of June. Big artificial intelligence winner Nvidia was the fifth-most popular stock among hedge funds.

Persons: Goldman Sachs, Goldman, Uber, — CNBC's Michael Bloom Organizations: Microsoft, Google, Nvidia, Activision, Apple, Horizon Therapeutics, Visa

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The carve-out is designed to not upset a deal with Brussels for Microsoft to license content to rival cloud services. The CMA's block in April drew fury from the merging parties, with Microsoft saying that Britain was closed for business. It said on Tuesday that it had not felt any political pressure over its handling of the deal. The CMA will also avoid having to defend its original block in court, and Microsoft finally looks set to secure its deal.

Persons: Dado Ruvic, Ronan Scanlan, Arthur Cox, Gustaf Duhs, Scanlan, Antony O'Loughlin, Setfords, Tom Smith, there's, Smith, Kate Holton, Paul Sandle, Martin Coulter, Matthew Lewis Organizations: Microsoft, Activision, REUTERS, Markets Authority, U.S, Ubisoft Entertainment, European Union, U.S ., CMA, Reuters, Stevens & Bolton, Ubisoft, European, Geradin Partners, Big Tech, Thomson Locations: Britain, U.S, Brussels, Dublin, United States, European Union, China, London

The American Alliance for Equal Rights sued Perkins Coie in Dallas and Morrison & Foerster in Miami two months after the Supreme Court sided with another group founded by activist Edward Blum and rejected affirmative action policies used by many colleges to increase enrollment of racial minorities. The federal lawsuits accused both law firms of unlawfully discriminating against white candidates by limiting which law students could be considered for paid fellowships designed in part to help support the recruitment of people of color. "Excluding students from these esteemed fellowships because they are the wrong race is unfair, polarizing and illegal," Blum, who is white, said in a statement. Perkins Coie, founded in Seattle, offers "diversity fellowships" that provide stipends of $15,000 to $25,000 and paid positions as summer associates, a position that at major law firms can lead to full-time jobs with six-figure salaries. Reporting by Nate Raymond in Boston; Editing by Will Dunham, Alexia Garamfalvi and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Blum, Perkins Coie, Morrison, Foerster, " Blum, Perkins, Nate Raymond, Will Dunham, Alexia Garamfalvi, Alistair Bell Organizations: U.S, Supreme, Harvard University, University of North, Activision, American Alliance for Equal Rights, Activision Blizzard, Kellogg, Gannett, Civil, American, American Alliance for Equal, Atlanta, Thomson Locations: University of North Carolina, Washington , U.S, Dallas, Miami, Seattle, United States, Asia, San Francisco, Blum's Texas, Boston

☆ Europe stocks climb as investors await Nvidia results; German business activity plunges
▼ + stars: | 2023-08-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — European stock markets were higher Wednesday, with attention focused on earnings and central bank comments in the U.S. The Stoxx 600 index was up by 0.45% at 8:45 a.m. BST, with most sectors nudging higher. Autos stocks were down by 0.46% after the release of grim PMI figures for Germany, which showed a deepening downturn in manufacturing output and plunge in business activity. European marketsGlobally, investors will be poring over California-based chip designer Nvidia 's results to see how it performs against high Wall Street expectations after a stellar first quarter. The rise in long-dated U.S. Treasury yields, with the yield on the benchmark 10-year note hitting its highest level since 2007, eased Tuesday.

Persons: Nvidia, Jerome Powell, Jackson, Thomas Barkin, Barkin Organizations: U.S, Activision, Treasury, Richmond Fed Locations: Germany, California, U.S

☆ Watch: Plane Believed to Be Carrying Wagner Boss Yevgeny Prigozhin Crashes
▼ + stars: | 2023-08-23 | by ( ) www.wsj.com time to read: 1 min

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ 'The CMA has taken a very aggressive stance' towards big tech deals since Brexit, says former UK CMA legal director
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'The CMA has taken a very aggressive stance' towards big tech deals since Brexit, says former UK CMA legal directorTom Smith, partner at Geradin Partners and former legal director of the U.K.'s Competition and Markets Authority, discusses the CMA decision on the Microsoft-Activision deal.

Persons: Tom Smith Organizations: CMA, Geradin Partners, Markets Authority, Microsoft, Activision

☆ Watch: India Becomes First Country to Land on Moon’s South Pole
▼ + stars: | 2023-08-23 | by ( ) www.wsj.com time to read: 1 min

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ Watch: Wagner Boss Yevgeny Prigozhin Killed in Russian Plane Crash
▼ + stars: | 2023-08-23 | by ( ) www.wsj.com time to read: 1 min

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ Big tech is playing around with regulators and winning, says GlobalData
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig tech is playing around with regulators and winning, says GlobalDataCyrus Mewawalla, Head of Investment Research at GlobalData, discusses Microsoft's restructured proposal to acquire Activision Blizzard.

