Here’s what we have for you today:
• UK joining opposition
• Wary of candy-man
• Japan’s power grab
The gang on Microsoft
Rethinking? The Competition and Markets Authority from UK said it no longer thinks the $69 billion deal will result in a “substantial lessening of competition” for console games in the country.
Reality check: The all-cash deal is set to be the biggest in the history of the tech industry. But it faces stiff opposition from rival Sony and is being examined by regulators in the US and Europe.
Soft response: Microsoft said it welcomed the findings and would work with the watchdog “to resolve any outstanding concerns.”
California’s candy drift
Californian bill: On March 2023, a California state bill proposes banning foods with five types of chemicals. For context, it could target the Skittles brand, owned by the privately-held Mars Wrigley.
Eye candy: Known as AB 418, the proposed legislation would target red dye No. 3, titanium dioxide, potassium bromate, brominated vegetable oil and propylparaben over their impact on people’s health.
US catching up? The chemicals in question are already banned in European Union countries, while the popular candies are still produced using a slightly tailored recipe.
Toshiba gets tender in Japan
The plan: Scandal-troubled Japanese electronics and technology manufacturer Toshiba has accepted a 2 trillion yen/$15 billion tender offer from Japan Industrial Partners.
In-House? The buyout would keep Toshiba’s business Japanese in an alliance with Japanese partners.
Who? Japan Industrial Partners, established in 2002 to restructure Japanese companies, contain names where it has invested, such as Sony, Hitachi, Olympus and NEC.
In addition to Orix Corp., a financial services company, electronics manufacturer Rohm Co. and the megabanks, including Sumitomo Mitsui Banking Corp., according to Japanese media reports.
Apparently: Toshiba began with a sprawling accounting scandal in 2015, involving books being doctored for years. That added to its woes related to its nuclear energy business.
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