Australia unemployment rises

first_imgThursday 12 August 2010 7:54 pm Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot whatsapp Australia unemployment rises Sharecenter_img whatsapp KCS-content Australia’s unemployment monitor recorded a surprise rise in July, making it unlikely that the central bank will raise interest rates from their current 4.5 per cent in the near future. Unemployment edged up to 5.3 per cent over the month, compared to 5.1 per cent in June. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoHero WarsBig Boss of internet games!Hero WarsUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndo Tags: NULLlast_img read more

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Aer Lingus looks to sell stake

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Aer Lingus looks to sell stake Tags: NULL whatsapp KCS-content Show Comments ▼center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comPeople-TodayWoman Files For Divorce After Seeing This PhotoPeople-Today Share Thursday 16 September 2010 9:09 pm Aer Lingus can survive as a standalone airline but it might prefer to sell a stake to a larger player to take part in the sector’s consolidation wave, its chief executive said yesterday. The former Irish state airline has already fended off two hostile bids from rival airline Ryanair. Aer Lingus chief executive Christoph Mueller said he was exploring closer links with one of the global airline alliances, such as Star Alliance, Sky Team or Oneworld. last_img read more

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Cable wages war on British boardrooms

first_img whatsapp Cable wages war on British boardrooms by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com KCS-content Tuesday 21 September 2010 8:38 pm whatsapp VINCE Cable will today launch a scathing attack on British business, announcing a wide-ranging investigation into company takeovers, executive pay and corporate governance. The business secretary will use a keynote speech at the Liberal Democrat conference to wage war on large companies, promising to “shine a harsh light into the murky world of corporate behaviour”. Cable is also expected to slam so-called “short-term shareholders” that buy stock in anticipation of a takeover offer, as well as investment banks and others who earn fees by advising on corporate mergers and acquisitions. “The principle of responsible ownership should apply across the business world. Let me be quite clear. The government’s agenda is not one of laissez-faire. Markets are often irrational or rigged,” Cable is expected to tell Liberal Democrat members in Liverpool. “Why should good companies be destroyed by short term investors looking for a speculative killing, while their accomplices in the City make fat fees? Why do directors forget their wider duties when a fat cheque is waved before them? Capitalism takes no prisoners and kills competition where it can.”The business secretary’s speech comes as the government prepares to merge the UK Listing Authority (UKLA) with the Financial Reporting Council (FRC), creating a “powerful companies regulator” to police big firms. Such a regulator would be housed under the auspices of Cable’s business department, allowing him to crack down on executive pay, corporate takeovers and perceived flaws in corporate governance.Yesterday, the FRC – which will emerge from the shake-up as an organisation with significantly more power – welcomed Cable’s announcement. “We fully support the minister’s focus on both tackling short-termism and encouraging shareholder responsibility,” said FRC chief executive Stephen Haddrill. But employers’ group the CBI hit out at the business secretary’s comments, insisting his anti-capitalist comments were at odds with the government’s oft-stated aim of a private sector recovery. Richard Lambert, CBI director-general, said: “Of course Cable is right to say that the principle of responsible ownership should apply across the business world. But it’s odd that he thinks it sensible to use such emotional language.”He added: “The case for corporate takeovers is that they allow control of poorly run businesses to pass into more efficient hands. Cable has harsh things to say about the capitalist system: it will be interesting to hear his ideas for an alternative.”The business secretary’s comments came as a raft of politicians and establishment figures stepped up their war of words on the City. Lord Turner, chairman of the Financial Services Authority, used his Mansion House speech to claim that “absurd bonuses for excessive risk taking” and “an explosion of exotic socially useless product development” were partly to blame for the economic crisis, though he was at pains also to blame bad policies. And Nick Clegg, the deputy prime minister, said it was “ethically wrong” for people to use accountants to cut their tax bills. Clegg and Cable also said the government would be willing to impose a tax on bankers’ bonuses if banks don’t show “restraint” in the forthcoming remuneration round, although aides to the chancellor said there was little chance of a re-run of Labour’s one-off bonus tax. Show Comments ▼ Tags: NULL Sharelast_img read more

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SuperGroup hit by costs

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Show Comments ▼ KCS-content SUPERGROUP shares dived yesterday as a warning over the rising costs of materials spooked investors despite a healthy profit update. The company – which owns the popular Superdry brand – has seen its shares soar since they were floated at 500p in March – raising £395m to bankroll its expansion.It made an underlying pre-tax profit of £13.5m in the six months to 31 October. That compares with analysts’ consensus forecast of £13.2m. SuperGroup said: “The autumn/winter collection has been well received by our customers in the UK and overseas, and our owned and franchised retail expansion is progressing as planned.”But some analysts went cold on the company after it warned that the cost of raw materials was putting it under pressure. Its shares dropped up to 17 per cent yesterday, eventually closing 10.9 per cent lower at 1.450p.The lack of an interim dividend was also seen by some as a disappointment. The retailer has opened four new shops and 13 concessions in the first half. Keith Bowman of Hargreaves Lansdown said: “Pre-tax profits appear to be at the high end of analyst expectations. Nonetheless, accounting issues and concerns over rising input costs – cotton prices in particular – appear to have taken the shine off the shares.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Sharecenter_img Wednesday 15 December 2010 7:55 pm SuperGroup hit by costs whatsapp whatsapp Tags: NULLlast_img read more

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Gas leak hits Gulf of Mexico

