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☆ Broadcom closes $69 billion VMware deal after China approval
▼ + stars: | 2023-11-22 | by ( Harshita Mary Varghese | ) www.reuters.com time to read: +2 min

Broadcom Limited company logo is pictured on an office building in Rancho Bernardo, California May 12, 2016. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 22 (Reuters) - Broadcom (AVGO.O) on Wednesday closed its $69 billion acquisition of cloud-computing firm VMware (VMW.N) after receiving regulatory approval in last major market China and ending a months-long saga. The deal, one of the biggest globally when announced in May 2022, was the latest in CEO Hock Tan's efforts to boost the chipmaker's software business. However, the transaction faced tough regulatory scrutiny across the world and the companies had delayed the closing date three times. Big Tech mergers such as Microsoft's (MSFT.O) now-closed $69 billion purchase of the "Call of Duty" publisher Activision have faced heightened regulatory pressure from the U.S. Federal Trade Commission under its Chair Lina Khan.

Persons: Mike Blake, Hock, Xi Jinping, Joe Biden, Danni Hewson, AJ Bell, Cabot Henderson, Lina Khan, Harshita Mary Varghese, Sriraj Organizations: Broadcom, REUTERS, VMware, U.S, European Commission, Marvell Technology, Markets Authority, CMA, Activision, Big Tech, U.S . Federal Trade Commission, Thomson Locations: Rancho Bernardo, California, China

☆ North Korea scraps military deal with South, vows to deploy new weapons at border
▼ + stars: | 2023-11-22 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +5 min

A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, February 7, 2023. Russia and North Korea have denied arms deals but have promised deeper cooperation, including on satellites. South Korea resumed the use of crewed and uncrewed reconnaissance aircraft in the border area on Wednesday, Yonhap news agency reported. Critics have said that the pact weakened Seoul's ability to monitor North Korea, and that Pyongyang had violated the agreement. South Korea has said the North Korean satellite was believed to have entered orbit, but it would take time to assess whether it was operating normally.

Persons: Kim Hong, Kim Jong Un, Vladimir Putin, Moon Jae, Moon Chung, Moon, Kim, Critics, Bruce Klingner, Klingner, Soo, hyang Choi, Josh Smith, David Brunnstrom, Sonali Paul, Ed Davies, Gerry Doyle Organizations: REUTERS, Rights, North, ., U.S . Department of State, CMA, ROK, South Korean, Yonsei University, CIA, U.S, Heritage Foundation, North Korean, Thomson Locations: Gijungdong, North Korea, Panmunjom, South Korea, Rights SEOUL, Seoul, Russia, Pyongyang, . North Korea, Korea, Washington

☆ Military agreement fractures as tensions rise with North Korea
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +4 min

A rocket carrying a spy satellite Malligyong-1 is launched, as North Korean government claims, in a location given as North Gyeongsang Province, North Korea in this handout picture obtained by Reuters on November 21, 2023. South Korea had accused Pyongyang of violating the agreement after North Korean artillery shells fell into a maritime buffer zone that was supposed to be free of live-fire drills under the agreement. The North then said South Korea had resumed the use of propaganda loudspeakers at the border in violation of the agreement. South Korea's military will restart aerial surveillance in border areas, which had been conducted before the agreement was signed, the defence ministry said. South Korea said, however, its decisions on whether to take further actions to pull out of the military agreement would depend on the North's follow-up moves.

