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Dolce and Gabbana found guilty of tax evasion and sentenced to jail Wednesday, 19th June 2013
The controversial tax avoidance case surrounding Italian fashion designers Domenico Dolce and Stefano Gabbana came to a head today, with the pair sentenced to one year and eight months in prison. Despite denying the charges, the pair have been found guilty by an Italian court for hiding hundreds of millions of euros from the tax authorities.
Hermès are set to sue LVMH for stealthy stake acquisition Wednesday, 19th June 2013
Hermès International SCA have confirmed that they will sue rival luxury group Louis Vuitton Moët Hennessy (LVMH) in a bid to annul the equity shares LVMH have acquired. According to French daily Les Echos, Hermès are arguing that LVMH intentionally bought equity swaps in a bid to acquire shares in the handbag specialists.
Just two out of 25 well-known store groups awarded "Fair Tax Mark" Thursday, 13th June 2013
The tax scandal engulfing many of the UK’s retailers rumbles on today, with just two of 25 well-known store groups awarded a “Fair Tax Mark” in a report published Thursday by the Fair Tax Campaign. Tax campaigners have criticised several UK companies in the past few weeks over the way they structure their tax affairs, provoking consumer anger and demand for political action.
Verdict on LVMH and Hermès dispute to be reached by the end of June Monday, 10th June 2013
A bitter dispute between two luxury goods retailers will come to a head in the next few weeks as French authorities will rule whether or not Louis Vuitton Moët Hennessy (LVMH) illegally acquired shares in rivals Hermès. A fine in the region of USD 10 million faces LVMH if they are found guilty of obtaining shares using cash-settlement equity swaps and subsidiaries.
Apple to face trial over e-book price-fixing Monday, 3rd June 2013
Apple Inc are due in court Monday over allegations that it conspired with publishers to bring the price of e-books up. Apple, along with five of the six biggest book publishers in the U.S., had a lawsuit filed against them in April 2012 by the Justice Department which tests the questionable relationship between internet retailers and content providers.
Owner of Asda, Walmart was found guilty and fined $110m Wednesday, 29th May 2013
Wal-Mart pled guilty to criminal charges for dumping hazardous chemicals.
RILA to reject $7.2 billion settlement in Mastercard and Visa legal case Thursday, 11th April 2013
It is reported that Retail Industry Leaders Association (RILA) has announced its intention to reject a 7.2 billion USD settlement with two major credit card brands. The settlement in question was proposed last year as an attempt to end a lawsuit filed eight years ago. The suit alleges that Visa and Mastercard artificially raised the interchange fees used to process transactions.