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The commission said it needed to review the impact on competition of the proposed acquisition in greater detail. "This means that Trans-cab drivers will continue to have the flexibility to earn through multiple ride-hailing platforms and pick up streethail rides," the Grab spokesperson added. The Grab spokesperson said both Grab and Trans-cab were committed to ensuring the benefits of an acquisition to commuters and they would help raise the overall standards of the industry. "Digitalising Trans-cab's fleet will improve driver productivity and taxi availability so that consumers can get a ride more easily," the Grab spokesperson said. The proposed acquisition comes as Singapore saw M&A activity fall 69% year-on-year in the first nine months of this year, according to LSEG data.

Persons: CCCS, Himanshi, Varun, Robert Birsel Organizations: Consumer Commission of Singapore, Transport Authority, Nasdaq, Trans, Thomson Locations: Southeast, Singapore, Bengaluru, Yantoultra

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 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-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

☆ Australia's CSL tanks as Novo Nordisk's kidney trial success stokes competition concerns
▼ + stars: | 2023-10-12 | by ( Archishma Iyer | ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Shares of biotechnology firm CSL (CSL.AX) fell to a four-year low on Thursday, after rival Novo Nordisk's (NOVOb.CO) Ozempic drug showed early signs of success in delaying the progression of kidney disease in diabetes patients. Shares of CSL closed 5.7% lower at A$239.77, their lowest since Oct. 10, 2019, after falling 6.7% earlier in the session. The stock also marked its worst intraday session in four months and was the top loser on the benchmark. CSL's Vifor segment, which includes therapies for kidney diseases and iron deficiencies, faces concerns of competition in the segment after Ozempic's early trial success, analysts said. Reporting by Archishma Iyer in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Novo, Shane Ponraj, Morningstar, Tim Waterer, Archishma Iyer, Varun Organizations: CSL, Novo Nordisk's, CSL Vifor, Novo Nordisk, KCM Trade, Sonic Healthcare, Thomson Locations: Danish, Bengaluru

☆ Indian shares open marginally higher on oil pullback; IT stocks slip
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: 1 min

A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 50,000 level for the first time, in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Oct 12 (Reuters) - Indian shares opened marginally higher on Thursday as moderating oil prices boosted sentiment, while a slide in information technology (IT) stocks after Tata Consultancy Services' earnings capped gains. The NSE Nifty 50 index (.NSEI) was up 0.11% at 19,832.70 as of 9:16 a.m. IST, and the S&P BSE Sensex (.BSESN) rose 0.10% to 66,549.26. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Varun Organizations: Bombay Stock Exchange, Sensex, REUTERS, Rights, Tata Consultancy Services, NSE, BSE, Thomson Locations: Mumbai, India, Bengaluru

REUTERS/Maxim Shemetov/Illustration/File Photo Acquire Licensing RightsSummaryCompanies Russian rouble climbs to over 2-week high vs dollarMove comes after Putin reimposes currency controlsRouble had slumped to over 18-month low this weekAnalysts expect rouble to firm more in coming weeksOct 12 (Reuters) - Russia's rouble leapt against the U.S. dollar on Thursday after President Vladimir Putin ordered the mandatory sale of foreign currency revenues for some exporters to buttress the currency. The rouble collapsed to a record low in the weeks after Russia invaded Ukraine last year, before Moscow imposed similar capital controls that saw it recover to a seven-year high. Kogan warned, however, that by 2025-2026 businesses would form plans based on a rouble rate of 100-105. The central bank endorsed the measures, a shift in its stance, after it previously warned of the inefficiency of currency controls. "The rouble is even less tradable for foreign investors after Russia re-imposed some capital controls," Piotr Matys, senior FX analyst at In Touch Capital Markets.

