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NEWS ABOUT: price fixing

Italy Raids Pasta Makers in Price-Fixing Probe

Companies accused of colluding to drive prices up 36%

(Newser) - Financial police have searched the offices of Italy’s top five pasta makers to investigate claims that they’ve rigged the price of rigatoni—and you know, other pasta, too (rigatoni was just alliterative). The investigation has been ongoing since 2007, after consumer groups complained that prices were up as... More »

Cybercops Bust Retailers Whose Deals Are Too Good

(Newser) - Manufacturers have gone on the offensive to stop discounters from selling their products for less than the minimum advertised price they set, reports the Wall Street Journal. But companies like eBay and Costco are pushing for laws to ban the minimum prices. Some retailers, like Circuit City, use workarounds to... More »

Salt Deficit May Make This Scary

States order massive amounts of salt, pinching other areas

(Newser) - City officials in the Midwest are struggling to prepare for another season of heavy snowfall as road salt supplies drop and prices surge, the Los Angeles Times reports. High demand and once-high gas charges have boosted salt prices, but the spike from $40 to $140 per ton seems exorbitant to... More »

Feds Dig Into Price-Fixing by Egg, Tomato Processors

New inquiries add to list of investigations

(Newser) - The Justice Department is investigating allegations of price-fixing by tomato and egg processors, the Wall Street Journal reports today. California processor SK Foods is facing allegations it bribed buyers at six companies to pay inflated prices for tomato paste and chili peppers. Tomato prices have surged 16% over the past... More »

Feds Think Bad Data May Feed Oil Spikes

Broad market probe focuses on price-fixing weak spots

(Newser) - Commodity regulators, worried that some companies are manipulating crude oil prices by reporting false numbers on supplies and sales, are conducting a wide-ranging probe focused on energy traders, the Wall Street Journal reports. Sources say a big worry is that firms are falsely reporting oil inventories to create the perception... More »

Retailers Struggle With Ruling That OK'd Price-Fixing

Enabling manufacturers to set minimum prices leads to collusion, some say

(Newser) - A Supreme Court ruling that last year allowed manufacturers to set minimum sale prices for their goods is giving retailers fits, the Wall Street Journal reports. Manufacturers, barred from the practice for nearly a century, are being allowed to punish retailers who discount their products by cutting off supplies. Some... More »

EU Probes Chocolate Price Fixing

Hershey, Mars, others suspected of conspiracy

(Newser) - The European Commission suspects candy giant Hershey of conspiring with other chocolate and candy manufacturers in an industry-wide price-fixing scheme, AP reports. Both Hershey and rival Mars recently received requests for information from the commission after some 50 civil lawsuits in the US have alleged price fixing. The two companies... More »

Chocolate Makers Face Sticky Probe

US and Canada investigate possible price-fixing

(Newser) - Following a similar investigation in Canada last month, the Justice Department has launched a probe into possible price-fixing in the US chocolate industry. The suspects form a rich, creamy lineup: M&M maker Mars acknowledged it has been contacted by the DOJ, the Wall Street Journal reports. Nestle, too, says... More »

2 Airlines Fined $300M Each for Price Fixing

British Airways and Korean Air both cooperated with the Justice Department

(Newser) - A US judge has fined British Airways and Korean Air $300 million apiece for conspiring to fix prices. Both carriers had their fines reduced—British Airways could have faced a fine as high as $900 million—after pleading guilty and cooperating with the Justice Department investigation into a global price-fixing... More »

Airlines Plead Guilty of Price Fixing

British Airways and Korean Air socked with $300M fines in ongoing investigation

(Newser) - British Airways and Korean Air have agreed to plead guilty and pay $300 million each in criminal fines for engaging in massive conspiracies to fix the prices of passenger and cargo flights for the past six years, the US Justice Department said yesterday. BA will pony up another $247million fine... More »

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