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Tax and the City Review - September 2024 Mike Lane and Zoe Andrews discuss the Supreme Court’s judgment in Centrica (deductibility of management expenses); the Upper Tribunal’s decision in UBS (PAYE: judicial review of HMRC’s decision not to exercise discretion); what a Labour government might m... Sustainable finance re-examined During the course of 2023, doubts about the benefits of ESG-labelled debt (otherwise known as “ESG fatigue”) became increasingly prevalent among finance and treasury teams. This year, we have seen these doubts translate into action. A number of larger cor... Competition and Regulatory Newsletter: European Court of Justice deals blow to European Commission’s Article 22 referral policy in landmark Illumina/GRAIL case On 3 September 2024, the European Court of Justice handed down its long-awaited judgment in the Illumina/GRAIL appeal. In a pivotal development, the Court held that the European Commission had no jurisdiction to review Illumina’s acquisition of GRAIL unde... Competition and Regulatory Newsletter: The way forward: Commission sets out vision for EU’s future competition policy with nomination of Teresa Ribera as new EU Competition Commissioner Teresa Ribera Rodriguez has been nominated for the post of Executive Vice-President of the European Commission for a Clean, Just, and Competitive Transition. In this newsletter, we consider Ms. Ribera’s background, what her nomination signals for the futu... Reflections on the draft Article 102 guidelines: Bringing clarity or creating room to manoeuvre? Overview On 1 August 2024, the European Commission published draft guidelines on exclusionary abuses of dominance. Their stated purpose is to increase legal certainty for firms, national courts and national competition authorities by setting out how ... Ten Questions on the Apple Judgment On 10 September 2024, the CJEU surprised most observers by issuing a final judgment in the Apple State aid case. The judgment endorses the position taken by the European Commission back in 2016, in a way that seems hard to square with other judgments issu... Competition and Regulatory Newsletter: e&/PPF Telecom deal receives conditional clearance following first in-depth merger review under Foreign Subsidies Regulation On 24 September 2024, following the first in-depth review of an M&A transaction under the Foreign Subsidies Regulation, the European Commission announced that it has conditionally approved the acquisition by Emirates Telecommunications Group Company P... The IA's updated Principles of Remuneration On 8 October 2024, the Investment Association (‘IA’) issued an update to its existing Principles of Remuneration (the ‘Principles’). The update re-iterated that the Principles are not prescriptive rules, but guidelines seeking to foster good practice and ... Competition Law in the Digital Age - October 2024 Our Competition Law in the Digital Age newsletter is intended to provide insights on modern-day competition law developments in a bite-sized format. This edition covers the Illumina/GRAIL ECJ judgment, the French AI opinion, the Spanish Apple probe, the G... The Future of Stadium & Arena Development Although the UK construction market is well versed in the delivery of complex and often world leading development projects, stadia and arenas are uniquely challenging. They are emotive and transformational projects for clients, the con...