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

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

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

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

☆ Microsoft says it will sell Activision streaming rights to Ubisoft to unblock its takeover bid
▼ + stars: | 2023-08-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Microsoft has restructured its deal to hand Activision cloud gaming rights to rival Ubisoft. Microsoft really wants to get its takeover of Activision Blizzard over the line. The tech giant has substantially restructured its deal to try and appease the UK regulator's concerns that a takeover would hurt competition in cloud gaming. The new deal involves selling Activision cloud-gaming rights for countries outside the European Economic Area to video-game publisher Ubisoft. Microsoft announced its intent to acquire Activision Blizzard for $68.7 billion in January 2022, but the deal has been entangled in competition concerns ever since.

Persons: Sarah Cardell, Brad Smith Organizations: Microsoft, Activision, Ubisoft, Morning, Activision Blizzard, Economic Area, Cloud Gaming, European Commission, Markets Authority, CMA Locations: British

Ex-Trump chief of staff Mark Meadows and former Acting U.S. Attorney General Matthew Whitaker are board members. The complaints come as many experts expect an uptick in challenges to corporate diversity programs following a U.S. Supreme Court ruling in June that prohibited race-conscious college admissions policies. “There certainly is a deep psychological effect that is putting the brakes on the forward movement of diversity in the workplace,” Rossein said. America First has also filed lawsuits accusing Target Corp and Progressive Insurance of breaching their duties to shareholders by adopting diversity programs and progressive marketing campaigns, for instance celebrating LGBTQ Pride Month. Commissioner Andrea Lucas, a Trump appointee, filed a dozen charges last year, more than any of her colleagues.

Persons: Trump, Stephen Miller, Donald Trump's Mar, Jonathan Ernst, Activision's, Kellogg, Morgan Stanley, Donald Trump, Mark Meadows, Matthew Whitaker, Rick Rossein, ” Rossein, Hershey, Andrea Lucas, Lucas, Gene Hamilton, Daniel Wiessner, Alexia Garamfalvi, Daniel Wallis Organizations: REUTERS, Activision Blizzard Inc, Kellogg, U.S, Opportunity Commission, America, Starbucks Corp, McDonald's Corp, Anheuser, Busch Companies, Hershey Co, Republican, Trump, Supreme, City University of New York School of Law, Target Corp, Progressive Insurance, Activision, Democratic, Thomson Locations: Lago, Palm Beach , Florida, U.S, America, Albany , New York

☆ CBS News names Wendy McMahon as new chief
▼ + stars: | 2023-08-14 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

CBS News on Monday named Wendy McMahon as its CEO and president. The role expands McMahon's prior role as co-president to having solo oversight over CBS News and its stations. McMahon will be in charge of all of CBS News' broadcast and streaming operations, as well as its 27 local TV stations, 14 local streaming channels and syndication programming. She'll also oversee content licensing to TV stations and the division's national ad sales business. McMahon will was also named president of CBS Media Ventures.

Persons: Wendy McMahon, McMahon, Neeraj Khemlani, Khemlani, Simon, Simon & Schuster, She'll, Drew Barrymore, CBS Newspath, Steven LoCascio, LoCascio Organizations: CBS, CBS News, Sunday, Simon &, Paramount, KKR, CBS Radio, CBS Media Ventures

REUTERS/Dado Ruvic/Illustration/File PhotoAug 10 (Reuters) - China's Alibaba Group Holding (9988.HK) reported its strongest quarterly revenue growth in almost two years on Thursday, boosted by a mid-year shopping festival that attracted bargain hunting consumers amid a sober economic environment. The Chinese e-commerce giant posted first-quarter revenue of 234.16 billion yuan ($32.29 billion), up 14% from the prior-year quarter which was hit by strict pandemic lockdowns. The figurebeat analysts' estimates of 224.92 billion yuan, according to Refinitiv data. Regulatory concern has eased for China's tech giants, including Alibaba, this year, with Chinese authorities keen to boost private sector confidence. (1 Chinese yuan renminbi = $0.1387)Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Daniel Zhang, Eddie Yongming Wu, Alibaba's, Joseph Tsai, Yuvraj Malik, Shounak Dasgupta, Sharon Singleton Organizations: REUTERS, HK, Cloud Intelligence Group, Tmall, PDD Holdings, Thomson Locations: U.S, China, Alibaba, Bengaluru

