Stores raided over 'price fixing'

[Sweetpea]

The headquarters of Britain’s biggest four supermarkets have been raided by the consumer watchdog as part of an investigation into price-fixing.
Tesco, Sainsbury’s, Asda and Morrisons are among those suspected of colluding to fix the prices of groceries and health and beauty products, in what is believed to be the biggest inquiry in the history of the Office of Fair Trading (OFT).
Almost 100 investigators and lawyers are understood to have seized hundreds of e-mails between the retailers and their suppliers during the surprise raids on Thursday.
Firms found guilty of price collusion can expect punitive fines under the Competition Act, equivalent to 10% of the sales turnover of the product involved.

Stores raided over 'price fixing' - Times Online



They'll get a slap on the wrist no doubt.

[easyg]

Originally Posted by Sweetpea

The headquarters of Britain’s biggest four supermarkets have been raided by the consumer watchdog as part of an investigation into price-fixing.
Tesco, Sainsbury’s, Asda and Morrisons are among those suspected of colluding to fix the prices of groceries and health and beauty products, in what is believed to be the biggest inquiry in the history of the Office of Fair Trading (OFT).
Almost 100 investigators and lawyers are understood to have seized hundreds of e-mails between the retailers and their suppliers during the surprise raids on Thursday.
Firms found guilty of price collusion can expect punitive fines under the Competition Act, equivalent to 10% of the sales turnover of the product involved.

Stores raided over 'price fixing' - Times Online



They'll get a slap on the wrist no doubt.

If only tescos get fined, I wouldn't like to pay 10% of 2 billion
BBC NEWS | Business | Tesco profits break through £2bn

[poppy]

they have so much its only loose change, they will soon rake it all back from their customers

They'll probably tell customers prices will have to go up to cover the fines for the illegal activity. Rip-off Britain.

Originally Posted by churchill

They'll probably tell customers prices will have to go up to cover the fines for the illegal activity. Rip-off Britain.

They will not be THAT honest. They will probably blame the price of rice in outer Mongolia, or something.