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Antitrust

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  • BERLIN, March 26- European Union regulators plan a year-long investigation into ecommerce to help remove barriers to cross-border trade in the 28- nation bloc, the EU's antitrust chief said on Thursday. European Competition Commissioner Margrethe Vestager said she decided to launch the inquiry because such hurdles were hampering the growth of online...

  • Why low oil prices don't make airfare cheaper Tuesday, 24 Mar 2015 | 11:39 AM ET
    An American Airlines ticket counter in Miami.

    The airline industry is increasingly looking like an oligopoly. For proof, look no further than airline ticket prices. New York Times reports.

  • SAO PAULO, March 20- Brazil's antitrust regulator has secured the cooperation of some engineering firms and executives in the first leniency agreement arising from a bribery scandal at state-run Petrobras, the agency said on Friday. The dozens of companies investigated by various agencies in the multibillion-dollar Petrobras scandal have urged Brazil's...

  • SAN FRANCISCO, March 19- Key staff members at the U.S. Federal Trade Commission were in favor of suing Google Inc for violating antitrust rules before the agency settled its investigation in 2013, according a confidential report cited by the Wall Street Journal on Thursday. The report recommended suing Google for several of its business practices.

  • SAN FRANCISCO, March 19- Staff at the U.S. Federal Trade Commission were in favor of suing Google Inc for violating antitrust rules before the agency settled its investigation in 2013, according a confidential report cited by The Wall Street Journal on Thursday. The report recommended suing Google for several of its business practices. The FTC settled its...

  • BRUSSELS, March 17- European Union antitrust regulators have extended their deadline for a decision on General Electric's 12.4 billion euro bid for Alstom's power equipment business after a request from the U.S. group. The European Commission, which opened a full-scale investigation last month on concerns that the deal could result in price increases, will...

  • *UBS settles U.S. currency lawsuit for $135 million. ZURICH, March 13- UBS AG on Friday lowered its previously reported net profit for 2014 after reaching a $135 million settlement of litigation in which investors accused Switzerland's largest bank of colluding with rivals to rig the foreign exchange market. The $135 million settlement resolves antitrust...

  • ZURICH, March 13- Swiss bank UBS revised down net profit for 2014 after agreeing a settlement in a U.S. antitrust lawsuit, in which investors accused banks of collusion in the $5.3 trillion- a-day foreign exchange market. "The principal change arose due to an increase in charges for provisions for litigation, regulatory and similar matters of 134 million francs,"...

  • ZURICH, March 13- Swiss bank UBS has revised down its fourth-quarter net profit by 105 million Swiss francs, primarily because it increased litigation provisions to 3.05 billion francs. JPMorgan Chase& Co, the largest U.S. bank, in January agreed to pay $99.5 million to settle its portion of the antitrust lawsuit. UBS also said in its annual report that the bank paid...

  • NEW YORK, March 4- A U.S. judge has dismissed antitrust litigation accusing a variety of Wall Street banks and commodity merchants of conspiring to drive up aluminum prices by reducing supply. District Judge Katherine Forrest in Manhattan rejected claims brought by aluminum purchasers against several defendants including Goldman Sachs Group Inc, JPMorgan...

  • NEW YORK, March 4- A U.S. judge dismissed antitrust litigation accusing the parent of the London Metal Exchange, the large mining company Glencore Plc and two other foreign defendants of being part of a conspiracy among Wall Street banks and commodity merchants to drive up aluminum prices by reducing supply. District Judge Katherine Forrest in Manhattan ruled...

  • Altice seeks EU okay with concessions for Portuguese deal Thursday, 26 Feb 2015 | 12:07 PM ET

    BRUSSELS, Feb 26- Telecoms group Altice has offered concessions in an effort to gain European Union antitrust approval for its 7.4 billion euro bid for the Portuguese assets of Brazil's Grupo Oi, the European Commission said. Altice's founder, Franco-Israeli telecoms entrepreneur Patrick Drahi, has expanded his portfolio of cable and mobile telecoms...

  • Feb 25- Dollar Tree Inc posted better-than-expected quarterly sales on Wednesday and said it expected to reach an agreement with the U.S. antitrust regulator by early March on store divestitures to get approval for its acquisition of larger rival Family Dollar Stores Inc.. Dollar Tree said it remained confident it would not have to divest more than 300 stores...

  • Dollar Tree's quarterly sales rise about 11 pct Wednesday, 25 Feb 2015 | 7:43 AM ET

    Feb 25- Dollar Tree Inc's quarterly sales rose about 11 percent, helped by higher demand for party supplies, household products and food during the holiday season. Dollar Tree said this month that the U.S. antitrust regulator was reviewing more than 500 stores for divestiture. The company's net income fell to $206.6 million, or $1.00 per share, in the fourth...

  • BRUSSELS, Feb 24- Google executive chairman Eric Schmidt will meet Europe's antitrust chief next week, two sources with knowledge of the matter said on Tuesday, a move likely to help regulators decide the next step in a four year-old investigation into the Internet company. European Competition Commissioner Margrethe Vestager has met more than a dozen Google...

  • WASHINGTON, Feb 20- Sysco Corp is not holding settlement talks with the U.S. government to resolve a lawsuit aimed at stopping a $3.5 billion merger of the food distributor and its largest rival, a lawyer for Sysco said on Friday. The Federal Trade Commission has filed a complaint aimed at blocking Sysco's purchase of U.S. Foods Inc. The FTC said the deal would give...

  • U.S. sues to stop proposed merger of Sysco, US Foods Thursday, 19 Feb 2015 | 2:15 PM ET

    WASHINGTON, Feb 19- U.S. antitrust regulators filed a lawsuit on Thursday aimed at stopping food distribution giant Sysco Corp from purchasing smaller rival US Foods, the Federal Trade Commission said on Thursday. Sysco and US Foods, the largest U.S. food distributors and the only ones with national reach, announced the $3.5 billion deal in December 2013.

  • AmEx hit with latest blow over merchant rules Thursday, 19 Feb 2015 | 12:45 PM ET
    American Express, Visa and Mastercard signage are displayed in a shop window in New York.

    The credit card company's rules for merchants violate antitrust laws, a US judged ruled Thursday.

  • NEW YORK, Feb 19- American Express Co violated U.S. antitrust law by imposing rules that barred merchants from steering customers to use credit cards that have lower processing costs, a federal judge ruled on Thursday. The decision is the second major setback for American Express this month, following its loss on Feb. 12 of a lucrative co-branding relationship...

  • Regulators set to probe into GE, Alstom deal: sources Wednesday, 18 Feb 2015 | 6:42 PM ET
    General Motors GM

    General Electric's bid for Alstom's power equipment business is likely to face a full-scale investigation by EU antitrust regulators.