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Tougher fines for safety offences

2014-11-13 06:13:07| BBC News | Business | UK Edition

New guidelines proposing tougher fines of for corporate manslaughter and fatal health and safety offences have been issued by the Sentencing Council.

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Asian shares mixed on bank fines

2014-11-13 03:24:45| BBC News | Business | UK Edition

Asian shares traded mixed on Thursday after record closing highs for Japanese shares in the previous two sessions.

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CNMC fines Telefonica EUR 26 mln for 'restrictive' contracts

2014-11-05 10:07:00| Telecompaper Headlines

(Telecompaper) Spain's telecoms regulator CNMC has fined Telefonica a total of EUR 25.78 million for practices that limit the ability of its business customers to switch operators and change contracts. Telefonica is accused of including permanence clauses in its SME contracts that were automatically renewed and also included penalties that became increasingly higher as contract expiry date approached. The CNMC described the practice as anti-competitive in that it served to "disproportionately" limit the capacity of Telefonica's mobile customers to change operators. In addition, Telefonica's actions "substantially increased the costs that competitors had to incur to gain customers at the expense of Telefonica," said the CNMC in its decision. The regulator added that the fine reflected the fact that the permanence clauses had been in place since 2006, excluding other operators from the business segment of the mobile services market, which accounted for over 70 percent of Telefonica's revenues in the SME division in 2012. Telefonica has reacted "with perplexity" at the CNMC's decision, according to business daily Expansion, and will proceed to immediately lodge an appeal on grounds that the decision is clearly discriminatory against Telefonica, in that it ignores identical practices of other operators in the Spanish market.

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U.S. fines automakers Hyundai and Kia for misstating mileage

2014-11-04 03:05:55| Climate Ark Climate Change & Global Warming Newsfeed

New York Times: The Korean automakers Hyundai Motor and Kia Motors will pay the federal government a combined $300 million in penalties as part of a settlement for overstating vehicle fuel-economy standards on 1.2 million vehicles, the Justice Department and the Environmental Protection Agency announced on Monday. The penalty is the largest ever for a violation of the Clean Air Act, government officials said. Under the agreement, the automakers will pay $100 million in fines and forfeit an estimated $200 million...

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NHTSA fines Ferrari $3.5M for not reporting deaths

2014-11-01 06:34:24| Automakers - Topix.net

The National Highway Traffic Safety Administration said today that Ferrari, the exotic luxury brand that Fiat Chrysler is spinning off into a separate company, has agreed to pay a $3.5 million fine. According NHTSA fines Ferrari $3.5M for not reporting deaths The National Highway Traffic Safety Administration said today that Ferrari, the exotic luxury brand that Fiat Chrysler is spinning off into a separate company, has agreed to pay a $3.5 million fine.

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