Amazon Faces Ruling on $300 Million EU Tax Appeal

The European Union's second-highest court is set to decide whether to uphold a roughly $300 million tax bill that the bloc's antitrust officials have said Amazon.com Inc. owes to Luxembourg.

 
SoftBank Reports Highest-Ever Annual Profit For a Japanese Company

SoftBank Group smashed profit records in its home country, riding a series of blockbuster IPOs to an annual net income of $45.9 billion-the highest ever for any Japanese company.

 
Pentagon to Remove China's Xiaomi From Blacklist After Lawsuit

The Defense Department has agreed to remove Xiaomi from a list banning U.S. investment in the Chinese tech giant.

 
Boeing Says 737 MAX Supplier Tect Driven to Bankruptcy by Owners

Boeing said that in return for providing roughly $60 million in bankruptcy financing, it deserves a stake in possible commercial tort claims against Tect's directors and officers for potentially breaching their fiduciary duties to the company, which filed for chapter 11 protection last month.

 
Occidental Petroleum Climbing Out of Its Anadarko Hole

Occidental's first-quarter results show long-term investors hope for returns-even if that is sometime in the distant future.

 
Michigan Threatens Enbridge's Profits in Great Lakes Pipeline Dispute

Gov. Gretchen Whitmer and Daniel Eichinger, director of Michigan's natural resources department, remind the company in a letter that the state revoked a permit that allowed the Line 5 pipeline to run along the bottom of the Straits of Mackinac.

 
Mortgage Lender Better to Go Public in SPAC Deal

The digital startup would merge with Aurora Acquisition and raise nearly $800 million in new capital.

 
Commerzbank Upbeat on Outlook After Surprise First-Quarter Profit

Commerzbank lifted its revenue outlook for the year after posting an unexpected profit of EUR133 million for the first quarter, supported by a strong top line and lower provisions.

 
ABN AMRO Confirms Modest Loss, Money Laundering Fine Weighs

ABN AMRO posted a net loss of EUR54 million for the first quarter, as previously flagged, after booking a EUR480 million charge related to an anti-money-laundering probe.

 
Hapag-Lloyd Cites Higher Demand, Rates For Strong Start to Year

Hapag-Lloyd said its first quarter profits and revenues surged thanks to high demand and freight rates and confirmed the positive earnings trend is likely to continue over the next three months, with a gradual normalization in the second half of the year.

(END) Dow Jones Newswires

May 12, 2021 05:15 ET (09:15 GMT)

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