Daily News Portal

Europe stocks higher; Ubisoft rises 6% on restructured Microsoft-Activision deal


22 Mins Ago

Ubisoft shares climb as company looped in to Microsoft’s new Activision bid

French gaming firm Ubisoft Entertainment was 6.6% higher at 8:32 a.m. BST, after Microsoft unexpectedly submitted to U.K. regulators a new deal for the takeover off Activision Blizzard.

Under the restructured deal, Microsoft will not acquire cloud rights for existing Activision PC and console games, or for new games released by Activision during the next 15 years. It will instead divest the rights to Ubisoft prior to any acquisition.

Microsoft’s initial bid to buy the Call of Duty gaming juggernaut was rejected by U.K. authorities. A decision on the new deal is due Oct. 18.

Read the full story here.

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Ubisoft share price.

— Jenni Reid, Arjun Kharpal

57 Mins Ago

Australia gas strike talks: Discussions with workforce have been constructive, says Woodside Energy

Meg O’Neill, CEO of Woodside Energy, discusses Australian unions’ plan to strike at gas platforms, and says the company is optimistic about being able to avoid any significant industrial action, adding “but again, at the end of the day that’ll be the unions’ call if they want to use some of those levers that are available to them.”

An Hour Ago

Europe stocks: Here are the opening calls

European stock markets are set to open higher Tuesday, according to IG data.

The FTSE 100 is seen 19.5 points higher at 7,278, Germany’s DAX 86.6 points higher at 15,683, and France’s CAC 40 39 points higher at 7,236.

6 Hours Ago

SoftBank shares climb after Arm files for listing

Shares of SoftBank Group climbed as much as 3.36% on Tuesday after news that its chip unit Arm filed for a Nasdaq listing.

Arm did not disclose a share price and therefore has no valuation yet for the listing, but Reuters said that it is expected to be “the largest of the year.”

Shares of SoftBank pared gains later in the session and are currently up 2.16%.

17 Hours Ago

10-year Treasury yield hits highest level since 2007

U.S. Treasury yields advanced on Monday as investors remain concerned that interest rates could remain higher for longer than expected. The yield on the 10-year Treasury was up by more than 9 basis points at 4.34%, trading near levels last seen in 2007.

— Pia Singh

7 Hours Ago

CNBC Pro: UBS names the stocks that’ll drag the Stoxx Europe 600 down 10% this year

UBS has identified the stocks at risk of dragging one of Europe’s largest equities indexes lower by 10% by the end of this year.

The Swiss investment bank said top performers in 2023, such as chip stocks and luxury goods makers, are at risk of big declines by the end of the year.

CNBC Pro subscribers can read more here.

— Ganesh Rao

12 Hours Ago

Powell will likely focus on short-term monetary policy in Wyoming, Allianz economist says

Federal Reserve Chair Jerome Powell may not focus on what’s best for him in his remarks from Jackson Hole, Wyoming, later this week, according to Mohamed El-Erian, Allianz chief economic advisor.

“What’s likely is that he’s probably going to talk about short-term monetary policy issues,” El-Erian said on CNBC’s “Squawk on the Street.” “I don’t think that’s the best thing to do, because it is a very delicate situation right now.”

Still, El-Erian said the central bank leader could be helped given the “target-rich environment,” adding that there’s “a lot” he can talk about.

— Alex Harring



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