32 results on '"antitrust law"'
Search Results
2. The Dangerous Powers of South Africa's 'Super Appellate Court'.
- Author
-
LOXTON, LAUREN
- Subjects
APPELLATE courts ,CONSTITUTIONAL courts ,LEGAL judgments ,ANTITRUST law ,CIVIL rights ,EXPERTISE - Abstract
The Seventeenth Amendment to the Constitution transformed the Constitutional Court from a specialist in constitutional matters to a generalist appellate court. Following this amendment, the Court has demonstrated ample willingness to accept its newfound role as the super appellate court in all areas of South Africa's law, and the limits supposedly imposed on the Court's jurisdiction by Section 167(3)(b) of the Constitution have developed and evolved through a jurisprudence riddled with inconsistencies. This article briefly illustrates these inconsistencies in support of its main claim, which is that it is problematic that the Court acts as a generalist court of appeal over decisions of specialised courts, especially when those decisions require engagement with complex factual assessments that fall outside the realm of the Court's expertise. To demonstrate this, the Court's jurisprudence and experience is compared in the specialised areas of labour law and competition law. This exercise indicates that in areas where the Court possesses expertise similar to what is statutorily envisaged for the relevant specialist courts, such as labour law, it has contributed positive developments that have given content to constitutional rights. On the other hand, the Court's jurisprudence in competition law is a disturbing indication of the shortcomings of the present system in terms of which the Court, without acknowledging its limited competition expertise, has overturned expert factual and economic findings of the competition courts. In the process, this has created uncertainty and undermined the legislative intent of the Competition Act 89 of 1998. This conundrum needs to be remedied through deliberate interventions to enhance the Court's competition expertise. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
3. Competition policy and black empowerment: South Africa's path to inclusion.
- Author
-
Mncube, Liberty and Ratshisusu, Hardin
- Subjects
DEVELOPING countries ,ECONOMIC development ,ANTITRUST law ,RACIAL differences - Abstract
The first democratic government of South Africa prioritized the transformation of society on a non-racial, democratic, and local foundation. The expectation was that all law in South Africa would contribute to, amongst other things, economic transformation and redress the imbalances created by past racial divisions, and more important foster the participation of the previously marginalized people to participate in the mainstream economy. The Competition Act is part of this fabric. In the twenty years that have passed, South Africa has become a leader in the developing world. This article provides a critical review of how competition law has pursued black empowerment with a particular focus on current challenges and opportunities. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
4. South African competition agency response to COVID19.
- Author
-
Bonakele, Tembinkosi
- Subjects
COVID-19 ,COVID-19 testing ,ANTITRUST law ,FINANCIAL crises ,MEDICAL masks - Abstract
South Africa, as with the rest of the world, faced an unexpected crisis on many levels with the onslaught of the Covid-19 virus. In addition to the human casualties, South Africa experienced a sharp rise in prices for essential goods, such as masks and sanitisers, threatening an economic crisis for South Africa's poor and unemployed. The South African Competition Commission chose to intervene using the regulatory tools available in competition law to tackle excessive pricing. This resulted in the investigation and prosecution of several companies for charging excessive prices for a range of goods and services such as masks, sanitisers and Covid-19 testing services. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
5. Connecting the dots in the legal framework for competition regulation in Nigeria.
- Author
-
Ukwueze, Festus Okechukwu, Obioma, Oluchukwu Precious, Nwafor, Ndubuisi, and Osuagwu, Adrain
- Subjects
- *
CONSUMER protection , *ANTITRUST law ,DEVELOPING countries - Abstract
One of the principal aims of competition law is the protection of the consumer from economic exploitation. This the Nigerian government has done through the enactment of the long awaited Federal Competition and Consumer Protection Act 2018 (FCCPA) which is a comprehensive legal framework governing competition issues in Nigeria. This paper seeks to critically appraise the regulation of competition under FCCPA. It compares the Nigerian competition regime with that of South Africa, a developing African country that appears to have evolved and successfully implemented a competition regime. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
