DIRS.INFO The most relevant business & tech news

☆ The Microsoft-Activision deal gives Lina Khan a $69 billion problem in 2023. Defeating it will set the tone on Big Tech deals for years to come.
▼ + stars: | 2023-01-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

The FTC has a $69 billion headache to deal with in 2023 in the form of Microsoft's Activision buyout. Chair Lina Khan wants to rein in Big Tech but will be tested by one a Silicon Valley veteran. The outcome of the deal will have ramifications beyond Microsoft: the rest of Silicon Valley lies in wait before making their next big moves, as any decision will set the tone for Big Tech deals in years to come. That said, Microsoft's acquisition of Activision will prove even tougher to tackle than anything Amazon has thrown up for the FTC chief to date. Failure will likely embolden Big Tech to test the waters further.

Organizations: &' $

☆ These low-volatility stocks beat the market last year — and analysts see further upside in 2023
▼ + stars: | 2023-01-04 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

As market pros warn investors of bumpy times ahead , CNBC Pro used FactSet data to screen for low-volatility stocks that not only beat the market in 2022 but are expected to rise further this year. "Beta" is a measurement of a stock's volatility ; a beta of 1 means that a stock's volatility is equal to the market, whereas a beta below 1 means that stock is less volatile than the market. Its largest shareholder Deutsche Telekom made the list too, with the company given average upside of 34.5%. Fertilizer Stocks Fertilizer stocks Nutrien and Corteva made the screen too. Some 54% of analysts covering the stock still rate it a buy, however, with consensus estimates give the stock average upside of 38.6%

☆ Microsoft recognized its first labor union in the US after staff at $7.5 billion video game firm ZeniMax Studios voted to unionize
▼ + stars: | 2023-01-04 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Microsoft recognized its first US labor union, the Communications Workers of America said, Tuesday. Around 300 workers at Microsoft subsidiary ZeniMax Studios voted to unionize in December. Microsoft agreed to voluntarily recognize the union if workers voted to unionize in December, per Reuters. Union workers can petition to the National Labor Relations Board to force their employer to recognize their union, but the process is long and arduous. Microsoft and ZeniMax Studios did not immediately respond to Insider's request for comment.

☆ These were Warren Buffett's 10 best performing stocks held by Berkshire Hathaway in 2022
▼ + stars: | 2023-01-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway wasn't immune from the 20% stock market sell-off in 2022. These were Buffett's 10 best performing stocks owned by Berkshire Hathaway in 2022. The worst performing stocks owned by Berkshire Hathaway in 2022 included Nu Holdings and Snowflake, which both sank 57%. These were the 10 best performing stocks owned by Berkshire Hathaway in 2022. The list also includes a Berkshire holding value as of September 30, and is according to data from Whale Wisdom.

☆ Video game workers form Microsoft’s first U.S. labor union
▼ + stars: | 2023-01-03 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

A group of video game testers is forming Microsoft’s first labor union in the U.S., which will also be the largest in the video game industry. Communications Workers of America said Tuesday that about 300 quality-assurance workers at Microsoft video game subsidiary ZeniMax Studios have voted to join the union. The unionization campaign was sparked, in part, by Microsoft’s ongoing bid to buy California-based game giant Activision Blizzard. Microsoft, which is based in Redmond, Washington, made a June pact with the CWA union to stay neutral if Activision Blizzard workers sought to form a union. Microsoft’s legally binding agreement specifically applied to Activision Blizzard workers after the closing of the merger.

Jan 3 (Reuters) - A group of about 300 videogame testers at Microsoft Corp (MSFT.O) subsidiary Zenimax Studios have voted to unionize, the Communication Workers of America union (CWA) said on Tuesday, marking a first for the tech giant in the United States. The CWA said Zenimax employees at four locations in Maryland and Texas voted overwhelmingly to join the union, but did not provide a tally. Microsoft in a statement provided by a spokesperson said it would follow through on an earlier promise to voluntary recognize the union if the workers voted to join. CWA President Christopher Shelton in a statement said Microsoft has set itself apart from other tech companies that have discouraged union campaigns. Game testers at Activision units Blizzard Albany and Raven Software voted in 2022 to join unions amid claims by the CWA that the company has threatened and retaliated against union supporters.

