
Support For Japan’s Kishida Falls Even After He Orders Tax Cut
Support for Japanese Prime Minister Fumio Kishida continued to slide in the first polls published after he announced
2023-10-30 09:19

UK firms most upbeat in 10 months despite economic headwinds - survey
LONDON British companies were the most upbeat about their trading prospects in 10 months in June and their
2023-07-10 05:21

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

South Korea Leader Seeks Breakthrough in Deterring Kim Jong Un
South Korean President Yoon Suk Yeol said the world would never accept North Korea as a nuclear weapons
2023-08-16 09:23

China Central Bank Meets With Private Firms, Pledges Funding
The People’s Bank of China met with lenders and private businesses on Wednesday, pledging to improve their access
2023-08-31 11:55

Ex-Singapore PM Goh’s Son Charged With False Trading, CNA Says
Goh Jin Hian, the son of former Singapore Prime Minister Goh Chok Tong, was among four people charged
2023-09-20 15:16

China imports of Russian oil highest since Ukraine invasion: data
Chinese imports of Russian oil last month hit their highest level since Moscow's February 2022 invasion of Ukraine, Beijing's...
2023-06-20 17:54

AT&T Falls to 29-Year Low Amid Concerns of Cleanup Costs
AT&T Inc. shares hit an almost three-decade low Friday amid growing concerns of the potentially high costs the
2023-07-15 04:16

Singapore Sees $77 Billion Digital Economy as Key to More Growth
Singapore’s digital economy has expanded to about $77 billion, or 17.3% of gross domestic product, and should continue
2023-10-06 17:17

Rouble soars past 96 vs dollar after Putin reintroduces currency controls
By Alexander Marrow The Russian rouble leapt more than 3% on Thursday to a more than two-week high
2023-10-12 16:27

Debt-Limit Deal Passes the House, Easing US Default Concerns
The House passed debt-limit legislation forged by President Joe Biden and Speaker Kevin McCarthy that would impose restraints
2023-06-01 17:48

U.S. prosecutors look at short selling in bank shares - source
By Chris Prentice NEW YORK Federal prosecutors in Washington are looking into short seller activity around the recent
2023-05-10 18:46
You Might Like...

Trump Takes Aim at DeSantis in Distance Duel at Iowa State Fair

Meta to contest EU antitrust charges at July 13 hearing

GIGABYTE to Introduce Leading-Edge AI Solutions and Computers at COMPUTEX 2023, Unveiling “Future of COMPUTING”

German antitrust body opens probe against Coca-Cola

CONAM Multifamily Partners Fund III Purchases Arise Craig Ranch in McKinney, Texas

DeSantis Vows a ‘Hard Power’ Approach Toward China in Republican Debate

Europe’s Markets Flash Warnings as Growth Woes Start to Dominate

Austria’s Socialists Pick New Party Chief After Divisive Battle