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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 ...