Markets News 

Goldman Sachs, Prysmian, others lose challenge against 302 million euros EU cartel fine

“Prysmian was hit with the biggest fine at 104.6 million euros, which included a joint fine of 37.3 million euros with Goldman Sachs” reports businessinsider.com. The EU antitrust enforcer said the group ran a power cable cartel for almost 10 years from 1999, sharing markets and allocating customers between themselves.The Goldman Sachs company logo is seen in the company’s space on the floor of the NYSE in New York Thomson Reuters By Foo Yun Chee LUXEMBOURG (Reuters) – Investment bank Goldman Sachs , the world’s top cablemaker Prysmian , Nexans…

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ANZ, Citi, Deutsche Bank accused of cartel conduct

“It noted that ANZ shares are bought and sold freely by thousands of investors every day, including during the period in question” writes Robb M for marketwatch.com. The bulk was raised through an institutional share placement underwritten by Citi, Deutsch Bank and the local arm of J.P. Morgan The placement was completed that August when about 80.8 million shares were issued. Source: marketwatch.com Share This:

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Commonwealth Director of Public Prosecutions charges ANZ, Citi and Deutsche Bank with criminal cartel offences

“Criminal charges have also been laid against several senior executives: John McLean, Itay Tuchman and Stephen Roberts of Citigroup; Michael Ormaechea and Michael Richardson formerly of Deutsche Bank; and Rick Moscati of ANZ. The charges involve alleged cartel arrangements relating to trading in ANZ shares held by Deutsche Bank and Citigroup” reports financefeeds.com. In its statement on the matter last week, ANZ said it was also co-operating with ASIC’s investigation into the matter.A followup to the FinanceFeeds’ article from last week about a number of major banks facing criminal cartel charges in…

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AUD Markets News 

Citi, Deutsche Bank, ANZ served with criminal cartel charges in Australia: competition regulator

“(Reuters) – Australia’s competition regulator on Tuesday said criminal charges had been laid against Australia and New Zealand Banking Group Ltd, a local unit of Citigroup and Deutsche Bank AG relating to cartel offences over a $2.3 billion share issue” writes Midwest Communications Inc for 95kqds.com. The placement was made when Australian banks were under pressure to meet new capital requirements, which prompted ANZ and the country’s biggest bank, Commonwealth Bank of Australia, to raise a combined A$8 billion in a single week. Source: 95kqds.com Share This:

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AUD Markets News 

Citigroup, Deutsche Bank, ANZ facing ‘criminal cartel’ charges in Australia

“ANZ, -1.51% will all face “criminal cartel charges” in Australia, the country’s consumer watchdog announced on Friday” writes Markets Reporter for marketwatch.com. “The charges will involve alleged cartel arrangements relating to trading in ANZ shares following an ANZ institutional share placement in August 2015,” ACCC Chairman Rod Sims said, in a statement.ANZ reportedly said the charges stem from a placement of 80.8 million shares. Source: marketwatch.com Share This:

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Major bank ANZ to face criminal cartel charges

“The ANZ bank is expected to face criminal cartel charges after an investigation from the Australian Competition and Consumer Commission” writes Michael Mcgowan for theguardian.com. The ANZ group treasurer, Rick Moscati, two other companies and a number of other individuals are expected to face charges from the Commonwealth Director of Public Prosecutions over “alleged cartel arrangements relating to trading in ANZ shares following an ANZ institutional share placement in August 2015”, the ACCC chairman, Rod Sims, said on Friday. “It will be alleged that ANZ and the individuals were knowingly…

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No antitrust probe for Lufthansa over fares after Air Berlin collapse

“FILE PHOTO: Flags with the German airline Lufthansa sign flutter next to the office building in Frankfurt Thomson Reuters BERLIN (Reuters) – Lufthansa will not be investigated for market abuse over rising ticket prices following the collapse of local rival Air Berlin , the German cartel office said on Tuesday” reports businessinsider.com. “The price increase is significant, but does not justify the instigation of market abuse proceedings,” cartel office president Andreas Mundt said in a statement.The cartel office said that Lufthansa tickets were on average 25-30 percent more expensive after…

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Violence against politicians is increasing ahead of Mexico’s election — but some cartel leaders are now promising safety

“Major criminal groups have weakened and fragmented, in part because of the government’s kingpin strategy, which targets organized-crime leaders” writes Christopher Woody for businessinsider.com. “What they ask for is a free, just, and secret vote, nothing more,” said Rangel, a proponent of dialogue with criminal groups.And the government’s ability to protect candidates and challenge criminal groups remains limited, particularly in remote areas. Source: businessinsider.com Share This:

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Mexico’s dominant cartel is lashing out dissidents and rivals — and it could trigger an avalanche of violence

“The correlation between fragmented criminal groups and increased violence is a phenomenon seen elsewhere throughout the region” writes Parker Asmann for businessinsider.com. This ultimately led to increased violence as dissidents from the peace process and other criminal networks fought each other for control over criminally strategic areas vacated by the FARC.Officials say the Northwest Cartel is fighting the CJNG over control of a major drug trafficking route in Tamaulipas, a strategic area for criminal groups transporting drugs and other contraband into the United States.For example, after the demobilization of the…

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MS-13 is a street gang, not a drug cartel — and the difference matters

“A few years later, one of Comandari’s former lieutenants also tried to establish an international distribution pipeline between MS-13 and the Mexican drug cartel La Familia” writes Steven S for businessinsider.com. Our study proves that MS-13 is neither a drug cartel nor was it born of illegal immigration. Source: businessinsider.com Share This:

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