activision acquisition block. microsoft's $69 billion takeover of activision blizzard was vetoed. there is also top earnings. microsoft and alphabet beat expectations and meta is up next with its report. the bank extends its drop on reports of buyers lining up for new stock. from washington dc, i am kailey leinz with guy johnson in london. alix steel is on assignment. if you couldn't tell from the headlines, this is a day of single stock stories. paul: the macro --guy: the macro will come back stare -- very soon. the story is about tech. you have this activision blizzard story and the blowout numbers coming through from microsoft and these are incredible numbers these companies are posting. you need to compare and contrast the two stories. this comes to our question of the day. what is happening here? you have the activision blizzard deal being blocked but is that a good thing for some of these companies? these companies are taking out cash. maybe gaming is in the place to put it. -- is not the place to put it. >> what investors seem to report is ai. is that where tech investor sh

but let's flip it around do you think that activision needs it there are some people that say activisionactivision i'd buy it right here. of the gaming companies, i know i absolutely understand, take two, not doing as well electronic arts, not doing as well but if you listen to strauss from take two, he was saying second half could be good. i think that activision blizzard right now is good. i think you have a really terrific situation microsoft does not need it that was an unbelievable quarter. and i know first republic is such a downer that we have to talk about it endlessly, but microsoft is bigger than first republic >> we do, though, because microsoft is much bigger, but i think there's a concern about whether -- hate to use the "r" word, not recession, but run you have the stock now let's get first republic on the screen, off 12%, after it was down 49% just yesterday. we're at $7.09 right now and i think the question is, if you are a depositor at this bank, and you're watching this, does this change anything? or do you say, you know what, i'm protected, it's fine >> maybe if you're

activision is down 11%. still coming up, perspective on this question of the day, continuing on the topic it is tech too big to do a big deal? lack rock head of investment institute will be joining us next. this is bloomberg. >> microsoft standout where you have an unseasonably strong fourth-quarter, and having an impact on the business. it hasn't hit the application business and we raised our price target and we ultimately believe there is a tidal wave of ai activity that's about to hit, and there are very few ways that you can they this trend. microsoft is executing well, and now, they are leading the charge in ai. they didn't lead the charge and cloud. they caught the wave late. they are now way in front of this, and investors need to be affirmed this as well. >> that was an equities analyst at jefferies on bloomberg tv. let's get back to our question of the day. his tact to make to do big deals? joining us is john beau biden. he is a black rock of investor institute. another way of saying this is that bi

regulators in the uk blocking microsoft's purchase of activision blizzard.ares falling hard on the news. down about 9%. microsoft was already up on earnings, david. but i don't know, maybe investors see this as a positive as well, they won't have to spend $70 billion if this deal doesn't go through. >> i don't think they see it as a positive i think there was a positive view of microsoft's ability to grow with the acquisition of activision and it a p a cash deal it's not as if there's any transfer of microsoft stock involved here. it was $95 a share, remember and it's been a long time since it was announced and it may not be nearly as long a time as they have to abandon the transaction. they're not saying that. they're fully prepared to appeal the decision by the regulatory body in the uk, we've been focused on this for quite some time because it's an important decision why? because the appeals process here is so difficult. the competition appealed tribunal which they will go to and have to go through in the next four weeks. basically never says anybody who

you taking a look at activision as a standalone? >> i own it, sarah we shorted the calls on it at 90 bucks. if it dips below 70, we'll be buying aggressively. we really like the business. there's a reason microsoft was willing to pay 95 bucks for it it's a great business. microsoft's management is the best in the world right now. it's a great company. >> i wonder about the missed opportunity to get activision into ai video gaming if ai is going to permeate every technology, they would have had a big leg up under microsoft's roof, wouldn't they? >> yeah. ai has been part of gaming for a long time. they've been doing maps and world building for a long time being a part of microsoft, absolutely they'll have a leg up this is a technology that's been permeating games for a long time we never talked about it until chatgpt. it will benefit probably everybody and, you know, probably drive down costs, but the best creators will find the best use cases for it. you know, they would benefit activision has some of the best game developers on the