Persons: Maxim Shemetov, Putin, Rouble, rouble, Vladimir Putin, Yevgeny Kogan, Kogan, Gref, Andrei Belousov, Piotr Matys, Dmitry Polevoy, Brent, Alexander Marrow, Amruta, Robert Birsel, Mark Potter, Varun, Alexander Smith Organizations: REUTERS, U.S, Russia's Higher, of Economics, TASS, Wednesday, Bank of Russia, FX, Touch, Thomson Locations: Moscow, Russia, Ukraine, outflows, Locko, Bangalore

Operating profit for the fiscal year through August is expected to rise 26% to 374.6 billion yen ($2.52 billion), according to the average estimate of 12 analysts collected by LSEG. The company has forecast 370 billion yen, which would far exceed last year's 297.3 billion yen. Consensus estimates could be underplaying the company's results given the recovery in China, the weak yen, and strong performance in the United States and Europe, said LightStream Research analyst Oshadhi Kumarasiri. "I'm expecting a positive earnings surprise and a strong set of guidance for next year," added Kumarasiri, who publishes on the Smartkarma platform. Fast Retailing's shares are up 22% in 2023, about even with the gain in the benchmark Nikkei index (.N225).

Persons: Tadashi Yanai, Oshadhi Kumarasiri, I'm, Daisuke Tsukagoshi, Uniqlo, Yanai, Rocky Swift, Varun Organizations: Retailing, Japan's, Forbes, Nikkei, Thomson Locations: TOKYO, China, United States, Europe, doldrums, North America

☆ India's Bank of Baroda falls after RBI ban on adding new app customers
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A woman walks past a signboard of Bank of Baroda outside their branch office in New Delhi, India, June 20, 2023. REUTERS/Anushree Fadnavis/File photo Acquire Licensing RightsBENGALURU, Oct 11 (Reuters) - Shares of Bank of Baroda (BOB.NS) fell nearly 4% on Wednesday, a day after the Reserve Bank of India stopped the state-run lender from adding customers to its mobile app citing "certain material supervisory concerns." Bank of Baroda will be allowed to onboard customers to its bob World app only after rectifying certain deficiencies, the RBI said on Tuesday, without giving any details about the issues. Bob World app has 8.1 million daily transactions, while 43% of time deposits are obtained through the app, the bank had said in its quarterly presentation in August. Shares of Bank of Baroda have underperformed the PSU bank index for the year so far, rising 12% compared to nearly 20% in the index.

Persons: Anushree, Suresh Ganapathy, Macquarie, Bob, Varun Organizations: Bank of Baroda, REUTERS, Rights, Reserve Bank of India, Macquarie, Sethuraman NR, Thomson Locations: New Delhi, India, BOB.NS, Bengaluru

☆ IMAX's buyout proposal of China unit falls through
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

People wait for movie screening at an IMAX theatre inside the Wanda Plaza in Xinxiang, Henan province, China March 23, 2018. REUTERS/Stella Qiu/File Photo Acquire Licensing RightsOct 10 (Reuters) - IMAX China (1970.HK) said on Tuesday that its shareholders have rejected a proposal of its U.S.-based parent (IMAX.N) to buy the remaining stake in the Hong Kong-listed company for about $124 million. IMAX, which currently owns 71.6% of its Chinese subsidiary, had offered to buy IMAX China at HK$10 ($1.28) per share in July, a 49% premium to the 30-day average closing price at the time. The remaining 28.4% stake of IMAX China was valued at about$98.7 million, as of the company's last closing price. IMAX had sought to take full control of its China unit to improve the company's operational flexibility and apply its technology in the Chinese market.

Persons: Stella Qiu, Upasana Singh, Varun Organizations: REUTERS, HK, Thomson Locations: Xinxiang, Henan province, China, Hong Kong, Bengaluru

☆ India's TCS to consider share buyback next week
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Oct 6 (Reuters) - India's Tata Consultancy Services (TCS.NS) on Friday said it will consider a share buyback when its board meets next Wednesday to approve second-quarter financial results. TCS, India's largest information technology (IT) services firm, did not disclose the quantum of the buyback it was considering. It had last bought back shares worth 160 billion rupees ($1.92 billion) in 2020. The buyback comes at a time Indian IT services companies are grappling with an uncertain demand environment, especially in the U.S., a key market for the sector. ($1 = 83.1740 Indian rupees)Reporting by Chris Thomas in Bengaluru; Editing by Savio D'Souza and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Thomas, Savio D'Souza, Varun Organizations: India's Tata Consultancy Services, TCS, Investors, Thomson Locations: BENGALURU, Indian, U.S, Bengaluru

☆ Tesla slashes prices of Model 3, Models Y vehicles in US
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. Tesla cut the prices for its Model 3 sedan to $38,990 from $40,240, while the price for its Model Y long-range vehicle was cut to $48,490 from $50,490, the website showed. The company also cut prices for its Model Y performance variant to $52,490 from $54,490. Prices for the higher-priced Model S and Model X did not change either. This is the first time that the EV maker has cut prices of any of its models in the U.S. since early September, when it slashed the prices for its premium Model S and Model X cars.