Persons: Han Duck, Kim Jong Un, Moon Jae, denuclearisation, Kim Myung, Ed Davies, Gerry Doyle Organizations: Reuters, KCNA, REUTERS Acquire, Rights, South, Korean, CMA, North, BE, Thomson Locations: North Gyeongsang Province, North Korea, Rights SEOUL, South Korea, Korea, South, Pyongyang, Seoul

☆ UK proposes changes to antitrust assessment after Microsoft-Activision case
▼ + stars: | 2023-11-20 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

CMA panel chair Martin Coleman said under the proposals, the merging parties would have an opportunity to make representations after seeing the full version of the case against in an interim report. "Throughout the process it will be open to merger parties to discuss remedies with the group at an early stage if they so wish." By introducing a number of prompts for merging parties to consider without prejudice," she said. She said that the agency's strong preference for structural remedies remained and added that changes would only succeed if merging parties engaged in good faith. Reporting by Paul Sandle and Muvija M, writing by Sarah Young, editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Martin Coleman, Sarah Cardell, We've, Paul Sandle, Sarah Young, William James Our Organizations: Microsoft, Activision, Markets Authority, European Union, CMA, Thomson Locations: Britain

☆ Jelly Roll’s career is a life lesson for us all
▼ + stars: | 2023-11-18 | by ( Lisa France | Analysis Lisa Respers France | ) edition.cnn.com time to read: +5 min

Kevin Winter/Getty ImagesCountry music artist Jelly Roll is having a hell of a year. That felt somewhat apropos given that Jelly Roll got his start in the rap game before becoming a country rocker (watch his doc “Jelly Roll: Save Me” on Hulu if you want to learn more). His later in life success and genre jump are proof positive that everyone’s road to success looks different. Even his accidently dropping and shattering his CMA Award offers a life lesson. Here’s to Jelly Roll smashing records in the future – and not awards.

Persons: Let’s, Roll, Kevin Winter, Jelly Roll, He’s, “, ”, I’d, “ I’ve, Jelly, Mario Tama, Duncan Crabtree, It’s, Dolly Parton, Mario Anzuoni, Sting, Miley Cyrus, Steve Perry, Lizzo, Prince, Rockstar ”, Can’t, Al Capone, Peter Dinklage, –, Pablo Escobar – Organizations: CNN, Bridgestone Arena, CMA, “ Entertainment, SAG, The Guardian, Reuters, Rockstar, Netflix Locations: Nashville, Hulu, Ireland, Hollywood, Rhinestones

☆ Ousted OpenAI CEO Altman welcome in France, minister says
▼ + stars: | 2023-11-18 | by ( ) www.cnbc.com time to read: +2 min

Sam Altman, CEO of OpenAI, speaks during The Wall Street Journal's WSJ Tech Live Conference in Laguna Beach, California on October 17, 2023. Ousted OpenAI CEO Sam Altman is welcome in France, France's digital minister said in a statement on X, a day after the board of the company behind ChatGPT fired Altman without giving a reason. "Sam Altman, his team and their talents are welcome in France if they want to," Digital Minister Jean-Noel Barrot said in a statement on X on Saturday. It uses generative AI meaning it can learn from past data to create new content including text, images and computer code. In a video message to tech leaders on Friday, Macron said generative AI has huge potential and that France plans a conference about AI in Paris next year.

Persons: Sam Altman, ChatGPT, Altman, Jean, Noel Barrot, Emmanuel Macron, OpenAI, Macron, Xavier Niel, Rodolphe Saade, Eric Schmidt Organizations: OpenAI, Tech, Conference, Digital, Microsoft, French CMA, CMA, U.S Locations: Laguna Beach , California, France, Europe, Paris, French

☆ Google might have to delay its plan to kill tracking cookies until 2025, ad industry experts believe
▼ + stars: | 2023-11-09 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

There are growing rumblings within the ad industry that Google won't be able to get rid of third-party tracking cookies until 2025 at the earliest. It has since delayed that plan twice to give the ad industry more time to prepare, but has repeatedly said it's on track for a fourth-quarter, 2024 cookie expiry date. "It's a mess," said one ad industry executive speaking on condition of anonymity in order to talk freely about the process. The CMA's latest Privacy Sandbox update listed various concerns from various constituents about the proposals. Despite some skepticism that Google can hit its 2024 deadline, many in the ad industry just want to move past third-party cookies after almost four years in limbo.

