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Nasdaq futures edge higher as Microsoft shines
Nasdaq futures edge higher as Microsoft shines
By Amruta Khandekar and Shristi Achar A (Reuters) -Futures tracking the Nasdaq edged higher on Monday as Microsoft gained on
2023-11-20 20:15
China Shadow Banking Giant Alarms Investors With Missed Payments
China Shadow Banking Giant Alarms Investors With Missed Payments
One of China’s largest private wealth managers is triggering fresh anxiety about the health of the country’s shadow
2023-08-14 11:26
US congressional committee set to weigh crypto bills
US congressional committee set to weigh crypto bills
By Hannah Lang WASHINGTON A key congressional committee is set to vote this week on several bills that
2023-07-26 12:22
Leicester fined up to £880,000 over price fixing with JD Sports
Leicester fined up to £880,000 over price fixing with JD Sports
Leicester are to be fined up to £880,000 after “colluding to restrict competition” alongside JD Sports in the sales of club clothing, including replica kit, according to the UK competition watchdog. The Competition and Markets Authority (CMA) has said the Sky Bet Championship side and JD Sports have admitted to anti-competitive behaviour, which include “price fixing conduct”. The parties broke competition law between 2018 and 2021 with arrangements which limited competition in the sale of clothing, the CMA said it has provisionally found. Leicester and its parent companies have agreed to pay a fine up to the watchdog’s maximum penalty of £880,000. JD Sports will avoid a fine after reporting the illegal activity. In August 2018, JD Sports said it would stop selling Leicester-branded clothing online for the 2018-19 season, and in January 2019, JD Sports agreed it would not “undercut” the club in terms of online sales for the following season by applying a delivery charge to all orders, the CMA said. It said JD Sports continued the agreement to sell all Leicester clothing with the charge until at least January 2021. Michael Grenfell, executive director of enforcement at the CMA, said: “Strong and unimpeded competition between retailers is essential to consumers’ ability to shop around for the best deals. “Football fans are well-known for their loyalty towards their teams. In this case we have provisionally found that Leicester City FC and JD Sports colluded to share out markets and fix prices with the result that fans may have ended up paying more than they would otherwise have done. “Both parties have now admitted their involvement, allowing us to bring the investigation to a swift conclusion. “The fine that Leicester City FC and its parent companies have agreed to pay sends a clear message to them and other businesses that anti-competitive collusion will not be tolerated.” In response, Leicester stressed that no current club directors or senior management were involved in the arrangements. “These arrangements related to a limited number of bulk orders by JD Sports, which were accepted by the club’s retail sales team over the relevant period,” the club added. “There was no intention on the part of the club to unlawfully restrict the resale of the goods supplied and no material financial advantage to be gained from doing so, given the limited amount of kit supplied to JD Sports. “However, the club accepts the CMA’s findings and has taken steps to strengthen its training and compliance measures to ensure the club’s retail operations fully comply with competition law.” JD Sports also highlighted that current or former directors or senior management of JD were involved in the offending conduct and that it signed a leniency agreement with the CMA last month. The company added: “JD has taken a number of steps to strengthen its competition compliance programme and the board reaffirms its commitment to making the necessary resource available, internal and external, to ensure that this is embedded into its daily operations.” It comes almost a year after JD Sports, rival Elite Sports and Rangers were handed fines over price fixing on replica kits. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Paris St Germain sack Christophe Galtier Wimbledon schedule further affected as rain prevents play on Wednesday morning Keira Walsh fears injury ‘every time I go on the pitch’ due to increased load
2023-07-05 20:27
Instacart raises IPO price range after robust Arm debut
Instacart raises IPO price range after robust Arm debut
Grocery delivery app Instacart on Friday raised the proposed price range for its initial public offering, revising its
2023-09-15 19:00
Fed's Kashkari says tight monetary policy may be needed for 'extended' time
Fed's Kashkari says tight monetary policy may be needed for 'extended' time
By Ann Saphir An extended period of high interest rates and an inverted yield curve could put more
2023-05-11 22:57
US labor agency sues Starbucks over treatment of Seattle workers
US labor agency sues Starbucks over treatment of Seattle workers
By Jonathan Stempel NEW YORK The National Labor Relations Board on Thursday sued Starbucks over the coffee chain's
2023-07-07 04:48
Goldman Sachs prepares another round of layoffs - WSJ
Goldman Sachs prepares another round of layoffs - WSJ
Goldman Sachs Group Inc is preparing another round of layoffs, the Wall Street Journal reported on Tuesday, citing
2023-05-31 01:49
Futures muted as investors await more economic data
Futures muted as investors await more economic data
U.S. stock index futures were subdued on Tuesday in a data-packed week, with job openings figures due later
2023-08-29 18:15
Smoke from wildfires, a fact of life in the West, catches outdoor workers off guard in the East
Smoke from wildfires, a fact of life in the West, catches outdoor workers off guard in the East
The hazardous haze from Canada’s wildfires is taking its toll on outdoor workers along the Eastern U.S. who carried on with their daily jobs even as dystopian orange skies forced the cancelation of sports events, school field trips and Broadway plays
2023-06-09 05:52
Can Oil Ever Be Green? Norway Turns to Wind-Powered Drilling
Can Oil Ever Be Green? Norway Turns to Wind-Powered Drilling
On a platform 140 kilometers (87 miles) off the coast of Norway, Crown Prince Haakon held two power
2023-11-21 16:29
From Start-Up to Global Leader- ARC Celebrates Its 20th Birthday in Style
From Start-Up to Global Leader- ARC Celebrates Its 20th Birthday in Style
EDINBURGH, Scotland--(BUSINESS WIRE)--Jun 16, 2023--
2023-06-16 19:47