Persons: GlobalData Cyrus Mewawalla, Microsoft's Organizations: Investment Research, GlobalData, Activision Blizzard

☆ Microsoft Now Playing the Very Long Game With Activision
▼ + stars: | 2023-08-22 | by ( Dan Gallagher | ) 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/business/media/microsoft-now-playing-the-very-long-game-with-activision-602e55e6

Persons: Dow Jones Organizations: microsoft, activision

Microsoft announced the biggest gaming deal in history in early 2022, but the acquisition was blocked by Britain's competition regulator, which was concerned the U.S. computing giant would gain too much control of the nascent cloud gaming market. Under the restructured deal, Microsoft will not be able to release Activision games like "Overwatch" and "Diablo" exclusively on its own cloud streaming service — Xbox Cloud Gaming – or to exclusively control the licensing terms for rival services. Instead, French gaming rival Ubisoft will acquire the cloud streaming rights for Activision's existing PC and console games, and any new games released by Activision in the next 15 years. A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, January 25, 2023. Microsoft said Ubisoft would acquire the rights through a one-off payment and a market-based wholesale pricing mechanism, including an option that supports pricing based on usage.

Persons: Tom Smith, there's, Gonzalo Fuentes, Alex Haffner, Fladgate, Sarah Cardell, Yadarisa, Kate Holton, Foo Yun Chee, Barbara Lewis, Sharon Singleton, Mark Potter Organizations: CMA, Microsoft, Activision, Ubisoft Deal, Ubisoft Entertainment, Ubisoft, Markets Authority, European Commission, Geradin Partners, Big Tech, Reuters, REUTERS, European Union . Competition, Federal Trade Commission, European, European Union, Sony, U.S, Thomson Locations: New York, Paris, U.S, Europe, Brussels, EU, Issy, France, British, United States, Bengaluru, London

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Other big technology and growth stocks also rose, with Tesla (TSLA.O) advancing 3.4% after logging its biggest one-day percentage gain since March on Monday. Macy's (M.N) jumped 4% after the department store chain beat second-quarter sales estimates, while Coty (COTY.N) slipped 2.0% after the perfume and cosmetics maker forecast annual profit below Wall Street expectations. ET, Dow e-minis were up 66 points, or 0.19%, S&P 500 e-minis were up 17.25 points, or 0.39%, and Nasdaq 100 e-minis were up 79 points, or 0.53%. Among other stocks, shares of Zoom Video Communications (ZM.O) rose 2.8% in premarket trading after the video-conferencing platform forecast third-quarter profit above Wall Street estimates.

Persons: Carlo Allegri, Nvidia's, Russ Mould, Jerome Powell's, Lowe's Cos, Amruta Khandekar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Nvidia, Monday, Bell, Federal, Traders, Coty, Dow e, Zoom Video Communications, Wall, Activision, Microsoft, Ubisoft Entertainment, Thomson Locations: New York, U.S, Jackson

Britain's Competition and Markets Authority (CMA) is the only regulator to block Microsoft's $69 billion Activision deal, in a test of its post-Brexit clout. The CMA in a statement said the revised transaction would "allow Ubisoft to commercialise these rights to other cloud gaming services providers (including to Microsoft itself)". Under the new terms, Microsoft will not be able to release Activision Blizzard games exclusively on its own cloud streaming service — Xbox Cloud Gaming – or to exclusively control the licensing terms of Activision Blizzard games for rival services. The new transaction deals with streaming rights outside the European Economic Area, reflecting the fact that Brussels had already approved the deal. Ubisoft will, however, receive a non-exclusive licence for Activision's European gaming rights too, enabling the French group to also stream the rights in the EU.