Persons: James Rosewell, Rosewell, Achim Schlosser, there's, —, Paul Bannister, Bannister, Mathieu Roche Organizations: Google, UK's, Markets Authority, CMA, Movement, European netID Foundation, Publishers, Yahoo

☆ Tracy Chapman wins CMA Award for ‘Fast Car’ decades years after first released
▼ + stars: | 2023-11-08 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

Tracy Chapman continues to make history with her 1988 hit “Fast Car” after winning song of the year at Wednesday’s Country Music Awards. Thank you to the CMAs and a special thanks to Luke (Combs) and to all of the fans of ‘Fast Car,’” Evans said on behalf of Chapman. The CMA win is a remarkable achievement given “Fast Car” debuted 35 years ago, and saw a resurgence in popularity in July after country star Luke Combs released a cover of the hit single. Combs’ cover went on to reach No. Chapman, who is the sole writer of “Fast Car,” also reached No.

Persons: Tracy Chapman, Chapman, Sarah Evans, “ I’m, Luke, Combs, ” Evans, Luke Combs, ”, “, ” Chapman, ’ ” Combs, Luke Bryan, Peyton Manning, CNN’s Lisa Respers Organizations: Bridgestone, CMA, Billboard’s, Billboard, ABC Locations: CNN’s Lisa Respers France

NASHVILLE, Tenn. (AP) — The CMA Awards are back Wednesday to honor the top artists in country music, with Lainey Wilson, Jelly Roll, Ashley McBryde and Morgan Wallen among the acts hitting the stage. Wilson is the leading nominee for the second year in a row, competing for entertainer of the year along with Carrie Underwood, Chris Stapleton, Morgan Wallen and Luke Combs. Luke Bryan and Peyton Manning will host the ceremony, which will feature a musical tribute to the late singer-songwriter Jimmy Buffett. Wilson is up for nine awards, including her collaborations with HARDY ("Wait in the Truck") and Jelly Roll (“Save Me.”)Political Cartoons View All 1237 ImagesRapper-turned-singer Jelly Roll, who earlier this year topped the CMT Music Awards, has five nominations, including best new artist. More than 30 years after she won two Grammy Awards for “Fast Car,” Tracy Champman could win a song of the year trophy at the CMA Awards thanks to Luke Combs' cover.

Persons: Lainey Wilson, Jelly Roll, Ashley McBryde, Morgan Wallen, Wilson, Carrie Underwood, Chris Stapleton, Luke Combs, Stapleton, Dan + Shay, Luke Bryan, Peyton Manning, Jimmy Buffett, HARDY, Zach Bryan, Parker McCollum, Megan Moroney, Hailey Whitters, ” Tracy Champman Organizations: Bridgestone, ABC, CMT, CMA Locations: Tenn, Hulu

☆ UK antitrust regulator to take on Big Tech with new legal power
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

A 3D printed Facebook's new rebrand logo Meta is seen in front of displayed Google logo in this illustration taken on November 2, 2021. The Competition and Markets Authority (CMA) set up a dedicated Digital Markets Unit more than two years ago, armed with the expertise to examine rapidly evolving markets like social media. The proposed "Digital Markets, Competition and Consumers" law, whose powers were originally intended to come into force in 2022, will give the unit the "teeth" to underpin its remit. A small group of big tech companies with designated status will have to comply with the rules, the government said. They could be fined up to 10% of global turnover for breaches under the proposed bill announced on Tuesday.

Persons: Dado Ruvic, Paul Sandle, Kylie MacLellan Organizations: REUTERS, Markets Authority, Markets Unit, Markets, Competition, Thomson

☆ UK secures commitments from Amazon and Meta over retail platforms
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Amazon is seen at the Viva Technology conference at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Britain's competition watchdog said on Friday it had accepted commitments from tech companies Meta (META.O) and Amazon (AMZN.O) to help protect fair competition on their retail platforms. The commitments from the U.S. tech giants mark the end of the Competition & Markets Authority's (CMA) investigation into Amazon Marketplace and Meta's use of advertising data. Amazon has committed to not use rival sellers' marketplace data to gain an unfair advantage, ensuring that third-party marketplace sellers can compete on a level-playing field, the CMA said. CMA in July had said that Amazon's offer to change the way it treats third-party sellers using its Marketplace platform addresses competition concerns in its preliminary view.

