Latest news with #Regulators
Reuters
2 days ago
- Business
- Reuters
Mars has not offered remedies to EU for kellanova deal, EU website shows
BRUSSELS, June 19 (Reuters) - Candy giant Mars has not offered remedies to EU antitrust regulators reviewing its proposed $36-billion takeover of Pringles maker Kellanova (K.N), opens new tab, an update on the European Commission website showed on Thursday. The deadline for Mars to offer remedies was June 18. Reuters reported on Wednesday that Mars was unlikely to offer remedies for now to address the EU competition enforcer's concerns about its high market shares in some products in some European Union countries and its portfolio of strong brands. People close to the matter said the EU antitrust watchdog will launch a full-scale investigation into the deal at the end of its preliminary review which finishes on June 25.
Bloomberg
2 days ago
- Business
- Bloomberg
Kellanova Slumps on Report EU Regulators to Probe Mars Deal
By Updated on Save Kellanova shares fell in New York trading following a report from Reuters that European Union regulators are opening an investigation into Mars Inc.'s acquisition of the maker of Pop-Tarts and Eggo waffles. Kellanova shares briefly fell as much as 3.2% before paring some of the decline.
Wall Street Journal
03-06-2025
- Business
- Wall Street Journal
Wells Fargo Freed From Asset Cap Imposed After Fake-Accounts Scandal
Federal regulators moved to lift an unprecedented punishment that had handcuffed growth at Wells Fargo WFC 1.24%increase; green up pointing triangle, a milestone in the bank's efforts to repair its tarnished reputation after its fake-accounts scandal erupted nearly a decade ago. The Federal Reserve Board of Governors voted to remove the restriction that had capped the bank's assets at around $2 trillion. It was the most severe rebuke handed down after the bank's disclosure it had opened millions of unauthorized customer accounts. The 2018 order had pointed to 'widespread consumer abuses and compliance breakdowns.'
Wall Street Journal
03-06-2025
- Business
- Wall Street Journal
Wells Fargo Freed From Asset Cap Imposed After Fake-Account Scandal
Federal regulators moved to lift an unprecedented punishment that had handcuffed growth at Wells Fargo WFC 1.24%increase; green up pointing triangle, a milestone in the bank's efforts to repair its tarnished reputation after its fake-accounts scandal erupted nearly a decade ago. The Federal Reserve Board of Governors voted to remove the restriction that had capped the bank's assets at around $2 trillion. It was the most severe rebuke handed down after the bank's disclosure it had opened millions of unauthorized customer accounts. The 2018 order had pointed to 'widespread consumer abuses and compliance breakdowns.'
Reuters
03-06-2025
- Business
- Reuters
EU antitrust regulators escalate Visa, Mastercard probe, documents show
BRUSSELS, June 3 (Reuters) - EU antitrust regulators are asking retailers and payments companies whether a standardized summary of fees by Visa (V.N), opens new tab and Mastercard (MA.N), opens new tab and more transparency on the charges would address their concerns, according to documents seen by Reuters. The latest questionnaires sent on Tuesday, which came nearly two months after the last batch, suggest that EU regulators have escalated their preliminary investigation into Visa and Mastercard. The two companies, which charge scheme fees for services related to participation in their card system and process about two-thirds of card payments in the euro zone, have long faced complaints from merchants and payments companies. The new questionnaires focus primarily on a simpler and more transparent fee structure and how Visa and Mastercard should handle fines levied on retailers and payments companies. Visa and Mastercard did not immediately respond to requests for comment. Respondents were asked whether a standardized summary of fees categorized by type by Mastercard and Visa, including descriptions and services covered, and drafted in plain and intelligible language would be a suitable solution. The 11-page questionnaires asked if changes to contracts including terms and conditions, services and fees should be based on objective, transparent, general and non-discriminatory criteria. Regulators wanted to know if a requirement for card schemes to invoice fines separately would help retailers and payments companies to identify the reason for the levies and to challenge them when appropriate as well as the process for contesting them. The deadline for replies is June 18.
