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Bloomberg Businessweek
Apple, Google Lose Multibillion Dollar Court Fights With EU
Sep 10, 2024
Ed Ludlow, Bloomberg Technology Co-Host, and Ben Steverman, Wealth Reporter, dive into the recent legal defeats for Apple and Google against the EU over massive fines, highlighting the increasing scrutiny on Big Tech. They discuss the implications for tax policies and market dominance. The conversation takes an intriguing turn towards a 'dating recession' fueled by COVID, examining its long-term impact on social behavior. Additionally, they explore the booming trend of electric vehicle leases and the impressive rise of women in leadership roles within business schools.
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Quick takeaways
- Apple's loss in court regarding a €13 billion tax bill signifies the EU's intensified efforts against unfair corporate tax practices.
- The rise of a 'dating recession' reflects pandemic-induced social isolation, impacting long-term relationship milestones and economic commitments.
Deep dives
Impact of EU Tax Rulings on Tech Giants
Recent court rulings from the EU have significant implications for major tech companies, with Apple facing a substantial $14.4 billion tax bill due to illegal tax advantages granted by Ireland. This decision reinforces the EU's stance on maintaining fairness in tax practices among its member states and signals a continued crackdown on corporate favoritism. Meanwhile, Google is dealing with a $2.6 billion fine for abusing its dominant market position, highlighting the EU's rigorous enforcement of antitrust laws. Analysts suggest that while the monetary penalties are noteworthy, the real concern for these companies lies in potential regulatory changes that could fundamentally alter their business practices.
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