Amazon tax fight in Supreme Court
Jeff Bezos’s Amazon is taking a high-stakes legal battle to the US Supreme Court, hiring one of Washington’s most prominent lawyers Ted Olson to fight the taxation of its shoppers in New York state. Amazon wants the court to review a case about the most incendiary political issue in American retail: the complaint by bricks-and-mortar stores that online rivals gain an unfair advantage because they do not have to charge sales tax.
Nintendo cuts prices in console wars
Nintendo is preparing for new competition from Microsoft's Xbox One and Sony’s PlayStation 4 by cutting its console prices, shaving $50 from the cost of its struggling Wii U and releasing a new, cheaper gaming handheld. The new 2DS device, which will sell for $130 when it is launched in the US in October, makes Nintendo the latest console company to move away from 3D gaming, despite improving sales in recent months for the $170 3DS.
Cemex buys Holcim assets swap
Cemex, the largest cement maker in the Americas, yesterday said it would be swapping assets in Germany and the Czech Republic with Holcim of Switzerland and the two companies are teaming up under Mexican management in Spain in a drive to boost performance in tough European markets.
City Temple considers plan for hotel
A nonconformist temple said to have been founded by the preacher Thomas Goodwin in 1640 and renowned as the oldest free church in the City could be in line for redevelopment. Leaders at the City Temple are mulling plans to invite developers to overhaul the building.
Move to lift Puma helicopter ban stalls
A row has broken out over the lifting of a ban on Super Puma helicopters in the North Sea after a meeting of the industry’s safety group broke up without agreement. The meeting was convened to review the suspension of Super Pumas in the wake of last week’s crash.
The Daily Telegraph
Growth fund backs toiletries firm
A Scottish luxury toiletries firm which narrowly avoided collapse in 2009 has secured a £2.8m investment from a fund backed by all of the major high street banks. Arran Aromatics is the latest company to receive support from the Business Growth Fund (BGF).
Cutting empty shop tax could fuel jobs
Andrew Perloff, the chairman of property investment company Panther Securities, has accused the Government’s practice of charging business rates on empty properties of preventing thousands of Britons from starting their own businesses.
THE WALL STREET JOURNAL
Switzerland and the US in bank talks
A senior US Justice Department official said the US is in talks with Switzerland about a comprehensive plan that would allow the country’s banks to settle with US authorities over possible assistance given to US tax evaders.
Panel to review Nasdaq outage
The industry group overseeing the Nasdaq data feed at the center of last week's three-hour trading outage plans to meet next week to dissect the breakdown. US stock and options exchanges, regulators and other industry officials plan to hold a conference call next Wednesday.