Fintech group ION, led by founder Andrea Pignataro, will pay 280 million euros to settle a tax dispute with Italian authorities, who initially sought 1.26 billion euros. The investigation focused on alleged tax evasion between 2013 and 2023, stemming from changes in Italian tax rules for foreign-controlled companies.
ARTISAN PARTNERS-CHINA/FUNDS (CORRECTED)CORRECTED-US investment firm Artisan Partners to liquidate China portfolio by end-June
The Philippines will allow Indian nationals to enter visa-free for tourism starting June 8, aiming to increase Indian tourist arrivals, which grew by 12% this year. Indian citizens can stay up to 14 days without a visa. Those with valid visas from specific countries like the US, Australia, and Schengen countries can stay up to 30 days.
The Trump administration has asked the Supreme Court to allow the dismantling of the Department of Education, a move challenged in court by states and unions. A judge ordered the reinstatement of terminated employees and halted the transfer of student loans and special needs programs. The administration's request to pause the injunction was previously rejected by an appeals court.
The Swiss government is proposing stricter regulations for UBS following its Credit Suisse takeover, potentially requiring an additional $26 billion in core capital. This move aims to fully capitalize foreign units, a measure UBS fears will hinder its competitiveness.
Nippon Steel and the Trump administration have jointly requested a U.S. appeals court to prolong the suspension of their legal battle by eight days, aiming to finalize an agreement that would enable Nippon Steel to proceed with its $14.9 billion acquisition of U.S. Steel.
Amazon will intensify its efforts to combat fake reviews. This includes penalizing British businesses involved in boosting ratings with bogus posts. The Competition and Markets Authority secured these commitments after a four-year investigation. Amazon will also address catalogue abuse. Companies breaking rules could face a ban from the platform. Users posting fake reviews may also be banned.
The US Supreme Court has dismissed Mexico's lawsuit against American gun companies. Mexico accused them of aiding illegal gun trafficking to cartels. The court cited a 2005 law protecting gun firms from liability. Mexico's Foreign Ministry expressed disappointment but vowed to continue the legal fight. Gun control groups criticized the ruling.
A federal appeals court upheld a judge's order blocking the Trump administration's plan to dismantle the Education Department and reinstate terminated employees. The court rejected the administration's request to halt the injunction, which followed mass layoffs announced by Secretary Linda McMahon.
A US appeals court declined Apple's request to pause an order. The order requires Apple to open its App Store to more competition. This follows an antitrust lawsuit by Epic Games, the maker of Fortnite. Judge Yvonne Gonzalez Rogers previously found Apple in contempt. Apple expressed disappointment and plans to continue its appeal.
A U.S. judge has allowed healthcare providers to pursue claims against MultiPlan and major insurers like UnitedHealth, Aetna, and Cigna. The lawsuit alleges a conspiracy to underpay billions in out-of-network reimbursements. The court found plausible evidence of price-fixing through the sharing of sensitive pricing information, despite denials from MultiPlan and the insurers.
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