The daily business briefing: June 13, 2023

The FTC asks a court to block Microsoft's $69 billion Activision Blizzard acquisition, JPMorgan Chase reaches a $290 million settlement with an Epstein accuser, and more

The JPMorgan Chase logo outside a building
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1. FTC asks court to block Microsoft's Activision Blizzard acquisition

The Federal Trade Commission on Monday asked a court to block Microsoft's planned $69 billion acquisition of video game maker Activision Blizzard. The FTC said the companies appear to be aiming to close the deal as soon as Friday, warning that it would give Microsoft the "ability and increased incentive" to keep popular Activision games like "Call of Duty" from rivals, and "substantially lessen competition." The acquisition would be the biggest ever for the software giant, and the largest ever involving a video game company. The FTC asked an in-house administrative judge to block the deal on antitrust grounds. European Union regulators signed off in May but British authorities blocked it in April.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.