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George Osborne advisory firm lands role on contested $75bn Call of Duty deal

Sky News Friday, 9 June 2023
George Osborne advisory firm lands role on contested $75bn Call of Duty dealThe advisory firm at which George Osborne, the former chancellor, is a partner, has landed a key role on the $75bn takeover of Activision Blizzard by Microsoft.
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Activision Blizzard Activision Blizzard American video game holding company

Former Treasury Secretary Looking to Form Investor Group to Purchase TikTok [Video]

Former Treasury Secretary Looking to Form Investor Group to Purchase TikTok

Former Treasury Secretary , Looking to Form Investor Group , to Purchase TikTok. NBC reports that former Treasury Secretary Steven Mnuchin is looking to put together an investor group to acquire ByteDance's TikTok. NBC reports that former Treasury Secretary Steven Mnuchin is looking to put together an investor group to acquire ByteDance's TikTok. The news comes as a bipartisan bill works its way through Congress that threatens to bring an end to the platform's existence in the United States. The news comes as a bipartisan bill works its way through Congress that threatens to bring an end to the platform's existence in the United States. On March 13, the House of Representatives passed the bill, which would force ByteDance to divest the platform or face a ban on the app in the U.S. I think the legislation should pass and I think it should be sold. It’s a great business and I’m going to put together a group to buy TikTok, Steven Mnuchin, Former Treasury Secretary, via CNBC’s “Squawk Box”. This should be owned by U.S. businesses. There’s no way that the Chinese would ever let a U.S. company own something like this in China, Steven Mnuchin, Former Treasury Secretary, via CNBC’s “Squawk Box”. NBC points out that the bill still requires Senate approval before it heads to President Joe Biden, who has indicated that he would support the bill if it passes through Congress. NBC points out that the bill still requires Senate approval before it heads to President Joe Biden, who has indicated that he would support the bill if it passes through Congress. However, TikTok CEO Shou Zi Chew has said that selling TikTok is not a viable option. . According to PitchBook data, , ByteDance was valued at , $220 billion in 2023. . Mnuchin has yet to specify the potential valuation of a deal to acquire the social media platform or which investors may be interested in the deal. At the same time, the 'Wall Street Journal' reported that former Activision Blizzard CEO Bobby Kotick has also expressed interest in a deal to purchase TikTok. At the same time, the 'Wall Street Journal' reported that former Activision Blizzard CEO Bobby Kotick has also expressed interest in a deal to purchase TikTok

Credit: Wibbitz Top Stories    Duration: 01:31Published
FTC Files Complaint Against Microsoft After Activision Layoffs [Video]

FTC Files Complaint Against Microsoft After Activision Layoffs

FTC Files Complaint Against Microsoft , After Activision Layoffs. FTC Files Complaint Against Microsoft , After Activision Layoffs. On Jan. 30, Microsoft's gaming division laid off 1900 people, including at Activision Blizzard. . Now, the Federal Trade Commission (FTC) has accused Microsoft of not upholding its promise to let Activision operate independently after being acquired for $69 billion, Engadget reports. . Now, the Federal Trade Commission (FTC) has accused Microsoft of not upholding its promise to let Activision operate independently after being acquired for $69 billion, Engadget reports. . Microsoft’s recently-reported plan to eliminate 1,900 jobs in its video game division, including in its newly-acquired Activision unit, contradicts the foregoing representations it made to this Court, FTC, via complaint. Specifically, Microsoft reportedly has stated that the layoffs were part of an 'execution plan' that would reduce 'areas of overlap' between Microsoft and Activision, , FTC, via complaint. ... which is inconsistent with Microsoft’s suggestion to this Court that the two companies will operate independently post-merger, FTC, via complaint. Microsoft previously suggested that layoffs wouldn't need to be made if its "vertical acquisition" of Activision was approved because there would be no job redundancies, Engadget reports. . Microsoft previously suggested that layoffs wouldn't need to be made if its "vertical acquisition" of Activision was approved because there would be no job redundancies, Engadget reports. . The FTC has asked for a temporary acquisition pause so that it can further investigate. . The agency has continually challenged the acquisition since it was approved by the U.K.'s Competition and Markets Authority last year. If the FTC continues to push its antitrust concerns, it's possible that Microsoft could be forced to divest Activision Blizzard, Engadget reports. . 6,000 video game workers have already been laid off across the industry this year. Last year, about 10,500 were laid off.