☆ 13 Hollywood production companies making brand films that streamers like Netflix and Apple want to buy
▼ + stars: | 2023-08-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

said Marc Gilbar, who runs the brand division at Imagine Entertainment. Some are also looking to brand films to offset some of the revenue they're losing in the dual Hollywood strikes. (Brand films are often unscripted and thus aren't governed by the Hollywood unions.) They also see brand work being a positive for below-the-line workers who are idled by the work stoppage. Led by EVP Kate Oppenheim, Tribeca Studios' projects have included "We Could be King" (ESPN2) for Dick's Sporting Goods and P&G's Queen Collective series (BET).

Persons: Ben Silverman, Issa Rae's Hoorae, Kevin Hart's Hartbeat, Julian Jacobs, we've, Marc Gilbar, Samuel L, Jackson, Emma Stone, Zac Ryder, Olivia Wilde, Laurene Powell Jobs, Caitlin McGinty, It's, James Gay, Rees, Paul Martin, Kevin Hart's, Hart, Hartbeat, Brian Price, Chase Sapphire, Procter, Reese Witherspoon, Zoe Fairbourn, Ron Howard, Brian Grazer's, Ron Howard's, Bryce Dallas Howard, Gilbar, Rocco DiSpirito, General Mills, Rupert Maconik's Saville, Werner Herzog, Barry Levinson, Sugar23, Oscar, Michael Sugar, Trevor Noah's, he's, Kennedy, Matt Rotondo helms, Sugar, Mike Beck, Alexa Conway, Trevor Noah, Kate Oppenheim, HBO Max, Paul McCartney, Mary McCartney Ventureland, Kerstin Emhoff, Paul Hunter, John Battsek, Stacy's Pita Chips, Will, Jada Pinkett, REI, Gargi Organizations: Hollywood, Brands, Mattel, Netflix, Apple, UTA, Imagine Entertainment, Producers, Adobe, IBM, Anonymous, HP, Afghan Girls National Soccer Team, Showtime, Pepsi Boardwalk Pictures, Relativity Media, Super, Pepsi, REI, Unilever, Marriott, Surf League, Major League Soccer, Sam's, Gamble, Weinstein Co, Hulu, Imagine, Paramount, Saville Productions, Disney, Time Studios, Procter & Gamble, Anheuser, Busch, InBev, CAA, Studios, MSNBC, ABC, NBC, Tribeca Studios, Dick's Sporting Goods, HBO, CNN, Mobile, Stacy's, Everest, Vice Studios, Westbrook Media, Meta, Logitech, Samsung Locations: Hollywood, Subway, Magnolia

☆ Striking Hollywood writers, studios meet to discuss resuming talks
▼ + stars: | 2023-08-04 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

[1/5] SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., August 2, 2023. REUTERS/Mario AnzuoniLOS ANGELES, Aug 4 (Reuters) - As the Hollywood writers' strike approaches the 100-day mark, Writers Guild of America (WGA) negotiators will meet on Friday with representatives of the major studios for the first time in three months to discuss whether contract talks can resume. "We challenge the studios and AMPTP to come to the meeting they called for this Friday with a new playbook," the WGA said in an email. Fox is expected to announce that television's Emmy Awards will be rescheduled to air in January due to the strikes, the Los Angeles Times reported, citing a person familiar with the plans. Reporting by Dawn Chmielewski in Los Angeles; additional reporting by Danielle Broadway in Los Angeles Editing by Mary Milliken and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Mario, Walt Disney, Fox, Jorge A . Reyes, Kevin Hill, Dawn Chmielewski, Danielle Broadway, Mary Milliken, David Gregorio Our Organizations: Writers Guild of America, Paramount Studios, REUTERS, Hollywood, Guild of America, WGA, Television Producers, Walt, Netflix, Screen Actors, Los Angeles Times, Warner Bros Discovery, Thomson Locations: Los Angeles , California, U.S, Los Angeles

☆ ‘He's torturing people': Video shows Russian troops being stripped naked and forced to pluck grass
▼ + stars: | 2023-08-04 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +2 min

A new video purports to show a Russian military brigade commander hazing Russian soldiers. The troops in the video are stripped naked and forced to pluck grass and hit with batons. Soldiers narrating the video lament the effect of hazing and claim it will cause a "mutiny." In the video posted on Thursday, soldiers narrating the video said they were approaching their limit with the behavior. "They'll get a mutiny if they keep going that way," a soldier narrating the video says, per WarTranslated.

