Under60 Daily | 22 July 2020

Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.

[Telecommunications] India’s Supreme Court directs the Income Tax Department to refund INR 833 crore (~$111 million) to Vodafone Idea Limited, assisting the cash-strapped company in boosting its share prices. It is estimated that Vodafone Idea Limited still owes the Income Tax Department an amount in the INR 5,900-6,253 crore (~$844 million) range.

Over60: ET

[Technology] Slack has filed an antitrust complaint against Microsoft under European Union competition law, accusing them of illegally bundling Teams with Office 365 to take advantage of Microsoft Office’s dominance in the market.

Over60: FT, CNBC

[Economy] Brazil unveils tax reform plan, a change welcomed by businesses that have had to deal with one of the world’s most complicated tax systems. A typical UK business spends 100 work hours to fulfil tax obligations. In perspective, 2000 hours is the equivalent time spent in Brazil. 

Over60: FT, Reuters

[Markets] The Singapore Stock Exchange (SGX) and NASDAQ have signed a pact to help smoothen dual listing in the US and Singapore. SGX listings can now be based on filing documents from the SEC, among other aspects. 

Over60: Straits Times, FT

[Business] The Trump administration has committed $1.95 billion for 100 million doses of a potential COVID-19 vaccine from biotech giants BioNTech and Pfizer.

Over60: FT, CNBC

[Private Equity] Silver Lake Partners agrees to buy financial services broker Meilleurtaux for  €700 million ($811 million) from Goldman Sachs. 

Over60: FT

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