69 billion dollar deal to buy activision.ion coming out with its own numbers early. 368 active users. the end of the quarter with net cash $8.9 billion. net bookings 1.8 6 billion. from new york, san francisco, this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com ed: bloomberg technology live at the rsa conference in san francisco. cybersecurity is the broader theme, generative ai is the focus. let's bring in -- gen ai is the topic. you are looking at advancing quantitive computing. why is that a concern? >> we don't tend to prioritize things that are important until they become urgent. ai is a perfect example. we have been looking at ai for a very long time. we saw the ai winter and all of a sudden with chat gpt we have renewed interest. it is similar to what we are exper

jeff kilburg, appreciate it. >>> regulators in the uk blocking microsoft's purchase of activision activision'sr from the final word on this deal is that true we'll look at what's next. >>> don't miss cnbc's newest show weeknights here at 007: p.m. back after this. >> so good to have you here with us we're talking about ai, and it's all over the headlines why is it so important right now? >> this is an exciting time. when we think about conversational and generative ai, this is not about chatgbt helping kids with their homework we can literally go from text to code that transforms the speed at which we can help enterprise unlock value so it's going to change absolutely everything, and no one can afford to sit on the sidelines. >> is this a new way of business here to stay >> the technology is going to keep evolving very quickly but this is not a fad. we're working with our clients to help them challenge absolutely every aspect of the business, from sales to marketing, to e-commerce, to supply chain, to packaging everything has an opportunity to evolve with the value of ai. >> what is it that co

jon: what does a company like activision supposed to do?rocesses are very long and staying committed to, the language has to be appropriate for the moment. but there is the immediate reaction we see in the markets, people trying to figure out what happens next. jennifer: the companies have said they will appeal, that is a long slog with an unlikely successful outcome. it is difficult to overturn a cma decision. they also have a long process in the u.s. because they are about to go to litigation in august against the ftc over this deal. i am not sure the deal can survive that. if activision is looking to be bought, the need to look for a company that is not as strong and clout. microsoft strength and clout was what was one of the uk's biggest problems here. it is not that activision cannot get itself sold to some other company, it is going to have to be a company that has less power in that area. jon: really helpful context, jennifer rie breaking it down. we will continue to watch the microsoft activision story. coming up, the new legal figh

we are joined by the activision blizzard ceo, bobby kotick. good morning.by: good morning, thank you for taking the time to have me. ed: thank you for joining me. we will talk about earnings and video games which you and i share a passion for, but we will talk about microsoft's purchase of activision. in the united kingdom, there will be a judicial review process and it will look at whether the cma acted illegally or with procedural impropriety or irrationally. my question is, will you and microsoft extend the deadline on the purchase agreement beyond july so that process can take place? bobby: right now but we are focused on is preparing our po and as you know, the tribunal is going to focus on the characteristics of the report that you described. it clearly is an irrational conclusion and we have every expectation, as does microsoft, that we should prevail in an appeal with the tribunal. we are very fortunate, you saw our first quarter earnings. our employees continue to be very focused and engaged in delivering great games for our players around the worl

a £55 billion deal where microsoft wanted to take over activision , activision take over activision, play on any kind of equipment like a pc or a tablet and you play through to the cloud. so you sort of have your game working in the internet . and they were worried internet. and they were worried that microsoft was suddenly gain control of the cloud if they dare by activision blizzard because activision blizzard has so many incredible games, mainly things like call of duty and candy crush saga. but is it is it this candy crush saga. but is it is tt tnts tne— candy crush saga. but is it is it this the competition- 3 3 but is it is it this the competition and markets— it this the competition and markets authority's job to stop tnate— markets authority's job to stop tnate arguatty— markets authority's job to stop that? arguably, it's going to be ratstng— that? arguably, it's going to be raising bringing— that? arguably, it's going to be raising bringing a lot of money tnte— raising bringing a lot of money tnte tne— raising bringing a lot of money tnte tne ut— raising bringing a lot of m