Credit: Wibbitz Top Stories    Duration: 01:30Published
‘Call of Duty’ Exec Johanna Faries Named Activision Blizzard’s President [Video]

‘Call of Duty’ Exec Johanna Faries Named Activision Blizzard’s President

‘Call of Duty’ Exec Johanna Faries , Named Activision Blizzard’s President. Microsoft, which acquired Activision Blizzard for $69 billion in 2023, made the announcement on Jan. 29, Reuters reports. . Faries will replace Mike Ybarra, who stepped down from the position last week. Ybarra and chief design officer Allen Adham left the company as Microsoft laid off almost 2,000 employees at Activision and Xbox. . Ybarra and chief design officer Allen Adham left the company as Microsoft laid off almost 2,000 employees at Activision and Xbox. . Matt Cox will assume Faries' previous 'Call of Duty' role. . Faries worked for the NFL for over a decade before joining Activision Blizzard in 2018. Her new position will become effective Feb. 5. . Faries sent an email to Activision Blizzard employees ahead of her arrival. . It is important to note that Call of Duty’s way of waking up in the morning to deliver for players can often differ from the stunning games in Blizzard’s realm: , Johanna Faries, incoming Activision Blizzard president, via email to staff. ... each with different gameplay experiences, communities that surround them, and requisite models of success. , Johanna Faries, incoming Activision Blizzard president, via email to staff. I’ve discussed this with the Blizzard leadership team and I’m walking into this role with sensitivity to those dynamics, and deep respect for Blizzard, as we begin to explore taking our universes to even higher heights, Johanna Faries, incoming Activision Blizzard president, via email to staff

Credit: Wibbitz Top Stories    Duration: 01:30Published

Microsoft Microsoft American multinational technology corporation

These US Cities Have the Highest Populations of Millionaires [Video]

These US Cities Have the Highest Populations of Millionaires

These US Cities, Have the Highest Populations of, Millionaires. According to a report by Henley & Partners, the United States remains the top country in the world for private wealth creation and accumulation. Quartz reports that the U.S. accounts for about 32% of global liquid investable wealth, valued at approximately $67 trillion. Here are some of the cities with the largest populations of millionaires, according to the report. Austin, This Texas city had the biggest explosion in millionaire growth in the U.S. over the past ten years, reaching 32,700 by the end of 2023. . Miami, This Florida city is home to 35,300 millionaires and 15 billionaires, including Amazon CEO Jeff Bezos. Boston, While having just eight billionaires, the fewest of any other city on the list, this New England city is home to , 42,900 millionaires. Seattle, This Washington State city is the home of some of the largest corporations in the U.S., including Amazon and Microsoft. It's also home to 54,200 millionaires and 11 billionaires. . Chicago, Approximately 120,500 millionaires live in this Midwestern metropolis. . Los Angeles, The second-most populous city in the U.S. has about, 212,100 millionaires and 43 billionaires. San Francisco, The tech hub of the U.S. boasts the most billionaires with a whopping 68, as well as the second-most millionaires with 305,700. . New York, The city with the most high net worth individuals has about , 349,500 millionaires and 60 billionaires

Credit: Wibbitz Top Stories    Duration: 01:31Published
Elon Musk’s Emails Are Published by OpenAI [Video]

Elon Musk’s Emails Are Published by OpenAI

Elon Musk’s Emails , Are Published by OpenAI. Musk recently sued OpenAI for shifting from non-profit operations to a for-profit model. . Musk recently sued OpenAI for shifting from non-profit operations to a for-profit model. . Musk, an OpenAI co-founder and early investor, says he wants the company to get back to its original goal of creating AI for the benefit of humanity, not revenue. He also wants company co-founders Sam Altman and Greg Brockman to pay back any profit they received. He also wants company co-founders Sam Altman and Greg Brockman to pay back any profit they received. Now, the ChatGPT maker is calling Musk out, releasing redacted emails that seem to show him agreeing that the company needed to adopt a for-profit model to advance its projects. This needs billions per year immediately or forget it. I really hope I’m wrong. , Elon Musk, via an email dated Dec. 26, 2018, provided by CNN. He went on to suggest a $1 billion funding commitment and pledged to cover the remainder of whatever was not raised. Musk ultimately contributed $45 million to OpenAI's funding, and $90 million was raised through other donors, CNN reports. . He never fulfilled his promise to fund the rest, CNN reports. . We all understood we were going to need a lot more capital to succeed at our mission — billions of dollars per year, which was far more than any of us, especially Elon, thought we’d be able to raise as the non-profit, OpenAI, via blog post. In 2019, OpenAI became a for-profit entity and now has a $90 billion valuation. Microsoft has committed $13 billion to their cause. We’re sad that it’s come to this with someone whom we’ve deeply admired—someone who inspired us to aim higher, then told us we would fail, started a competitor, and then sued us when we started making meaningful progress towards OpenAI’s mission without him, OpenAI, via blog post

