World News

UK’s CMA confirms decision to block Microsoft-Activision but opens fresh probe of restructured deal proposal on August 22, 2023 at 8:53 am

Published

3 years ago

August 22, 2023

The UK’s antitrust regulator has confirmed its April decision to block the $68.7BN Microsoft-Activision gaming mega-merger — rejecting arguments by Microsoft that it should overturn its original prohibition because of developments since the original decision. However in a simultaneous announcement today the Competition and Markets Authority (CMA) has opened a new investigation into a restructured proposal Microsoft has submitted for review.

Under the restructured proposal the tech giant would not acquire the cloud streaming rights to all current and future Activision games released during the next 15 years (excluding in the European Economic Area (EEA)). Instead the cloud streaming rights will be divested to Ubisoft prior to Microsoft’s acquisition of Activision.

In a statement Sarah Cardell, the CMA’s chief executive, described the revised proposal as “substantially different” compared to the deal the regulator has rejected:

Microsoft has notified a new and restructured deal, which is substantially different from what was put on the table previously. As part of this new deal, Activision’s cloud streaming rights outside of the EEA will be sold to a rival, Ubisoft, who will be able to license out Activision’s content to any cloud gaming provider. This will allow gamers to access Activision’s games in different ways, including through cloud-based multigame subscription services. We will now consider this deal under a new Phase 1 investigation.

This is not a green light. We will carefully and objectively assess the details of the restructured deal and its impact on competition, including in light of third-party comments. Our goal has not changed — any future decision on this new deal will ensure that the growing cloud gaming market continues to benefit from open and effective competition driving innovation and choice.

Speaking to BBC Radio 4’s Today program this morning to summarize the developments, she also said: “There are two important developments that we’ve announced today: The first is that we have finalised the legal order that prohibits the original deal between Microsoft and Activision. That deal cannot proceed.

“What Microsoft have announced separately today is a new restructured deal which appears to be substantially different from the deal that was previously on the table. Importantly, it excludes the cloud streaming rights in relation to all of Activision’s games for the next 15 years. Those rights will instead be sold separately by Activision to Ubisoft, which is an independent gaming company.”

The CMA’s preliminary view of the revised proposal is that it will allow games to access Activision games in different ways, including through cloud-based multigame subscription services, buy-to-play or other business models.

It also suggests the restructured proposal could enable Activision’s titles to be made available on cloud gaming services that run a non-Windows operating system, such as Linux, as it notes the proposal would enable Ubisoft to require Microsoft to adapt Activision’s titles to run on other OSes (if it pays a fee).

The regulator will now spend several weeks weighing the detail via its Phase 1 investigation to firm up a view. Although the mood music coming out of the CMA today sounds upbeat.

“It’s a substantial portfolio of new and future games,” suggested Cardell of the restructured proposal, adding: “Our concern, as you might remember previously, was that the original deal would restrict competition in this really important developing new market for cloud gaming.

“We were concerned that Microsoft would have too much control over the way that market was developing. What Microsoft have announced today is that the deal will not give them any control over those rights. Instead those rights — the ability, for example, for Ubisoft to enter into any kind of licensing deal with a number of different cloud gaming providers supporting different business models; subscription services for example, or providing cloud gaming over a non-Windows operating system, which was another of our previous concerns — that creates those opportunities.”

“I should say this is just the beginning of a new investigation. We haven’t reached a final view,” she also told the BBC, adding: “We will be carefully scrutinising this new deal and importantly, seeking input from third parties from companies who have an interest in this deal, before we reach a final decision.

“It’s critically important and, as we have said all along, it’s critically important in this new area of cloud gaming that this market remains open for effective competition — that gamers can benefit from innovation, from choice — that’s been our priority throughout this process. And it remains our priority as we go through this new stage of investigation.”

If accepted, the proposal would require Ubisoft to compensate Microsoft for the cloud streaming rights to Activision’s games through a one-off payment and a market-based wholesale pricing mechanism, including an option that supports pricing based on usage, per the CMA.

The UK competition authority has found itself isolated among major global regulators in seeking to block the deal after the European Union green-lit the mega-merger in May — and again last month, after US courts blocked an attempt by the FTC to sue to stop the deal.

The CMA signalled last month that a restructured deal could offer Microsoft and Activision a route out of the impasse, suggesting it could lead to a fresh merger investigation.

