Morning Brew Daily Microsoft-Activision Deal Complete & Bank of America Opens Fake Accounts
Jul 12, 2023
A judge clears the way for Microsoft's $69 billion acquisition of Activision Blizzard, shaking up the gaming industry. Meanwhile, Bank of America faces scrutiny for opening fake accounts and charging illegal fees. The hosts explore the Anthropocene epoch and its human impact on the planet, while contrasting the dairy crisis with a shortage of sriracha. They also discuss significant corporate shifts at Disney and the influence of key figures in media, all amidst a backdrop of billionaires gathering for annual conferences.
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Microsoft-Activision Deal Approved
- Microsoft's acquisition of Activision Blizzard, valued at $69 billion, faced regulatory hurdles due to antitrust concerns.
- A judge ruled in favor of Microsoft, potentially allowing the deal to proceed and reshaping the video game landscape.
Extreme Weather Impacts
- Extreme weather, including catastrophic flooding in the Northeast, is causing billions in damages and impacting insurance markets.
- Inland areas, previously considered insulated, are now experiencing the effects of climate change, highlighting the need for preparedness.
Bank of America Penalties
- Bank of America faced penalties for charging double overdraft fees, withholding credit card rewards, and creating fake accounts.
- Regulators ordered the bank to pay over $250 million in fines and customer reimbursements as part of a broader crackdown on junk fees.