US power players and European investment executives

On the day America's White House finally opens its door to the country's most influential man, the Federal Trade Commission (FTC) will vote on whether to allow the creation of world's largest online media company.

The Financial Times reports the efforts of opponents to the AOL/Time Warner merger. Objections to the deal were lodged with the regulatory body yesterday at the last opportunity. Some objectors have been trying to sway members of the five-strong voting panel, pushing for greater concessions from the two companies or an outright block. Those arguing against the deal include consumer groups and smaller ISPs, but Wall Street analysts remain confident of approval. The companies and regulators have twice failed to agree informal concessions to get the merger through. Will it be third time lucky?... Still with Time Warner and the FT, AT&T is expected to confirm tomorrow that it intends to offload its 25 per cent share in Time Warner Entertainment. If the development unfolds, it would net AT&T a figure around the $10bn mark. AT&T is likely to sell in an effort to clear part of its $65bn debt, and as one of the concessions it made in order to continue with the acquisition of MediaOne. Talks have apparently been in process throughout autumn, but have consistently stalled due to an inability to agree a figure for the deal. If confirmed, it will still be spring before the companies bring it to fruition... From one powerhouse to another, The Guardian brings us news of the departure of a top executive from Europ@web. The company, one of Europe's most mighty dot-com venture capitalists, is losing Chahram Becherat, 33, as managing director in a strategic reshuffle. Europ@web is one of French billionaire Bernard Arnault's ventures and Becherat is to take up unspecified responsibilities at another, LVMH luxury good's empire. Under Becherat, Europ@web took stakes in over two dozen dot-com start-ups, including Boo.com, with a £354m fund from its owner. Becherat is to be replaced by former chairman of oil group Elf, Phillippe Jaffre... To round off, let's take stock of some shares. The Financial Times brings us news of Net2Phone shares jumping by 20 per cent yesterday on the back of better-than-expected first quarter results. US chip companies are not faring so well, with slowing orders resulting in a downgrade by Merrill Lynch and Prudential Securities, ending with shares falling across the board. Canadian networking equipment maker Nortel Networks, too, is on the slide as the subject of rumours that fourth quarter results will not meet expectations. Shares fell six per cent yesterday, having already slumped by almost ten per cent on Tuesday...