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Antitrust

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  • 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.

  • WASHINGTON, Feb 17- A fight between an upstart Spanish language TV network and Comcast Corp has provided more ammunition for critics who fear Comcast would gain too much market power if its buyout of Time Warner Cable Inc goes ahead, antitrust attorneys said. Formed by the son of a Mexican immigrant in 2009, Estrella TV currently is distributed by Comcast in 16...

  • What the Expedia-Orbitz deal means for you Tuesday, 17 Feb 2015 | 1:07 PM ET
    Orbitz and Expedia

    Expedia's blockbuster purchase of Orbitz represents a dramatic move in the larger, ongoing battle for travelers' dollars. NBC News reports.

  • BEIJING, Feb 13- A Chinese antitrust regulator said on Friday pricing tactics in the nation's e-commerce sector will be probed to ensure a "fair" market, likely putting new scrutiny on companies such as Alibaba Group Holding Ltd and JD.com Inc.. The comments come just two weeks after another government regulator, the State Administration for Industry and...

  • *Probe follows record fine against Qualcomm in China. SEOUL, Feb 12- South Korea's Fair Trade Commission is investigating Qualcomm Inc, a person familiar with the matter told Reuters on Thursday, adding to antitrust woes for the U.S. chipmaker following a record fine it agreed to pay in China. Qualcomm, the Fair Trade Commission and Samsung Electronics declined to...

  • Feb 10- Chipmaker Qualcomm Inc said it would pay a fine of $975 million to China's National Development and Reform Commission to resolve a 14- month government investigation into anti-competitive practices. Reuters reported earlier in the day about the possible settlement, citing a source, who said the chipmaker and the regulator made significant progress...

  • BEIJING, Feb 9- Qualcomm Inc is likely to pay China a record fine of around $1 billion, ending a 14- month government investigation into anti-competitive practices, after the U.S. chipmaker and the regulator made significant progress during talks last week. The deal, which may also see Qualcomm lower its royalty rates by around a third on patents used in China,...

  • Feb 4- Staples Inc and Office Depot should find the second time is a charm as the top two U.S. office supply chains once again test the views of antitrust regulators in the rapidly changing retail landscape, experts said on Wednesday. Staples, the No. 1 U.S. office supplies retailer, and No. 2 Office Depot Inc announced on Wednesday a $6.3 billion plan to join forces to...

  • Staples co-founder expects nasty legal skirmish   Wednesday, 4 Feb 2015 | 10:13 AM ET
    Staples co-founder expects nasty legal skirmish

    Staples is agreeing to acquire Office Depot for $6.3 billion in a cash and stock deal. Staples co-founder and former Chairman and CEO Tom Stemberg, discusses the likelihood of antitrust scrutiny for the deal.