6. Competition, Productive Capabilities and Structural Transformation in South Africa.
- Author
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Mondliwa, Pamela, Goga, Sumayya, and Roberts, Simon
- Subjects
- *
EMERGING markets , *PLASTICS industries , *ANTITRUST law - Abstract
Competition law has been promoted across developing countries as part of a market liberalisation package which is premised on a neo-classical model of competition, privileging static allocative efficiency and largely ignoring production. This article critiques this approach through an assessment of its application in South Africa where substantial weight was given to competition law. Building on the critical assessment, the article proposes an alternative framework based on the conception of 'optimal competition' of Amsden and Singh (The optimal degree of competition and dynamic efficiency in Japan and Korea. Eur Econ Rev 38:940–951, 1994). It does this through assessing the relationship between competitive rivalry, productive investment and the development of capabilities in two key industry groupings in South Africa, metals and machinery, and plastics and chemicals. We argue that the failure to develop diversified production capabilities in South Africa reflects the entrenched incumbent firm advantages and the lack of a coordinated policy agenda which proceeds from a recognition of economic power and the need to reshape markets to alter competitive rivalry. An optimal competition framework allows analysis of dynamic rivalry and capabilities development. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
7. The interface between competition law and consumer protection law: An analysis of the institutional framework in the Nigerian Federal Competition and Consumer Protection Act of 2019.
- Author
-
Tavuyanago, Simbarashe
- Subjects
- *
ANTITRUST law , *CONSUMER protection - Abstract
This article assesses the consolidation of competition and consumer protection regulation through an analysis of the institutional framework established by the Nigerian Federal Competition and Consumer Protection Act of 2019. While such a consolidation is not uncommon, it still raises the question as to whether the approach is practical. The article argues that while competition and consumer protection regulation have a common purpose, they are two distinct areas of the law which require separate application and enforcement. To this end, the article discusses the pros and cons of the consolidated approach adopted by Nigeria. Comparisons are drawn with regard to South Africa, where the regulation of competition and consumer protection law remains separated as seen in the Competition Act 89 of 1998 and the Consumer Protection Act 68 of 2008. The article finds that Nigeria's first coherent competition legislation may have been better off without this consolidated approach. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
8. 'The big chill'?: A comparative analysis of effects-based tests for misuse of market power
- Author
-
Kemp, Katharine
- Published
- 2017
9. Digital markets, big data, data privacy, and competition: where crossroads meet.
- Author
-
DE BEER, JEREMY
- Subjects
ANTITRUST law ,DIGITAL technology ,BIG data ,CONSUMER protection lawsuits - Abstract
In article the author discusses digital markets, big data, data privacy, and competition in South Africa. Topics include the intersection between competition laws, consumer protection laws, and data protection laws; the South African Competition Commission's focus on the use of data, artificial intelligence (AI), and algorithms in the competition.
- Published
- 2020
10. Damages Arising from Contraventions of Competition Act 89 of 1998.
- Author
-
Ratz, M.
- Subjects
- *
DAMAGES (Law) , *CIVIL procedure , *ANTITRUST law , *INSTITUTIONAL environment , *SUCCESS , *RIGHTS - Abstract
Persons who have suffered loss or damage as a result of a prohibited practice in terms of the Competition Act 89 of 1998 (the Act) have the right to recover such damage in the civil courts. This right is expressly provided for in section 65 of the Act. To date South Africa has failed to usher in an efficient and effective environment for section 65 civil damages actions, despite growing success being achieved by the competition authorities in uncovering and prosecuting firms for contraventions of the Act, including prohibited practices. Understanding how section 65 rights might be vindicated and whether South Africa's damages regime is adequate to deal with potentially complex damages actions within the realm of competition law contraventions, a starting point would be to gain certainty as to the classification of the nature of section 65 damages. This article seeks to evaluate the arguments of whether these damages actions should be properly classified as statutory or delictual actions by the South African civil courts. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
11. South Africa Antitrust Probe Into Rand-Fixing Collapses, BD Says.
- Author
-
Goko, Colleen
- Subjects
NATIONAL currencies ,ANTITRUST law ,FOREIGN exchange market ,FOREIGN banking industry ,FOREIGN exchange intervention (Monetary policy) - Abstract
South Africa's Competition Appeal Court has dismissed most of the cases against the 28 banks accused of colluding to fix the rand in the New York foreign exchange market almost a decade ago. The court ruled in favor of South African lenders and most of the foreign banks, leaving only JPMorgan Chase & Co., BNP Paribas SA, HSBC Holdings Plc, Credit Suisse Group AG, and Investec Plc to face trial. The court criticized the case brought by the Competition Commission, stating that it was inadequate and lacked evidence. The currency-manipulation saga began in 2015, following a global probe into currency manipulation that resulted in billions of dollars in settlements. [Extracted from the article]