☆ Microsoft recognizes its first union as ZeniMax software testers organize
▼ + stars: | 2023-01-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Stephen McCarthy/Sportsfile for Web Summit via Getty Images)Microsoft said Tuesday that it has recognized its first union of employees in the software maker's 47-year history. Last year, Microsoft said it would support approaches that would make it simpler for its employees to join unions. A supermajority of ZeniMax workers said they wanted to join the union, the CWA said in a statement. Microsoft operates 23 internal game studios in addition to selling Xbox consoles and operating gaming services such as Game Pass subscription packages. The workers become the largest group of quality-assurance testers at any U.S. game studio, the CWA said.

In a statement provided to CNN, Microsoft said it has agreed to recognize the union. “Microsoft has lived up to its commitment to its workers and let them decide for themselves whether they want a union,” CWA president Chris Shelton said in a statement. Some companies like Amazon have so far refused to recognize workers who have voted to form a union. The union bid at the Microsoft subsidiary, however, stands out from some of the others because of Microsoft’s openness to employee organizing efforts. Microsoft last year entered into a neutrality agreement with the CWA, which is also supporting organizing efforts from workers at Activision Blizzard, the gaming giant Microsoft agreed to acquire for $68.7 billion.

☆ No 'substantive' settlement talks between U.S. FTC, Microsoft over Activision -lawyer
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

FTC attorney James Weingarten, speaking in a brief telephonic pretrial hearing, said there were no "substantive" settlement discussions between the two sides under way. The case reflects the muscular approach to antitrust enforcement being taken by the administration of U.S. President Joe Biden. Michael Chappell, the FTC administrative law judge, will rule on the deal after hearings set for August 2023. Either side can then appeal to the same FTC commissioners who voted to bring the challenge, and then to a U.S. appeals court. The deal faces scrutiny in the European Union which is to decide by March 23 whether to clear or block the deal.

☆ First pre-trial hearing in Microsoft-Activision case set for Jan. 3
▼ + stars: | 2022-12-30 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 30 (Reuters) - A judge has set Jan. 3 for the first pre-trial hearing in the Biden administration's case against Microsoft (MSFT.O) over its $69 billion bid to take over "Call of Duty" maker Activision Blizzard (ATVI.O). Microsoft has countered that the deal would benefit gamers and gaming companies alike, offering to sign a legally binding consent decree with the FTC to provide "Call of Duty" games to rivals including Sony (6758.T) for a decade. Microsoft made the argument in a filing aimed at convincing a judge at the FTC to allow the deal to proceed. The case is a sign of the administration of U.S. President Joe Biden taking a muscular approach to anti-trust enforcement. Reporting by Alexandra Alper; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ Dealmakers will be lucky to eke out a 2022 repeat
▼ + stars: | 2022-12-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +3 min

NEW YORK, Dec 29 (Reuters Breakingviews) - As with often value-destructive mergers and acquisitions, the numbers aren’t adding up for dealmakers. Meanwhile, deal volume tumbled to about $3.5 trillion, 36% down from the same time a year earlier, though it stayed ahead of 2020’s pace. Private equity firms already accounted for an all-time high of 22% of deal volume in 2022. As potentially bleak economic circumstances loom, bankers will be lucky to eke out a repeat of 2022. CONTEXT NEWSWorldwide mergers and acquisitions volume for 2022 stood at $3.5 trillion as of Dec. 12, according to Refinitiv data.

☆ Baird's top stock picks for 2023 include Tesla and this favorite retailer
▼ + stars: | 2022-12-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Tesla shares have come under selling pressure this year in the wake of Elon Musk's takeover of Twitter . News of an extended shutdown at its factory in Shanghai pushed down Tesla shares by more than 11% on Tuesday. Tesla stock has plunged about 69% this year and is on pace for its worst month, quarter and year ever. The brand's position as a leading specialty fragrance retailer, with consistent product replenishment cycles, should stabilize demand even in a downturn, wrote analyst Mark Altschwager. But that premium is justified given Chipotle's positioning for solid EPS gains and double-digit revenue growth over time, wrote analyst David Tarantino.

☆ Key Tests Loom in 2023 for U.S. Antitrust Enforcers
▼ + stars: | 2022-12-28 | by ( Jan Wolfe | ) www.wsj.com time to read: 1 min

The Federal Trade Commission, in Washington, is challenging Microsoft’s proposed acquisition of videogame maker Activision. WASHINGTON—The U.S. government’s aggressive approach to antitrust enforcement faces key tests in 2023, with rulings expected in several high-profile cases against Silicon Valley technology giants. The Justice Department and the Federal Trade Commission have in recent years adopted a “high-risk legal strategy” of bringing difficult cases that push the boundaries of antitrust law, said Rebecca Allensworth , a professor at Vanderbilt Law School.