Persons: Yadarisa, Kate Holton, Rashmi Aich, Sachin Ravikumar, Barbara Lewis Organizations: CMA, Activision, Ubisoft Deal, Microsoft, Ubisoft Entertainment, Britain's, Markets Authority, Ubisoft, European Union, Sony, U.S, Activision Blizzard, Economic, Activision's, Thomson Locations: Paris, British, Brussels, Bengaluru, London

☆ Microsoft Submits Revised Activision Deal to U.K. Watchdog
▼ + stars: | 2023-08-22 | by ( Kim Mackrael | ) 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/business/telecom/microsoft-submits-revised-activision-deal-to-u-k-watchdog-d8923283

Persons: Dow Jones Organizations: microsoft, activision

☆ Microsoft Submits Revised Activision Blizzard Deal to U.K. Regulator
▼ + stars: | 2023-08-22 | by ( Kim Mackrael | 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/microsoft-submits-revised-activision-deal-to-u-k-watchdog-d8923283

Persons: Dow Jones Organizations: microsoft, activision

☆ Europe stocks higher; Ubisoft rises 6% on restructured Microsoft-Activision deal
▼ + stars: | 2023-08-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — European stock markets were higher Tuesday after posting cautious gains to start the week. The Stoxx 600 index was 0.68% higher in early trade, with all sectors higher bar oil and gas, which dipped 0.1%. Higher bond yields generally mean lower stock prices. Thompson said bond market moves reflect a pushback on expectations for substantial Federal Reserve rate cuts next year, though opinion remains divided. U.S. stock futures nudged lower after the Nasdaq Composite and the S&P 500 snapped a four-day negative streak.

Persons: Rupert Thompson, CNBC's, Thompson Organizations: Technology, Ubisoft Entertainment, Microsoft, Activision Blizzard, Treasury, Kingswood Group, Nasdaq Locations: Asia, Pacific

☆ Microsoft gives ground on streaming in bid to remove UK block on Activision deal
▼ + stars: | 2023-08-22 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —Microsoft has made a major concession to UK authorities in a bid to remove the last remaining regulatory obstacle to its huge takeover of Activision Blizzard. The restructured deal, announced by the UK Competition and Markets Authority Tuesday, follows a decision by the CMA to block the acquisition on its original terms. A US federal court also said in July that it would not block the deal from closing. The transaction was valued at $69 billion at the time, making it one of the tech industry’s largest deals. Activision Blizzard is one of the world’s biggest video game developers, producing games such as “Candy Crush,” “Call of Duty,” “World of Warcraft” and “Overwatch.”

Persons: Sarah Cardell, ” Cardell, Candy, ” Organizations: London CNN, Microsoft, Activision Blizzard, European Union, Ubisoft Entertainment, UK Competition, Markets, CMA, Ubisoft —, Economic, Ubisoft, Activision Locations: United Kingdom, Paris

☆ Audio Static in a Ford F-150
▼ + stars: | 2023-08-22 | by ( ) www.wsj.com time to read: 1 min

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ Ubisoft shares pop 9% on revised Microsoft-Activision deal
▼ + stars: | 2023-08-22 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Yves Guillemot, CEO and co-founder of Ubisoft, speaks at the Ubisoft Forward livestream event in Los Angeles, California, on June 12, 2023. Shares of French game maker Ubisoft popped 9% in Europe trading Tuesday after Microsoft submitted a new deal for the takeover of Activision Blizzard to try and appease wary U.K. regulators. The U.K.'s Competition and Markets Authority confirmed it blocked the original $69 billion deal that Microsoft first put forward in January 2022. Instead, these rights will be divested to Ubisoft before Microsoft's acquisition of Activision Blizzard. Ubisoft offers cloud games on services like Amazon Luna and Nvidia 's GeForce Now, which compete with Microsoft's Xbox streaming service.

Persons: Yves Guillemot, Brad Smith, Tom Clancy's, Smith, CNBC's Arjun Kharpal Organizations: Ubisoft, Microsoft, Activision Blizzard, Markets Authority, CMA, Activision Blizzard PC, Activision, Amazon, Nvidia Locations: Los Angeles , California, Europe, U.S

☆ EU antitrust regulators to assess impact of Microsoft's UK Activision remedy
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsBRUSSELS, Aug 22 (Reuters) - EU antitrust regulators will examine whether Microsoft's (MSFT.O) proposal to sell its non-EU cloud streaming rights to Ubisoft Entertainment (UBIP.PA) in a bid to gain UK approval for its Activision Blizzard (ATVI.O) bid will affect its concessions to the European Commission. "We are closely following the developments in the UK and assessing the impact this may have on the commitments accepted by the Commission," a spokesperson for the European Union executive said in an email. The EU competition enforcer cleared the deal in May after Microsoft agreed to licence popular Activision games such as "Call of Duty" to rival game streaming platforms for 10 years. Reporting by Foo Yun CheeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Foo Yun Chee Organizations: Microsoft, Activision, REUTERS, Rights, Ubisoft Entertainment, European Commission, Commission, European Union, EU, Thomson

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