That fresh probe is now taking place — with a deadline to complete the review falling on the same day (October 18) Microsoft and Activision have given themselves to complete the acquisition (following an extension to their own deadline which was agreed last month).

The exclusion of the EEA from the divested cloud streaming rights proposal the CMA is now considering is presumably related to the EU’s decision to green-light the mega-merger back in May. As part of commitments Microsoft offered to obtain clearance from EU regulators, it pledged to allow consumers in the EEA to stream all current and future Activision games via any cloud-based game streaming service for the next 10 years.

Microsoft, Activision give themselves three more months to close $68.7BN mega-merger

Europe greenlights Microsoft’s $68.7B Activision acquisition

Business

GLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER

Published

4 weeks ago

May 16, 2026

Bolanle Media Staff

FOR IMMEDIATE RELEASE

Theme: “People, Planet, and Profit in the Age of AI and Innovation”

London, United Kingdom — The Global Sustainability Summit (GSS) is officially back for its landmark 5th Edition, continuing its legacy as one of the leading international platforms driving sustainable development, climate action, ethical investment, innovation, and global collaboration.

Convened annually at the prestigious British Parliament, House of Lords, Palace of Westminster, by Ambassador Canon Chinenem Otto, the Summit has, over the last four years, successfully fostered international dialogue and partnerships that have contributed to the advancement of global sustainability goals, the establishment of sustainability-focused ministries, departments and policy structures across national and subnational governments, and the attraction of major investors into sustainable development projects, corporations and emerging economies.

This year’s summit, themed “People, Planet, and Profit in the Age of AI and Innovation,” will explore how emerging technologies, responsible leadership, sustainable finance, innovation, and global partnerships can shape a more inclusive, resilient and environmentally conscious future.

The 5th Edition promises to be the most impactful yet, bringing together world leaders, policymakers, diplomats, investors, academics, innovators, climate experts and youth leaders from across the globe to discuss actionable solutions toward achieving a sustainable and equitable future.

Among the distinguished speakers, delegates and honorees already lined up for the Summit are:

• His Excellency Mallam AbdulRahman AbdulRazaq — Executive Governor of Kwara State, Nigeria and Chairman of the Nigeria Governors’ Forum

• His Excellency Senator Prince Bassey Otu — Executive Governor of Cross River State, Nigeria

• Ambassador Patricia Espinosa Cantellano — Former Executive Secretary of UN Climate Change (UNFCCC) and Former Foreign Minister of Mexico

• Lord Marvin Rees, Baron Rees of Easton OBE — Member of the House of Lords, United Kingdom

• Hon. Neema K. Lugangira — Secretary-General of Women Political Leaders (WPL), Brussels and Former Member of Parliament

• Her Excellency Dr. Netumbo Nandi-Ndaitwah — President of the Republic of Namibia

• His Excellency Nangolo Mbumba — Former President of Namibia

• Former President of Tanzania

• Her Excellency Ambassador Professor Olufolake AbdulRazaq — First Lady of Kwara State, Nigeria and Chairperson of Nigeria Governors’ Spouses Forum

• Your Excellency Dr. Dikko Umar Radda, PhD, CON — Executive Governor of Katsina State and Chairman of the Northwest Governors Forum, Nigeria

• Hon. Sam Shafiishuna Nujoma — Governor of Khomas Region, Namibia

• H.E. Mr. Veiccoh Nghiwete — High Commissioner of the Republic of Namibia to the United Kingdom

• Her Excellency Ms. Macenje “Che Che” Mazoka — High Commissioner of Zambia to the United Kingdom

• Ms. Danielle Newman — Partner Lead, ICT, World Economic Forum

• Leanne Elliott Young — Co-founder, Institute of Digital Fashion & CommuneEast

• Ms. Chloe Russell — Producer & Presenter, Art, Science and Nature

• Professor Marie-Claire Cordonier Segger — University of Cambridge & University of Waterloo

• Dr. Alexandra R. Harrington — IUCN World Commission on Environmental Law (WCEL)

• Professor Payam Akhavan — Massey College, University of Toronto

• Mr. Mallai C. E. Sathya — President, Dravida Vetri Kazhagam and International Movement for Tamil Culture Asia

The Summit will feature high-level panel discussions, strategic investment conversations, sustainability awards, policy dialogues, innovation showcases, youth engagement sessions and international networking opportunities focused on climate resilience, ethical financing, food-water-energy sustainability, circular economy, artificial intelligence, diplomacy and sustainable development.

