Europe’s top court ruled against Apple on Tuesday in the tech giant’s 10-year court battle over its tax affairs in Ireland. The case stems back to 2016 when the European Commission ordered Ireland to recover up to 13 billion euros ($14.4 billion) in back taxes from Apple, CNBC reported.

The European Court of Justice’s decision comes hours after the company unveiled new products to revitalize its iPhone, Apple Watch, and AirPod lineups.

Apple shares were down about 1%.

In a statement, the Irish government said that the Apple case “involved an issue that is now of historical relevance only,” adding that its position has always been that it “does not give preferential tax treatment to any companies or taxpayers.”

Apple said in a filing on Tuesday that it will incur a one-time income tax charge of about $10 billion in its fourth fiscal quarter ending Sept. 28, 2024.

Politico reported the European Commission scored a surprise win against Apple that confirmed its €13 billion back-tax bill for one of the world’s richest companies.

The Court of Justice tossed out a lower court judgement that reversed the Commission’s decision that Apple’s tax arrangements with Ireland were illegal.

“Ireland granted Apple unlawful aid which Ireland is required to recover,” the Court of Justice said on Tuesday. It stressed that its ruling was the “final judgement in the matter.”

This is a massive win for Competition Commissioner Margrethe Vestager’s crusade against “aggressive tax planning,” mostly targeting U.S. multinationals, since previous cases have faltered in the European Union courts.

“It was a win that made me cry because it is very important,” Vestager told a press conference. “It is very important to show European taxpayers that once in a while tax justice can be done.”

The Apple case was part of a slew of probes aimed at how countries like Ireland and Luxembourg offered favorable tax treatment to hook the European headquarters of multinational firms.

ArsTechnica reported Apple has suffered a significant defeat after the EU’s top court ruled that the iPhone maker must pay 13 billion euros in back taxes, overturning an earlier decision in the Big Tech group’s favor.

The ruling relates to a 2016 case when the EU’s competition chief Margrethe Vestager said that Ireland had given the company an illegal sweetheart deal, amounting to a tax rate of less than 1 percent.

The European Court of Justice said on Tuesday in its final ruling that it “confirms the European Commission’s 2016 decision: Ireland granted Apple unlawful aid which Ireland is required to recover.”

A lower court had in 2020 quashed the commission’s order and the ECJ’s decision to overturn that ruling was unexpectedly decisive.

Apple chief executive Tim Cook has previously dismissed the commission’s position as “total political crap.” On Tuesday, the company said the EU was “trying to retroactively change the rules and ignore that, as required by international tax law, our income was already subject to taxes in the US.

In my opinion, this situation seems to be a long time coming. Apple might not like the outcome of the European Court of Justice’s decisions.

It’s almost time: Next week, Apple will show off its new lineup of the iPhone 16 models at its iPhone event on Monday, September 8. And if you plan to get your hands on one of the new devices after the event, we’re here to tell you to save your time because the new iPhones won’t be available to buy yet, Engadget reported.

Apple is pretty consistent when it comes to releasing their new products and we don’t expect that to change this year. We’ll tell you when we expect Apple to release the iPhone 16 after its event. We’ll also let you know when you can expect to download iOS 18 – Apple’s latest software – on your current iPhone.

We don’t know yet how much the iPhone 16 lineup will cost. Currently, the iPhone 15 models start at $799 and range as high as $1,599 for the 15 Pro with 1TB of storage. It will be interesting to see if Apple holds the line on pricing, or plays around with different storage capacities and price points, as it sometimes does.

9TO5Mac reported: We’re just a few days away from Apple’s special event, when the company is expected to announce the new iPhone 16 models. There are a lot of rumors about the new phones out there, but 9TO5Mac has heard more details about what the changes with the new hardware. When it comes to cameras, users can expect improvements such as 4K 120fps video and more.

Reliable sources familiar with the matter have shown us evidence of what’s new in the iPhone 16 Pro’s camera. As previously rumored, the new Pro models will get a new 48-megapixel ultra-wide sensor, and our sources corroborate this information. What’s more, the camera system will be exactly the same between the 16 Pro and 16 Pro Max.

That means that both Pro models will have the tetraprism lens for 5x optical zoom, whereas it’s exclusive to the Pro Max model in the current generation.

CBS News reported: On Monday, Apple is expected to reveal its iPhone 16 models along with other new products, in a live-streamed event called “It’s Glowtime.” The latest generation of iPhones will make what one analysts called Apple’s “biggest upgrade cycle in its history.”

The event is scheduled to take place on September 9, at 1p.m. Eastern time at the tech company’s Cupertino, California, headquarters.

All eyes will be on Apple’s latest line of iPhones, all models of which will be powered by Apple Intelligence — Apple’s response to the generative AI revolution — which will be integrated into iOS 18, according to an announcement Apple made in June on the new AI feature.