Persons: Gonzalo Fuentes, Meta, Kylie MacLellan, Farouq Suleiman, Radhika Anilkumar, William James, David Evans Organizations: Viva Technology, Porte de, REUTERS, Competition, Amazon Marketplace, CMA, Facebook, Thomson Locations: Paris, France, U.S, London, Bengaluru

While freezing temperatures are not uncommon for the time of year, the sudden change is unusual. A few days ago, uncharacteristically warm weather saw parts of northern China post record high temperatures exceeding 30C. Winter this year, however, could be warmer due to a moderate El Nino, Jia Xiaolong, deputy director of China's National Climate Centre, told a press conference on Friday. El Nino is a natural climate pattern associated with warming of the ocean surface temperatures in the central and eastern Pacific. But statistics showed that winter temperatures could fluctuate greatly during El Nino, Jia warned.

Persons: REUTER, Tingshu Wang, Doksuri, El, Jia Xiaolong, El Nino, Jia, Ethan Wang, Ryan Woo, Simon Cameron, Moore, Robert Birsel Organizations: Business, Rights, El, China Meteorological Administration, CMA, Authorities, El Nino, Climate Centre, 0.5C, Thomson Locations: China, Rights BEIJING, El Nino, Mongolia, Xinjiang, Beijing, Tianjin, Hebei, Mohe, Pacific, El

☆ UK officials close antitrust probes into Amazon’s and Meta’s retail platforms
▼ + stars: | 2023-11-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The United Kingdom’s competition watchdog has wrapped up its antitrust investigations into Amazon’s and Meta’s retail platforms, saying it has secured commitments from the US tech giants that will ultimately benefit consumers. In theory, the more businesses are able to fairly compete for consumers’ cash, the more choice consumers ultimately have. Meta’s competitors will have the option to “opt out” of the tech firm using some of their data to improve Facebook Marketplace, the CMA said. That commitment, along with others, means Meta “cannot exploit advertising customers’ data to give itself an unfair advantage — and as such distort competition,” Pope said. A spokesperson for Meta told CNN it welcomed the CMA’s decision to close its investigation into Facebook Marketplace.

Persons: Ann Pope, ” Pope, Meta Organizations: London CNN, Markets Authority, CMA, Amazon, Facebook, CNN, Meta, Global, Big Tech, US Federal Trade Commission, European Union

☆ China Set for Abrupt Switch From Warm to Freezing Weather in Year of Extremes
▼ + stars: | 2023-11-02 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - Temperatures in northern China are set to plunge as much as 20 degrees Celsius (68 Fahrenheit) after summer-like conditions in the final days of autumn, state forecasters said on Friday, extending a year-long trend of unusual swings in the weather. Parts of northern China posted record high temperatures of more than 30C earlier this week, while also suffering widespread smog. Extreme weather has become more pronounced in China this year, destroying urban infrastructure as well as farmland, leading to hefty economic losses. In the summer, typhoons dumped historic rainfall in parts of inland China less used to tropical storms. Earlier in spring, northern China basked in unseasonal heat with temperatures reaching summer-levels.

Persons: Doksuri, Ethan Wang, Ryan Woo, Simon Cameron, Moore Organizations: National Meteorological Administration, CMA Locations: BEIJING, China, Mongolia, Xinjiang, Beijing, Tianjin, Hebei province, Mohe

☆ Paris to send tents, medicine in humanitarian shipment to Gaza
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ibraheem Abu Mustafa/File Photo Acquire Licensing RightsPARIS, Oct 26 (Reuters) - Paris will send an aircraft filled with humanitarian aid for civilians in Gaza, including tents, medicine and emergency medical equipment, the French foreign ministry said on Thursday. The shipment includes 336 tents, 28 metric tons of food supplements, 70,000 water purification tablets, 18 emergency ventilators, medication and solar lamps. Ahead of the summit, diplomats spent days debating whether to call for a "humanitarian pause" or "pauses". A draft intended as a final summit declaration includes the latter, expressing the leaders' "gravest concern for the deteriorating humanitarian situation in Gaza". The French foreign ministry reiterated its call for a "humanitarian truce" to allow for delivery of urgent aid.

