EU fines truckmakers record US$3.2 billion over 14-year cartel

Daimler , Paccar and two other truck makers were fined a record 2.9 billion euros (US$3.2 bln) by EU antitrust regulators on Tuesday for taking part in a 14-year cartel. The European Commission said the companies fixed prices and coordinated on the timing of introducing new emission technologies in 1997 and on passing on costs of those new technologies. Its overall fine was more than double the previous record for a group operating a cartel in the EU. Daimler received the biggest fine at 1.01 billion euros while Volkswagen-owned MAN escaped a penalty because it had alerted the cartel to the European Commission.

Sourced from: www.channelnewsasia.com

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EU Files Additional Formal Charges Against Google

The European Union’s antitrust regulator hit Alphabet Inc.’s Google with additional formal charges, cranking up pressure on the Silicon Valley firm to change the way it operates in a range of services.

Sourced from: www.wsj.com

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