a £55 billion deal where microsoft wanted to take over activision , activision take over activision,any kind of equipment like a pc or a tablet and you play through to the cloud. so you sort of have your game working in the internet . and they were worried internet. and they were worried that microsoft was suddenly gain control of the cloud if they dare by activision blizzard because activision blizzard has so many incredible games, mainly things like call of duty and candy crush saga. but is it is it this candy crush saga. but is it is tt tnts tne— candy crush saga. but is it is it this the competition- 3 3 but is it is it this the competition and markets— it this the competition and markets authority's job to stop tnate— markets authority's job to stop tnate arguatty— markets authority's job to stop that? arguably, it's going to be ratstng— that? arguably, it's going to be raising bringing— that? arguably, it's going to be raising bringing a lot of money tnte— raising bringing a lot of money tnte tne— raising bringing a lot of money tnte tne wt.— raising bringing a lot of money int

shares of activision blizzard down 11%.icrosoft was actually up 7% because of stronger-than-expected earnings, and that helped the nasdaq at the close. we saw the dow jones and s&p 500 drag down by shares of first republic bank, which lost a further 30% following tuesday's 50% slide. authorities and other banks are in talks to help stabilize the litter after it revealed customers had withdrawn $100 billion -- help stabilize the lender. major european indices closing lower. the european union has agreed on a deal to set binding targets to the carbonates the aviation sector by forcing airlines to use more sustainable biofuel. flights taking off from you airports will have to run with at least 2% sustainable fuel mix with kerosene starting in 20 25. that threshold will gradually be increased to 20% in just over a decade and 70% by 2050. the eu will also start assigning flights and eco-label corresponding to its carbon footprint. aviation accounts for just over 2.5% of global co2 emissions. this seems one of the most challengin

activision ceo will be on "squawk box" tomorrow. the etf. >> if you own the stock, what you have to do is value the stock based on the fundamentals of the stock and that's why the company was very quick to release their earnings you see the deal spread right now as wide as $17.50. a very low probability that the deal gets done microsoft will appeal this deal. most likely they will lose that. they're still in the summer, the european union and the federal trade commission have to weigh in on their opinion of this case this is a $3 billion breakup fee for microsoft as well in regards to this. i think it falls collectively back upon activision blizzard and what the fundamentals purely look like there. >> is microsoft better off without activision blizzard, kari what do you think? >> the market seems to think so. that's part of the reason it's up >> do you? >> to be in the game producing business, which is cyclical and has all of the creative content problems that being in the entertainment business, i think it's tough and i would rathe

what does activision do? is that the prettiest one at the party, does everybody want to acquire activision? >> no. it will be an expensive acquisition at $40 billion. it was going to be microsoft's a largest ever acquisition. there are few companies that can buy it. the only companies that are companies like microsoft and regulators don't want companies like microsoft to get any bigger. which again, i think is why activision blizzard is down. who else is going to buy them? maria: before we go, we have to look at first republic stock. first republic lost 100 billion in deposits. the stock is falling out of bed. this morning we're looking at further declines even though it started off with a bounce this morning but it's lost, what, 50% of its value. look at where the stock is now. it's down this morning, 50%. on first republic glang down 50% from the day before and 50% from the month before. i mean, -- maria: premarket, down 14.8%. the question here is, does this tell me that the banking crisis is far from over

we have to talk about this microsoft activision deal. the cma blocking it, essentially saying this could harm competition in the cloud specifically. what does microsoft do now, what are the odds they could appeal this decision? >> not a great track record for companies appealing decisions from the cma. it is looking bleak for microsoft, they have made concessions about the availability of activision games on cloud services. it has been blocked on the basis that it would give microsoft an advantage in cloud gaming. this is a very nasa and spate -- nascent space. you get a sense that they looked at earlier decisions to allow deals, you look at facebook and instagram, which they let go through. those were very nascent markets, they are getting in early to stop this activision blizzard deal. dani: that is alex webb from bloomberg quicktake. on to u.s. politics, speaker mccarthy's debt limit bill has passed the u.s. house, in a politically important victory that intensifies the standoff with the height house -- white house over avoiding catas

microsoft and activision hit out at the decision and said they would appeal. in the us the house of mouse wading into legal waters — disney is suing the governor of florida ron de santis. the company claims mr de santis and his officials violated its constitutional rights. the media giant says the governor has waged a campaign of retaliation against disney after it criticised a law promoted by the florida state government.