Speaking ahead of the Summit, Convener Ambassador Canon Chinenem Otto noted:

“As the world rapidly evolves through artificial intelligence and technological innovation, we must ensure that sustainability remains people-centered, environmentally responsible and economically inclusive. The Global Sustainability Summit continues to serve as a bridge connecting governments, institutions, innovators and investors to accelerate practical sustainability solutions globally. Our fifth edition is not only a celebration of progress made over the years, but also a renewed call for global collaboration and actionable impact toward achieving the Sustainable Development Goals and Net Zero ambitions.”

The Global Sustainability Summit continues to position itself as a catalyst for transformative partnerships and sustainable global progress, reinforcing the urgent need for collective action toward a more resilient and sustainable future.

More announcements regarding additional speakers, partners and summit activities will be unveiled in the coming weeks.

News

US May Completely Cut Income Tax Due to Tariff Revenue

Published

7 months ago

November 30, 2025

Bolanle Media Staff

President Donald Trump says the United States might one day get rid of federal income tax because of money the government collects from tariffs on imported goods. Tariffs are extra taxes the U.S. puts on products that come from other countries.

What Trump Is Saying

Trump has said that tariff money could become so large that it might allow the government to cut income taxes “almost completely.” He has also talked about possibly phasing out income tax over the next few years if tariff money keeps going up.

How Taxes Work Now

Right now, the federal government gets much more money from income taxes than from tariffs. Income taxes bring in trillions of dollars each year, while tariffs bring in only a small part of that total. Because of this gap, experts say tariffs would need to grow by many times to replace income tax money.

Questions From Experts

Many economists and tax experts doubt that tariffs alone could pay for the whole federal budget. They warn that very high tariffs could make many imported goods more expensive for shoppers in the United States. This could hit lower- and middle‑income families hardest, because they spend a big share of their money on everyday items.

What Congress Must Do

The president can change some tariffs, but only Congress can change or end the federal income tax. That means any real plan to remove income tax would need new laws passed by both the House of Representatives and the Senate. So far, there is no detailed law or full budget plan on this idea.

What It Means Right Now

For now, Trump’s comments are a proposal, not a change in the law. People and businesses still have to pay federal income tax under the current rules. The debate over using tariffs instead of income taxes is likely to continue among lawmakers, experts, and voters.

News

Epstein Files to Be Declassified After Trump Order

Published

7 months ago

November 20, 2025

Bolanle Media Staff

Former President Donald Trump has signed an executive order directing federal agencies to declassify all government files related to Jeffrey Epstein, the disgraced financier whose death in 2019 continues to fuel controversy and speculation.

The order, signed Wednesday at Trump’s Mar-a-Lago estate, instructs the FBI, Department of Justice, and intelligence agencies to release documents detailing Epstein’s network, finances, and alleged connections to high-profile figures. Trump described the move as “a step toward transparency and public trust,” promising that no names would be shielded from scrutiny.

“This information belongs to the American people,” Trump said in a televised statement. “For too long, powerful interests have tried to bury the truth. That ends now.”

U.S. intelligence officials confirmed that preparations for the release are already underway. According to sources familiar with the process, the first batch of documents is expected to be made public within the next 30 days, with additional releases scheduled over several months.

Reactions poured in across the political spectrum. Supporters praised the decision as a bold act of accountability, while critics alleged it was politically motivated, timed to draw attention during a volatile election season. Civil rights advocates, meanwhile, emphasized caution, warning that some records could expose private victims or ongoing legal matters.

The Epstein case, which implicated figures in politics, business, and entertainment, remains one of the most talked-about scandals of the past decade. Epstein’s connections to influential individuals—including politicians, royals, and executives—have long sparked speculation about the extent of his operations and who may have been involved.

Former federal prosecutor Lauren Fields said the release could mark a turning point in public discourse surrounding government transparency. “Regardless of political stance, this declassification has the potential to reshape how Americans view power and accountability,” Fields noted.

Officials say redactions may still occur to protect sensitive intelligence or personal information, but the intent is a near-complete disclosure. For years, critics of the government’s handling of Epstein’s case have accused agencies of concealing evidence or shielding elites from exposure. Trump’s order promises to change that narrative.

As anticipation builds, journalists, legal analysts, and online commentators are preparing for what could be one of the most consequential information releases in recent history.