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☆ Microsoft's $68.7 billion Activision takeover blocked by UK competition regulator
▼ + stars: | 2023-04-26 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Microsoft's $68.7 billion takeover of Activision has been blocked by UK regulators. The UK's CMA blocked the deal on Wednesday over concerns antitrust concerns. Microsoft's $68.7 billion takeover of "Call of Duty" developer Activision has been blocked by the UK's competition regulator, marking a devastating blow to the blockbuster deal. According to the CMA, Microsoft already accounts for around 60-70% of global cloud gaming services through its Xbox platform and Azure. Microsoft and Activision did not immediately respond to Insider's request for comment.

☆ Companies are selling us more stuff by telling us it's 'sustainable'
▼ + stars: | 2023-04-21 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

The federal government is updating guides around how companies can prove their environmental claims. Companies are advertising what they plan to do, such as addressing the climate crisis or using more recycled materials in their products. She pointed to a case BBB National Programs' National Advertising Division brought against the American Beverage Association, which represents companies such as Coca-Cola and PepsiCo. The beverage industry appealed the finding, arguing that the ad was intended to increase awareness that plastic bottles could be recycled. The National Advertising Division's appellate body upheld the original decision.

☆ Leaked document shows Shopify's plan to use 'stealth spear-fishing' recruiting tactics as it flattens its org
▼ + stars: | 2023-04-18 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

A leaked internal document detailed Shopify's plan to overhaul its recruiting strategy. It said that recruiters needed to raise the bar for the quality of candidates they were bringing on to the company. "To do this, we will exhaustively seek out world class talent, scorching the earth with thoroughness and precision," it continued. The leaked internal document from Shopify cited a January conversation with CEO Tobi Lütke where he emphasized the need to hire fewer people managers and more people who had deep technical knowledge. It also said that Lütke instructed org leaders to "avoid high drama negative talent."

☆ New Jersey's environmental agency called itself out for destroying two endangered birds' protected habitats while creating one for another species
▼ + stars: | 2023-04-15 | by ( ) www.businessinsider.com time to read: +4 min

New Jersey's environmental agency plans to punish itself for damaging land for endangered birds it was supposed to protect. The damage happened when the department was trying to create habitat for another bird species, the American woodcock. The work was designed to create habitat for one species of bird, but actually wound up destroying habitat for two others. Before the work was done, this land was considered suitable habitat for the barred owl, which is listed as a threatened species, and the red-shouldered hawk, an endangered species. The project also cleared and disturbed an additional 12 acres of land near wetlands known as transition areas, which also are protected.

☆ Truck maker Volvo posts record Q1 as sales, margins beat forecasts
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +3 min

Its adjusted operating profit rose 45% to 18.4 billion Swedish crowns ($1.76 billion) for the January-March quarter, well above the 12.9 billion expected by analysts polled by Refinitiv Eikon. Volvo's preliminary net sales for the quarter rose to 131.4 billion crowns from 105.3 billion and topped the 118.6 billion expected by analysts. Net sales in the truck segment rose to 89.6 billion crowns from 69.6 billion, beating a forecast of 79.7 billion. The division's operating profit jumped to 12.7 billion from 8.7 billion while analysts expected a decline to 8.4 billion. ($1 = 10.4303 Swedish crowns)Reporting by Terje Solsvik; editing by Sonali Paul and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Google drops global vaccine requirement to enter buildings, says 'world is in a very different place'
▼ + stars: | 2023-04-11 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

"We put in place emergency measures such as our Covid-19 vaccine policy to keep everyone safe, but now the world is in a very different place. Several hundred Google employees at the time signed and circulated a manifesto opposing the company's Covid vaccine mandate, arguing leadership's decision will have an outsized influence in corporate America. We put in place emergency measures such as our Covid-19 vaccine policy to keep everyone safe, but now the world is in a very different place. Based on this, we’re now lifting our global vaccine policy. Covid-19 vaccines have been a critical part of our overall strategy to keep Googlers safe, especially in the workplace.

☆ China's Alibaba invites businesses to trial AI chatbot -media
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +2 min

Alibaba has opened up registration for businesses to conduct testing for its AI application, STAR Market reported without specifying details. Alibaba Cloud did not respond immediately to an emailed request for comment. A formal launch is expected at an Alibaba Cloud event on Tuesday. Others to have joined the AI chatbot race include Baidu Inc (9998.HK), with its Ernie Bot application open only to trial users at the moment. Last week Alibaba announced that it will restructure into six standalone divisions, each with its own board and CEO.

