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The European Commission has imposed a fine of 337.5 million euros on US food company Mondelez, the owner of Oreo cookies and other snack brands, for anti-competitive practices. The company is accused of obstructing sales of its products between EU member states, the bloc's executive arm said on Thursday. Mondelez owns the Cadbury and Toblerone chocolate brands as well as Oreo and Chips Ahoy cookies, Triscuit crackers and Perfect Snacks nutrition bars. The Commission said Mondelez tried to avoid cross-border trade because that could lead to lower prices, harming consumers who end up paying more...
Euronews (English)
After a five-year-long investigation, the EU executive found Mondelēz illegally restricted retailers from sourcing their products from member states where prices were lower, allowing the US packaged food company to maintain higher prices. “This harms consumers who end up paying more for chocolates, biscuits and coffee. It's a key concern to European citizens and even more obvious in times of very high inflation, where many are in a cost of living crisis,” Commission Vice-President Vestager told a press conference today (23 May). She announced a fine of €337.5 for Mondelēz for breaching EU anti...
Euronews (English)
For using a method leading to underestimating the credit risk on certain loans, "the European Central Bank (ECB) has imposed two administrative penalties totalling €3.54 million on Confédération Nationale du Crédit Mutuel", said the ECB in a statement on Thursday. According to the ECB, which oversees 113 significant banks in Europe, Crédit Mutuel did not apply certain requirements, so-called "floors", set by the central bank's rulebook when the lender calculated the risk of certain loan portfolios, using its internal models, between May 2021 and April 2022. HSBC hit with £57 million fine for n...
Euronews (English)
France’s competition regulator hit Google on Wednesday with a new €250 million fine tied to a long-running dispute over payments to French publishers for their news. The regulator said in a statement that it had issued the penalty because the tech giant had failed to meet certain commitments made in June 2022 “aimed at creating the conditions for balanced negotiations between publishers, press agencies and digital platforms”. The companies involved are parent company Alphabet Inc, Google LLC, Google Ireland Ltd, and Google France. One of the elements retained by the regulator is the use by Goo...
Euronews (English)
In the UK, 4 out of 10 large businesses face hefty fines for greenwashing in 2024, as a major toughening up of consumer protection law from the Competitions and Markets Authority (CMA) and the EU comes into force. According to a new analysis of sustainability by the communication platform Compare Ethics, businesses are not mitigating the real risk yet, which includes a fast-changing environment in which every sustainable claim has to be thoroughly verified by them, among others. With the changing regulations across the UK, and EU, "it's no longer just as simple as thinking about a tick box fro...
Euronews (English)
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