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loved by millions, made by activision blizzard, wanted by microsoft. to encourage more players to choose its devices and services in the years to come. this deal, though, is on life support, all because it has been judged by the cma to reduce innovation in the fast developing cloud gaming market. the theory is that cloud gaming will eventually become the kind of de facto distribution, you know, way that games are distributed to the end—user, streamed to the end user like we do when we watch netflix videos. the news has not gone down well, with activision saying in a statement that the uk was clearly closed for business. microsoft added that the cma had a flawed understanding of the market. they will now appeal. microsoft's xbox console may be lagging behind sony playstation in terms of sales but the company does have a big presence in cloud gaming. we didn't want a situation where the current dominant most powerful platform in cloud gaming purchased an important input to its competitors and therefore undermined that growth. the deal needs approval in t

activision shares were down yesterday because was that the arbs getting washed out?the market perception or for investors who are involved in activision and in their view there is really no bad decision here for kotick yesterday there were some arbs that had to sell because there was a lower probability of success. back at the end of march, without getting into too much detail here, the cma made a decision, they were saying there was harm on the console market, cloud market, there is no longer harm in the console market and there was a chase by investors who thought, oh, that improves the likelihood of success. so that's what drove the stock higher and that needed to come out of the stock after the cma blocked the deal >> aaron, thanks appreciate it. >> thank you good luck on the glasses >> yeah, yeah. we got to decide we got to talk it over >> reading glasses so -- i don't wear those on tv that's more of a distance situation. >> won't help with the prompter anyway >> thanks. >>> the next hour, first on cnbc it interview with activision blizzard ceo bobby kotick. >>

did the british competition authority do microsoft and maybe activision a favor here?ay have there's no systematic study of this, but there are so many other transactions we can point to and think of where the parties after the fact, once the deal has been blocked, expressed a sigh of relief thinking that this saved us from making improv dent choice. we can think of a new of companies that probably wish the government had succeeded in its efforts to block the transactions >> i used to work for one, aol, time warner. >> can you imagine how often time warner has perhaps looked back and thought wouldn't it have been great if the ftc had just blocked aol time warner >> all right, bill thank you so much for your analysis we appreciate it thanks again >>> further ahead on the broadcast, first republic trading at all-time lows all the way back to its ipo. the regional bank searching for a rescue plan. we'll talk to a former fdic official to weigh in on how this case should be resolved and what it means for the rest of the banking system >>> plus, what about stocks that are hi

ed: our interview with the ceo of activision lizard as u.k. halts the deal. caroline: we speak with keith rabois to discuss investment opportunities outside of silicon valley. once again, second straight day of gains on the nasdaq, leading the charge. it seems to be anxiety leaving us when it comes to tech earnings. still, there is worry about the u.s. economy, the growth slowing in the first quarter more than expected and the inflation risk still evident as consumers are spending. up 1.7% on the nasdaq, two year yield up by four basis points. i want to shine a light that asia did relatively well, china moving a little higher. european stocks on the upside, bouncing back after a big selloff yesterday. look at what other risk acid is proving volatile. check out the moves on bitcoin the last couple of days, above 30,000 then dove back down, everyone scratching their heads as to why. the quiddity seems to be the key issue of the day. act up 5%, almost 30,000 once again. go micro for a moment. ed: we had a lot of headlines in the world of technology, dropbox off

