Microsoft's Activision Deal Voted Down By FTC, SEC Guides Companies To Disclose Cryptocurrency Risks, Twitter Begins Reinstating Suspended Accounts: Top Stories Friday, Dec. 09

Author: Vandana Singh | December 09, 2022 09:19am

Benzinga

Microsoft's $69B Activision Deal Voted Down By FTC — But Video Game Firm's CEO Confident 'Deal Will Close'

• The U.S. Federal Trade Commission is seeking to block Microsoft Corporation's (NASDAQ:MSFT) $69 billion acquisition of Activision Blizzard, Inc (NASDAQ:ATVI).
• FTC alleged that the deal — Microsoft's largest ever and the largest in the video gaming industry — would enable the Satya Nadella-led company to "suppress competitors to its Xbox gaming consoles and its rapidly growing subscription content and cloud-gaming business."

SEC Warns Publicly Listed Companies To Disclose FTX-Led Crypto Damage To Investors

• The U.S. Securities Exchange Commission is cautioning publicly traded firms that if they have been affected by the recent FTX-led (FTT/USD) disruptions in the industry, they need to inform their investors.
• The Division of Corporation Finance informed U.S. public companies on Thursday that there has been a considerable disruption in the cryptocurrency asset market due to "recent bankruptcies and financial distress among crypto asset market participants."

Workers At General Motors-LG Energy Ohio Battery Plant Vote Favoring Unionization

• Workers at an Ohio battery plant co-owned by General Motors Co (NYSE:GM) voted 710-to-16 in favor of joining the United Auto Workers (UAW).
• The Ultium Cells LLC plant is a joint venture between GM and LG Energy Solution Ltd that started operations in August and employs around 900 people.

VR Headset Difficult To Wear For Longer Periods? Apple's New Invention Might Resolve The Problem

• Apple Inc's (NASDAQ:AAPL) new VR headset will bring an innovative Headset Cooling System exclusively designed to make wearing the devices comfortable for longer durations.
• The U.S. Patent & Trademark Office published a new patent application from Apple titled "Noise Mitigation for Head-Mounted Device." The design is said to provide users with a quiet cooling system to make it comfortable while wearing it over extended periods.

Japanese Billionaire's Moon Flight On Elon Musk's SpaceX Will Take Off With K-Pop Star TOP, DJ Steve Aoki, Youtuber Tim Dodd

• Japanese billionaire Yusaku Maezawa, who earlier said he would make a "big announcement" on Dec. 9, revealed that K-pop star TOP and DJ Steve Aoki would be among the eight crew members that he plans to take on a trip around the Moon on one of Elon Musk's SpaceX's rocket.
• Maezawa made the announcement on Twitter and a website for what he dubbed the 'Dear Moon' Project after he bought every seat on SpaceX's maiden lunar voyage.

Twitter Begins Reinstating Suspended Accounts: Elon Musk Says Platform 'Won't Be Perfect In The Future But…'

• Elon Musk said Twitter would get "much better" even as a "general amnesty" for suspended accounts began.
• Musk said the platform would only improve while replying to a user who thanked him for restoring the suspended account.
• It was earlier reported that Musk's '" general amnesty" could bring back about 62,000 suspended Twitter accounts.

Reuters

United Airlines, Boeing Poised To Ink Significant Order Agreement For 787s

• United Airlines Holdings Inc (NASDAQ:UAL) plans to order Boeing Co's (NYSE:BA) 787 Dreamliner next week, although the number of 787s United may order is unclear.
• Boeing resumed 787 deliveries in late August. The program is producing at a low rate with an expected gradual return to five per month over time.
• United had 64 Dreamliners at the end of September and will have 68 by the end of 2022.

Volkswagen Stays Decision On Gigafactory In Eastern Europe Beyond 2022

• Volkswagen AG (OTC:VWAGY) said it is deferring its location selection for the eastern Europe gigafactory for electric car batteries beyond 2022.
• The auto major took the decision after considering the volatile economic environment. The Czech Republic was considered for the plant, along with Hungary, Poland, and Slovakia.

Wall Street Journal

Here's How Apple's Crucial Partner Influenced China's Relaxation Of Covid Policies

• Leading Apple Inc (NASDAQ:AAPL) iPhone assembler Hon Hai Precision Industry Co Ltd (OTC:HNHPF), operating as Foxconn, was instrumental in persuading China to ease its Covid-19 policies.
• Foxconn founder Terry Gou's letter to Chinese leaders warned against its strict Covid controls costing China's leadership in global supply chains.

Bloomberg

Mercedes-Benz Plans EV Manufacturing In Thailand

• Mercedes Benz Group ADR (OTC:MBGYY) has reportedly agreed with the Thailand government to import its battery-powered cars.
• The move is part of Thailand's plan to boost its image as a green auto hub.
• Mercedes, in turn, will receive benefits like lower import duties and excise taxes for each fully electric car imported by its Thailand unit through 2023.

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