Ex-Zynga execs raise $15 million for their new gaming studio, Manticore Games

 In the eight years since Frederic Descamps and Jordan Maynard launched their last gaming startup, the industry they helped shape now brings in more than $100 billion in revenues globally. There’s been a resurgence in gaming on PCs. User-generated content has produced a string of wildly popular hits. Those trends are exactly what the two are hoping to harness with Manticore Games. Read More

Amazon to start selling Apple TV, Google Chromecast

(Reuters) – Amazon.com Inc will start selling Google Chromecast and Apple TV, which compete against its Fire TV, on its online store, an Amazon spokeswoman told Reuters on Thursday.

Shanghai seen replacing Paris as global growth center by 2035

Shanghai will replace Paris in the top five list of global city economies by 2035 in a sign the balance of the world’s economy is shifting east, according to an Oxford Economics study.

The top 780 cities in the world, which already produce almost 60 per cent of global activity, will add almost half a billion more people and US$32 trillion in output over roughly the next couple of decades, Mark Britton, an economist at Oxford Economics, writes in a research note published this week. 

The eye-popping headline figures mask significant disparities between cities studied, Britton wrote. Among the big winners: emerging Asia, with three other Chinese cities entering into the top 10: Beijing, Guangzhou, and Tianjin.

“The world’s urban center will continue to shift eastwards, particularly as growth in a number of cities in the West is likely to be constrained by aging, and in some cases, declining, population,” Britton wrote.

The changing power balance is shown by the forecast that the combined output of Asian cities will overtake that of urban centers in Europe and North America in about a decade, according to Britton. A decade ago, the cities in the West claimed twice the aggregate GDP of those in Asia. 

Growth estimates

Non-Chinese Asian cities will also post impressive growth, with places like Mumbai and Kuala Lumpur adding US$4.7 trillion in GDP through 2035. But China’s urban star power will increase by about US$14 trillion over that period, and 15 of its cities will join the top-100 rankings, on top of 18 already on the  list. 

The estimates are based on constant 2015 prices and exchange rates.

Two cities in Latin America – Santiago and Rio de Janeiro – will drop out of the top-100 rankings, and while the Middle East looks to be making gradual improvement, cities there could get a boost if development plans like Saudi Arabia’s are implemented. There will be rapid urbanization in African nations, but it will take time for that to translate into big economic gains, Britton estimates.

That challenge for policy makers – leveraging their populations to spur the economy – could make or break some of these cities, Britton warned.

“Rapid population growth in emerging cities requires considerable management to ensure the infrastructure can accommodate the additional people,” he wrote. “This includes the provision of adequate housing, support services and transport networks, whilst also developing and maintaining the city as an attractive place to live and work.”


House Speaker Ryan mulls retirement after 2018 elections: Politico

WASHINGTON (Reuters) – Republican House Speaker Paul Ryan has told confidants he would like to retire after the 2018 congressional elections, Politico reported on Thursday, but the Wisconsin lawmaker and an aide played down the report, saying he wasn’t quitting any time soon.

Court reverses Dell buyout ruling that alarmed dealmakers

WILMINGTON, Del. (Reuters) – Delaware’s Supreme Court ruled on Thursday that a lower court erred in finding that the 2013 buyout of computer maker Dell Inc was vastly underpriced, in an opinion that will likely restrict a hedge fund strategy aimed at wringing cash from mergers.

State attorneys general line up to sue FCC over net neutrality repeal

Attorneys general from “across the country” will sue the Federal Communications Commission in an attempt to reverse today’s repeal of net neutrality rules.

“Today, I am announcing my intention to file a legal challenge to the FCC’s decision to roll back net neutrality, along with attorneys general across the country,” Washington State Attorney General Bob Ferguson said. “We will be filing a petition for review in the coming days. Allowing Internet service providers to discriminate based on content undermines a free and open Internet. Today’s action will seriously harm consumers, innovation, and small businesses.”

New York Attorney General Eric Schneiderman is leading the multi-state effort.

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Putin, Trump discuss bilateral relations, Korean Peninsula situation: Kremlin

MOSCOW (Reuters) – Russian President Vladimir Putin and U.S. President Donald Trump discussed bilateral relations and situation in the Korean Peninsula during a telephone call, the Kremlin said in a statement early on Friday.