price fixing news stories on Newser

DOJ Should Have Gone After Amazon, Not Apple

Evann Gastaldo — Mon, 16 Apr 2012 12:31:21 CDT

When the Justice Department decided to take on "the monopolistic monolith that threatened to dominate the book industry," it chose the wrong targets —five large publishers plus minor e-book player Apple—while ignoring the all-powerful Amazon, writes a dumbfounded David Carr in the New York Times . "That’s the modern equivalent...

Apple: We Didn't Fix E-Book Prices

Matt Cantor — Fri, 13 Apr 2012 08:37:07 CDT

The Justice Department's allegations of an e-book pricing conspiracy at Apple are "simply not true," the tech giant says, according to Reuters . "The launch of the iBookstore in 2010 fostered innovation and competition, breaking Amazon's monopolistic grip on the publishing industry," an Apple rep tells the Wall Street Journal . "Just...

Feds Sue Apple Over E-book Price Fixing

Mark Russell — Wed, 11 Apr 2012 10:41:39 CDT

The Justice Department has filed an antitrust lawsuit against Apple and five of the US' biggest book publishers over allegations that they conspired to fix the price of e-books ahead of the iPad's launch, the Wall Street Journal reports. The conspiracy allegedly aimed to drive up prices, which had settled...

US to Go After Apple, Others Over E-Book 'Price Fixing'

Mary Papenfuss — Thu, 08 Mar 2012 01:15:00 CST

The US Justice Department has informed Apple and five top publishes that federal attorneys are ready to go to court to prosecute them on charges that they colluded to boost e-book prices, sources tell the Wall Street Journal . Some of the companies are already in settlement discussions with the feds,...

Italy Raids Pasta Makers in Price-Fixing Probe

Kevin Spak — Wed, 16 Dec 2009 11:57:39 CST

Financial police have searched the offices of Italy’s top five pasta makers to investigate claims that they’ve rigged the price of rigatoni—and you know, other pasta, too (rigatoni was just alliterative). The investigation has been ongoing since 2007, after consumer groups complained that prices were up as much as...

Cybercops Bust Retailers Whose Deals Are Too Good

Jim O'Neill — Thu, 04 Dec 2008 09:57:20 CST

Manufacturers have gone on the offensive to stop discounters from selling their products for less than the minimum advertised price they set, reports the Wall Street Journal. But companies like eBay and Costco are pushing for laws to ban the minimum prices. Some retailers, like Circuit City, use workarounds to...

Salt Deficit May Make This Scary

Drew Nelles — Sun, 16 Nov 2008 17:41:03 CST

City officials in the Midwest are struggling to prepare for another season of heavy snowfall as road salt supplies drop and prices surge, the Los Angeles Times reports. High demand and once-high gas charges have boosted salt prices, but the spike from $40 to $140 per ton seems exorbitant to...

Feds Dig Into Price-Fixing by Egg, Tomato Processors

Nick McMaster — Tue, 23 Sep 2008 15:35:01 CDT

The Justice Department is investigating allegations of price-fixing by tomato and egg processors, the Wall Street Journal reports today. California processor SK Foods is facing allegations it bribed buyers at six companies to pay inflated prices for tomato paste and chili peppers. Tomato prices have surged 16% over the past...

Feds Think Bad Data May Feed Oil Spikes

Jim O'Neill — Thu, 04 Sep 2008 10:01:38 CDT

Commodity regulators, worried that some companies are manipulating crude oil prices by reporting false numbers on supplies and sales, are conducting a wide-ranging probe focused on energy traders, the Wall Street Journal reports. Sources say a big worry is that firms are falsely reporting oil inventories to create the perception...