Category: Global Blogs

US: US Steel agrees to $58M class action deal (Competition Policy International)

US Steel agreed Tuesday to a multimillion dollar settlement to end a class action suit against the firm, according to reports.

The company agreed to the fine in court to settle the lawsuit first filed by Standard Iron Works in 2008; the suit was filed on behalf of direct purchasers of …read more

Malaysia: Clearance given to create nation’s largest bank (Competition Policy International)

Malaysia’s second largest bank is pursuing the top spot and announced Thursday that it has been given regulatory approval to proceed with a merger that would achieve its goal.

Reports say CIMB Group Holdings has been given approval by Malaysia’s central bank, Bank Negara Malaysia, to proceed with merger talks to …read more

Armenia: Competition authorities send airline case over to Russia (Competition Policy International)

Armenia’s competition regulator announced Wednesday that it will send an ongoing case into the business practices of UTair Aviation to Russian authorities.

Armenia’s Commission for the Protection of Economic Competition has been investigating the airline for alleged false claims regarding pricing of air fares for routes between Moscow to Yerevan. Reports …read more

France: Lens makers eyed by competition watchdogs (Competition Policy International)

French competition authorities said Thursday that they have raided various offices of eye lens makers as part of its investigation into suspicions of anticompetitive behavior.

Reports say the antitrust authority conducted the searches Wednesday, though regulators did not name the companies under investigation. One official, however, confirmed that market leader Essilor …read more