. >>> speaking on f tech, it's a decision day for what's holding up microsoft's deal for activision deal. shares of republic closed down 50% yesterday. there are multiple reports that all options are on the table to ensure its future. then later in the show, a big win for a big day in china that's putting oracle back in omaha. it's wednesday, april 26th, 2023 and you're watching "worldwide exchange" right here on cnbc >>> good morning and welcome to "worldwide exchange. i'm frank holland. let's kick off the hour with a check on u.s. stock futures after a rough session yesterday. the major averages with their worst day in more than a month this morning it's all about tech let's take a look at the nasdaq. up more than a half a percent. dow jones also in the green. leadings the charge, shares of alphabet higher after authorizing a new $70 billion share buyback program. you see shares are up half a percent this morning big spike in that stock yesterday after earnings we're also looking at microsoft also topping estimates a lot of buzz about ai and how it will shape the future of the software

duty would be microsoft biggest ever acquisition antitrust watchdog fears, microsoft would keep activision games off competing cloud gaming platforms. u. s. air condition, a giant carrier is making a big investment in green heating, it's buying the heat. pump division of germany is this man for $12000000000.00. a pumps is seen as a key way of making heating more climate friendly. they take over his res, concerns in germany, though about foreign control of an important technology. ukraine's economy is expected to grow 1.6 percent this year, according to the vienna institute for international economic studies. last year g, p tumbled 29 point one percent is millions, flat the country and production was halted and the war and improving business environment energy supply, the grain deal and 8 are hoping the mccraney and economy and the european union has agreed a deal to set binding targets for airlines in the block to increase their use of sustainable aviation fuel. brussels aims to increase demand and supply for green fuels that could help reduce the carbon footprint of the sector, which is c

loved by millions, made by activision blizzard, wanted by microsoft.e. this deal, though, is on life support, all because it has beenjudged by the cma to reduce innovation in the fast developing cloud gaming market. the theory is that cloud gaming will eventually become the kind of de facto distribution, you know, way that games are distributed to the end—user, streamed to the end user like we do when we watch netflix videos. the news has not gone down well, with activision saying in a statement that the uk was clearly closed for business. microsoft added that the cma had a flawed understanding of the market. they will now appeal. microsoft's xbox console may be lagging behind sony playstation in terms of sales but the company does have a big presence in cloud gaming. we didn't want a situation where the current dominant most powerful platform in cloud gaming purchased an important input to its competitors and therefore undermined that growth. the deal needs approval in the uk, eu and us to go ahead, so today's decision, the first from those jurisdicti

mike santoli meantime, moments ago, activision releasing its earnings early, as you know. the uk blocking that deal with microsoft. steve kovach's watching it steve? >> this is a surprise. they were supposed to release the earnings tomorrow after the bell, but i'm told by a spokesperson activision released it now, after the cme decision rejecting the deal, which is likely going to kill the deal overall. let me run over the numbers real quick, it is a beat on the top and bottom lines as you can see, not doing much to alleviate the stock here. it's on epps, it's 60 cents adjusted coming in versus the 52 cents estimated by the street. revenue is also a beat at $1.86 billion versus $1.79 billion estimated. and then just some really strong commentary here against the decision, activision release calling the cme decision disproportionately, irrational, and inconsistent with the evidence also saying they're going to back microsoft as they go through the appeals process with the cma, but that is likely not to play out in microsoft's favor and activision is looking more and more li

take a look at stocks activision blizzard down better than 11% microsoft shares up almost 8%, meanwhile, this, whose speaker kevin mccarthy efforting a vote on gop debt ceiling bill as soon as today or tomorrow texas congressman joined me earlier, tell me he was optimistic about this bill, watch. >> right now i support the bill, i think that i think we're going to get there this is really important we've got to get something on the table to send over to senate, side of the -- of congress so we can begin to negotiate with the president as well who was refused to come to the table and negotiate. maria: congresswoman kat cammack joined me a moment ago unwilling to tell us that she is a definite yes, the congressional budget office estimating the cut deficit 4.8 billion dollars next 10 years cbo scored this last night president biden this marining a veto calling it trickle-down economics in maga clothing, o oklahoma senator member senate homeland security finance intelligence ethics committees james lankford with me thanks so much for being here let's say hypothetically passes in the house

