Apple chief Tim Cook says tax ruling 'maddening'
Apple chief executive Tim Cook says the European Commission ruling that Apple should pay billions of euros in back taxes to the Republic of Ireland is "maddening" and "political". He told Irish broadcaster RTE that Apple had not been given preferential tax breaks in Ireland. The EU ruling said Apple had been given €13bn of "illegal" tax benefits. Mr Cook said he was "very confident" the ruling would be overturned on appeal. On Tuesday, the European Commission said Ireland...Google to expand ride-sharing service in San Francisco
Google plans to expand a ride-sharing service in San Francisco using its Waze app, setting up a potential showdown with market leaders Uber and Lyft. Waze gives traffic conditions and driving directions in real time. Since May Google has been running a pilot carpooling service, which uses Waze to connect drivers and passengers near its California headquarters. But by the end of the year anyone in the Bay Area will be able to request a ride, using the Waze app. If successful, Google may look ...Apple facing record bill for Irish tax
Apple could be ordered to pay billions of euros in back taxes in the Republic of Ireland by European Union competition officials. The final ruling, expected on Tuesday, follows a three-year probe into Apple's Irish tax affairs, which the EU has previously identified as illegal. The Financial Times reports that the bill will be for billions of euros, making it Europe's biggest tax penalty. Apple and the Irish government are likely to appeal against the ruling. Under EU law, national tax ...Self-driving taxi trial kicks off in Singapore
Self-driving cars and taxis are the buzz of the industry. Everyone seems to be doing it, trying grab headlines with every step forward or new trial phase. But the real deal always seemed to be still years in the future. Now, here in Singapore, you can in fact hop into a driverless taxi and go for a ride. And it's even free. But hold your horses, it's still only a trial. It does, though, take things a wee bit further than what we've seen from the big car makers, Google or r...Rio Olympics: Nissan has no doubts over sponsorship
The chief executive of Nissan says it was "the right decision" to sponsor the Rio Olympics, despite a slump in Brazilian car sales. Carlos Ghosn said there was a need to build a "much higher awareness" of the company's products in Brazil. When Nissan took the decision to back the Games, the Brazilian market was booming with sales of 3.8 million vehicles a year. But a recession has seen that sales figure tumble to 2 million a year. "Without any doubt it's the right decision, the idea was to g...West Bromwich Albion to be sold to Chinese investment group
West Brom chairman Jeremy Peace has agreed a deal to sell the club to a Chinese investment group led by entrepreneur Guochuan Lai. Former Blackburn chief executive John Williams will replace Peace, who has been chairman for 14 years. "My immediate priorities will be to maintain the club's stable structure, respecting its well-run nature and its heritage," said Lai. "I have no intention of changing the club's ethos." He added: "I believe that we have a competitive team, with the right managem...HSBC profits slide amid 'turbulent period'
HSBC has reported a 29% fall in profits in the first half of the year amid a "turbulent period" for the banking giant. It posted a pre-tax profit of $9.7bn (£7.2bn) for the first six months, down by $3.9bn. HSBC also announced a share buyback of up to $2.5bn in the second half of this year. In a statement, HSBC described the weak numbers as a "reasonable performance in the face of considerable uncertainty". For the second quarter, pre-tax profits were $3.1bn, down from $6.1bn for ...Pokemon Go makers face trespassing lawsuit
A lawsuit has been filed against the makers of Pokemon Go over players trespassing on private property. A man in the US said strangers started lingering outside of his home with at least five people knocking on his door. The first suit against game makers Niantic, Nintendo, and The Pokemon Company seeks class action status for others who have had Pokemon stops and gyms placed on their property. Released on 6 July, the smartphone game has become a global phenomenon. The lawsuit accuses the de...South Korea suspends sale of 80 Volkswagen models
South Korea has suspended sales of 80 Volkswagen models and fined the German carmaker over allegations the firm rigged emissions test data. Volkswagen will be fined 17.8bn Korean won ($16m; £12m), in addition to a 14bn won fine from last year, the ministry of environment said. Europe's largest carmaker admitted last year that it had falsified emissions datain its diesel vehicles. The firm has since suffered a global setback in sales and reputation. The sales ban in South Korea aff...Uber sells Chinese business to Didi Chuxing
Taxi-booking app Uber has agreed to sell its business in China to rival Didi Chuxing. Uber's China business will retain its separate branding, and Uber's global business will receive a 5.9% stake in the combined company, Didi Chuxing said. Uber China launched in 2014 but so far has failed to make any profit. The two companies have been fierce competitors for years, but Didi Chuxing dominates the market. Didi Chuxing says it provides more than than 14 million journeys a day and claims to have...Saatchi boss Kevin Roberts disciplined over gender comments
The chairman of advertising agency Saatchi and Saatchi has been put on leave for saying the debate on gender bias in the industry is "all over". British-born Kevin Roberts told Business Insider he did not think the lack of women in leadership roles "is a problem" in the advertising industry. The head of the company's parent group, Publicis, said it would not tolerate anyone who did not value inclusion. The group said its board would decide whether to take further action. ...Hinkley Point: EDF's UK boss 'confident' of go ahead
The boss of EDF in the UK says he is "confident" a new nuclear power station will be built at Hinkley Point, despite the government delaying its decision. In an open letter to staff, Vincent de Rivaz said he regretted the uncertainty for employees, the local community and suppliers to the £18bn Somerset site. But he said he understood why the new UK cabinet needed a "little time". The government said it was "only right" to review such a significant deal and it would decide by the autumn...Amazon boss Bezos becomes world's third richest
Strong earnings from Amazon and a boost to the company's stock have made its founder, Jeff Bezos, the world's third richest person, according to Forbes. Mr Bezos owns 18% of Amazon's shares, which rose 2% in trading on Thursday. Forbes estimated his fortune to be $65.3bn (£49.5bn). Amazon's revenue beat analysts' expectations, climbing 31% from last year to $30.4bn in the second quarter. Profit for the e-commerce giant was $857m, compared with $92m in 2015. According to Forbes est...UK economic growth sped up in Brexit run-up
The UK economy grew 0.6% in the three months to the end of June, a period that ended one week after the vote to leave the European Union. Growth in gross domestic product was stronger than expected in the quarter, and was up from 0.4% growth in the previous three months, the Office for National Statistics (ONS) said. Any uncertainty ahead of the referendum seemed to have a "limited" effect, the ONS said. On an annual basis, growth was 2.2%. ONS chief economist Joe Grice said: "Continued...
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