Welcome to the Weekly Scan. Here’s what we’re following for the week of December 12, 2022.
When it snows, it blizzards. The U.S. Federal Trade Commission (FTC) is suing Microsoft over its attempted acquisition of video game maker Activision Blizzard, arguing that such a deal would hamper competition. The $69 billion proposed deal would make Microsoft, which owns Xbox, the third largest gaming company. The FTC said that the acquisition could empower Microsoft to limit access to Activision Blizzard’s games. Shares in Activision Blizzard fell in response to the news.
Juul stays charged. E-cigarette maker Juul settled more than 5,000 lawsuits last week, agreeing to pay $1.7 billion. Juul was accused of marketing its products to minors. The e-cig maker will now seek to reach a settlement with multiple attorneys general. In June, the Food and Drug Administration banned Juul from shelves, but later suspended the ban. Still, Juul sales have fallen since then. Last month, Juul was able to secure financing to keep its doors open.
Get in, we’re unionizing. Union Workers at an electric vehicle battery factory in Ohio voted to unionize last week. It’s the first time employees at a non-Big Three electric automaker have unionized. The employees of Ultium Cells, owned jointly by General Motors and LG Energy Solution, opted to join the United Automobile Workers union. President Biden, who has said that he expects the electric vehicle industry to create union jobs in the auto industry, issued a statement praising the vote.
Ready for it? Taylor Swift will reportedly direct her first feature-length film, based on a script she wrote, for Disney. The movie will be produced by Searchlight Pictures, known for producing movies like “Slumdog Millionaire” and “Birdman.” Swift is currently campaigning for an Oscar nomination for her role as director on “All Too Well: the Short Film,” a film based on the ten-minute version of her song “All Too Well.” Nominees for the Oscars will be announced on January 24, 2023.
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