Persons: Mike Blake, Elon Musk, Tesla, Urvi, Rashmi Aich Organizations: Tesla, REUTERS, Thomson Locations: Long Beach , California, U.S, Bengaluru

Oct 3 (Reuters) - Meta Platforms (META.O) is looking to introduce ad-free subscription plans for Instagram and Facebook users in Europe, two people familiar with the matter said on Tuesday. The proposal is an attempt by Meta to comply with European Union regulations that threaten to curb its ability to personalize ads for users without their consent and hurt its major revenue source. Offering a choice between a free, ad-supported plan and a paid subscription might lead to users opting for the former, helping Meta comply with regulations without affecting its ad business. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsIn comparison, Netflix (NFLX.O) charges 7.99 euros for a basic subscription plan, while Alphabet's (GOOGL.O) YouTube Premium costs about 12 euros and Spotify's (SPOT.N) Premium service is priced at about 11 euros. Meta was fined 390 million euros earlier this year by Ireland's Data Privacy Commissioner, and told it cannot use the so-called "contract" as a legal basis to send users ads based on their online activity.

Persons: Apple's, Dado Ruvic, Meta, Supantha Mukherjee, Akash Sriram, Jyoti Narayan, Sonia Cheema, Arun Koyyur Organizations: Instagram, Meta, Union, Reuters, REUTERS, Netflix, YouTube, Ireland's, EU, Protection, European, Thomson Locations: Europe, Stockholm, Bengaluru

☆ Dollar set for best quarter in a year; yen-watch rumbles on
▼ + stars: | 2023-09-29 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "We've had resilience in the U.S. economy, in the jobs market, inflation ticking higher and, obviously, the rise in oil prices. "We're not really expecting to see any rate cuts for quite some time, well toward the back end of 2024. Markets are looking ahead to the next data points, starting with key U.S. personal consumption data due later on Friday. The yen last traded at 149.125 to the dollar, which eased 0.13% on the day.

Persons: Florence Lo, Fiona Cincotta, We're, Tony Sycamore, we've, Sycamore, Thomas Barkin, Yasunari Ueno, Brigid Riley, Gerry Doyle, Neil Fullick, Kevin Liffey Organizations: U.S, REUTERS, Treasury, City Index, Federal Reserve, IG, Richmond Fed, Mizuho Securities, Sterling, National Statistics, COVID, Thomson Locations: U.S, City, Tokyo

☆ Apple, China met to discuss Beijing's crackdown on western apps, Wall Street Journal reports
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

A man check his phone near an Apple logo outside its store in Shanghai, China September 13, 2023. The officials told Apple that it must strictly implement the rules which ban unregistered foreign apps, the report said, citing people familiar with the matter. Beijing has been expanding oversight of smartphone and mobile app usage over the past several years, and now requires mobile app stores and mobile apps to submit business details to the government. Apple has not disclosed how its app store in China will comply with Beijing’s new rules. Experts said Apple's compliance could lead to tens of thousands of apps being removed from its app store in China.

Persons: Aly, Jose Joseph, Nivedita Bhattacharjee Organizations: Apple, REUTERS, Wall Street, Reuters, Thomson Locations: Shanghai, China, Beijing, Bengaluru

☆ Cognizant appoints former Wipro finance chief Jatin Dalal as CFO
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - Cognizant Technology Solutions (CTSH.O) on Thursday named former Wipro (WIPR.NS) chief financial officer Jatin Dalal as its CFO, a week after his resignation from the Indian information technology (IT) major. The pace of executive churn has picked up in the Indian tech industry in recent months. Dalal became Wipro's CFO in 2015, and with CEO Thierry Delaporte steered the company through the pandemic as demand for digital services boomed. "We are pleased to welcome Jatin to Cognizant and confident he will help us achieve our goals as we continue to focus on driving revenue growth," Cognizant CEO Ravi Kumar S said in the statement. Cognizant projected third-quarter revenue above estimates in August as more businesses turned to the IT services provider to digitize their operations.

