The European Commission has ruled that Ireland must recover up to AED 52 billion in back taxes from Apple. After a three year long investigation they concluded that the US firm’s tax benefits were illegal. The Commission said Apple was coughing up substantially less than other businesses, in effect paying a corporate tax rate of 1%. Ireland has responded saying they profoundly disagree with the ruling.
Novo's next-gen obesity drug candidate trial disappoints
Novo Nordisk on Friday revealed disappointing results in a late-stage trial for its experimental next-generation obesity drug CagriSema, wiping as much as $125 billion off its market value.
Amazon workers to strike at US warehouses during busy holiday season
Thousands of Amazon.com workers in the US will walk off the job on Thursday, in the crucial final days of the holiday season, after union officials said the retailer failed to come to the bargaining table to negotiate contracts.
H.H Sheikh Mohammed issues new laws to enhance Dubai’s media sector
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has introduced Law No. (29) of 2024, which grants the Dubai Media Council expanded powers to further develop and regulate the emirate’s media sector.
Honda, Nissan in talks to set up holding company
Japanese auto giants Honda and Nissan are in talks to set up a holding company, according to a person with knowledge of the matter, a move that would allow them to share more resources amid competition upending the global industry.
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