The CWA in a statement said Activision's conduct showed a clear pattern of disregard for workers' legal rights. "In spite of Activision Blizzard's anti-union efforts, workers continue to organize, speak out about their working conditions and win union campaigns," the union said. Activision has said its social media policy is lawful and does not bar employees from exercising their rights under U.S. labor law. Small groups of workers at Activision subsidiaries in New York and Wisconsin have voted to join the CWA in recent months. Boston-based employees of Activision unit Proletariat in January withdrew a petition to have an election.

☆ NHL roundup: Carter Verhaeghe nets career-best 4 goals in Panthers' win
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +9 min

Sabers 6, Flyers 3Alex Tuch scored his second career hat trick to help Buffalo to a win against host Philadelphia. Morgan Frost scored twice and Felix Sandstrom made 23 saves for the Flyers, who had their seven-game point streak snapped. Avalanche 5, Stars 2Nathan MacKinnon had two goals, Mikko Rantanen had a goal and three assists, and host Colorado beat Dallas. Ben Hutton, Zach Whitecloud and Brett Howden also notched goals for Vegas, which is 5-1-1 in its past seven games. J.J. Moser and Milos Kelemen scored for the Coyotes (27-37-13, 67 points), who have dropped seven straight games (0-5-2).

The Communication Workers of America union (CWA) has accused the "Call of Duty" maker of a series of illegal labor practices at the union has sought to organize video game testers and other employees at the company and its subsidiaries. The CWA in a statement said Activision's conduct showed a clear pattern of disregard for workers' legal rights. "In spite of Activision Blizzard's anti-union efforts, workers continue to organize, speak out about their working conditions and win union campaigns," the union said. Activision is already facing a separate NLRB complaint issued last year claiming the company used a policy limiting what workers can post on social media to bar them from discussing working conditions. Activision has said its social media policy is lawful and does not bar employees from exercising their rights under U.S. labor law.

☆ Tony Hawk turned down a $500,000 payment for 'Pro Skater,' opting for royalties instead. He ended up making at least 8 times that.
▼ + stars: | 2023-03-31 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Tony Hawk made an appearance on "The Diary of a CEO" podcast and discussed his best financial move. Ahead of the release of video game "Pro Skater," he was offered a $500,000 payment for his likeness. Activision's fiscal report from 2002 cites the video game series as "the single largest independent U.S. video game franchise for the fiscal year" and credits the game, in part, for the company's increased revenue. 2020's "Tony Hawk's Pro Skater 1+2" would go on to sell one million units faster than any other iteration of the series, per Activision. "Nowadays an entire generation of kids, have asked me if I'm named after a video game," Hawk said on "Diary of a CEO."

☆ US puts trade curbs on 5 Chinese firms over alleged role in Uyghur repression
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 28 (Reuters) - The Biden administration on Tuesday imposed new trade restrictions on five Chinese companies for allegedly aiding in the repression of the Uyghur Muslim minority but China rejected the accusation as "lies" aimed at constraining it. According to Hikvision's 2021 half-year report, at least four of the companies facing new curbs belong to the Chinese surveillance camera maker including Luopu Haishi Dingxin Electronic Technology Co, Moyu Haishi Electronic Technology Co, Pishan Haishi Yong'an Electronic Technology Co and Urumqi Haishi Xin'an Electronic Technology Co.Yutian Haishi Meitian Electronic Technology Co Ltd was also added. "The idea that there exists so-called repression of Muslim minorities in Xinjiang has long been debunked," Mao said at a regular briefing on Wednesday. She also said that China would take all necessary measures to defend the legitimate rights and interests of Chinese firms. The United States has increasingly used the list to target Chinese firms.

☆ Why TikTok is taking months to delete personal US user data from servers outside its Project Texas firewalls, even as its political standing sours
▼ + stars: | 2023-03-28 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Under attack from Congress, TikTok has used its data-gating program Project Texas as a defense. But after 2 years and $1.5 billion spent to-date, Project Texas is still not complete. But after two years and $1.5 billion spent to-date, Project Texas is far from complete. Among those industry standards are state laws around data retention and requirements for safeguarding user data so that it's not lost accidentally, Zweifel-Keegan said. The company also announced on March 8 details for a European version of Project Texas that it's calling Project Clover.