Persons: Dado Ruvic, Jatin Dalal, Ravi Kumar S, Dalal, Jan Siegmund, Rajesh Gopinathan, Mohit Joshi, Wipro's, Thierry Delaporte, Jatin, Cognizant, Jaspreet Singh, Hritam Mukherjee, Varun Organizations: REUTERS, Technology Solutions, Wipro, Cognizant, Infosys, Indian, Tata Consultancy Services, Tech Mahindra, Thomson Locations: Bengaluru

☆ Coty prices global shares at $10.80 ahead of Paris listing
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsSept 28 (Reuters) - Coty (COTY.N) said it would price its global offering of 33 million shares at $10.80 per share, and the stock is expected to start trading on the Paris Stock Exchange at 9.30 a.m. Eastern Time on Thursday. The CoverGirl cosmetics maker, which said in May that it would explore a dual listing in Paris, launched its global offering on Sept. 25. The company's U.S.-listed shares have fallen about 7% since the launch, but were up marginally in premarket trade on Thursday. Reporting by Juveria Tabassum; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Coty, Hugo Boss, Burberry, Juveria Tabassum, Varun Organizations: Coty Inc, REUTERS, Coty, Paris Stock Exchange, Thomson Locations: Manhattan , New York City, U.S, Paris, Europe, Middle East, Africa

☆ British Land says Meta surrenders lease at one London building
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

Facebook's new rebrand logo Meta is seen on smartphone in front of displayed logo of Facebook, Messenger, Instagram, Whatsapp and Oculus in this illustration picture taken October 28, 2021. The property firm said the lease surrender would lead to an earnings per share dilution of about 0.6 pence for its half-year period ending Sept. 30. British Land said 1.2 million square feet of leasing was done across the portfolio in the first five months to Aug. 31, with the returns coming in 13.1% ahead of estimated rental value (ERV). The company last week raised its retail park estimated rental value growth outlook for fiscal year 2024 to 3%-5% from 2%-4% earlier, driven by "significant" leasing momentum in the business. Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Aby Jose Koilparambil, Varun Organizations: Facebook, REUTERS, FTSE, Land, Thomson Locations: Bengaluru

[1/2] People visit the booth of Alibaba's logistics unit Cainiao at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3, 2021. REUTERS/Florence Lo Acquire Licensing RightsSept 26 (Reuters) - Alibaba Group (9988.HK) on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago. U.S.-listed shares of Alibaba pared early premarket trading losses following Tuesday's announcement and were down 0.4% at $86.86 by 1037 GMT. Alibaba in late March announced its biggest restructuring in its 24-year history. In the months since, the company has approved a process to start external financing for its international commerce arm and was also looking to list its cloud unit.

Persons: Florence Lo, Alibaba, Cainiao, Dealmakers, Jack Ma, Daniel Zhang, Brenda Goh, Ayushman, Varun, Barbara Lewis Organizations: Fair for Trade, Services, REUTERS, Alibaba, HK, Tuesday, Smart Logistics Network, Reuters, Intime, Thomson Locations: Beijing, China, Hong Kong, Cainiao, Hong Kong . U.S

☆ 3M evaluating options for PFAS manufacturing in Belgium
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Nicholas Pfosi/File Photo Acquire Licensing RightsSept 25 (Reuters) - 3M (MMM.N) said on Monday it was looking at options to further accelerate the stoppage of manufacturing of PFAS chemicals at its Zwijndrecht facility in Belgium and warned of a likely hit due to the continued idling of the plant. In August, 3M secured preliminary approval for a $10.3 billion deal resolving claims by U.S. public water providers over pollution by PFAS. While the non-PFAS manufacturing continues at the Belgian facility, PFAS has been idled. However, the 3M said it was unable to predict the extent of any negative impact to operations. 3M has outlined plans to exit from all PFAS manufacturing by the end of 2025.

Persons: Nicholas Pfosi, 3M, PFAS, Priyamvada, Varun Organizations: 3M Global, REUTERS, U.S, Thomson Locations: Maplewood , Minnesota, U.S, Belgium, Belgian, Bengaluru

☆ Britain says may clear restructured Microsoft-Activision deal
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 22 - Microsoft's (MSFT.O) restructured acquisition of Activision Blizzard (ATVI.O) "opens the door" to the deal being cleared, Britain's antitrust regulator said on Friday. The Ubisoft divestment "substantially addresses previous concerns," the UK's Competition and Markets Authority (CMA) said in a statement. "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues," the regulator said. The CMA said there were "residual concerns" that certain provisions in the Ubisoft deal could be circumvented, terminated or not enforced.