activision blizzard, they own call of duty, which is one of the big headline games in the gaming industryintendo, but they wouldn't be able to access those. now, in responding to this inquiry ljy now, in responding to this inquiry by the cma, microsoft said that they would allow the other platforms to continue to access those titles, they said they had put in place different processes which would keep the competition going, but the competition and markets authority is saying that is not the case. for now, alasdair _ saying that is not the case. for now, alasdair keane, thank you, it is good to get your thoughts. 0ur reporter there. is good to get your thoughts. 0ur reporterthere. let's is good to get your thoughts. 0ur reporter there. let's take you to the us. in the us, trading in shares of the struggling first republic bank have been temporarily suspended. the bank's stock fell by 39% percent earlier today to a record low, prompting the market authorities to intervene, citing volatility. this comes after news that hundreds of billions of dollars had been pulled from the firmament last m

uk moving to block the major deal for activision-blizzard >> a quick back story.roposed acquisition the initial investigation found that the deal would lessen competition in the game console and cloud gaming services in the uk that was the an assessment concerns that microsoft would take the "call of duty" titles and make them exclusive. it would not reduce competition in the console market because it is not viable for microsoft to keep all the games for themselves the outstanding piece was cloud gaming this is the area where it is netflix for gaming stream games you remove the need for consoles and hardware you can potentially use your phone or laptop or controller linked to the tv to play microsoft is betting the gaming future on this cloud gaming area what the cma is saying is it is still early days in cloud gaming if we let the deal go through, microsoft will have a substantial foothold in cloud gaming before the market takes off. that could hamper innovation that is why they blocked the deal microsoft will appeal. what does this mean for the others eu and ftc

activism -- activision blizzard is down by 12%. some of the shine and polish off of the story yesterday with microsoft. the stock was positive by close to 8% now it is positive by 7%. lisa: this is where regulation and the potential of policy becomes major risk. it is not antitrust it is rejection of the businesses overseas, in china, elsewhere, to this point, it is how much this can drive everything. with a potential risk. tom: microsoft up 8% now at 7%. we will watch it closely but i just did not want to go forward here. infinite warfare. when call of duty goes live -- like 10 years ago. lisa: have you ever played it? tom: call of duty? well -- you know, right here on tv it is an ugly site. [laughter] jonathan: let me bring the real value if i can. macro soft plans to appeal to block the activision deal. it is down hard. and the s&p 500 futures are fading fast. we are about unchanged now. first republic in focus. down almost 15%. negative. tom: first republic under seven dollars. jonathan: now trading in the sixes. lori heinel jo

anti-trust regulator has blocked microsoft's purchase of activision blizzard tell us about the move and all a breach of competition as it was, the u.k.'s competition regulator is really saying in this regard, saying the purchase by microsoft buying activision blizzard would be competition microsoft is kind of making a bet on what is really being called there on line gaming, so gaming consoles really moving onto kind of a streaming platform if you want to call it that just like you would with netflix where you would stream an episode of the network you would pretty much do the same with gaming it's called cloud gaming microsoft is betting on, a $69 billion deal they were trying to push forward doesn't look like it's going to happen anymore, but microsoft has said they'll appeal the decision because they feel doesn't upend competition and is the right move that could happen shares of activision slumping 8% in trade yesterday microsoft managed to gain 7%, but that was mainly because of its earnings report which it had put out on tuesday so maybe we'll see the effects of that sooner rathert

activision shares tumbled in the u.s. as that merger overshadowed it strong earnings.ping estimates. coming up, metta shares search. david kirkpatrick shares his outlook for the tech sector next. this is bloomberg. this (announcer)g. enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight loss easy. release works with your body, not against it, so you can put dieting behind you and go live your life. head to golo.com now to join the over 2 million people who have found the right way to lose weight and get healthier with golo. >> let's take a look at how metta is doing after hours. pretty well. we did see advertising revenue rising to $28.1 billion. up 4.1% year-over-year. that did beat estimates. revenue also bidding estimates. the markets rewarding metta for a strong set of numbers there. let's get in with david. the future looks pretty encouraging. what were your key