Persons: WarTranslated, Russia's, They'll Organizations: Service, Russia's 4th Tank, Russian, 4th Guards, Moscow Times Locations: Russian, Wall, Silicon, Ukraine, Moscow, Estonian, London, Naro

The beat was underpinned by much lower-than-expected "cost of risk" - money set aside for failing loans - of 166 million euros. Analysts had expected 430 million euros. Dubbed a "year of transition" by Krupa's predecessor Frederic Oudea, 2023 is also marked by a severe downturn at SocGen's French retail banking division, fresh from a merger of its two local networks. The second quarter was also affected by negative exceptional items of 240 million euros, which Credit Suisse analysts said were tied to "legacy legal disputes". Retail banking outside France fared better, as did SocGen's car leasing division ALD Automotive (ALDA.PA), whose sales jumped by more than 17% thanks to the acquisition of rival LeasePlan.

Persons: Gonzalo Fuentes, Krupa, Slawomir Krupa, France's, Jefferies, Frederic Oudea, Intesa, LeasePlan, SocGen, Mathieu Rosemain, Augustin Turpin, Ingrid Melander, Mark Potter Organizations: Societe Generale, La Defense, REUTERS, Royal Bank of Canada, European Central Bank, Credit Suisse, Retail, ALD Automotive, Thomson Locations: French, Courbevoie, Paris, France, PARIS, Russia

☆ Apple's most profitable line of business is making up for some hardware struggles
▼ + stars: | 2023-08-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple's third-quarter earnings report on Thursday showed a revenue decline in the company's most iconic hardware products — iPhone, iPad and Mac. But offsetting the hardware softness is accelerating growth in services, Apple's most profitable business. In the June quarter, services grew over 8% to $21.2 billion in sales, speeding up from 5.5% the prior period. Gross margin for services in the June quarter was 70.5%, almost double the 35.4% margin for all of Apple's hardware products. Apple won't set growth records for its services business, which topped 38% at one point during the pandemic.

Persons: Tim Cook, Luca Maestri, they're, Maestri Organizations: Apple

☆ Barbie's founder jokes in the 'Barbie' movie about getting in trouble with the IRS. Here's what actually happened.
▼ + stars: | 2023-07-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

The fictional Ruth Handler jokes in Greta Gerwig's "Barbie" about getting in trouble with the IRS. The real-life Handler was indicted for conspiracy and making false financial statements to the SEC. "I am Mattel," Handler, played by Rhea Perlman says in the movie. Under the settlement, around $30 million was paid to shareholders and the Handlers surrended two million Mattel shares. Handler wrote that she was "convinced" that the US Attorney's Office went after her "so aggressively" because of her gender.

Persons: Ruth Handler, Greta Gerwig's, Handler, Rhea Perlman, Barbie, Elliot, Ruth Handler's, Seymour Rosenberg, Rosenberg, Robert Takasugi Organizations: IRS, SEC, Service, Mattel, New York Times, betweeen, Securities and Exchange Commission, Bank of America, Mattel VP, Los Angeles Times, US Attorney's Locations: Wall, Silicon

☆ Paul Reubens, actor best known as Pee-wee Herman, dies at 70
▼ + stars: | 2023-07-31 | by ( Austin Mullen | David K. Li | ) www.cnbc.com time to read: +3 min

Actor Paul Reubens arrives as a guest for Comedy Central television's South Park The Tenth Season party in Los Angeles September 21, 2006. Actor Paul Reubens, who came to fame in the 1980s as children's TV star Pee-wee Herman, has died years after a cancer diagnosis, his team said Monday. Reubens rocketed to fame for creating the sarcastic but good-natured man-child Pee-wee Herman, a character whose red bowtie and sneering catch phrases — "I know you are, but what am I?" That eventually led to Reubens' big break, the 1985 movie "Pee-wee's Big Adventure," helmed by first-time feature film director Tim Burton. The success of "Pee-wee's Big Adventure" led to Reubens landing a Saturday morning CBS show, "Pee-wee's Playhouse."

