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In the News

Oligopoly - Recent Examples of Price Fixing Behaviour

In this blog entry we will curate recent examples of industries in which collusive price fixing behaviour has been alleged.

Examples of price fixing issues

Global fines for price fixing reach new record in 2013 (Financial Times)

Managing Director jailed for involvement in price fixing of galvanised steel tanks (Financial Times)

Apple agrees to settle price fixing legal case (June 2014) see also this article from the Guardian

German brewers fined 106.5m euros for price-fixing (BBC) see also this video report:

Tyre maker Bridgestone pleads guilty to price-fixing (Feb 2014) (BBC)

HSBC and Goldman sued for allegedly fixing metal price (Nov 2014) (BBC):

China fines Japanese car parts firms for price-fixing (Aug 2014): (BBC)

France fines 13 consumer goods firms €951m for price-fixing (Dec 2014) (Guardian)

Office of Fair Trading investigates price fixing on sports bras: (Sept 2013) (Guardian)

2013 Panasonic in US price-fixing guilty plea

Alleged chocolate bar price fixing in Canada

LIBOR Price Fixing among banks

A record Euro 1.7bn fine was levied against six banks in 2013, for their involvement in a conspiracy to manipulate LIBOR and Euribor benchmarks. UBS and Barclays received full immunity from prosecution for whistle-blowing on the cartel and cooperating with the Commission, saving them from colossal fines of EUR2.5bn and EUR690m respectively. Several other banks received substantial reductions in fines for cooperating.

Update - May 2015

Record fines for currency market fix (BBC news)

"Five of the world's largest banks are to pay fines totalling $5.7bn (£3.6bn) for charges including manipulating the foreign exchange market."

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