Consumer goods giants Unilever and Procter & Gamble were fined $456 million by EU regulators on Wednesday for fixing washing powder prices in eight EU countries. Get the full story »
Inside these posts: EU
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EU appealing WTO victory in Boeing dispute
The European Union is appealing its own victory in a trade ruling against Chicago-based Boeing Co. by asking the World Trade Organization to toughen its condemnation of American subsidies for Boeing-made planes. Get the full story »
Boeing received banned U.S. subsidies: WTO
Guests exit a Boeing 787 Dreamliner aircraft at the Farnborough Airshow, Hampshire, July 18, 2010. (Ben Stansall/AFP/Getty Images)
Boeing Co. benefited from $5.3 billion in prohibited state and federal government subsidies, a panel of World Trade Organization judges determined in a report issued Thursday.
But the total amount that will need to be remedied by the U.S. in the trade case is about half that: $2.7 billion, since the U.S. government has already stopped providing Chicago-based Boeing billions of dollars in export-related tax breaks judged to be illegal by the WTO, U.S. officials said. Get the full story »
WTO finds Boeing got illegal subsidies
Plane maker Boeing received unfair subsidies from the U.S. government, according to a World Trade Organization report on Monday, and Boeing and its European rival Airbus immediately quarreled over the scale of the support.
European rival Airbus said the report showed Boeing had received at least $5 billion in illegal subsidies and was only able to launch its 787 Dreamliner with such support. Boeing denied the assertions. Get the full story »
Airbus, Boeing clash ahead of WTO verdict
irbus and Boeing traded blows on Tuesday ahead of a final World Trade Organization ruling on claims Boeing received subsidies, in a tit-for-tat case brought by the European Union over similar U.S. claims against Airbus. Get the full story »
Estonia: McDonald’s prices hiked in currency change
Estonia’s Consumer Protection Board said U.S. fastfood franchise McDonald’s Corp. may have used the Estonian changeover from kroon to euro as a cover to raise prices, according to a report from the BNS news agency Monday. Get the full story »
Abbott absorbable heart stent gets European OK
Abbott Laboratories’ said its experimental dissolvable heart stent has received approval in Europe, a key milestone in the development of the next-generation heart device for patients in the U.S. and around the world.
The North Chicago-based drug and medical device giant said it is the first-ever government regulatory approval of an absorbable stent. Get the full story »
Dec. 29, 2010 at 6:12 a.m.
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Filed under: China, International, Semiconductors, Technology, Trade China’s rare earths export cut raises trade concerns
China has raised fresh international trade concerns after slashing export quotas on rare earths minerals, used in the manufacture of high-tech devices, risking action from the United States at the World Trade Organization.
China, which produces about 97 percent of the global supply of rare earth minerals, cut its export quotas by 35 percent for the first half of 2011 versus a year ago, saying it wanted to preserve ample reserves, but warned against basing its total 2011 export quota on the first half figures. Get the full story »
UK judge orders payments to ‘toxic sofa’ victims
A British judge has ordered retailers to pay hundreds of people who suffered burns and respiratory ailments from toxic sofas. The 408 victims became ill after using leather sofas made by Chinese companies that used dimethyl fumarate, now banned in the EU. Get the full story »
EU fines cartel for fixing prices on LCD panels
The European Union’s competition watchdog says it is fining five Taiwanese and South Korean electronics companies $856 million for fixing prices on LCD panels between 2001 and 2006. Get the full story »
Spain OKs new austerity measures to calm markets
Spain's Finance Minister Elena Salgado speaks on the country's new austerity measures. (AP/Victor Caivano)
The Spanish government has approved a package of new austerity measures and economic stimulus that it hopes will ease investor fears about its debt.
The moves include selling off nearly third of its national lottery, partially privatizing airports, cutting a jobless benefit and trimming taxes for small companies.
The measures were agreed to at a weekly cabinet meeting Friday. Get the full story »
Nov. 30, 2010 at 5:55 a.m.
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Filed under: International, Investigations, Policy, Technology EU launches formal Google probe after complaints
European Union antitrust regulators launched a formal investigation on Tuesday into Google after several search service providers complained that the company had abused its dominant position. Get the full story »
Irish unveil 4-year plan to cut $20B
Ireland unveiled the harshest budget measures in its history Wednesday, a four-year plan to claw back $20 billion using spending cuts and extra taxes. Some 24,000 state employees could lose their jobs and the sales tax could soar to 23 percent.
The plan seeks to cut $13.3 billion from spending and raise $6.7 billion in extra taxes from 2011 to 2014 to combat Europe’s worst deficit.
The government’s long-awaited austerity plan is a prerequisite for Ireland to get an international loan estimated to total $115 billion. The bailout is still being negotiated with experts from the International Monetary Fund and European Central Bank in Dublin. Get the full story »
Effort to oust Ireland’s PM as bailout progresses
Lawmakers in Prime Minister Brian Cowen’s own party mounted a rebellion Tuesday to try to oust him, an effort that could trigger a snap election and delay a massive EU-IMF bailout of Ireland. Cowen’s Cabinet colleagues in the Fianna Fail party said they were confident, however, that the rebels don’t have enough votes to pursue a no-confidence motion against Cowen.
The Cabinet gathered at Cowen’s office to complete its four-year plan for unprecedented budget cuts tied to Ireland’s international bailout. The plan, which proposes to slash $20 billion from the country’s 2011-14 budget deficits, is to be published Wednesday. Get the full story »
Central bank expects Ireland to take EU-IMF loan
Ireland’s central bank chief said on Thursday he expected Dublin to receive tens of billions of euros in loans from European partners and the IMF to shore up its shattered banks though the government said it had made no request yet. Get the full story »