☆ 25 top PR hires of 2022, as companies like Activision and McDonald's grabbed executive talent to message around M&A and economic volatility
▼ + stars: | 2022-12-28 | by ( Michael Kaminer | ) www.businessinsider.com time to read: +1 min

Public relations jobs were in hot demand as companies navigated an economic crises and M&A scrutiny. Top talent from places like the Biden administration, and the NFL became available in 2022.Insider tallied up the year's biggest executive hires in the public relations industry. The PR industry's talent wars raged on this year, agency owners and executives tell Insider, as firms push into content, production, and even management consulting. The right hires can affect business. A well-connected executive can reel in business from high-level contacts and leverage those connections on behalf of clients.

☆ Big Tech predictions for 2023: A rival for Twitter, Amazon deceleration, Google's AI wake-up call, Microsoft's serious game, cloud bills, and DTC decline
▼ + stars: | 2022-12-28 | by ( Hugh Langley | Kali Hays | Ashley Stewart | ) www.businessinsider.com time to read: +9 min

The painful adjustments will ripple across the industry in 2023.Insider's Big Tech reporters share what to watch this coming year. At $44 billion, the debt-fueled deal was completed quickly at valuations from the frothy tech bull market of 2021. Jonathan Raa/NurPhoto via Getty ImagesThe slow breakdown of Twitter under Musk appears to be upon us. Mastodon has experienced a major influx of users, hitting more than 5 million accounts after Musk took over Twitter. With intense tech antitrust scrutiny, these new services are unlikely to be gobbled up by Big Tech.

☆ Activision's Boston studio workers announce unionization
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

Dec 27 (Reuters) - A majority of workers at videogame publisher Activision Blizzard Inc's (ATVI.O) recently acquired studio Proletariat said on Tuesday that they are forming a union with the Communications Workers of America. The move would make the Boston-based studio, the third Activision Blizzard studio to seek unionization. The 57 workers in the Proletariat unit – that include animators, designers, engineers, producers and quality assurance workers – said they have filed for a union representation election with the National Labor Relations Board. Earlier in July, Activision said that it had Proletariat to expand the development pipeline of its online role-playing game "World of Warcraft". Workers who test games at Activision's unit Blizzard Albany have voted to form a union months after the company began negotiating with employees at its Wisconsin unit, the first in the company to unionize.

"It's a combination of the FTC and (Justice Department) being willing to litigate and the fact that companies are fighting back," Grosberg said. More recently, they have lost four attempts to block mergers in court, though they are appealing two of the cases. The Justice Department did not immediately respond to requests for comment. Break-up fees that acquirers agree to pay their targets if their deal gets shot down by antitrust regulators are also on the rise. Many companies facing merger challenges say they will fight on, emboldened by the four court losses of the Justice Department and FTC.

☆ Microsoft tells judges its $69 bln Activision deal would benefit gamers
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: 1 min

Dec 22 (Reuters) - Microsoft Corp (MSFT.O) said on Thursday that its $69 billion bid to buy "Call of Duty" maker Activision Blizzard (ATVI.O) would benefit gamers and gaming companies alike. Microsoft made the argument in a filing aimed at convincing a judge at the U.S. Federal Trade Commission to allow the deal to proceed, after FTC commissioners said the merger would hamper competition in the gaming industry in a complaint this month aimed at blocking the deal. Reporting by Diane Bartz and Paresh Dave; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Microsoft Responds to FTC Suit Over Activision Deal
▼ + stars: | 2022-12-22 | by ( Sarah E. Needleman | ) www.wsj.com time to read: 1 min

Microsoft Corp. has filed a rebuttal to a Federal Trade Commission lawsuit aimed at blocking the software giant’s $75 billion purchase of Activision Blizzard Inc., saying the deal will not hurt competition in the videogaming industry. The software giant said in its defense of the deal that it is not the videogame industry’s top console company or software developer and its acquisition is aimed at becoming more competitive through its Xbox videogaming unit.

