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World - China fines Japanese auto parts firms $200 mn for monopoly


China has fined 10 Japanese auto parts firms more than $200 million for price-fixing, authorities said Wednesday, in what state media called the biggest-ever penalty for violating the anti-monopoly law. The companies were found to have implemented monopoly pricing agreements for more than 10 years, the National Development and Reform Commission (NDRC) regulator said in a statement. It fined them a total of 1.24 billion yuan ($201 million), in what state broadcaster CCTV said was the biggest fine China had imposed since its anti-monopoly law took effect in 2008. `The companies... unlawfully affected prices of auto parts, finished vehicles and bearings in China and harmed the interests of downstream manufacturers and consumers,` the NDRC statement said.


Wednesday, August 20, 2014  06:48

Yahoo

Business - China fines 12 Japanese firms $201 million for price-fixing


China`s anti-monopoly regulator said on Wednesday it has ordered 12 Japanese auto part and bearings makers to pay fines totaling 1.24 billion yuan ($201.80 million) for manipulating prices. Sumitomo Electric Industries Ltd, Denso Corp and Mitsubishi Electric Corp are among the autoparts makers that were fined after the National Development Reform Commission (NDRC) found they had colluded to reduce competition and establish favorable pricing on their products. The price-fixing agreements were in violation of China`s anti-monopoly law and `improperly affected the pricing for auto parts, entire vehicles and bearings,` the NDRC said in a statement on its website. NSK Ltd, NTN Corp, and Jtekt Corp were among the four bearings companies fined by the regulator.


Wednesday, August 20, 2014  04:38

Yahoo

World - Russia, Ukraine, EU leaders to hold talks on gas, trade disputes


The presidents of Russia, Ukraine and the European Commission have agreed to hold talks on disputes over gas and an EU-Ukraine free trade agreement, in parallel with efforts to stabilise the security situation in Ukraine, the EU said on Thursday. The talks between Russian President Vladimir Putin, Ukrainian President Petro Poroshenko and European Commission President Jose Manuel Barroso are intended to be held in person, a European Commission source said, but it is not yet clear where or when. Raising discussions of the disputes to the level of presidents appeared to offer hope of a possible easing of tensions over Ukraine, immersed in a crisis which has sent relations between Russia and the West plummeting. `It was agreed to hold consultations between the presidents of Russia, Ukraine and the European Commission on the issues related with the implementation of the (EU-Ukraine) Association Agreement as well as on the supply of gas, in parallel with the efforts to stabilise the political and security situation.


Thursday, August 14, 2014  22:00

Yahoo

World - Russia, Ukraine, EU leaders to hold talks on gas, trade problems


The presidents of Russia, Ukraine and the European Commission have agreed to hold talks on issues over gas supply and an EU-Ukraine trade agreement, in parallel with efforts to stabilize the security situation in Ukraine, the EU said on Thursday. European Commission President Jose Manuel Barroso spoke to Russian President Vladimir Putin by telephone on Thursday to discuss ways to de-escalate the crisis in Ukraine, the Commission said in a statement. `It was agreed to hold consultations between the presidents of Russia, Ukraine and the European Commission on the issues related with the implementation of the (EU-Ukraine) Association Agreement as well as on the supply of gas, in parallel with the efforts to stabilize the political and security situation.


Thursday, August 14, 2014  21:13

Yahoo

World - Brazil makes progress on saving forests, Indonesia risks setbacks-report


Brazil has made good progress in safeguarding the Amazon rainforest but Indonesia`s plans for its forests could face setbacks under a new government, a report commissioned by top forest aid donor Norway said on Monday. Norway, rich from offshore oil and gas, paid 10.3 billion crowns ($1.7 billion) to slow tropical deforestation from 2008-13, according to the report by the state-funded Norwegian Agency for Development Cooperation (Norad). `Brazil`s deforestation rate and corresponding greenhouse gas emissions have strongly decreased,` the report said of progress in protecting the Amazon, the biggest tropical forest.


Monday, August 18, 2014  05:44

Yahoo

Sports - FCC`s Pai supports repeal of NFL TV blackout rules


BUFFALO, N.Y. (AP) Ajit Pai called the NFL`s television blackout rules `outdated,` and urged his fellow Federal Communications Commission representatives to vote in favor of having them repealed to address fan concerns.


Wednesday, August 20, 2014  03:59

Yahoo

Sports - FCC chief supports repeal of NFL TV blackout rules


BUFFALO, N.Y. (AP) The commissioner of the Federal Communications Commission says it`s time to repeal NFL television blackout rules.


Wednesday, August 20, 2014  03:59

Yahoo

World - India`s Modi ends an era of socialist-style planning


By Douglas Busvine NEW DELHI (Reuters) - India`s national Planning Commission certainly tried to present a modern image, with a Twitter profile that promised `Faster, More Inclusive and Sustainable Growth`. `Times have changed since the Planning Commission was created,` Modi said on Friday, in a speech to mark India`s liberation from British colonial rule. A new institution would be set up `in a short span of time`, added the 63-year-old leader, who swept to power in a general election in May. Wearing a white kurta tunic and saffron turban, Modi spoke from the ramparts of the 17th-century Red Fort in old Delhi, continuing a tradition begun by independent India`s first prime minister, Jawaharlal Nehru. It was Nehru, a socialist who admired Josef Stalin`s drive to industrialize the Soviet Union, who in 1950 set up - and chaired - the Planning Commission to map out a development path for India`s agrarian economy.


Friday, August 15, 2014  08:43

Yahoo

World - India`s PM says central planning body to be disbanded


NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi said on Friday that he would replace the central Planning Commission that for decades guided the country`s socialist economy with a more modern institution. `The times have changed since the Planning Commission was created. In a short span of time we will initiative a new institution that will work in place of the Planning Commission,` Modi said in his independence day address. (Reporting by Sanjeev Miglani; Editing by Douglas Busvine)


Friday, August 15, 2014  04:33

Yahoo

World - Poland asks EU to complain to WTO over Russian embargo


Poland has asked the European Commission to lodge a formal complaint to the World Trade Organization (WTO) over a Russian ban on EU food products that has hit Poland particularly hard, the Polish Economy Ministry said on Tuesday. The Commission has so far been cautious about taking the embargo case to the WTO, with lawyers in Brussels advising it could escalate a trade conflict with Russia over Ukraine. Russia has banned import of EU food products including fruit and vegetables from Poland whose total food exports to Russia were worth around $1.5 bln last year.


Tuesday, August 19, 2014  15:48

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