China leaves benchmark lending rates unchanged, as expected
SHANGHAI/SINGAPORE (Reuters) -China kept benchmark lending rates unchanged at a monthly fixing on Wednesday, matching market expectations, as fresh signs
2023-09-20 09:45
Ethiopian buys more Boeing 737 MAX nearly five years after deadly crash
DUBAI Ethiopian Airlines on Tuesday placed an order for Boeing 737-8 MAX narrow-body jets, nearly five years after
2023-11-14 23:52
State Bank of India Shares Fall As More Loans Turn Sour
State Bank of India saw a metric tracking loans that turn bad rise, prompting shares of the nation’s
2023-08-04 17:27
India Sticks to Borrowing Plan After JPMorgan Index Inclusion
India’s government maintained its borrowing plan for the remainder of this fiscal year, as higher revenues obviate the
2023-09-27 13:49
US Federal Pension Fund to Exclude Hong Kong Investments
The main US federal government pension will exclude investments in Hong Kong, in addition to mainland China, for
2023-11-15 14:59
Christie Says He Will Qualify for GOP Debate to Take on Trump
Former New Jersey Governor Chris Christie said Wednesday night that he’d met the Republican Party’s criteria for the
2023-07-13 10:56
Zara founder Ortega raises bet on renewables with potential Repsol deal - sources
By Pietro Lombardi and Andres Gonzalez MADRID/LONDON Inditex founder Amancio Ortega's investment firm Pontegadea is pushing further into
2023-11-08 16:55
JD Sports says still on track despite North American slowdown
By Sarah Young LONDON (Reuters) -JD Sports Fashion said there had been some softening in trade in its North American
2023-06-27 16:21
US sues to block Xbox takeover of Call of Duty developer Activision Blizzard
The US Federal Trade Commission has sued to stop Microsoft buying Call of Duty developer Activision Blizzard. It is just the latest problem for the deal, which has already been blocked by UK regulators. If completed, it will become one of the largest takeovers ever – but has faced scrutiny from regulators around the world, who argue that it might cause problems for the gaming market. The FTC's Monday filing in a federal court in San Francisco seeks a restraining order and injunction to stop Microsoft's $69 billion purchase of the California gaming company behind hit franchises such as Call of Duty and World of Warcraft. Microsoft, maker of the Xbox game system, has been struggling to win worldwide approval for the deal with just over a month before the deadline to close it, according to the contract it signed with Activision. “We welcome the opportunity to present our case in federal court," said a statement Monday from Brad Smith, Microsoft's vice chair and president. "We believe accelerating the legal process in the U.S will ultimately bring more choice and competition to the market.” The FTC already took Microsoft to court to block the merger, but that was before the U.S. agency's in-house judge in a trial set to start on Aug. 2. That administrative process doesn't preclude the parties from closing the deal. The contract between Microsoft and Activision required the deal to close by July 18, but the FTC's latest action seeks to stop that from happening. “Microsoft and Activision Blizzard have represented in the past that they cannot close their deal due to antitrust reviews of the transaction in other jurisdictions," the FTC said in a statement Monday. "But Microsoft and Activision have not provided assurances that they will maintain that position. In light of that, and public reporting that Microsoft and Activision Blizzard are considering closing their deal imminently, we have filed a request for a temporary restraining order to prevent them from closing while review continues.” Microsoft's other main obstacle is in the United Kingdom, where antitrust regulators have also taken action to block the acquisition. The all-cash deal announced in January 2022 has been scrutinized by regulators around the world over fears that it would give Microsoft and its Xbox console control of Activision's hit franchises and give it an unfair boost in the emerging business of cloud-based game subscriptions. It could be the priciest tech industry merger in history. Fierce opposition has been driven by rival Sony, which makes the PlayStation gaming system. Microsoft sought to counter the resistance by striking a deal with Nintendo to license Activision titles like Call of Duty for 10 years and offering the same to Sony if the deal went ahead. European regulators representing the 27-nation bloc approved the deal last month on condition that Microsoft make some promises meant to boost competition in the cloud-based gaming market. A number of other countries, including China, Japan, Brazil and South Korea, have also approved it. But the blockbuster deal has remained in jeopardy because of the surprise April decision by the U.K.’s Competition and Markets Authority and the ongoing case in the U.S. Microsoft in late May filed an appeal of the British regulator's decision and has also voiced strong public opposition directed at top government officials. U.S.-based consumer advocacy group Public Citizen, an opponent of the deal, welcomed the FTC's move Monday. “Although the agency has already used its authority to block the merger through administrative proceedings, Microsoft is pushing to culminate the purchase of Activision before the agency can finish its process," said a statement from Public Citizen's competition policy advocate Matt Kent. ""By filing in federal court to enjoin the transaction, the FTC is showing that it won’t back down in the face of Microsoft’s escalatory tactics.” Additional reporting by Associated Press
2023-06-14 02:15
Mexico's Banorte plans to hire up to 1,200 people to tap into nearshoring
By Marion Giraldo MEXICO CITY Mexican bank Banorte plans to hire between 1,000 and 1,200 more employees to
2023-09-28 09:15
Bain Capital In Advanced Talks to Buy Adani Shadow Bank, BS Says
Bain Capital is in advanced talks to buy the 90% stake billionaire Gautam Adani’s group holds in an
2023-07-23 13:51
Indonesia’s Population to Fall Behind Nigeria’s by 2045
Indonesia is set to lose its title as the world’s fourth-most populous nation by 2045 amid slowing birth
2023-05-17 09:26
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