Persons: Paul Reubens, Herman, Paul, Reubens, I've, Tim Burton, Penelope Cruz, Johnny Depp, Jimmy Kimmel Organizations: Comedy Central, Facebook, HBO, CBS, wee's Locations: Los Angeles, American, Sarasota Florida

☆ The Biden administration just announced plans to crack down on more than 4,400 new cases of child labor in the US since October
▼ + stars: | 2023-07-31 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

The Department of Labor is heightening enforcement of child labor laws through new partnerships and tactics. On Thursday, the Department of Labor announced it would take more measures to crack down on illegal child labor nationally, including heightening enforcement of child labor laws through new tactics and partnering with other agencies and foreign governments. "Like the President, we believe that any child working in a dangerous or hazardous environment is one child too many." This comes after the department's February 2023 announcement of the Interagency Task Force to Combat Child Labor Exploitation, created in response to a 69% increase in illegal child labor findings from 2018 to 2022. Sixteen more McDonald's franchise locations in Louisiana and Texas were found in violation of child labor laws last week, impacting 83 minors.

Persons: Biden, Labor Julie Su Organizations: of Labor, Service, Department of Labor, Labor, Department of Health, Human Services, Refugee Resettlement, The Department of Labor, Housing, Urban Development, Transportation, US Small Business Administration, Commission, The Labor, State, Department of Education, Interagency, Force, Combat, The Locations: Wall, Silicon, Colombia, El Salvador, Guatemala, Honduras, Mexico, Minnesota, Kentucky , Indiana , Maryland, Ohio, Louisiana, Texas, Missouri , Ohio, South Dakota

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

☆ Fox likely to push Emmys to January due to strikes - reports
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - Fox is expected to announce soon that television's Emmys will be rescheduled to air in January next year due to strikes by writers and actors in the United States, the Los Angeles Times reported on Thursday, citing a person familiar with the plans. The strikes were expected to delay the Emmys ceremony beyond its normal September date. Variety reported earlier on Thursday that vendors for the Emmys Awards had been informed of the imminent date change. Fox declined to comment while the Television Academy did not immediately respond to Reuters. Reporting by Shubhendu Deshmukh, Bharat Govind Gautam and Gokul Pisharody in Bengaluru; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Fox, Shubhendu Deshmukh, Bharat Govind Gautam, Gokul, Christian Schmollinger Organizations: Fox, Los Angeles Times, LA Times, Hollywood, Variety, Television Academy, Reuters, Thomson Locations: United States, Bengaluru

☆ Julian Salisbury was once considered a contender for Goldman Sachs CEO. Now the asset and wealth management CIO is leaving.
▼ + stars: | 2023-07-28 | by ( Emmalyse Brownstein | Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

Now, Julian Salisbury is leaving Goldman Sachs after 25 years without a replacement. In a memo Friday, CEO David Solomon thanked Salisbury, chief investment officer of the bank's asset and wealth management division, for his "contributions to Goldman Sachs, our clients and our people." Also leaving the bank is Takashi Murata, co-head of Asia Pacific private investing and global co-head of real estate within Goldman Sachs' asset management unit. Nachmann's memo said Richard Spencer will become EMEA head of Real Estate and Nikhil Reddy will become Asia Pacific head of Real Estate. That's part of the virtuous ecosystem of Goldman Sachs," he added.

Persons: Julian Salisbury, Goldman, Goldman Sachs, David Solomon, Salisbury, Marc Nachmann, Takashi Murata, Jim Garman, Nachmann, Richard Spencer, Nikhil Reddy, Richard, Nikhil, Murata, Solomon Organizations: Goldman, Management, GS, Sixth, Wall Street, Asia Pacific, EMEA Locations: Salisbury, Asia Pacific

Often dubbed "Russia's Google", Yandex has struggled to balance domestic pressures with the interests of its Western investors since Russia sent troops into Ukraine in February 2022. Yandex's net income fell to 9.6 billion roubles ($106.8 million) while its adjusted earnings before income, tax, depreciation and amortisation (EBITDA) fell 4% to 24.7 billion roubles. Revenue continued to grow, however, gaining 55% to 182.5 billion roubles, Yandex said. Yandex's Dutch-registered holding company is advancing plans to divest ownership and control of most of Yandex Group with a corporate restructuring. U.S. sanctions imposed last week on Alexei Kudrin, the former finance minister now spearheading Yandex's restructuring efforts, could hamper those plans.

