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December 4, 2008 10:55:04 AM CST

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price fixing

price fixing news stories

9 Stories

Cybercops Bust Retailers Whose Deals Are Too Good


Wall Street Journal Wall Street Journal 57 minutes ago
(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 undercut the "MAP," or minimum advertised price. The Supreme Court has ruled that MAPs do not constitute an antitrust violation. More »

More about:  eBay • online retailers • Costco • online shopping • price fixing • retail businesses

 Salt Deficit May 
 Make This Scary 

States order massive amounts of salt, pinching other areas

Los Angeles Times Los Angeles Times Nov 16, 08 5:41 PM CST
(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 some Illinois and Indiana politicos, who have demanded price-fixing probes. More »

More about:  gas prices • snow • winter • salt • price fixing • road safety

Feds Dig Into Price-Fixing by Egg, Tomato Processors

New inquiries add to list of investigations

Wall Street Journal Wall Street Journal Sep 23, 08 3:35 PM CDT
(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 year, while overall food prices have risen only 6%. More »

More about:  FBI • Justice Department • tomatoes • eggs • price fixing • monopolistic practices • federal prosecution • egg

Feds Think Bad Data May Feed Oil Spikes

Broad market probe focuses on price-fixing weak spots

Wall Street Journal Wall Street Journal Sep 4, 08 10:01 AM CDT
(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 that oil is scarce and drive prices higher. More »

More about:  gas prices • oil • oil prices • price fixing • Commodity Futures Trading Commission

ANALYSIS

Retailers Struggle With Ruling That OK'd Price-Fixing

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

Wall Street Journal Wall Street Journal Aug 18, 08 10:57 AM CDT
(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 retailers are fighting back by steering customers toward other brands. More »

More about:  US Supreme Court • antitrust • online retailers • retailing • price fixing

EU Probes Chocolate Price Fixing

Hershey, Mars, others suspected of conspiracy

Associated Press Associated Press Feb 20, 08 6:22 AM CST
(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 say they are cooperating. More »

More about:  Germany • Canada • Mars • conspiracy • European Commission • chocolate • price fixing • candy • Hershey • Nestle • Cadbury Schweppes • Kraft

Chocolate Makers Face Sticky Probe

US and Canada
investigate possible price-fixing

Wall Street Journal Wall Street Journal Dec 20, 07 5:25 PM CST
(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 it is aware of the investigation but has not yet been contacted. Other makers declined comment.   More »

More about:  Department of Justice • antitrust • chocolate • price fixing • Hershey • Cadbury Schweppes • Nestle

2 Airlines Fined $300M
Each for Price Fixing

British Airways and Korean Air both cooperated with the Justice Department

Associated Press Associated Press Aug 23, 07 6:55 PM CDT
(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 scheme. More »

More about:  Department of Justice • airline • British Airways • Virgin Atlantic • price fixing • Korean Air

Airlines Plead Guilty of
Price Fixing

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

Reuters Reuters Aug 2, 07 4:28 AM CDT
(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 to the UK government for discussing fuel surcharges with rival Virgin Atlantic Airways. More »

More about:  airline industry • Department of Justice • antitrust • British Airways • conspiracy • price fixing • Korean Air • planes

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