South Korea's antitrust watchdog fined seven flour producers a combined $443.8 million for colluding to fix prices from 2019 to 2025. The companies, which control over 87% of the domestic B2B flour market, rigged prices on 24 occasions.
The US Department of Justice has charged seven Chinese executives and four major shipping container companies with conspiring to restrict supply and inflate prices during the Covid-19 pandemic. The companies control 95% of global container manufacturing and allegedly exploited the crisis for profit, leading to higher costs and longer waits for US consumers.
Amazon has expanded its built-in price tracking feature to show price changes over the past year, available in the US, UK, and India. The expansion comes as California Attorney General Rob Bonta filed a price fixing lawsuit against Amazon, accusing the retail giant of bullying vendors to raise prices at competing retailers ahead of Prime Day.
South Korea's Fair Trade Commission has imposed a combined fine of 338.3 billion won ($228.8 million) on six paper manufacturers, including Hansol Paper Co., for price-fixing printing paper used in education and publishing sectors for nearly four years. The FTC will order the companies to reset prices independently and refer them to prosecution, while also pushing for stronger punitive measures against repeat offenders.
On Monday, California Attorney General Rob Bonta revealed the evidence of alleged price-fixing by Amazon. The state filed a request to the Supreme Court in February for a preliminary injunction to stop Amazon's behavior while the lawsuit it originally filed in 2022 proceeds, and is now making that 16-page document available, "largely unredacted." It lays […]
