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On January 14th, Brian Martin, Head of G3 Economy Research at ANZ Bank, stated that the Federal Reserve may keep interest rates unchanged in January, but the view that the rate-cutting cycle is on a long-term pause lacks a reasonable basis. He believes the Fed should resume rate cuts soon, with the committee likely to lower the federal funds target rate by 25 basis points in March and another 25 basis points in June, bringing the target rate down to 3.00%-3.25% by mid-year. Martin pointed out that as the impact of previous tariffs on price increases fades, wage growth slows, and housing inflation cools, US inflation will gradually moderate by 2026.A Bank of Korea official stated that the USD/KRW exchange rate above 1400 is inconsistent with economic fundamentals.On January 14th, it was reported that seven departments, including the China Meteorological Administration, jointly issued the "Guiding Opinions on Strengthening Collaborative Development and Promoting High-Quality Development of Health and Wellness Meteorological Services." The "Guiding Opinions" propose that by 2027, a nationwide collaborative and vertically integrated health and wellness meteorological technology innovation and service framework will be basically established; by 2030, a relatively complete health and wellness meteorological technology innovation and service business system will be formed, significantly improving the efficiency of collaborative development across the entire health and wellness chain and multiple fields. The "Guiding Opinions" also propose strengthening meteorological services for population health, providing refined services to different groups. Various departments will strengthen the risk prevention and control product system, providing refined risk warning services to the public, medical institutions, and elderly care institutions based on region, season, and population; collaboratively promote the prevention and control of allergenic pollen and other pollen allergens, jointly formulate standards and specifications, and coordinate observation equipment; and improve meteorological services for elderly health and wellness.On January 14th, futures market news reported that international crude oil prices rose for the fourth consecutive trading day, with Brent crude increasing by a cumulative $5.51 per barrel. This led to a positive turn in the crude oil price change rate during this pricing cycle, providing policy support for refined oil market prices. Recently, domestic gasoline and diesel prices have fallen to relatively low levels, with crack spreads at a low level and limited price differences between truck and vessel sales units. Driven by profit motives, sales units may attempt to push prices up. However, considering the current lack of substantial growth in gasoline and diesel demand, the sustainability of price increases is expected to be limited.Indonesian Deputy Minister of Energy: The government has decided to maintain the biodiesel program at the B40 level this year.

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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