World Bulletin / News Desk
Apple Inc on Tuesday disputed an order by Italian regulators that the company must clearly offer a free two-year warranty on its electronics or face fines of 300,000 euros ($378,200) and possible temporary closure of its Italian operations.
Italy's antitrust watchdog AGCM has already fined Apple divisions some 900,000 euros for failing to offer the free guarantee, which is obligatory under Italian and European Union law.
The regulator said Monday that Apple, the maker of the iPhone and iPad, had not fully complied with the initial request and threatening the company with new fines.
Apple, which recently lost an Italian court case against the original regulatory decision, said it had launched a new appeal.
"We have appealed the recent decision of the (Italian) court as it was, in our view, based upon an incorrect interpretation of the law," Apple said in a statement emailed to Reuters.
"We have introduced a number of measures to address the Italian competition authority concerns and we disagree with their latest complaint."
On its Italian website, Apple explained it offers a two-year free guarantee on defects existing at the time of delivery plus one additional one-year free guarantee covering defects arising after delivery.
To extend the latter, Apple gives customers the possibility to buy its AppleCare Protection Plan (APP), valid for two or three years, depending on the product.
The AGCM, which believes the information offered by Apple is insufficient, said in its monthly bulletin that Apple was continuing to adopt unfair commercial practices in Italy. It said this could eventually lead to the closure of its Italian operations for up to 30 days.
Apple has 30 days to respond.
The AGCM alleged the information provided by Apple about an extra guarantee plan encourages customers to buy the APP service without clearly explaining that the company is obliged to offer a two-year free warranty.
Eurozone unemployment meanwhile was unchanged at 10.1 percent in August, the Eurostat statistics agency said.
The Organization of the Petroleum Exporting Countries on Wednesday stunned traders by announcing plans to trim collective production by around 750,000 barrels per day.
Millions of people around the world aim to go to college or university in order to land themselves a well paying job at the end but this Business Insider article shows how some don't nearly pay as much as we think
The court said the decision "breached the law" because of procedural flaws, according to a copy of the verdict.
Global economic trend does not augur well for developing countries: UN Conference on Trade and Development report
"We will look carefully at tax rulings issued by Luxembourg to GDF Suez," Vestager said in the Commission statement.
The Bank for International Settlements (BIS) -- dubbed the central bank of central banks -- said a gauge of Chinese debt had hit a record high in the first quarter of the year.
Civil claims involve bank's mortgage activities
Adeosun said that the bonds are expected to go on sale in December, with the proceeds channelled into capital projects.
May also ruled out a new general election anytime soon, saying Britain needed stability following June's referendum vote to pull out of the European Union.
A 2nd airport would put Rwanda on par with its regional peers, as more tourists flock to East Africa
Country GDP shrank by 2.06 percent in second quarter of 2016
Afghan traders worried fruit exports are rotting after two-week border closure
Foreign trade minister says Trans-Atlantic Trade and Investment Partnership negotiations should stop
Overnight lending rate gets cut by 25 points to 8.50 percent; overnight borrowing rate remains unchanged at 7.25 percent