Integrated into apps like Mail and Notes, and designed to simplify daily chores like list-writing, “it harnesses the power of Apple silicon to understand and create language and images, take action across apps, and draw from personal context to simplify and accelerate everyday tasks, according to Apple.

In my opinion, I think that people who are already using Apple devices will be pleased with the newly updated versions. It will be interesting to see what the newest iPhones can do.

Apple today announced that Chief Financial Officer Luca Maestri will transition from his role on January 1, 2025. Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook.

As part of a planned succession, Kevan Parekh, Apple’s Vice President of Financial Planning and Analysis, will become Chief Financial Officer and Join the executive team.

“Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company’s financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We’re fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company,” said Tim Cook, Apple’s CEO.

“For more than a decade, Kevan has been an indispensable member of Apple’s finance leadership team, and he understands that company inside and out. His sharp intellect, wise judgement, and financial brilliance make hime the perfect choice to be Apple’s next CFO.”

CNBC reported Apple announced Monday that it will place Chief Financial Officer Luca Maestri on Jan. 1 with current Apple insider Kevan Parekh. 

Maestri will continue to lead teams focusing on IT, security, and real estate development.

Parekh, the incoming CFO, had been a top Maestri lieutenant as the company’s vice president of financial planning and analysis.

Maestri was named Apple CFO in 2014 before the stock began a torrid run, partially powered by strong demand for iPhones. Apple stock is up more than 800% since Maestri became CEO.

During his tenure as finance chief, Apple more than doubled annual sales and net income and expanded its gross margin. In 2014, Apple’s annual sales were about $183 billion. Last year, Apple reported $383 billion in revenue. 

Reuters reported tech giant Apple on Monday named Kevan Parekh as its chief financial officer, replacing company veteran Luca Maestri who will transition from the role on Jan. 1, 2025.

The leadership change comes ahead of Apple’s multiple product launch this fall season, which analysts have called the biggest software upgrade for the iPhone.

It includes artificial intelligence features, which are crucial for Apple as it looks to reverse a slowdown in global sales, particularly in China, and better compete with rivals who have rolled out AI upgrades.

Parekh, who has been with Apple for more than a decade will join the company’s executive committee, most recently served as vice president of financial planning and analysis.

In my opinion, it is not unusual for large companies to shuffle people around as needed. That said, it appears that this transition will take place in January 2025, just a few months from now.

Apple will be unveiling new products on September 10, with the announced phones going on sale on September 20, according to a report from Bloomberg’s Mark Gurman, TechCrunch reported.

That lineup will reportedly include iPhone 16, with larger screens on the Pro models and a new button just for taking pictures. The phones should also support Apple Intelligence, the company’s suite of AI features announced earlier this year.

The event could also include announcements of the Apple Watch Series 10, which will be thinner than past models, with a larger screen, as well as new AirPods, with noise cancellation coming to more models.

Gurman also reported that Apple is planning to update its Macs with the M4 processors, but the new Macs probably won’t be announced until later in the fall.

Gizmodo reported Apple has set the date for its next big hardware release — at least, the company will soon enough. Before Apple has the chance to send out its invites, Bloomberg beat it to the punch and declared Sept. 10 is the date of Apple’s big event.

According to Gizmodo, Apple’s most routinely rumormonger, Mark Gurman, reported based on anonymous sources that the iPhone 16 (and its odd brown hue), along with new AirPods and Apple Watches, will arrive on the second Tuesday of next month. 

It’s the date most people reported on Apple for any length of time already assumed, so its not too big of a surprise. Last year’s iPhone 15 announcement came on Sept. 12, the second Tuesday of the month.

Sept. 10 is the same date proposed by a fake invite that made the rounds earlier this week. It was prompted by a routine leaker who goes by Majin Bu on Twitter. Another tweet by the account @lorevfx claimed they created the invite in Figma using an AI-generated texture and then sent it to the leaker. Apple’s email invites always look so spartan, so it doesn’t take that much know-how to fake one.

9to5Mac reported: According to some new tweets from Mark Gurman, Apple has scheduled a mandatory meeting for all Apple Store employees shortly after the iPhone 16 event, which is expected to take place on September 10th. The meetings are happening on either the evening of September 12th and the morning of September 13th, depending on the store.

Gurman notes that these meetings are on an unusual schedule, since Apple usually holds these meetings on a Sunday rather than during the week. However, it seems Apple will be following a different strategy for this year’s iPhone launch.

In a follow up tweet, Gurman also says that Apple has begun training retail employees on Apple Intelligence, and that he expects it to be a key part of the sales pitch for iPhone 16 at Apple Stores.

In my opinion, I think that there will be a lot of people lining up outside their local Apple Store, hoping to purchase an iPhone 16.