☆ US slaps trade curbs on 5 Chinese firms over alleged role in Uyghur repression
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, March 28 (Reuters) - The Biden administration on Tuesday imposed new trade restrictions on five Chinese companies for allegedly aiding in Beijing's repression of the Uyghur Muslim minority group. According to Hikvision's 2021 half-year report, at least four of the companies facing new curbs belong to the Chinese surveillance camera maker including Luopu Haishi Dingxin Electronic Technology Co, Moyu Haishi Electronic Technology Co, Pishan Haishi Yong'an Electronic Technology Co and Urumqi Haishi Xin'an Electronic Technology Co.Yutian Haishi Meitian Electronic Technology Co Ltd was also added. Being added to the entity list means U.S. suppliers must get a special and difficult-to-obtain license before shipping goods to the targeted companies. Washington has increasingly used the entity list to target Chinese firms. Reporting by Alexandra Alper, David Shepardson, and Karen Freifeld; Editing by Franklin Paul and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ UK drops console concern over Microsoft-Activision deal
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 24 (Reuters) - Britain's competition regulator said Microsoft's (MSFT.O) 69-billion purchase of "Call of Duty" maker Activision Blizzard (ATVI.O) would not harm competition in gaming consoles, removing a major obstacle to the deal. The regulator, however, said it was still looking at the impact of the deal on the cloud gaming market. The takeover, the biggest ever in gaming, remains subject to the scrutiny of regulators in the United States and Europe. But Microsoft has since offered Sony a licence deal to address those concerns. A Microsoft spokesperson said: "We look forward to working with the CMA to resolve any outstanding concerns."

NatWest, supported by climate activist groups, is happy with 100% of facilitated emissions being attributed to the banks behind capital markets deals. Tonia Plakhotniuk, NatWest Markets' Vice President, Climate & ESG Capital Markets, said that 17% risked "a mismatch" because investors would not account for the remainder themselves. This includes Barclays, which apportions 33% of the capital markets financing to the bank and the rest to investors. Reuters GraphicsUntil banks agree on a compromise, experts say lenders could look to book more business as capital markets rather than loans. The Basel Committee's methodology for assessing Global Systemically Important Banks considers direct lending to be six times more important in its impact on the financial system than capital markets underwriting.

The new documents, reviewed by Reuters, shed light on the concern among the Finance Ministry's most senior officials, who cited unease among foreign investors and a shekel that has depreciated sharply to a three-year low. "Implementing the proposed judicial reform could bring very significant harm to the economy," said a document from the ministry's chief economist. The ministry's budget department wrote separately that there have been "initial indications" of the development of negative sentiments towards the Israeli economy. Moody's Investor Service said this month that the Israeli government's planned judicial reforms could weaken institutions and negatively impact Israel's sovereign credit profile. The Bank of Israel, which has urged judicial independence, expects economic growth of below 3% in 2023 after a 6.4% spurt last year.

☆ Microsoft's EU remedies target only cloud streaming rivals, sources says
▼ + stars: | 2023-03-20 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, March 20 (Reuters) - Microsoft Corp's (MSFT.O) remedies to address European Union antitrust concerns over its $69 billion acquisition of Activision (ATVI.O) focus only on cloud gaming services, with no mention of rival Sony (6758.T), people familiar with the matter said on Monday. The U.S. software giant has been trying to allay the Commission's concerns that the deal may reduce competition for console and personal computers, PC operating systems and cloud game streaming services. However, the absence of a Sony solution suggests the Commission no longer has concerns about competition in the console market. The sources said Microsoft has offered 10-year licensing deals for cloud gaming services, citing Nvidia, Ukraine-based cloud gaming provider Boosteroid and Japan's Ubitus as examples. Microsoft's EU offer is narrower than that to the UK competition agency, which includes licensing deals to cloud gaming services and a 10-year deal with parity on content and quality for Activision's Call of Duty franchise to critic and PlayStation owner Sony.

☆ Microsoft offers EU remedies seeking OK on Activision deal
▼ + stars: | 2023-03-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, March 17 (Reuters) - Microsoft Corp (MSFT.O) has offered remedies in an attempt to gain EU antitrust approval for its $69 billion acquisition of Activision (ATVI.O), a European Commission filing showed on Friday. The EU competition enforcer, which did not provide details in line with its policy, will now seek feedback from rivals and customers before making its decision by May 22. Microsoft President Brad Smith has said the U.S. software company was prepared to offer rivals licensing deals to ease competition concerns but not to selling Activision's lucrative "Call of Duty" franchise. The company has in recent weeks signed agreements with three companies to bring "Call of Duty" to their platforms. "We are now backing up that promise with binding commitments to the European Commission, which will ensure that this deal benefits gamers into the future."