microsoft is looking to buy activision blizzard, which king is a part of, and microsoft says it wants we are excited about the merger. i mean, microsoft has said, like you said, that they are interested in expanding more in mobile, and at king, that's where our home is. and, like, we have 233 million players in oh, monthly players in 04 in mobile. so it would be interesting to partner with them and see what we can do together. where does artificial intelligence fit with king? it's something that we looked at for years, and the acquisition of the swedish company peltarion is strengthening that with talent and experience and some of the technology that they also can bring. and they're now integrated with our team, and we're looking to build, like, an ai hub, like a centre of excellence inside king. do you think a! will be creating games for us? not in the near—term, forsure, but, like, it is a very useful tool. there's a lot of lay—offs going on, aren't there, in big tech in the us? are you finding more people are knocking on the door? we're seeing a change, and of course we notice a bi

loved by millions, made by activision blizzard, wanted by microsoft.oose its devices and services in the years to come. this deal, though, is on life support, all because it has been judged by the cma to reduce innovation in the fast developing cloud gaming market. the theory is that cloud gaming will eventually become the kind of de facto distribution, you know, way that games are distributed to the end—user, streamed to the end user like we do when we watch netflix videos. the news has not gone down well, with activision saying in a statement that the uk was clearly closed for business. microsoft added that the cma had a flawed understanding of the market. they will now appeal. microsoft's xbox console may be lagging behind sony playstation in terms of sales but the company does have a big presence in cloud gaming. we didn't want a situation where the current dominant most powerful platform in cloud gaming purchased an important input to its competitors and therefore undermined that growth. the deal needs approval in the uk, eu and us to go ahead, so

of activision was a guest on "squawk box." of course, in his view, and many others, by the way, the wrongness of that decision, essentially, how misguided it is, how it actually is going to engender less competition as opposed to more, and also, sounding a more positive note, perhaps, than many others believe in terms of their ability get this decision reversed on appeal but i thought perhaps more -- his most interesting comments were very pointed in terms of his view of lena khan at the ftc and the overall antitrust regime that he sees between the uk and the u.s. take a listen. >> i was surprised to learn that lena khan and the head of the cma had a meeting a week and a half ago in washington legally, you're not supposed to be discussing active litigation. i don't know that they did, but you know, i think that that's what you're seeing now is that the cma is being used as a tool by the ftc to be able to create these kinds of outcomes, and this isn't the way that they're supposed to be operating >> so, pretty interesting comme

loved by millions, made by activision blizzard, wanted by microsoft.rage more players to choose its devices and services in the years to come. this deal, though, is on life support, all because it has been judged by the cma to reduce innovation in the fast developing cloud gaming market. the theory is that cloud gaming will eventually become the kind of de facto distribution, you know, way that games are distributed to the end—user, streamed to the end user like we do when we watch netflix videos. the news has not gone down well, with activision saying in a statement that the uk was clearly closed for business. microsoft added that the cma had a flawed understanding of the market. they will now appeal. microsoft's xbox console may be lagging behind sony playstation in terms of sales but the company does have a big presence in cloud gaming. we didn't want a situation where the current dominant most powerful platform in cloud gaming purchased an important input to its competitors and therefore undermined that growth. the deal needs approval in the uk, eu

microsoft and activision say they'll appeal the decision.tatives have voted to bar transgender lawmaker zooey zephyr for the rest of the legislative session. the measure comes after the democrat said that republican lawmakers would have "blood on their hands", if they passed a ban on gender—affirming medical care for minors. during a speech before the vote, zephyr said she is taking a stand for her community, and for "democracy itself". zephyr willjoin me for an interview in the next hour, to talk the vote, and what comes next for her. around the world and across the uk, this is bbc news. wokka micro a lot of people say to me, oh, i didn't know you painted? i mean, many years it has been going on like this, but it's great. it is another string to my bow that i have always done since i was little. i have heard that you have painted or drawn some of the members of the royal family. painted or drawn some of the members of the royalfamily. is that true? members of the royal family. is that true? ~ that true? well, i did the duke. prince _ that t

