Since you want to do business at uni, id go with the EPQ as you can focus that on something business related. although uni rarely include EPQ in their offers, they do look at it; saying that they also rarely include AS levels in offers
Don't make the decision on the basis of UCAS points. If it's a choice between an EPQ and Italian AS (assuming you can achieve very good grades in both) I'd go with Italian without a doubt since languages are very well respected by Universities.