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European Council President: The EU remains fully supportive of efforts to reach a fair agreement with the United States.July 12, Mathieu Savary, chief European strategist at BCA RESEARCH: Trumps strategy is to make outrageous demands, then let them fall through, and then once again try to win some last-minute concessions and then reach a trade deal. We remember a framework during Trumps first presidency, and thats whats happening now. It doesnt matter what is said now; what matters is where we will land. It is expected that the EU will eventually "have to accept a 10% tariff, but this is something the EU can actually deal with.The German Industry Association: The trade conflict between the EU and the US damages economic recovery and international trust. It calls on Germany, the EU and the US to seek a solution as soon as possible to avoid escalation.EU spokesperson: The United States notified the EU in advance of a letter regarding the imposition of a 30% tariff on EU goods from August 1.The Dutch Prime Minister said that the US announcement of a 30% tariff on goods imported from the European Union is worrying and is not the right direction for the future.

Microsoft Claims Its $69 Billion Activision Acquisition Will Benefit Gamers

Charlie Brooks

Dec 23, 2022 11:50

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Microsoft stated Thursday that its $69 billion offer to acquire "Call of Duty" developer Activision Blizzard (NASDAQ:ATVI) will benefit both gamers and gaming firms.


Microsoft (NASDAQ:MSFT) made the claim in a brief aimed at persuading a judge at the U.S. Federal Trade Commission to approve the acquisition, after FTC commissioners warned the merger would impede competition in the gaming sector in a complaint filed this month to prevent the agreement.


In a complaint filed on December 8, the FTC expressed worry that Activision's popular titles, such as "World of Warcraft" and "Diablo," could no longer be available on devices that compete with Microsoft's Xbox. A hearing before an administrative law judge has been scheduled for August 2023.


President of Microsoft Brad Smith stated in mid-December that the business has offered to sign a legally enforceable consent decree with the FTC to supply "Call of Duty" games to competitors such as Sony (NYSE:SONY) and others for a decade.


"A single game purchase by the third-place console maker cannot destabilize a highly competitive industry. This is especially true when the maker has made it obvious that the game will not be withheld "Microsoft stated in a filing on Thursday.


Smith stated in a statement released this week that he remained confident in the company's legal position, but remained "committed to finding solutions with regulators."


Bobby Kotick, the chief executive officer of Activision, said in a statement on Thursday that he expects the firms will succeed in their legal battle with the trade commission.


The Biden administration has adopted a more robust antitrust enforcement strategy. The U.S. Department of Justice recently blocked a $2.2 billion merger between the world's largest book publisher, Penguin Random House, and its smaller U.S. competitor, Simon & Schuster.


The Microsoft transaction is also under examination outside the United States, with the European Union stating that it will determine whether to allow or ban the deal by March 23, 2023.

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