"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Wednesday, April 13, 2011

World News

  • Unilever and Procter & Gamble have been fined a combined 315 million euros for running a price-fixing scheme on laundry detergent in eight European countries (Belgium, France, Germany, Greece, Italy, Portugal, Spain, and the Netherlands)..  Unilever's share of the fine was 104 million euros, and P&G took the rest of the 211.2 million euro fine.  A third company, Henkel, was granted immunity in exchange for having tipped off the European Commission.  In related news, consensus estimates are that Procter & Gamble will announce Q3 earnings of $0.97 per share (approximately $2,716,760,480), making the fine about 115 of this quarter's earnings.
United States

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