microsoft's $68 billion deal to buy activision has been blocked in the uk.ould have owned the call of duty franchise but the group of people who make sure the gaming market is fair said the move would of gamers less choice. both companies say they will appeal. i will leave you with ten seconds of inspiration, because ali goldstein, who has down syndrome, has been revealed as a cover star for vogue magazine in the uk. the new issue focuses on disabled people from the world of fashion, sport and the arts. she told the bbc she wants to be a role model to others in the industry. ali, you totally are. see you later. hello, i'm qasa alom, from the bbc sport centre. coming up on the programme: manchester city overwhelm premier league leaders arsenal to take the charge in the title race. inter milan beatjuventus to make the final of the coppa italia. and a huge scalp taken in the world snooker championship — seven time winner ronnie 0'sullivan is out.

was it a fatal blow, we will ask the ceo of activision, that is at 4:00 p.m. u.k. time.oncerns about regional banks, we bring you the latest and next. this is bloomberg. ♪ >> in the last couple weeks of march, our view is perhaps 1%, of that 4% we saw 1% in that period. interestingly, once we were into april, like a light switch, the concerns around the banking industry went away and we have seen deposits stabilize and grow over the course of april. i expect we will be back over $600 billion by the end of the month and confidence has come back to the sector. tom: deutsche bank's cfo speaking to one is cranny, saying deposit growth is expected to continue. first republic's stock was halted 16 times during wednesday's trade as its price continues to lurch lower. u.s. regulators are limiting the bank's access to borrowing from the fed. valerie, is there a rescue plan for first republic? >> we are waiting for a buyer to appear, the lower the stock price goes, the more likely it is someone will come forward to buy the assets of first republic. they might be hesitant because t

ukraine, british regulators is blocked. microsoft 6, a $9000000000.00 deal to buy video game maker activision blizzard. the competition and markets authority says the acquisition would of stifled competition in the cloud gaming market. they all cash deal was set to give microsoft control of popular game franchises by call of duty and county crush. and authorities in panama had been forced to reduce shipping access through the panama canal because of an historic drought. about 6 percent of global shipping passes through the canal. so those are the headlines. news continues here now to 0 after witness staging vents. what's left now. there is no channel that covers world views like we do. the scale of this camp is like nothing you've ever seen access to health care. what we want to know is how these things affect people. we revisit places state, even when they're no international headlines. al jazeera, really invest in that. and that's a privilege. as a journalist, ah, with a yeah, i get a miles when it goes, this will be a bus in the end of which of the spencer fiddle in november, squint, and j

next, activision blizzard's ceo will join us. looking forward to this. bloomberg. ♪ welcome to a new era of flight. guy: it is thursday, the 27th of april. we are nearly done with april. are going to sell in may? some selling talking place today. -- taking place today. the corporate story is where the real action is right now and we are going to dig into some of those corporate stories. the countdown to the close starts right now. ♪ >> the countdown is on in europe. this is bloomberg markets: european close with guy johnson and alix steel. ♪ guy: the index fields are relevant.

in the uk government plans to block microsoft's six in a billion—dollar plan to buy activision blizzardand foreign nationals are trying to get out of the country during a

regulators have blocked microsoft's $60 million -- $69 billion purchase of activision.ld bolster microsoft's edge over its rivals in club giving and threaten the sector. at the companies plan to appeal the decision estate try to salvage of the biggest ever deal in gaming. activision shares tumbled in the u.s. as its merger with microsoft overshadowed strong earnings. the company says first quarter bookings rose 26% to $1.86 billion, topping estimates. earnings grew to $.60 a share topping projections of $.53. a former boj deputy governor says he will be surprised if the central bank changes yield curve control under the new chief ueda. here is the outlook next. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network, with no line activation fees or term contracts... saving you up to 75% a year. and it's only available to comcast busines