EU imposes fine on shipping cartel
Article Abstract:
The Trans-Atlantic Shipping Alliance, or TACA, was fined 273 million European currency unit by the European Commission for breaking European Union (EU) rules. According to the commission, TACA abused its position when it agreed to fix prices on inland transport services within the EU and prices paid to freight forwarders. TACA Chairman Olav Rakkenes, also chief executive of one of the alliance's member shipping lines, Atlantic Container Line, has urged the 15 companies that comprise TACA to issue a bank guarantee, instead of splitting the fines, while TACA appeals the decision in the European Court.
Comment:
EU: The Trans-Atlantic Shipping Alliance, is fined 273 mil European currency unit by the European Commission for breaking rules
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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The U.S. needs a more honest Russia policy
Article Abstract:
The US should safeguard the country from Russian nuclear weapons, drop pretense in judging its economic efforts, and denounce Boris Yeltsin for attacking Chechyna.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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