Tuesday newspaper round-up: UK exports, Microsoft/Activision, UBS

(Sharecast News) - Britain has endured the worst exports record of any member of the G7 besides Japan over the last decade, according to a new analysis that will raise pressure on the government to reconsider its post-Brexit trade deal with the EU. As most of the world's other major seven economies have rebounded from the pandemic, export growth has remained sluggish in the UK at a time when businesses trading with the EU faced extra red tape and costs as a result of the country leaving the bloc. - Guardian The Federal Trade Commission asked a court to temporarily block Microsoft's acquisition of Activision Blizzard on Monday, seeking to halt the deal from closing before the government's case against the $69bn deal is heard. The FTC said Microsoft and Activision had signaled the deal could close as soon as Friday, and asked a federal judge to block any final agreement before 11.59pm ET on 15 June. - Guardian

UBS has axed a raft of senior Credit Suisse executives after the bank completed the takeover of its stricken rival. The Swiss lender said that a slew of Credit Suisse's most senior bosses will leave the combined company, while others will take on lesser roles, as UBS asserts its dominance following the historic tie-up. - Telegraph

The Financial Conduct Authority is facing mounting scrutiny of its handling of the Crispin Odey scandal amid pressure from MPs for the City regulator to reveal what it knew about misconduct allegations against the hedge fund manager. Odey, 64, was ousted from his eponymous hedge fund group on Saturday as partners at the firm scrambled to stabilise the business in the face of a series of sexual assault and harassment allegations against its founder. - The Times

One of Silicon Valley's leading venture capital firms has chosen London for its first international office, in a much-needed vote of confidence in the UK's technology sector. Andreessen Horowitz will open a London arm later this year of its crypto practice, which focuses on blockchain technologies and start-ups, managing about £6 billion of committed capital. The office is set to open this year.- The Times