Persons: Yandex, Alphabet's, Alexei Kudrin, Gleb Stolyarov, Alexander Marrow, Jason Neely, Emma Rumney Organizations: Google, Yandex, Reuters, Thomson Locations: Russian, Ukraine, Russia, Yandex's, U.S

☆ You can get paid $2,000 to watch the 2023 Emmy Awards. Here's how.
▼ + stars: | 2023-07-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

InfinityDish is awarding one lucky American $2,023 to watch the Emmy Awards broadcast in September. The winner will also receive a $50 GrubHub gift card, popcorn, a red carpet, and an Emmy statue replica. InfinityDish opened its 2023 Emmy contest application to TV buffs in late July. The contest requires applicants to submit a 100-word statement on "why you're the perfect person to get paid to watch the Emmys live." The Television Academy announced the 2023 Emmy nominees earlier this month, with HBO's "Succession," "The White Lotus," and "The Last of Us" dominating.

Persons: InfinityDish, HBO's Organizations: television's, Dish Network, InfinityDish, Hulu, The Television Academy Locations: American

The figures underscore broader trends in global banking, with investment banks struggling as deals are paused, while higher interest rates are a boon to other divisions. Analysts expect the retail unit will also overtake the investment bank as the main revenue driver for the full year, overturning the investment bank's pole position over the previous three years. Investment banking revenue dropped 11% during the quarter, better than an expected 16% drop. Deutsche Bank set out in 2019 to reduce dependence on its volatile investment bank and rely instead on more stable businesses that serve companies and retail customers as a way to restore profitability. Chief Financial Officer James von Moltke said the shift to the retail bank as the largest breadwinner was "significant" because the perception of the lender had been dominated over years by the investment bank, and Deutsche was becoming more balanced.

Persons: James von Moltke, Deutsche, Jeffrey Epstein, Tom Sims, Matthias Inverardi, Friederike Heine, Jamie Freed Organizations: Deutsche Bank, Reuters Graphics, Reuters, Deutsche, Reuters Graphics Deutsche, U.S . Federal Reserve, U.S, Thomson Locations: FRANKFURT

☆ Jeffrey Epstein withdrew up to $80,000 in cash 'several times a month' while he paid girls for 'massages,' court filings say
▼ + stars: | 2023-07-25 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

At the time, there were reports that he paid cash to girls for "massages" — a code word for sex. When asked about the large withdrawals, Epstein said he needed to pay for jet fuel. JPMorgan's private bank has a policy to "discourage" large cash deposits and spending. Bankers, according to an excerpt of the guidelines filed in court Tuesday morning, are responsible for getting clients to explain their large cash withdrawals. "Issue is he really never stopped the large cash withdrawals," a compliance officer wrote then.

Persons: Jeffrey Epstein, Epstein, Morgan, Jeffrey Epstein's, James, Emily Michot, Ghislaine Maxwell, sexualized massages, Glenn Dubin, Sergey Brin, Bill Gates, Leon Black, Larry Summers, Prince Andrew, Ehud Barak, Thomas Pritzker, Benjamin Netanyahu, JPMorgan, Alexander Acosta, Mr, John Duffy, Mary Erdoes, Erdoes, Duffy Organizations: JPMorgan, Morning, JPMorgan Chase, Private Bank, Banker, Islands, US Virgin Islands, U.S ., Miami Herald, Tribune, Service, Getty, Virgin Islands, police, US, Office, Southern, of Locations: Little St, U.S, U.S . Virgin Islands, Palm Beach, Sultan, Dubai, Prince, Florida, of New York

☆ Activision, Microsoft extend deal deadline to secure UK approval
▼ + stars: | 2023-07-19 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

July 19 (Reuters) - Activision Blizzard (ATVI.O) and Microsoft (MSFT.O) on Wednesday extended the deadline for the close of their $69 billion deal by three months to Oct. 18 as the American companies work to secure UK approval for the biggest gaming deal in history. The extension will "provide ample time to work through the final regulatory issues," Microsoft President Brad Smith said in a tweet. Strength in those titles helped Activision beat market estimates for second-quarter net bookings and adjusted profit in the second quarter, it announced on Wednesday. The deadline extension came after the companies had to contend with varying concerns from regulators in the UK and the United States. Microsoft responded to these concerns by offering 10-year licensing deals to rivals after the deal closes.

