Apple lost its court fight over a €13 billion ($14.4 billion) Irish tax bill. The EU’s Court of Justice in Luxembourg backed a landmark 2016 decision that Ireland broke state-aid law by giving the iPhone maker an unfair advantage. The court ruled on Tuesday that a lower court win for Apple should be overturned, because judges incorrectly decided that the commission’s regulators had made mistakes in their assessment. The same court backed a once-record €2.4 billion ($2.6 billion) EU fine for Google abusing its monopoly power to crush rival shopping services. The landmark 2017 decision found the US tech giant illegally leveraged its search-engine dominance to give a higher ranking to its own product listings.
Today’s guests: Grace Peters, JPMorgan; Pascal Soriot, Astrazeneca CEO (Source: Bloomberg)