In association with
Logo Logo Logo

 EU slaps $150 million cartel fine on car parts producers


BRUSSELS, (AP): The EU has slapped a $150 million fine on two Japanese car part producers for fixing prices for alternators and starters for over half a decade.

Melco will have to pay the biggest fine of 110.9 million euros, with Hitachi having to hand over 26.9 million euros. A third company, Denso, was not fined since it disclosed the case to the EU’s antitrust office.

EU Competition Commissioner Margrethe Vestager said the three companies met at each other’s offices and in restaurants to skew the prices for consumers and limit competition among the producers. She said that even if the collusion happened outside of the 28-nation EU, her office would still pursue the case since EU consumers were hurt by artificially high prices.

For Indian tourists travelling by land:- 72 hours (-ve) C-19 report, CCMC form and Antigen Test at entry point

For Indian tourists travelling by land:- 72 hours (-ve) C-19 report, CCMC form and Antigen Test at entry point

Comment here !
Related News

By GEIR MOULSON, BERLIN (AP):- Germany’s pro-business Free Democrats on Sunday approved a deal to form a new government with

PARSA:- Export of Nepali products to neighbouring India and other countries through Birgunj customs has increased significantly in the first

KATHMANDU:- A project is to be implemented in Province 1 to strengthen rice seed production, supply and quality control system.

PARIS (AP):- Members of France’s main conservative party are picking their presidential candidate Saturday, a decision that could significantly shape