Top Stories Tuesday, June 13: FTC Sues To Block Microsoft-Activision Blizzard Deal, Netflix's First Sports Streaming Debut, EU Mulls Antitrust Case Against Google's Ad-Tech Business - Apple (NASDAQ:AAPL)

Benzinga

The U.S. Federal Trade Commission (FTC) has sued to block Microsoft Inc's MSFT acquisition of video game maker Activision Blizzard ATVI, stating that the deal will hurt consumer choice and competition.
The FTC complaint comes when Microsoft has appealed the U.K. Competition and Market Authority's decision to block the acquisition, and the hearing is underway.
The clock is ticking for Microsoft and Activision Blizzard, with the deal deadline on July 18, 2023.

Apple Inc AAPL has landed itself in a trademark battle over the name "Vision Pro" in China, raising questions about the fate of its first-generation mixed-reality headset.
Apple has been embroiled in a trademark dispute over the name "Vision Pro" in China, adding another chapter to its history of naming woes and potentially posing challenges for the launch of its latest device.

Toyota Motor Corp TM has unveiled various new technologies that will support its transformation into a mobility company.
The technical briefing session under the theme "Let's Change the Future of Cars" explained Toyota's technology strategy and the direction of future car manufacturing.
Toyota, in April, said its future mobility strategy is based on electrification, intelligence, and diversification.

Duke Energy Corporation DUK reached an agreement to sell its unregulated utility-scale Commercial Renewables business to Brookfield Renewable Partners L.P. BEP at an enterprise value of approximately $2.8 billion.
The agreement includes more than 3,400 megawatts (alternating current) of utility-scale solar, wind, and battery storage across the U.S., among others.
The company will have net proceeds of $1.1 billion, which will strengthen its balance sheet and avoid additional holding company debt issuances.

Just Eat Takeaway.com NV JTKWY owned food-ordering and delivery marketplace, Grubhub, disclosed its decision to reduce headcount by around 15%.
The job cut will impact around 400 roles at the company.
The move reflects Grubhub's initiative to decrease operating and staff expenses and stay competitive.
Just Eat stated that it is considering a strategic partner for Grubhub, or a partial or full sale of the business.

Wall Street Journal

Netflix Inc NFLX is in discussions to live-stream its first sporting event live this fall. The company is in early discussions about a celebrity golf tournament featuring professional golfers and Formula One drivers.
The decision to do so would be Netflix's first step into live-streaming sports, which officials have debated for over a year.
The planned golf tournament would offer a way to sample live sports programming without paying for one of the major-league packages.

European Union antitrust regulators are contemplating pursuing a breakup of Alphabet Inc GOOG GOOGL Google's advertising-technology business as part of a new antitrust complaint.
The imminent complaint filed by the EU results from an investigation that the EU regulators officially launched into Google's ad-tech business in 2021.
As part of this case, EU officials are considering the possibility of ordering Google to divest certain portions of its ad-tech business.

Verizon Communications Inc VZ is looking for a new finance chief who could later transition into the Chief Executive role.
The wireless company is narrowing its search for a new finance chief and focusing on outsiders who could later transition to become a candidate for its next chief executive.
Verizon is working with advisers on a "CFO Plus" search to bring on an executive to boost the organization's business performance while also expanding its pool of possible successors.

NexTier Oilfield Solutions Inc NEX and Patterson-UTI Energy Inc PTEN are reportedly in a merger talk, creating a significant player in the oil field services industry.
A deal isn't nearing closure, and there is no surety of talks materializing into an agreement.
While oilfield services have morphed into a more consolidated sector, its companies are catering to a shrinking pool of clients—oil and gas producers—creating a need for fewer, bigger providers, according to analysts.

Reuters

Experts in Europe considering the potential use of a new Alzheimer's disease drug developed by Eisai Co Ltd ESALY and Biogen Inc BIIB say Leqembi (lecanemab) 's ability to slow cognitive decline may not outweigh its health risks or justify the strain it would place on limited healthcare resources.
Nine neurologists and researchers across six countries have expressed that Lecanemab is unlikely to be widely used even if it receives approval, aligning with analyst estimates suggesting that the drug's European market will be relatively small.

SoftBank Group Corp SFTBY SFTBY reportedly aims for fresh layoffs at its Vision Fund investment arm.
SoftBank may announce a headcount reduction in the next two weeks, impacting up to 30% of its employees.
If the layoff is finalized, it will result in 150 job cuts globally at the investing arm and SoftBank Group International in September 2023.

CNBC

Tesla Inc TSLA recently struck two deals with Detroit's "Big Two" – General Motors Corp GM and Ford Motor Co F — allowing their electric cars access to its charging infrastructure.
Former Ford CEO Mark Fields weighed in on the development and what it means for Tesla and the two legacy automakers.
The decision by Ford and GM to align with their rival in the EV arena was a pragmatic move, Fields said in an interview with CNBC.

Bloomberg

United Airlines Holdings Inc UAL is reportedly offering its pilots a contract with an incremental value above $8 billion over four years.
"We have a deal on our table that would be industry-leading," Chief Executive Officer Scott Kirby added.
Early in June, it was reportedly revealed in a letter from the head of the United Airlines Pilots Union that the union had unanimously supported a vote authorizing a strike.

FTC Sues To Block Microsoft-Activision Blizzard Deal, Netflix's First Sports Streaming Debut, EU Mulls Antitrust Case Against Google's Ad-Tech Business: Today's Top Stories