Persons: Dado Ruvic, Brad Smith, Yadarisa, Paul Sandle, Varun, Jason Neely Organizations: Microsoft, Activision, REUTERS, Activision Blizzard, Ubisoft Entertainment, Ubisoft, Markets Authority, CMA, Thomson Locations: U.S, Bengaluru, London

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues," the regulator said. The European Union waved the deal through in May after accepting Microsoft's commitments to license Activision's games to other platforms, the same remedies that Britain had rejected. The U.S. Federal Trade Commission also opposes the deal, but it has failed in its attempts to stop it. The CMA said there were "residual concerns" around the Ubisoft deal, but Microsoft has offered remedies to ensure the terms of the sale were enforceable by the regulator.

Persons: Dado Ruvic, Brad Smith, Sarah Cardell, Sophie Lund, Yates, Hargreaves Lansdown, Yadarisa, Paul Sandle, Varun H, Jason Neely, Sharon Singleton Organizations: Microsoft, Activision, REUTERS, Ubisoft UK's CMA, CMA, Activision Blizzard, Ubisoft Entertainment, Competition, Markets Authority, Ubisoft, Union, U.S . Federal Trade Commission, Thomson Locations: U.S, Britain, Bengaluru, London

☆ Michael Bloomberg outlines succession plan for media empire, New York Times reports
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Former mayor of New York Michael Bloomberg speaks during the Earthshot Prize Innovation Summit in New York, U.S., September 19, 2023. REUTERS/Shannon Stapleton/Pool Acquire Licensing RightsSept 22 (Reuters) - Michael Bloomberg, co-founder of Bloomberg LP, outlined a succession plan for the financial information and news company, saying that his foundation Bloomberg Philanthropies will inherit it and then eventually sell it, the New York Times reported. The former New York City Mayor made the announcement at the Climate Summit hosted by the newspaper on Thursday. Representatives for Michael Bloomberg declined to comment. Thomson Reuters (TRI.TO)-owned Reuters News competes with Bloomberg News, a unit of Bloomberg LP.

Persons: New York Michael Bloomberg, Shannon Stapleton, Michael Bloomberg, Bloomberg Philanthropies, Bloomberg, Susan Brown, Emma, Georgina, Dow Jones, Chavi Mehta, Anil D'Silva Organizations: New York, REUTERS, Bloomberg, New York Times, New, New York City Mayor, Climate, Washington Post, Thomson Reuters, Reuters, Bloomberg News, Thomson Locations: New York, U.S, United States, Bengaluru

☆ Microsoft-Activision: Ubisoft deal opens doors to Britain's nod
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: 1 min

Sept 22 (Reuters) - Microsoft's (MSFT.O) restructured acquisition of Activision Blizzard (ATVI.O) "opens the door" to the deal being cleared, Britain's antitrust regulator said on Friday. Last month, "Call of Duty" maker 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). 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: Tiyashi Datta, Jaspreet Singh, Yadarisa, Anil D'Silva, Shinjini Organizations: Activision Blizzard, Activision, Ubisoft Entertainment, Markets Authority, Microsoft, Thomson Locations: Bengaluru

☆ Australia's CBA, Tesla team up to support EV purchases
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Florence Lo/File Photo Acquire Licensing RightsSept 20 (Reuters) - Commonwealth Bank of Australia (CBA.AX) on Wednesday said it has partnered with Tesla (TSLA.O) to allow the automaker's customers to avail financing for electric vehicle (EV) purchases. Under the agreement, customers will be able to apply for personal loans through the bank directly from Tesla's website, CBA said, adding that the loans carry an interest rate of 5.49% per annum. CBA, Australia's biggest lender, said it aims to accelerate sustainable purchases by providing affordable financing. The bank has financed personal loans worth over A$50 million ($32.3 million) for purchase of sustainable products since Oct. 2022, according to the statement. ($1 = 1.5504 Australian dollars)Reporting by Aishwarya Nair in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Aishwarya Nair, Varun Organizations: Fair for Trade, Services, REUTERS, Commonwealth Bank of Australia, Tesla, CBA, Australia's, Thomson Locations: Beijing, China, Bengaluru

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