Bill Would Give U.S. Antitrust Clout Versus Foreign Firms
WASHINGTON -- A bill backed by the Justice Department that would give the U.S. authority to investigate and prosecute price-fixing schemes and other antitrust violations by foreign-owned companies is to be introduced in the House and Senate this...
WASHINGTON -- A bill backed by the Justice Department that would give the U.S. authority to investigate and prosecute price-fixing schemes and other antitrust violations by foreign-owned companies is to be introduced in the House and Senate this week.
"There are more international price-fixing cartels in operation than you'd ever believe," Anne Bingaman, assistant attorney general in charge of the antitrust division, said Monday in a Capitol Hill press conference.
She said she could not specify what industrial sectors are hardest hit by foreign cartels, but did say the Justice Department is investigating almost 20 major cases and plans to announce the results of one probe next week involving a "major consumer item."
The bill, to be introduced in the House by Judiciary Committee chairman Jack Brooks (D., Tex.) and in the Senate by Sen. Howard Metzenbaum (D., Ohio), chairman of the antitrust subcommittee, would give the U.S. authority to negotiate mutual legal assistance agreements with foreign antitrust authorities. While the Securities and Exchange Commission has similar authority with 18 foreign governments, U.S. antitrust agencies don't.
Metzenbaum said the bill would give U.S. consumers "greater protections against group boycotts, price-fixing cartels and monopolistic mergers. Under these new international agreements, foreign companies that manipulate U.S. consumers will no longer be able to hide behind their own laws and loopholes."
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)