Credit: Wibbitz Top Stories    Duration: 01:30Published
Elon Musk Sues OpenAI [Video]

Elon Musk Sues OpenAI

Elon Musk , Sues OpenAI. Musk filed the lawsuit against OpenAI, co-founders Sam Altman and Greg Brockman, and other entities on Feb. 29, TechCrunch reports. . Musk filed the lawsuit against OpenAI, co-founders Sam Altman and Greg Brockman, and other entities on Feb. 29, TechCrunch reports. . Musk filed the lawsuit against OpenAI, co-founders Sam Altman and Greg Brockman, and other entities on Feb. 29, TechCrunch reports. . Musk, who is also an OpenAI co-founder and early financial backer, . claims that OpenAI breached an original agreement by shifting its focus to pursue profits. . Musk says that he invested in the company under the promise that it would operate as a non-profit working to develop AI for the benefit of humanity. But after partnering with Microsoft and receiving a $13 billion investment, Musk alleges that the company switched to a for-profit business model. In reality, however, OpenAI, Inc. has been transformed into a closed-source de facto subsidiary of the largest technology company in the world: Microsoft. , Via lawsuit. Under its new board, it is not just developing but is actually refining an AGI to maximize profits for Microsoft, rather than for the benefit of humanity, Via lawsuit. This was a stark betrayal of the Founding Agreement, Via lawsuit. Musk is seeking to stop OpenAI from monetizing certain technologies and would also like the court to rule that AI systems constitute artificial general intelligence and exceed licensing agreements. Musk is seeking to stop OpenAI from monetizing certain technologies and would also like the court to rule that AI systems constitute artificial general intelligence and exceed licensing agreements. Additionally, Musk is seeking "potential restitution of donations," TechCrunch reports.

Credit: Wibbitz Top Stories    Duration: 01:30Published
AI will revolutionise our lives like nothing since the printing press, says Microsoft President [Video]

AI will revolutionise our lives like nothing since the printing press, says Microsoft President

If AI ‘is the most powerful technology in the world, shouldn't it have at least as much regulation as a carton of milk?’ says Microsoft President, Brad Smith.

Credit: euronews (in English)    Duration: 12:51Published
Bill Gates arrives in Bhubaneshwar, visits slum and interacts with residents | Watch here | Oneindia [Video]

Bill Gates arrives in Bhubaneshwar, visits slum and interacts with residents | Watch here | Oneindia

On Wednesday morning, Microsoft co-founder Bill Gates, alongside state government officials, made a notable visit to a slum in Bhubaneswar, Odisha. Their destination was the Biju Adarsh Colony in the Maa Mangla Basti, where they engaged directly with the residents. Gates' purpose extended beyond a mere inspection of living conditions; he also took the opportunity to interact closely with women's self-help groups (SHGs) that operate within the area. This visit underscores the collaborative efforts between various departments of the state government and the Bill & Melinda Gates Foundation. Together, they are striving to address critical issues within marginalised communities, particularly focusing on empowerment initiatives led by women's SHGs. The presence of such a prominent figure as Bill Gates highlights the importance of these grassroots efforts and signals a commitment to fostering positive change and inclusive development in Odisha's urban areas. #BillGates #NaveenPatnaik #BhubaneshwarVisit #SlumInteraction #CommunityEngagement #ResidentInteraction #Philanthropy #UrbanDevelopment #CommunityEmpowerment #SocialImpact #HumanitarianEfforts #BhubaneshwarCommunity #InclusiveDevelopment #CommunityOutreach #EmpoweringCommunities #BillGatesInIndia #CommunityBuilding #HumanitarianVisit #SocialChange #BhubaneshwarImpact #BuildingBetterCommunities ~HT.99~PR.152~ED.194~

Credit: Oneindia    Duration: 03:02Published