☆ Microsoft signs Japanese licensing agreement amid Activision deal
▼ + stars: | 2023-03-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, March 15 (Reuters) - Microsoft (MSFT.O) signed a 10-year licensing deal to bring Activision's (ATVI.O) Call of Duty franchise to Japanese cloud gaming provider Ubitus on Wednesday, the latest move by the company to address regulatory worries about its bid for the games maker. While Xbox maker Microsoft is likely to secure EU antitrust approval for acquiring Activision with such licensing deals and other behavioural remedies, it is facing headwinds in the United States and Britain. "Microsoft and Ubitus, a leading cloud gaming provider, have signed a 10-year partnership to stream Xbox PC Games as well as Activision Blizzard titles after the acquisition closes," the chief executive of Microsoft's gaming division, Phil Spencer, said in a tweet. The company agreed a similar deal with cloud gaming provider Boosteroid a day earlier, on top of agreements with Nvidia (NVDA.O), Nintendo (7974.T) and U.S. distributor Valve Corp, owner of the world's largest video game distribution platform, Steam. Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Microsoft inks licensing deal with cloud gaming provider Boosteroid
▼ + stars: | 2023-03-14 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, March 14 (Reuters) - Microsoft (MSFT.O) on Tuesday signed a 10-year licensing deal to bring Activision's (ATVI.O) Call of Duty franchise to cloud gaming provider Boosteroid's platform, a move partly aimed at allaying competition concerns over its Activision acquisition. Ukraine-based Boosteroid's access to Call of Duty is conditional on regulatory approval for the Activision deal. The agreement will also bring Microsoft's Xbox PC games to Boosteroid's cloud gaming platform. That's why Xbox is committed to give everyone more ways to play their favorite games, across devices," said Phil Spencer, chief executive of Microsoft's gaming division. EU antitrust regulators are expected to approve Microsoft's takeover of Activision conditional on such licensing deals, people familiar with the matter have told Reuters.

☆ Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
▼ + stars: | 2023-03-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

People look at the Volkswagen id buzz electric car during the press day at the Los Angeles Auto Show in Los Angeles, California, November 17, 2022. Volkswagen on Tuesday announced plans to invest 180 billion euros ($192.6 billion) between 2023 and 2027, with more than two thirds targeting "electrification and digitalization." The BEV expansion was driven by a 68% spike in China, while the company also completed the landmark electrification of its plant in Chattanooga, Tennessee. However, overall delivery numbers declined by 7% to 8.3 million vehicles in 2022 and the automotive division's net cash flows decreased to 4.8 billion euros from 8.6 billion euros in 2021. Volkswagen Group CFO & COO Arno Antlitz said the strong financial position should enable the company to "continue investing in electrification and digitalization" even in a "challenging economic environment."

☆ Silicon Valley Bank catered to Napa Valley wineries and could finance 'French oak barrels' if needed. The bank's demise 'surprised everyone,' a vineyard owner says.
▼ + stars: | 2023-03-12 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Silicon Valley Bank lent over $4 billion to wineries in the past 30 years, according to its website. Gavin Newsom as one of its investors, founder John Conover told Insider. A large portion of SVB's clientele came from the startup ecosystem, but it also established a good footing with the west coast's wine industry. Since the division's founding nearly three decades ago, SVB has loaned more than $4 billion to its wine-centric clients, according to the bank's website. On Wednesday, SVB Financial Group announced it was in a cash crunch that caused panic among customers and a massive $42 billion bank run.

☆ Campbell Soup lifts sales outlook as Americans keep snacking
▼ + stars: | 2023-03-08 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Though stretched thin amid increasing prices, Americans are still snacking on Campbell's cookies and salty snacks while a continued preference for cooking at home has further bolstered demand. While U.S. soup sales rose 7% in the second quarter, Campbell is facing growing competition from cheaper private-label counterparts for soups and broth. New Jersey-based Campbell expects fiscal 2023 net sales to rise between 8.5% and 10%, up from its previous forecast of 7% to 9%. It also projected annual adjusted earnings of $2.95 to $3.00 per share, compared with a prior target of $2.90 to $3.00. Reporting by Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Ticketmaster's website crashed again, disrupting ticket sales for the Eurovision Song Contest 2023
▼ + stars: | 2023-03-08 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Ticketmaster crashed once again, this time during ticket sales for the Eurovision Song Contest 2023. The company also came under fire in November after its system was overwhelmed during ticket sales for Taylor Swift's "The Eras Tour." Joe Berchtold, the president and CFO of Live Nation Entertainment, Ticketmaster's parent company, was called to testify before a Senate committee in January over the Taylor Swift ticket sales debacle. During his testimony to the Senate on January 24, Berchtold apologized to Swift and her fans, saying that "bot traffic" disrupted the ticket sales. This year's Eurovision Song Contest, which is organized by the BBC and the European Broadcasting Union, will be held from May 9 to 13 at Liverpool's 11,000-seat Liverpool Arena, per Eurovision's website.

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