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Swiss bank UBS is reportedly headed for immunity in EU regulators’ investigation of foreign exchange market manipulation, according to a source. After avoiding fines in the EU’s LIBOR rigging investigation, the bank is reportedly looking to repeat the situation under a leniency program. But while UBS avoided a $3.45 billion LIBOR sanction, reports say critics… Continue reading Switzerland: UBS headed for forex immunity

German competition regulators have fined six beer brewers, including Carlsberg, a total of $319 million for forming a price-fixing cartel, the second round of penalties imposed in the case. The nation’s Federal Cartel Office first fined five German brewers in January as part of the same investigation. The authority found the companies to have colluded… Continue reading Germany: Carlsberg among brewers fined for price-fixing

The European Commission has fined 11 high voltage power cable manufacturers fines totaling $416 million, the regulator announced Wednesday, announcing findings from an investigation that found the companies had collude “on an almost worldwide scale.” European Commissioner Joaquin Almunia announced the penalties for six EU companies, two South Korean companies and three Japanese companies. The… Continue reading EU: Cable cartel fined, operated on a ‘worldwide scale’

Apple Inc. is reportedly gearing up to acquire a unit of Japan-based Renesas Electronics, but will have to beat out other bidders for the assets, say reports. Apple is among the companies speaking with Renesas for its 55 percent stake in semiconductor maker Renesas SP Driver. Sources reportedly say the company is one of several… Continue reading US: Apple eyes next acquisition

The European Commission’s former deputy director-general in charge of competition has found a new role at the regulator. According to reports, Nadia Maria Calviño Santamaria was appointed as the new DG for budget at the Commission. She will follow Hervé Jouanjean, who is set to retire later this year. Calviño became the youngest-ever deputy director-general… Continue reading EU: DG appointments shake up Commission’s competition control

US-based Qualcomm has much to gain from China’s plans of a 4G wireless spectrum roll out, but the company still has a lot to lose as the nation’s antitrust regulators continue its probe into the firm. China is in the midst of introducing 4G infrastructure that will allow smartphone users access to high speed wireless… Continue reading China: Stakes are high for Qualcomm as probe collides with 4G rollout

The Competition Commission of Singapore has released provisional findings following its inquiry into the air freight industry, announcing that 11 companies may have formed a cartel to fix prices. According to the CCS, the companies seem to have fixed fees and surcharges by colluding to exchange consumer information. The freight route affected includes shipments between… Continue reading Singapore: Initial findings suggest freight cartel

Medical equipment maker Steris Corporation announced Tuesday that it has reached an agreement to acquire Integrated Medical Systems International in a $175 million buyout. According to a press release, the transaction includes a purchase price of $165 million with an additional $10 million for real estate. IMS operates in the manufacturing of surgical equipment and… Continue reading US: Medical equipment merger inked for $175M

French telco Bouygues is dragging on the battle to acquire phone carrier SFR as it announced this week that it has extended its offer to acquire the company, say reports. Bouygues is currently competing with Numericable to acquire the Vivendi-owned company. Reports say Vivendi is more likely to sell the company to Numericable as antitrust… Continue reading France: SFR acquisition offer drags on