Japan imposes record fine on construction companies
The Tokyo High Court has imposed a record A$72 million fine on 23 bridge builders after they were found guilty of colluding to set their bids for public bridge-building contracts. Following a Fair Trade Commission investigation, a total of 26 companies and several executives are alleged to have colluded to divide contracts between 2003 and 2004. The court is still to rule on the remaining three companies.
Law to improve competition in the services sector approved
The European Parliament has approved legislation that will open the European Union’s services market to cross-border competition, making it easier for workers, ranging from lawyers to carpenters, to conduct business outside their home countries. The law is designed to promote competition and growth in the services sector, which accounts for two-thirds of the EU's economic output and is an increasingly important factor in its competitiveness.
Cigarette companies agree to remove 'Light' and 'Mild' descriptors
At the request of the Canadian Competition Bureau, the three major cigarette manufacturers in Canada have agreed to accelerate removal of the descriptors 'Light' and 'Mild' from their cigarette packaging. Imperial Tobacco Canada Limited, Rothmans Benson & Hedges Inc. and the JTI-Macdonald Corporation will phase out these descriptors beginning no later than 31 December 2006 and ending no later than 31 July 2007.
First interim damages awarded by the United Kingdom’s Competition Appeal Tribunal
The United Kingdom's Competition Appeal Tribunal has for the first time awarded interim damages to a claimant in a competition damages action. CAT awarded A$5 million to Healthcare at Home in relation to its damages action against Genzyme. The case stems from the Office of Fair Trading's review of Genzyme’s distribution practices of a particular drug, which resulted in Genzyme being fined for abusing its dominant position.