☆ Microsoft tells judges its $69 billion Activision deal would benefit gamers
▼ + stars: | 2022-12-22 | by ( ) edition.cnn.com time to read: +2 min

Microsoft Corp said on Thursday its $69 billion bid to buy “Call of Duty” maker Activision Blizzard would benefit gamers and gaming companies alike. “The acquisition of a single game by the third-place console manufacturer cannot upend a highly competitive industry. That is particularly so when the manufacturer has made clear it will not withhold the game,” Microsoft said in Thursday’s filing. The US Department of Justice recently stopped a $2.2 billion merger of Penguin Random House, the world’s largest book publisher, and smaller US rival Simon & Schuster. The Microsoft deal is also facing scrutiny outside the United States, with the European Union saying it would decide by March 23, 2023, whether to clear or block the deal.

☆ Microsoft responds to FTC case seeking to block Activision Blizzard deal
▼ + stars: | 2022-12-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Microsoft on Thursday filed its response to U.S. regulators' antitrust case attempting to block the software maker from buying video-game publisher Activision Blizzard . But then Microsoft revealed its plan to buy Activision Blizzard. To relieve government opposition to the deal, Microsoft has offered concessions. "Sony refuses to deal," Microsoft said in its filing. In the months since then, two groups of Activision Blizzard employees have voted to form unions.

☆ Video gamers sue Microsoft in US court to stop Activision takeover
▼ + stars: | 2022-12-21 | by ( ) edition.cnn.com time to read: +2 min

Reuters —Microsoft Corp was hit on Tuesday in US court with a private consumer lawsuit claiming the technology company’s $69 billion bid to purchase “Call of Duty” maker Activision Blizzard Inc will unlawfully squelch competition in the video game industry. The private lawsuit also seeks an order blocking Microsoft from acquiring Activision. It was filed on behalf of 10 video game players in California, New Mexico and New Jersey. The proposed acquisition would give Microsoft “far-outsized market power in the video game industry,” the complaint alleged, “with the ability to foreclose rivals, limit output, reduce consumer choice, raise prices, and further inhibit competition.”A representative for Microsoft did not immediately comment on Tuesday. The FTC previously said it sued to stop “Microsoft from gaining control over a leading independent game studio.” The agency said the merger would harm competition among rival gaming platforms from Nintendo Co Ltd and Sony Group Corp.

☆ Video gamers sue Microsoft in U.S. court to stop Activision takeover
▼ + stars: | 2022-12-20 | by ( Mike Scarcella | Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | ) www.reuters.com time to read: +2 min

It was filed on behalf of 10 video game players in California, New Mexico and New Jersey. A Microsoft representative on Tuesday defended the deal, saying in a statement that it "will expand competition and create more opportunities for gamers and game developers." After the FTC sued, Microsoft President Brad Smith said, "We have complete confidence in our case and welcome the opportunity to present our case in court." Private plaintiffs can pursue antitrust claims in U.S. court, even while a related U.S. agency case is pending. The FTC previously said it sued to stop "Microsoft from gaining control over a leading independent game studio."

☆ Netflix will be next on Microsoft’s shopping list
▼ + stars: | 2022-12-20 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

Look for him to add Netflix (NFLX.O) to the list in 2023. Since his 2014 promotion into the technology titan’s corner office, Nadella has embarked on a pricey shopping spree. Later, Microsoft bought LinkedIn for $26 billion and the speech recognition and artificial intelligence software developer Nuance for $20 billion. Even if Nadella loses out on the video-game company for competition reasons, however, owning Netflix would make strategic sense and probably be an easier sell in Washington and Brussels. With a market value 13 times that of Netflix, as of early December, $1.8 trillion Microsoft can afford Netflix.

☆ EU regulators quiz rivals on Microsoft tactics after Activision
▼ + stars: | 2022-12-20 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

[1/2] Activision games "Call of Duty" are pictured in a store in the Manhattan borough of New York City, New York, U.S., January 18, 2022. REUTERS/Carlo Allegri/File PhotoBRUSSELS, Dec 20 (Reuters) - EU antitrust regulators have asked game developers and distributors if they think Microsoft (MSFT.O) will block their access to Activision Blizzard's (ATVI.O) games once it has bought the company, an EU document seen by Reuters shows. "Please specify which partial exclusivity strategy or strategies you believe Microsoft would have the ability to deploy with respect to Activision Blizzard's console games after Microsoft's acquisition of Activision Blizzard," the questionnaire asked. The EU antitrust watchdog asked if such strategies would include degrading the quality or interoperability of Activision's games available on competing consoles or providing upgrades to Activision's games only on Xbox. Regulators asked what advantages and disadvantages game developers and publishers and console game distributors would face if a game is distributed exclusively on one console.

Search resuls for: "Activision"

25 mentions found