Persons: Khan Younis, Abu Mustafa, Tassilo Hummel, Rod Nickel Organizations: United Nations, REUTERS, Rights, CMA CGM Foundation, Thomson Locations: Gaza, Paris, Egypt, AFP, Brussels, Israel

“It is truly crazy because I went to school to be an accountant,” Moroney tells The Associated Press. All roads lead to the career-making “Tennessee Orange," where Moroney, a Georgia Bulldog through and through, puts on University of Tennessee colors for a partner. It's a football love song, one about the concessions people make in the name of affection and intimacy — and the track that fast-tracked Moroney into the country spotlight. “It's, like, not a conventional love song,” she says. But yeah, I definitely don’t belong in Tennessee Orange as a Georgia Bulldog.”For that reason, she didn't expect “Tennessee Orange” to be her breakout hit.

Persons: Tennessee Orange ”, Megan Moroney, ” Moroney, Moroney, John Langston, Miranda Lambert, Chase Rice, ”, “, Sugarland's Kristian Bush, who'd, she'd, Lori McKenna, Luke Laird, Jessie Jo Dillon, Lucky ”, Johnny Cash, Carter, Johnny ”, I'm, Z Taylor Swift, It's, —, I’m Organizations: ANGELES, Tennessee Orange, University of Georgia, Associated Press, Georgia, Sad People, Southeastern Conference, SEC, Tennessee, Georgia Bulldog, University of Tennessee, “ Tennessee Orange Locations: Nashville, Georgia, Tennessee Orange

☆ UK extends deadline on in-depth probe into Adobe's $20 bln deal for Figma
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Figurines are seen in front of displayed Adobe logo in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 25 (Reuters) - Britain's competition regulator, on Wednesday, extended by eight weeks the deadline to complete its in-depth probe into Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma, to February 2024. The CMA now has until Feb. 25 to conclude its investigation, compared to the earlier deadline of Dec. 27. In September 2022, Adobe announced a cash-and-stock deal for Figma, the biggest buyout of a privately owned software startup. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eva Mathews, Sherry Jacob, Phillips, Savio D'Souza Organizations: REUTERS, Adobe, Markets Authority, CMA, Figma, Zoom Video Communications, Airbnb Inc, Thomson Locations: Bengaluru

☆ Arcelik's European deal with Whirlpool gets EU approval
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

Employees stand at the Whirlpool company plant in the northern city of Amiens, France, June 14, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsCompanies Arcelik AS FollowWhirlpool Corp FollowGDANSK, Oct 24 (Reuters) - EU antitrust regulators have cleared Turkish domestic appliances maker Arcelik's (ARCLK.IS) proposed purchase of Whirlpool's (WHR.N) European domestic appliances business, an European Commission filing showed on Tuesday. "The Commission concluded that the transaction would not raise competition concerns given in particular the presence of alternative suppliers in the European Economic Area countries where both parties are active," the European Commission said in a statement. Under the deal announced in January, the companies will set up a new entity made up of Arcelik's European units producing major and small domestic appliances as well as consumer electronics with Whirlpool's European business. Britain's antitrust regulator said on Oct. 11 it had decided to refer the deal for an in-depth investigation.

