Even a $2.7 billion fine can't hurt Google

The European Commission has fined Google $2.7 billion, but that won't hurt the search giant.

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Even a $2.7 billion fine can't hurt Google

Alibaba’s revenue beats estimates on strong Single Day sales

(Reuters) – Chinese e-commerce company Alibaba Group Holding Ltd reported a better-than-expected 54 percent rise in third-quarter revenue, helped mainly by higher sales during its Single's Day shopping event. Alibaba's revenue was 53.25 billion yuan ($7.67 billion) for the three months ended Dec. 31, compared with analysts' average estimate of 50.10 billion yuan, according to Thomson Reuters I/B/E/S. Revenue from Alibaba's core e-commerce business increased 45 percent, more than the 41 percent jump in the previous quarter. …

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Alibaba’s revenue beats estimates on strong Single Day sales

Amazon offers to scrap e-book clauses to settle EU antitrust probe

U.S. online retailer Amazon has offered to alter its e-book contracts with publishers in a bid to end an EU antitrust probe and stave off a possible fine, the European Commission said on Tuesday. Amazon, the biggest e-book distributor in Europe, proposed to drop some clauses in its contracts so publishers will not be forced to give it terms as good as those for rivals, the Commission said. Such clauses relate to business models, release dates, catalogs of e-books, features of e-books, promotions, agency prices, agency commissions and wholesale prices.

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Amazon offers to scrap e-book clauses to settle EU antitrust probe

Privacy group launches legal challenge against EU-U.S. data pact: sources

By Julia Fioretti and Dustin Volz BRUSSELS/WASHINGTON (Reuters) – A widely expected legal challenge has been filed by an Irish privacy advocacy group to an EU-U.S. commercial data transfer pact underpinning billions of dollars of trade in digital services just two months after it came into force, sources said. The EU-U.S. Privacy Shield was agreed earlier this year after the European Union's highest court struck down the previous such framework for transferring Europeans' private data to the United States on concerns about intrusive U.S. surveillance. Digital Rights Ireland has challenged the adoption of the “Privacy Shield” by the EU executive – which negotiated the pact with Washington – in front of the second-highest EU court, arguing it does not contain adequate privacy protections, several people familiar with the matter said on Wednesday.

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Privacy group launches legal challenge against EU-U.S. data pact: sources

Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

EU antitrust regulators plan to order Alphabet's Google to stop paying financial incentives to smartphone makers to pre-install Google Search exclusively on their devices and warned the company of a large fine, an EU document showed. Google received a copy in April in which the European Commission accused it of using its dominant Android mobile operating system to shut out rivals. The EU competition enforcer in its charge sheet, known as a statement of objections, said it planned to tell the U.S. technology giant to halt payments or discounts to mobile phone manufacturers in return for pre-installing Google's Play Store with Google Search.

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Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

Divided Irish cabinet to meet on whether to fight EU on Apple tax

Ireland's fragile coalition government will try on Friday to overcome cabinet divisions on whether to join Apple in appealing against a multi-billion-euro back tax demand that the European Commission has slapped on the iPhone maker. Finance Minister Michael Noonan has insisted Dublin would fight any adverse ruling ever since the European Union began investigating the U.S. tech giant's Irish tax affairs in 2014.

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Divided Irish cabinet to meet on whether to fight EU on Apple tax

EU to propose minimum spectrum license duration of 25 years

By Julia Fioretti BRUSSELS (Reuters) – The European Commission is to propose that telecom spectrum licenses are granted for a minimum of 25 years to increase investment certainty for operators, under a reform of the bloc's telecoms rules, according to an EU document seen by Reuters. The European Union executive will publish its proposal next month and expects it to be endorsed in 2018. The European Commission has sought for years to coordinate how national governments allocate blocks of airwaves to mobile operators such as Vodafone, Deutsche Telekom and EE in a bid to create a single European telecoms market.

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EU to propose minimum spectrum license duration of 25 years

EU-U.S. commercial data transfer pact clears final hurdle

A commercial data transfer pact provisionally agreed by the EU executive and the United States in February received the green light from EU governments on Friday, the European Commission said, paving the way for it to come into effect next week. Its introduction should end months of legal limbo for companies such as Google, Facebook and MasterCard after the EU's top court struck down the previous data transfer framework, Safe Harbour, on concerns about intrusive U.S. surveillance.

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EU-U.S. commercial data transfer pact clears final hurdle

U.S. tax agency investigates Facebook’s Ireland asset transfer

The U.S. Internal Revenue Service (IRS) said Facebook Inc may have understated the value of intellectual property it transferred to Ireland by “billions of dollars”, unfairly cutting its tax bill in the process, according to court papers. The U.S. Justice Department filed a lawsuit on Wednesday in federal court in San Francisco seeking to enforce IRS summonses served on Facebook and to force the world's largest social network to produce various documents as part of the probe. The tax authority is examining whether Facebook understated its U.S. income by selling rights to an Irish subsidiary too cheaply.

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U.S. tax agency investigates Facebook’s Ireland asset transfer

Tax haven route won’t work for post-Brexit UK, OECD says

Britons will vote on whether to remain in or leave the EU in a referendum on 23 June 2016. Photo/Stanislav Mundil (CTK via AP Images)

By Tom Bergin LONDON (Reuters) – The United Kingdom is unlikely to try to lure international investment by becoming a tax haven after it leaves the European Union, according to an internal memo prepared by the body responsible for the drafting international tax rules. The head of tax at the Organization for Economic Co-operation and Development, which advises developed nations on policy, said the UK could use its freedom from EU rules to slash corporate tax but the political price would be high. “The negative impact of the Brexit on UK competitiveness may push the UK to be even more aggressive in its tax offer,” the OECD’s head of tax, Pascal Saint-Amans said in the memo, details of which were seen by Reuters.

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Tax haven route won’t work for post-Brexit UK, OECD says