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Futures News, December 31st: Asian diesel supply is ample while demand is weak, suggesting further downside potential for Singapore diesel prices in the short term. Domestic diesel demand is entering a seasonal decline, with a predominantly bearish sentiment. While domestic diesel prices are expected to fall further in the short term, high procurement costs will provide support, potentially limiting the decline compared to Singapore prices. Therefore, short-term diesel export arbitrage will likely remain low or even inverted.December 31st - In recent years, the central government has introduced numerous policies to reduce or adjust real estate taxes, covering three major taxes: deed tax, personal income tax, and value-added tax. According to calculations by the Shanghai E-House Real Estate Research Institute, the implementation of these tax reduction policies could reduce housing transactions nationwide by approximately 100 billion yuan annually. From the perspective of homebuyers and sellers, these tax reductions are not merely symbolic discounts of a few thousand yuan for ordinary families; they represent substantial cash relief ranging from 100,000 to 500,000 yuan. For homebuyers in first-tier cities looking to upgrade their homes, the tax reduction could even cover two to three years worth of living expenses.On December 31, the Shenzhen Branch of the Peoples Bank of China disclosed an administrative penalty notice, stating that Shenzhen Rural Commercial Bank was warned and fined for violating account management regulations and financial statistics regulations. In response, a representative of Shenzhen Rural Commercial Bank told the Securities Times that the administrative penalty notice was a result of the Shenzhen Branch of the Peoples Bank of Chinas handling of issues discovered during an inspection prior to November 2022. The bank took this matter very seriously, earnestly implemented all regulatory requirements, and optimized relevant processes and systems in 2023, completing the rectification. The bank has learned a profound lesson and will continue to strengthen internal control and compliance, regularly review processes and systems, adhere to the principles of compliant operation and prudent development, effectively prevent risks, and continuously improve its operational management level and service quality.According to the latest shareholding structure, the National Commercial Bank of the UAE has sufficient room for foreign ownership in the bank, allowing it to hold at least 51% of the shares.On December 31, the State Financial Regulatory Commission (SFC) revised the "Guidelines for Risk Management of Commercial Bank Merger and Acquisition Loans," resulting in the "Measures for the Management of Commercial Bank Merger and Acquisition Loans." An official from the relevant department of the SFC answered reporters questions on related issues. The official stated that merger and acquisition transactions are large-scale and time-sensitive, placing significant financial pressure on acquiring entities. To better meet the financing needs of merger and acquisition transactions, the "Measures," while introducing equity participation-type merger and acquisition loans, raise the upper limit of the proportion of controlling merger and acquisition loans in the transaction price from 60% to 70%, and extend the term from seven years to ten years, reasonably optimizing the conditions for merger and acquisition loans and providing financing convenience for merger and acquisition transactions.

Microsoft And Nvidia Reach A Deal to Satisfy Activision Acquisition Regulators

Skylar Williams

Feb 22, 2023 14:20

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Microsoft Corp has reached a 10-year agreement to bring "Call of Duty" and other Activision titles to Nvidia (NASDAQ:NVDA) Corp's gaming platform if the Xbox manufacturer is permitted to complete its highly contentious $69 billion acquisition of Activision.


Competitors such as Sony (NYSE:SONY) and regulators have spoken out strongly against the potential Microsoft-Activision merger. Regulators throughout the world have expressed skepticism about Microsoft's (NASDAQ:MSFT) purchase, despite the move's potential to assuage concerns by expanding customers' access to Microsoft-controlled games.


The UK stated earlier this month that the agreement might be detrimental to gamers by diminishing the competitiveness between Xbox and PlayStation, leading to higher costs, less options, and less innovation for millions of users, as well as restricting competition in cloud gaming.


Microsoft President Brad Smith stated at a press conference on Tuesday that he is now more hopeful about the completion of the Activision purchase following the Nvidia pact and a similar agreement with Nintendo Co Ltd. (TYO:7974).


Phil Eisler, vice president and general manager of Nvidia's GeForce Now segment, stated that titles such as "Call of Duty" will not be accessible on Nvidia's service unless Microsoft acquires Activision, whereas Microsoft-owned titles such as "Minecraft" are immediately covered under the 10-year license agreement.


"We were at first a little apprehensive," Eisler remarked of the Microsoft-Activision partnership. "Next, we reached out to Microsoft, who was eager to enable cloud gaming and collaborate with us on a 10-year licensing arrangement. Hence, they gradually made us more used to it over time."


Eisler stated that Nvidia does not pay Microsoft for access to the titles, which is consistent with the company's relationship with other gaming businesses, such as "Fortnite" developer Epic Games. Instead, Nvidia will charge its 25 million consumers for access to its cloud gaming platform and Microsoft for its games.


Microsoft sank 2%, Nvidia declined 3.4%, and Activision slid 0.7% in a Tuesday afternoon market that was generally weaker.


Nvidia announced that it now supports the Xbox manufacturer's quest to acquire Activision, although the transaction may still be difficult to sell to authorities. Earlier this month, European regulators issued a warning to Microsoft on the merger, while the U.S. Federal Trade Commission has urged a judge to prohibit it. The British competition watchdog has suggested that Microsoft may be required to sell "Call of Duty."


Smith expressed his hope that Sony Group Corp might contemplate a similar partnership with Nvidia.


Sony has been at the forefront of resistance to the Microsoft-Activision agreement, declaring last year that it was "terrible for competition, bad for the gaming industry, and awful for gamers themselves."


According to media reports, other corporations, including Alphabet (NASDAQ:GOOGL) Inc's Google, have voiced concerns to the FTC over the transaction.


Microsoft has committed to maintaining "Call of Duty" on the PlayStation. The popularity of the first-person shooter franchise has not waned nearly two decades after its inception, with the most recent iteration selling $1 billion in its first ten days of release in October.


The U.S. tech behemoth has stated that the partnership goes beyond "Call of Duty." It has stated that acquiring the developer of "Overwatch" and "Candy Crush" will accelerate its expansion in mobile, Desktop, and cloud gaming, as well as consoles, allowing it to compete with Tencent and Sony.

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