Cartel

    • EC fines car makers €875m over cartel deal

      EC fines car makers €875m over cartel deal

      The European Commission announced it had found that Daimler, BMW and Volkswagen group violated EU antitrust rules by colluding on technical development in the area of nitrogen oxide cleaning. The Commission has imposed a fine of a total of € 875m. Daimler was not fined, as it revealed the existence of the cartel to the Commission. All parties acknowledged their involvement in the cartel and agreed to settle the case. Volkswagen has to pay 502m euros in fine, while BMW is punished by 373m.

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    • UniCredit, Nomura, UBS suffer €371m antitrust fine

      UniCredit, Nomura, UBS suffer €371m antitrust fine

      UniCredit, Nomura and UBS were fined with a total of 371 euros by the EU antitrust regulator over illegal agreements, linked to fixed income securities, Reuters reported. According to the EU regulator the three banks had a cartel agreement linked to trading with government bonds. UniCredit said it would appeal to the European Courts and UBS said it was considering doing so. Nomura, which was also fined, was not immediately available for comment.

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