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Thursday, 15 December 2022

Is Wegz performing at the World Cup closing ceremony? Microsoft says Xbox won’t stamp out competition with its Activision acquisition

Could Wegz perform at the World Cup closing ceremony? Egyptian rapper Wegz is rumored to be in the planned lineup of performers at the Qatar World Cup closing ceremony, according to Instagram page Hip Hop Scene. Wegz will reportedly perform Ezz Al Arab (watch, runtime: 3:48), which he released as part of the 2022 World Cup soundtrack.

Microsoft says its planned acquisition of Activision won’t stifle competition: Tech giant Microsoft — which owns the Xbox gaming console — “has entered into a 10-year commitment to bring Call of Duty” to gaming platforms other than those owned by Microsoft, including Nintendo, head of gaming at Microsoft Phil Spencer said in a recent tweet. Spencer attempted to allay fears that Microsoft’s planned USD 69 bn acquisition of game developer Activision would harm market competition, with the Federal Trade Commission filing an antitrust lawsuit last week to block the agreement. The company is also planning to continue offering “Call of Duty on Steam” distribution platform, Spencer said in a separate tweet. The story got coverage in the New York Times, Reuters and CNBC among others.

Apple will allow alternative app stores on its iPhones and iPads in the EU as soon as late 2023, to comply with the EU’s Digital Markets Act, which is expected to be enforced in 2024, Bloomberg reports. The tech giant is getting ready to allow its users to install alternative app stores which will allow users to download third-party apps without using the Apple App Store, circumventing the 30% commission Apple currently charges on app sales through its platform. The EU’s new competition laws are intended to level the playing field for third-party developers. Apple and Google have long been criticized by regulators and software developers for exercising disproportionate control as gatekeepers. The announcement boosted several app makers’ stock prices, despite the changes initially being planned to apply only in Europe — which is Apple's second-biggest market, having generated USD 95 bn in sales during the last fiscal year.

Apple has yet to make a decision on whether or not it will comply with a provision of the Digital Markets Act that will allow alternative payments systems. This would allow developers to include third-party payment systems in their apps which would allow users to make in-app purchases without involving Apple.


Elon Musk sold 22 mn Tesla shares worth USD 3.58 bn, bringing his total stock sales to USD 40 bn, according to Reuters. Tesla shares have lost 55% of their value year-to-date, as investors became concerned over Musk’s decision to acquire Twitter Inc. for USD 44 bn, and auto loan rates increased on the sidelines of manufacturing problems in China — Tesla’s second-largest market after the US. The upheaval on Twitter has been a major burden on Tesla, which is already facing its own set of challenges.

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