BT FRAUD TRIAL DATE SET

A judge in Milan on Tuesday decided there were grounds for a trial of the Italian unit of British Telecom and 21 defendants, including three former senior BT executives, in an accounting scandal case, judicial and legal sources said. The trial has been set for Jan. 26, 2021 before the Milan court, the sources said. All the defendants were indicted for alleged false accounting committed in 2015 and 2016. SOURCE: reuters.com

FORMER GOOGLE BOSS EYES EUROPEAN CITIZENSHIP

Ex-Google CEO Eric Schmidt is reportedly obtaining citizenship in the European country of Cyprus, per a Recode report, a move that will allow him to travel to the European Union and possibly reap tax benefits. The specific reason for Schmidt’s citizenship application is unclear, but it could be to have a financial backup plan during the pandemic or as part of a wider business strategy. The world’s wealthiest have reportedly been taking part in so-called “passport-for-sale” programs that allow them to skirt foreign national laws and travel bans brought on by the pandemic. SOURCE: businessinsider.com

AIRBNB IN LEGISLATORS’ SIGHTS

Airbnb could be among the targeted platforms when the European Union presents a raft of tougher regulations targeting tech companies next month. The European Commission, the executive arm of the EU, is due to propose a Digital Services Act package in early December. The wide-ranging regulation will look to ensure that smaller companies are not prevented from entering and being part of the European market at a time when concerns grow over whether certain multinationals have become too dominant. SOURCE: cnbc.com

ANOTHER BLOW TO AMAZON

EU antitrust regulators on Tuesday charged U.S. retail giant Amazon with distorting competition in online retail markets and also opened a second investigation into its e-commerce business practices. “The Commission takes issue with Amazon systematically relying on non-public business data of independent sellers who sell on its marketplace, to the benefit of Amazon’s own retail business, which directly competes with those third party sellers,” the European Commission said in a statement. SOURCE: Reuters

FILE PHOTO: Reuters