Persons: Brad Smith, Bobby Kotick, Chavi Mehta, Yuvraj Malik, Devika Organizations: Activision, Microsoft, Reuters, HK, Sony, Diablo, FTC, Nintendo, PlayStation, CMA, Sony Group, Xbox, Thomson Locations: United States, Bengaluru

☆ Singapore's 'squeaky clean' image takes a beating as scandals rock the government
▼ + stars: | 2023-07-19 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

watch nowOn Monday, Singapore's Prime Minister Lee Hsien Loong said he decided the incumbent speaker of the Singapore's Parliament Tan Chuan Jin "had to go." Lee Hsien Loong Singapore prime ministerSingaporeans, who are not used to political scandals, have taken to memes to express themselves. Singapore Prime Minister Lee Hsien Loong (L) shaking hands with a PAP supporter during a May election rally. SIMIN WANG | AFP | Getty ImagesThe prime minister sought to quickly control the damage, emphasizing the government's zero-tolerance on corruption to allay public concerns. The prime minister is seeking to hand over power to the next generation of leaders in the near future.

Persons: Lee Hsien Loong, Dr Koh Poh Koon, Ang Mo, Suhaimi Abdullah, Eugene Tan, Tan Ern Ser, Tan Chuan Jin, Tan, Cheng Li Hui, SMU's Tan, CNBC's, Ong Beng Seng, Felix Tan, NTU's Tan, SIMIN WANG, Lee Organizations: Action Party, Getty, Singapore Management University, CNBC, Party, National University of Singapore, Singapore's, Public Service, Nanyang Technological University, NUS, Singapore, AFP Locations: SINGAPORE, Singapore, Asia, Lee Hsien Loong Singapore

☆ Wall Street is bullish on Big Tech heading into earnings — here's what we think
▼ + stars: | 2023-07-18 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Wall Street kicked off the week with bullish takes on several high-flying tech stocks in the portfolio — validating our decision to stick with these mega-caps heading into quarterly earnings. It's also important to understand that some price target raises are just chasing a big move, and that the price reaction to an earnings release has less to do with the results and much more to do with expectations. It's also why Citigroup also put AMD on a "negative catalyst watch," meaning it is negative on the stock heading into earnings. In the analysts' view, Apple has an opportunity to grow its revenue by seven times in the U.S. over the next decade to about $40 billion, while adding 170 million new users. Microsoft What the analysts say: Analysts at Mizuho reiterated their buy rating on Microsoft while taking up their price target to $390 from $360.

Persons: bullish, Meta, It's, CUDA, Morgan Stanley, we're, —, Jim Cramer, monetize, Jim Cramer's, Jim, Jensen Huang, Sam Yeh Organizations: Nvidia, Apple, Microsoft, Devices, Citigroup, AMD, Intel, Mizuho, Activision Blizzard, JMP Securities, Jim Cramer's Charitable, CNBC, Afp, Getty Locations: U.S, China, India, Taipei

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Nonetheless, Microsoft, which makes the Xbox gaming console, has been seeking the contract extension to ensure that Activision is not wooed by another potential acquirer or has a change of heart, the source said. The terms of the extension under negotiation and whether it would come with more financially advantageous terms for Activision could not immediately be learned. Microsoft and Activision did not immediately respond to requests for comment. Microsoft and Activision are negotiating potential remedies with the Competition and Markets Authority (CMA) which they hope will appease its antitrust concerns.

Persons: Dado Ruvic, Anirban Sen, Matthew Lewis, Stephen Coates Organizations: Microsoft, Activision, REUTERS, Microsoft Corp, Competition, Markets Authority, CMA, Sony Group, Sony, U.S . Federal, Thomson Locations: Britain, U.S, New York

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