The European Union’s promised crackdown on corporations for ethical missteps of all sorts is advancing, and first up is a dramatically invigorated enforcement of anti-trust rules.
Since last fall, the European Union has hit at least seven companies with fines totaling in the billions, a stunning increase from past actions. Intel Corp. was fined $1.5 billion in May for anti-competitive practices in the market for computer chips; four companies were whacked with a $1.7 billion fine last November for rigging the price of glass supplied to the auto industry. Two European utilities were recently fined $1.5 billion for collusion in Europe’s gas markets.
