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"The Commission will continue to look at aggressive tax planning measures under EU state aid rules to assess whether they result in illegal state aid."
Those were the words chosen by European Commissioner Margrethe Vestager , in reaction to the EU court ruling that Apple will not have to pay $16.4 billion in Irish taxes.
For those of you who haven't been "lucky" enough to cover European politics and regulation for as long as me, that's Brussels-Speak for "this ain't over yet." The Commission is expected to appeal. You can read my full story
here.
In other European news, computer games and consoles have given UK inflation a boost. With many people furloughed and the economy weakened by the pandemic, it was expected to remain low and falling. On-demand services on consoles and their users had another idea, clearly.
And as U.S. presidential hopeful **Joe Biden **sets out an ambitious target for a future green energy bill, the UN has called on several major European banks to cease their bloated lending to coal-burning power firms.
For more on energy and the other end of the cycle, take a look at today's graph, which compares energy uses in the top Western and Eastern European nations in April 2019 and April 2020.
Finally, have you been shopping online during the pandemic? Lots of people have, as Simon Mayhew , head of Online Retail Insight at IDG told us. Read the interview highlights below.
Happy reading,
Patrick Atack
Digital business correspondent
**P.S. Did you know we send this briefing by email, too? **
Sign up here
The EU's general court has
handed tech giant Apple a win
by overruling the European Commission's decision to make the U.S. iPhone maker pay backdated taxes. The original case held that Ireland had effectively granted Apple illegal "state aid" by allowing Apple Sales International (ASI) and Apple Operations Europe (AOE) to be based in Ireland without paying tax. Today's ruling overturns that decision, and says the Commission was "wrong to declare that ASI and AOE had been granted a selective economic advantage."
Ivanka Trump, daughter of, and aid to, U.S. President Donald Trump, has sparked a media furore by sharing a picture of herself with Goya beans . It might not seem like a big deal, but Goya's CEO has recently backed her father for a second term, and as
New York Times
correspondent Peter Baker pointed out: "Federal ethics law: 'An employee shall not use or permit the use of his government position or title or any authority associated with his public office to endorse any product, service or enterprise …'"
**Computer games have given UK inflation rate an unexpected boost **amid the pandemic lockdown, new figures have revealed. A Reuters poll had forecast a drop to 0.4 percent but price indexes actually rose to 0.6 percent in June. The UK's national statistics office said on-demand console games and generally good games sales, were one reason for the jump.
In Germany, **non-food retailers have been warned to expect a 22 percent hit **on sales figures, in the scenario that a second COVID-19 wave does not come. The HDE retail association said it was the worst figure since World War II.
Presumptive Democratic presidential nominee Joe Biden has announced a $2 trillion clean energy plan to be rolled out if he wins in November. The former vice-president claimed he would create "millions of good-paying jobs" and "meet the challenges of a world at risk of climate catastrophe."
Meanwhile, European banks including UniCredit, BNP Paribas, Barclays and Société Générale have been chastised by the UN's Intergovernmental Panel on Climate Change for furnishing coal-power producers with millions of dollars in loans. The Panel also named RWE and Uniper of Germany, PGE of Poland, EPH and CEZ Group of Czechia, Enel of Italy, Endesa of Spain and Fortum of Finland as the eight firms responsible for 50 percent of coal-related carbon dioxide emissions in the EU in 2019.
There has been a spending spree in Saudi Arabia's capital Riyadh, as residents took advantage of the last days before the VAT rate was increased from 5 percent to 15 percent. Lower oil prices have hit the kingdom, as it simultaneously battles to reform its economy under the leadership of Crown Prince Mohammed bin Salman.
Japanese car maker Nissan has unveiled a new electric SUV . With its first major new line since the departure of Carlos Ghosn, the firm is looking to take on Tesla and other electric vehicle manufacturers. CEO Makoto Uchida said it symbolized a "new chapter" for the firm.
Costa Rica president Carlos Alvarado said he will implement "the biggest public spending cut in our history" (around one percent of GDP) in his** attempts to secure a $2 billion bailout loan from the International Monetary Fund.**
**Watch: **Valencia is using wastewater samples to control local outbreaks of COVID-19 and is hoping to roll out its system in other cities across the world.
02:09
Simon Mayhew, head of Online Retail Insight at IDG, explains why Ocado and other online retailers are posting such good results.
How has Ocado managed to improve its profit position in the middle of a pandemic?
Ocado has benefited from COVID-19 and the lockdown. In its report, it mentions that basket size has gone up to about 137 pounds [$172]. It's had to restrict the number of shoppers that use the website, focusing on the vulnerable and its most loyal shoppers. And all of that additional volume has made the business more efficient, which is translating into an improved profit position.
Will online shopping and grocery firms be able to make this growth long-term?
Yes. There's no doubt that these new online shoppers will stick with the channel in the future. Satisfaction levels are high. Habits have formed and online offers convenience.
Has this translated to higher sales online all across Europe?
In France, for example, we expect online to be about 5 percent of the market by the end of this year, and it will account for 31 percent of total growth. Whereas in Italy, it might be about 0.7 percent of the total market and only account for 10 percent growth.
Ocado operates at the top-end of the UK grocery market. How are more low-cost sellers going to compete?
Shoppers' needs won't change. I mean, it's got to be about value, price and quality, choice and convenience. And the discount retailers will still be incredibly competitive and everyone will need to be competitive in those areas.
If you're gonna be successful in the future, you need to be able to offer shoppers a seamless offline and online experience.
