European Commission report finds active competition enforcement contributes to affordable and innovative medicines

The European Commission has published a report showing that active competition law enforcement, at EU and national level, in the pharmaceutical sector contributes to delivering more affordable medicines and more choice to patients and healthcare systems, and promotes further innovation. Margrethe Vestager, Commissioner in charge of competition policy, said “Giving European patients and healthcare systems access … Continue reading European Commission report finds active competition enforcement contributes to affordable and innovative medicines

European Commission fines Mastercard €570 million for obstructing merchants’ access to cross-border card payment services

The European Commission has fined the card scheme Mastercard €570 566 000 for limiting the possibility for merchants to benefit from better conditions offered by banks established elsewhere in the Single Market, in breach of EU antitrust rules. Commissioner Margrethe Vestager, in charge of competition policy, said: “European consumers use payment cards every day, when they buy … Continue reading European Commission fines Mastercard €570 million for obstructing merchants’ access to cross-border card payment services

The EU Court of Justice confirms that the Commission’s decision prohibiting the acquisition of TNT Express by UPS must be annulled due to procedural irregularity

Judgement in Case C-265/17 P Commission v United Parcel Service By decision of 30 January 2013, the Commission prohibited the acquisition by UPS of TNT Express on the ground that in 15 Member States that operation would have led to a significant impediment to effective competition on the market for the international express delivery of … Continue reading The EU Court of Justice confirms that the Commission’s decision prohibiting the acquisition of TNT Express by UPS must be annulled due to procedural irregularity

New EU rules to eliminate the main loopholes used in corporate tax avoidance come into force on 1 January

The Commission welcomes the entry into force of new rules to eliminate the most common corporate tax avoidance practices. As of 1 January 2019, all Member States shall apply new legally binding anti-abuse measures that target the main forms of tax avoidance practiced by large multinationals. Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and … Continue reading New EU rules to eliminate the main loopholes used in corporate tax avoidance come into force on 1 January

Auditors publish report on SRB’s, Commission’s and Council’s contingent liabilities

The Single Resolution Board (SRB) and the European Commission should continuously assess their financial risks and accounting thereof, arising from contingent liabilities related to bank-resolution lawsuits as from their 2018 accounts, according to a new report by the European Court of Auditors. The auditors reviewed the possible obligations of the SRB, Commission and Council arising … Continue reading Auditors publish report on SRB’s, Commission’s and Council’s contingent liabilities

Antitrust: European Commission fines Guess €40 million for anti-competitive agreements to block cross-border sales

The European Commission today fined the clothing company Guess €39 821 000 for restricting retailers from online advertising and selling cross-border to consumers in other Member States ("geo-blocking"), in breach of EU competition rules. Commissioner Margrethe Vestager, in charge of competition policy, said: "Guess' distribution agreements tried to prevent EU consumers from shopping in other Member States … Continue reading Antitrust: European Commission fines Guess €40 million for anti-competitive agreements to block cross-border sales

Digital Single Market: New EU rules allow Europeans to shop online without borders

On 3rd of December 2018 the new regulation proposed by the European Commission in May 2016 to end unjustified geo-blocking online will enter into force. Europeans will not have to worry about a website blocking or re-routing them just because they, or their credit card, come from a different country. Wherever they are in the … Continue reading Digital Single Market: New EU rules allow Europeans to shop online without borders