Persons: Benoit Tessier, Arcelik, Blomberg, Canan, Daren Butler, Jason Neely Organizations: Whirlpool, REUTERS, Commission, Economic, European Commission, Markets Authority, Zenith, Thomson Locations: Amiens, France, GDANSK, Arctic, Altus, Grundig

☆ CMA CGM’s Saadé Urges Calm as Ocean Carrier Profits Plummet
▼ + stars: | 2023-10-20 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

Shipping billionaire Rodolphe Saadé said carriers should accept that the industry is returning to normal cycles that include long periods when profits are tight. Photo: benoit tessier/ReutersRodolphe Saadé, the billionaire chief executive of French container line CMA CGM, says the shipping industry shouldn’t panic over a sharp retreat in earnings. The head of the world’s third-largest liner company said in an interview that he expects the weak growth in global trade to continue through 2024. But Saadé said the tumbling profits from record highs during the Covid-19 pandemic essentially bring the business back to prepandemic levels.

Persons: Rodolphe Saadé, benoit tessier, Saadé Organizations: Shipping, CMA

Oct 20 (Reuters) - Shares of mid-sized U.S. banks fell on Friday after a string of earnings reports heightened investor concerns that the boost to lenders from the Federal Reserve's interest rate hikes was tapering off. Regions Financial (RF.N) dropped to the lowest level since March, when an industry crisis began following an outflow of deposits that engulfed three banks. The lender, shares of which were last down 11% at $14.71, said it expects net interest income (NII) in the fourth quarter to decline about 5% from current levels. Huntington Bancshares' (HBAN.O) stock dipped 1.3%, while Comerica (CMA.N) dropped 6.6%, dragging down the S&P 500 Banks index (.SPXBK) by 2.1%. Huntington Bancshares posted an 8% drop in third-quarter profit as interest income declined.

Persons: Wells, Mike Mayo, Mayo, Terry McEvoy, Huntington Bancshares, NII . Huntington Bancshares, Jaiveer Singh, Shilpi Majumdar Organizations: Regions, Regions Financial, Reuters, Stephens, Comerica, Third Bancorp, Thomson Locations: NII ., Bengaluru

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

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

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

☆ Microsoft-Activision Blizzard takeover approved as UK removes final hurdle
▼ + stars: | 2023-10-13 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —UK antitrust officials have approved Microsoft’s planned takeover of Activision Blizzard, the maker of “Call of Duty” and other hit games, greenlighting one of the biggest tech deals of all time. The Competition and Markets Authority announced Friday that the merger had been cleared after the companies agreed to give up certain cloud gaming rights, removing the final regulatory hurdle to the deal closing. Microsoft (MSFT) unveiled the deal in early 2022, but it was blocked in April by the UK competition regulator. “The new deal will stop Microsoft from locking up competition in cloud gaming,” the agency said Friday. Alongside “Call of Duty,” it also produces “World of Warcraft” and “Overwatch.”Microsoft, which sells the Xbox gaming console, offers a popular video game subscription service called Xbox Game Pass, as well as a cloud-based video game streaming service.

Persons: “, Tencent, Brad Smith, “ we’re, ” Organizations: Hong Kong CNN —, Activision Blizzard, Markets Authority, CMA, Microsoft, Activision, European Union, Ubisoft Entertainment, Sony, Twitter Locations: Hong Kong

☆ Microsoft's $69 billion Activision Blizzard takeover approved by UK, clearing way for deal to close
▼ + stars: | 2023-10-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

The Competition and Markets Authority said it had cleared the deal for Microsoft to buy Activision but without cloud gaming rights. Microsoft offered a spate of concessions, which centered around divesting the cloud rights of Activision games to French game publisher Ubisoft Entertainment. The U.K.'s regulatory U-turnRegulators globally were concerned that the takeover would reduce competition in the gaming market, in particular around cloud gaming. Meanwhile, in the U.S., the Federal Trade Commission was fighting a legal battle with Microsoft in an effort to get the Activision takeover scrapped. "As cloud gaming grows, this intervention will ensure people get more competitive prices, better services and more choice.

Persons: Dado Ruvic, we've, Sarah Cardell, Cardell Organizations: Activision, Markets Authority, Microsoft, CMA, Ubisoft Entertainment, Ubisoft, Netflix, Reuters, Authorities, European Union, EU, Federal Trade Commission, Activision PC Locations: U.S, Europe, U.K

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