EU locks horns with Apple and Ireland in €14.3B tax battle

May23
by on May 23, 2023 at 2:37 pm
Posted In: Uncategorized


The EU is going head to head with Apple and Ireland once again in a high-stakes courtroom battle which could have a lasting impact on how multinational firms are regulated in the bloc.  EU competition regulators appealed to the European Court of Justice in Luxembourg today to override a lower tribunal decision and make Apple pay back Ireland €14.3bn in taxes plus interest.  The case is the most high-profile of EU watchdog chief Margrethe Vestager’s campaign against so-called ‘sweetheart’ deals that offer multinationals favourable tax terms in EU states. According to the Commission lawyer Paul-John Lowenthal, the outcome of the…

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EU fines Meta record €1.2B as feud over data transfers to the US escalates

May22
by on May 22, 2023 at 2:47 pm
Posted In: Uncategorized


In a seminal moment for international data flows, the EU has fined Meta a record-breaking €1.2bn for privacy violations. The penalty is the largest ever for a violation of GDPR, which was introduced to protect personal information. According to EU regulators, Meta broke the rules by transferring user data from the bloc to the US for processing. The Facebook owner made these transfers on the basis of standard contractual clauses (SCCs), which govern the flow of personal data. But an EU investigation determined that SCCs don’t provide enough protection from US surveillance. Andrea Jelinek, chair of the European Data Protection…

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Winds of change: New wind energy tech developed by European startups

May20
by on May 20, 2023 at 12:16 pm
Posted In: Uncategorized


People don’t just fly kites for fun. At a test site near Munich, engineers recently launched an electricity-generating, box-style kite fitted with small, wind-catching rotors. The contraption, tethered to the ground by a hefty cable, flew repeatedly in a predetermined figure of eight — its rotors spinning in the wind. “The wind speed is a couple of times higher than that a conventional wind turbine would see,” says Maximilian Isensee, chief executive of Kitekraft, explaining how the very movement of the kite itself boosts power generation. “That’s why we can get away with much smaller rotors.” The figure of eight…

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5 ways Europe can reduce the risks of AI replacing jobs

May19
by on May 19, 2023 at 6:48 pm
Posted In: Future of Work, Insider


It seems barely a day goes by without a new report of artificial intelligence replacing jobs. On Thursday, BT added the latest bad news, when the UK telecoms giant announced plans to replace 10,000 staff with AI. Across Europe, predictions on automation’s effect on jobs vary wildly,  but all agree that major changes are inevitable. With the impact already being felt, the need for government action is becoming urgent. Here are five interventions they can take. 1. Retraining the workforce The concept of a “job for life,” was disappearing even before AI’s relentless march into the workplace. Increasingly, we’re becoming accustomed to…

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UK’s £1BN semiconductor plan branded ‘disappointing’ by chip sector

May19
by on May 19, 2023 at 3:19 pm
Posted In: Uncategorized


After a two-year wait, the UK has finally announced its semiconductor support plan, aiming to grow the domestic sector, increase its competitiveness, and reduce the risk of supply chain disruptions. But while industry players welcomed the strategy, they also criticised its level of support. Under the new scheme, the government will invest up to £1 (€1.15) billion in the next decade, with an initial £200 million to be deployed in the next couple of years. This amount, however, is dwarfed by similar initiatives in the West. The US has pledged $52bn in subsidies to boost its domestic semiconductor industry, while…

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