It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street. Don't miss a minute of the action. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanillo and Jim Kramer at the New York Stock Exchange. David Faber is going to join us in a moment. Pre-market giving back some of yesterday's rally as we dive into some consumer names today. At least five Fed speakers after Chair Powell's remarks on inflation

on Tuesday as well. Our roadmap that's going to begin, though, with trouble in deal land.

British regulators say Microsoft's Activision takeover could harm gamers. Plus the consumer

checkup, Chipotle sees customers pulling back, Uber with its strongest quarter ever. And

Young brand CEO, David Gibbs, is going to join us exclusively this hour.

And then both Zoom and eBay joined the ranks of tech companies announcing some significant

layoffs.

Let's begin, though, with Microsoft Activision.

The UK's Competition and Markets Authority says its investigation found that a merger

between the two would stifle

competition and harm gamers. The antitrust watchdog expressing concerns about cloud and console

gaming. Microsoft says it is committed to assuaging the regulator's concerns while Activision

says it hopes it'll be able to help the CMA better understand the industry, Jim, continued pushback on all this regulatory pressure. Yeah, this deal is going to fail. And I think we all have to own it yesterday. Bobby Codick put up a spirit of defense. But look, they don't like the deal. I mean, this is like the Simon Schuster deal they didn't like. These regulators are different now, whether they're Britain or here. They just think that everybody's

a loser want a combination who's not a shareholder. And Britain's no different from us. They feel

that this hurts gamers. Now, to some degree, it's almost impossible to believe that this is happening.

The gamer class has to be protected.

I mean, of the different groups that need to be protected, I'm putting the gamers not

very high.

But they might, I mean, it's, you know, the writers in the Simon Schuster, here's the gamers,

less choice.

But I think that the companies in this country, and they have to start recognizing that

regulators don't like deals, whether it be the Russians with the DuPont Rogers deal or this,

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