Microsoft has cleared a hurdle with the Federal Trade Commission (FTC) for its proposed $68.7B Activision Blizzard acquisition, suggesting that the merger could get U.S. regulatory approval as early as August. According to reports, Microsoft has now met the FTC's demands for information, leaving the agency with 30 days to issue any final challenges in its review of the deal. More: - The all-cash deal will automatically move forward if the FTC doesn't request any more information from Microsoft or Activision Blizzard.
- The U.S. antitrust review is assessing if the deal would be fair to consumers, investors, and the larger video-gaming market.
- The deal still faces regulatory scrutiny elsewhere. The U.K.'s antitrust regulator opened an investigation last month to determine if the proposed acquisition will reduce competition.
- The deal is Microsoft’s largest ever since it bought LinkedIn in 2016 for $26.2B. It would enable Microsoft to publish Activision franchises, such as Candy Crush, Warcraft, Diablo, and Overwatch, and add new and existing Activision Blizzard games to its Game Pass.
- It would also make Microsoft the world's third-largest gaming enterprise by revenue, after Tencent and Sony. Microsoft previously purchased game maker Bethesda in 2021 for $7.5B and Minecraft maker Mojang in 2014 for $2.5B.
TWEAKTOWN 
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Snap announced the launch of Snapchat for the Web, the desktop version of its mobile app. The browser-based app will start out as an exclusive feature for paid Snapchat+ subscribers in the U.S., U.K., Canada, New Zealand, and Australia. More: - Users will be able to log in at web.snapchat.com from a desktop to access chat, snap, video calls, and Snap's augmented reality Lenses.
- Like the mobile app, messages sent on the web version will be automatically deleted in 24 hours.
- The web version, which requires two-step verification with a phone, will display a Bitmoji in chats to indicate that a user is communicating via Snapchat for Web.
- Snap plans to roll out the service later to subscribers in France, Germany, Saudi Arabia, and the United Arab Emirates before launching it worldwide, though it didn't provide a timeline.
- The company first launched Snapchat+ in multiple countries last month. The $3.99-per-month service unlocks experimental, pre-release, and exclusive features, such as the ability to customize the app’s icon and see who has rewatched Stories.
TECHCRUNCH
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A U.K. court has directed the country's competition regulator to re-investigate Meta's Giphy purchase after a judge found issues in the initial probe that blocked the deal. The case has been referred back to the U.K.'s Competition and Markets Authority (CMA), which last year ordered Meta to sell Giphy, the GIF-sharing platform it acquired in 2020 for $315M. More: - Last year's decision was the first time a U.K. authority had reversed a Big Tech acquisition. The CMA had concerns the deal would give Meta an unfair advantage over other social media apps using Giphy and result in a loss of advertising competition.
- The agency fined Meta $67.5M for failing to supply updates as part of its review process. The CMA said it had given Meta multiple warnings to provide the information, and the company's delay was deliberate.
- However, Britain's Competition Appeals Tribunal awarded an appeal to Meta last month, saying that the CMA didn't properly consult and wrongly redacted portions from its decision.
- The CMA will now reconsider whether the deal could actually harm competition in the social media and display advertising markets. This time, Meta will be provided access to the final report, without redactions, to defend the acquisition.
BLOOMBERG
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Delta said it has ordered 100 737 Max 10 aircraft, its first large order for new Boeing planes in over 10 years. Delta expects the jumbo jets to lower fuel emissions and consumption by up to 30% over the current fleet. More: - Delta didn't disclose how much it will pay. The order includes an option to buy another 30 jets, which would value the deal at between $13.5B and $17.6B, not including a volume discount.
- The deal gives Boeing a boost after struggling to keep up with rival Airbus SE's sales following two crashes of its 737 Max aircraft. The accidents in 2018 and 2019 killed 346 passengers and crew members, leading to worldwide groundings of the 737 Max until 2020. During the pandemic, Delta retired Boeing 777s from its fleet and increased deliveries of Airbus A350 planes.
- Boeing delivered 51 passenger and cargo planes in June, its best month since March 2019. The Max 10, the largest in the Max family, has yet to win government approval, which Boeing hopes to gain by the end of the year.
THE WALL STREET JOURNAL
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Samsung could announce its new Galaxy Z Flip 4 foldable phone during the next Galaxy Unpacked event, scheduled for Aug. 10. The company could launch the new phone alongside the Galaxy Z Fold 4, another upgraded model in its foldable lineup. More: - Both foldables are purported to have "significant design upgrades," including a smaller build for the tablet-sized Galaxy Z Fold 4 and a larger cover screen for the cheaper clamshell Galaxy Z Flip 4.
- In addition to phones, Samsung could unveil new smartwatches, the Galaxy Watch 5 and the Galaxy Watch 5 Pro, according to analysts.
- The devices could go on sale as early as Aug. 26. The timing coincides with last year's unveiling of the Galaxy Z Fold 3 and Galaxy Z Flip 3 on Aug. 11 and release on Aug. 27.
- Samsung reported a record $61.4B in revenue in its first quarter, driven by strong sales of its new flagship Galaxy S smartphones, a competitor to the iPhone 13.
- Similarly, Google could release its first foldable Pixel phone as early as Q4 2022. It could be called the Pixel Notepad and have an outer display wider but shorter than the Z Fold 4.
CNET
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Two U.S. lawmakers are asking the Federal Trade Commission (FTC) to take action against "abusive and deceptive" data practices in the Virtual Private Network (VPN) industry. U.S. Rep. Anna G. Eshoo (D-CA) and Sen. Ron Wyden (D-OR) have accused the industry of improperly selling and providing user data to police and misleading consumers about their services and security. They are concerned about data privacy following the Supreme Court decision overturning Roe v. Wade. More: - In their letter, the lawmakers were concerned that VPN users who seek information on abortions online may experience a false sense of security and higher prosecution risk. They wrote: "With abortion illegal or soon to be illegal in 13 states and severely restricted in many more, these abusive and exploitative data practices are simply unacceptable."
- They cited a Consumer Reports finding that three-quarters of leading VPN providers have misled consumers about their technology or made exaggerated claims about how they protect users, such as advertising non-existent "military-grade encryption."
- Regulators lack the tools to properly audit security claims made by VPNs, according to the lawmakers. It was previously found that 72% of free VPN services and 35% of premium versions had at least one third-party ad tracker.
- The letter urges FTC Chair Lina Khan to call for the commission to clamp down on the sector and develop a brochure for abortion-seekers on how to protect their data.
THE VERGE
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- The Dutch Central Bank issued a $3.4M fine against cryptocurrency exchange Binance for operating in the Netherlands without proper registration.
- An Illinois plaintiff filed a class-action lawsuit accusing Sony of hiding an alleged defect that causes the Playstation 5 to shut off randomly during gameplay.
- General Electric announced the names of the three offshoot companies that would be launched after its split. They are GE HealthCare, GE Aerospace, and GE Vernova, its renewable energy business.
- Fintech startup Stripe reduced its internal valuation by 28% to $74B.
- Snap is testing a new lens program for NFT creators. If launched, the plan would allow artists to share their NFTs as AR filters or "lenses."
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 |  | Beth is a writer and analyst at Inside.com covering artificial intelligence and daily tech news. Since starting work at Inside, she has covered various topics including virtual reality, drones, and e-commerce. Prior to that she was a public policy and investigative reporter for The Arizona Republic, where she won a Pulitzer Prize nomination and First Amendment Award for reporting on the rising costs of pensions. Reach her at Beth.Duckett@inside.com. |   | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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