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com An Exxon Mobil platform in the Gulf of Mexico has been closed following a leak.The “pinhole” leak in a fuel scrubber, reported to the US National Response Center yesterday, caused a mile-long sheen. About five gallons of natural gas escaped, condensing in the Gulf. The leak comes less than a month after the US government announced it would sue BP over its involvement in the Deepwater Horizon disaster. Show Comments ▼ Monday 3 January 2011 10:34 pm whatsapp Gas leak hits Gulf of Mexico Tags: NULLcenter_img whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org KCS-content Sharelast_img read more

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BEST OF THE BROKERS

first_img KCS-content BEST OF THE BROKERS TRAVIS PERKINSRBS rates the building materials firm “buy” with a raised target price of £12.95. The broker sees the firm’s purchase of BSS Group last month as an attractive earnings driver over the next two years until the underlying market recovery takes over in 2013. It adds that the acquisition gives the company significant buying power.NEXTSeymour Pierce rates the retailer “buy” with a target price of £25. The broker believes Next had a passable Christmas, demonstrating the strength of its multi-channel sales model. Expectations were low, according to the broker, and the firm would have performed at the top end of its guidance if it had not snowed.TESCOJP Morgan Cazenove has chosen Tesco as its food retail top pick for 2011, with an “overweight” rating and a target price of 577p. The broker sees a sharply improving returns profile as the firm diversifies. It also notes that debt is falling. It expects like-for-like sales excluding fuel to be up 2.5 per cent when it reports on 13 January. Tags: NULL Thursday 6 January 2011 7:16 pm Share Show Comments ▼center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com last_img read more

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US enviro review of drilling

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tuesday 8 February 2011 8:50 pm Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut The US Interior Department said yesterday it will conduct a review on the environmental impact of leasing certain oil and natural gas tracts in the Gulf of Mexico as part of its next five-year drilling plan. The environmental impact statement will cover all proposed lease sales that would be held off the coasts of Texas, Louisiana, Mississippi and Alabama during the 2012-2017 period.The Obama administration previously pulled tracts in Florida waters and off the Atlantic Coast for future drilling because of safety concerns raised after last year’s BP oil spill in the Gulf of Mexico. Show Comments ▼ Tags: NULLcenter_img KCS-content US enviro review of drilling whatsapp whatsapplast_img read more

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Air France-KLM is hit by Africa crisis

first_img KCS-content whatsapp Tags: NULL whatsapp Show Comments ▼ Share POLITICAL instability in Africa is beginning to affect revenues at Air France-KLM, the airline group warned yesterday, despite reporting a 4.8 per cent rise in overall January passenger traffic. Europe’s largest airline group by sales said the proportion of seats sold, or passenger load factor, rose 1.1 percentage points to 79.2 per cent in January. The growth in traffic outstripped a 3.3 per cent rise in capacity, or seats on offer. Growth was boosted by a favourable comparison with January last year when operations were hit by snow and a two-day air traffic control strike. January cargo traffic rose 3.4 per cent on a 3.3 per cent increase in capacity and the load factor for freight was stable at 64.3 per cent. center_img Tuesday 8 February 2011 8:36 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamBetterBe20 Stunning Female AthletesBetterBe More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Air France-KLM is hit by Africa crisis last_img read more

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Iceland set to pay £100m full year dividend

first_imgThursday 24 February 2011 8:55 pm Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Show Comments ▼ SUPERMARKET chain Iceland Foods is to pay an £100m dividend this year to management and creditors of its former Icelandic bank owners, for the first time in three years.Iceland is expected to report a bounceback in revenues and profits this year as budget-conscious shoppers turned to its stores and the dividend would be paid from cash reserves, the Financial Times reported. The dividend will be declared for the year to 31 March, and is the first since 2007 when it paid out £300m after it was refinanced.Iceland should report earnings before interest, tax, depreciation and amortisation of £190m in the year to March, from £180m the previous year. Management, including its founder and chief executive Malcolm Walker, owns about 26 per cent of the firm while the rest is held by two Icelandic banks, Landsbanki and Glitnir, which collapsed in the financial crisis.The banks, whose creditors should welcome the payout, took over the stake from a third failed investment group, Baugur, which had invested in a number of high street retailers.The winding up board of Landsbanki is expected to put Iceland up for sale soon, though no formal move to do so has been made yet. Share KCS-content Iceland set to pay £100m full year dividend whatsapp Tags: NULL last_img read more

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Unilever fined for EU price fix

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Wednesday 13 April 2011 8:26 pm KCS-content Tags: NULL CONSUMER goods giants Unilever and Procter & Gamble were yesterday fined €315.2m (£281m) by EU regulators for fixing washing powder prices in eight EU countries.Germany’s Henkel, which alerted the European Commission to the cartel in laundry detergents, was not fined. The penalty for Unilever was €104m while P&G was fined €211.2m.As part of the Commission’s settlement procedure, the EU watchdog had cut the fines by ten per cent in return for the firms’ admissions that they participated in the cartel, which the Commission had dubbed “purity” in its investigation.“By acknowledging their participation in the cartel, the companies enabled the Commission to swiftly conclude its investigation,” EU competition commissioner Joaquin Almunia said. P&G owns the Tide, Gain and Era brands of washing powder while Anglo-Dutch consumer goods group Unilever makes detergent products under the brand names Omo and Surf. Unilever said it had used the investigation’s findings to tighten up its internal procedures, while adding that the fine was covered by provisions made in its 2010 results. Unilever fined for EU price fix whatsapp Show Comments ▼ whatsapp Sharelast_img read more

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