- Published
- 2024
12. South Africa Antitrust Regulator Approves Nonprofit's Rhino Deal.
- Author
-
Vollgraaff, Rene and Sguazzin, Antony
- Subjects
NONPROFIT organizations ,RHINOCEROSES ,WHITE rhinoceros ,ANTITRUST law ,ANIMAL breeding - Abstract
(Bloomberg) -- South Africa's Competition Commission unconditionally approved a proposal by a conservation nonprofit to acquire Platinum Rhino, a ranch that houses an eighth of the world's white rhino population. African Parks can also buy Nsele Trading, a company that provides security services exclusively to Platinum Rhino, the Competition Commission said in an emailed statement on Monday. [Extracted from the article]
- Published
- 2023
13. MANDELA REACHES OUT TO BUSINESS.
- Author
-
Loeb, Marshall and Furth, Jane
- Subjects
SOUTH African economy ,ECONOMIC policy ,ANTITRUST law ,COMMERCIAL crimes - Abstract
Presents an interview with Nelson Mandela, leader of the African National Congress in South Africa. Views of Mandela regarding South Africa's economic future and the role of foreign business; Call for an end to all economic sanctions against South Africa; Implications of pursuing an antitrust policy by Mandela.
- Published
- 1993
14. MARKET DEFINITION AS A PROBLEM OF STATISTICAL INFERENCE.
- Author
-
Boshojff, Willem H.
- Subjects
INFERENTIAL statistics ,AMBIGUITY ,BAYESIAN analysis ,ANTITRUST law ,MERGERS & acquisitions - Abstract
Market definition is conducted under conditions of notable uncertainty, due to conceptual ambiguity and model uncertainty. Statistical decision theory can help to explain and improve the market definition decision. Specifically, a Bayesian decision rule can assist analysts in defining markets by considering (1) the weight of evidence in favor and against substitutability (implying a ranking of substitutes), (2) prior probabilities determined by previous cases and research (setting a benchmark for inclusion in the market), and (3) error costs of incorrect inclusion or exclusion from the market. The article studies how employing such a decision rule would have improved the market definition exercise in a landmark South African merger case. [ABSTRACT FROM AUTHOR]
- Published
- 2014
- Full Text
- View/download PDF
15. Interview with Tembinkosi Bonakele, Commissioner, South African Competition Commission.
- Subjects
COMMISSIONERS ,ANTITRUST law ,LAW enforcement - Abstract
An interview with Tembinkosi Bonakele, commissioner of the South African Competition Commission is presented. Topics discussed include the lessons learned by the agency which celebrated its 15th anniversary, over the past 15 years, his current competition enforcement priorities, and the role of public interest factors in merger review.
- Published
- 2015
16. A gendered analysis of wine export value chains from South Africa to Sweden.
- Author
-
Greenberg, Stephen
- Subjects
- *
WINE industry , *ANTITRUST law , *WINES , *FARM law , *FARM produce , *INTERNATIONAL trade - Abstract
This article is based on research conducted in early 2012 in the Cape Winelands municipality in South Africa. It considers the gendered dynamics of employment in two wine export value chains. In one of the chains, produce is packaged and branded in South Africa for export and in the other, bulk wine is sold for packaging and branding in Europe. The research draws on a survey of workers and in-depth interviews with managers, industry and farm worker support organisations. It considers the possible impact of the adoption of a Code of Conduct on labour standards by the Swedish alcohol retail monopoly, Systembolaget. The research reinforces findings over more than a decade that female workers are concentrated in lower paid, more fragmented and insecure employment. The findings reveal that processors are more or less compliant with national labour standards, but supplier farms are less so, especially in bulk chains. Monitoring at the individual farm level is missing. This makes it difficult to track compliance of codes down to farm level. The study queries the sustainability of initiatives to improve labour standards on farms, should costs be borne entirely by producers who are already facing a cost-price squeeze. [ABSTRACT FROM PUBLISHER]
- Published
- 2013
- Full Text
- View/download PDF
17. SAA II: ABUSE OF DOMINANCE IN THE SOUTH AFRICAN SKIES.
- Author
-
Federico, Giulio
- Subjects
SOCIAL dominance ,INCUMBENT local exchange carriers ,LOYALTY ,ANTITRUST law ,AIRLINE industry - Abstract
This article reviews an abuse of dominance decision against the incumbent do-mestic airline in South Africa (SAA) taken in 2010 and upheld on appeal in 2011. This case placed significant emphasis on the economic impact of the abusive conduct, and it represents a clear example of the adoption of an effects-based approach to assess exclusionary behavior by a dominant firm. As this article sets out, given the features of SAA's conduct and of the relevant market context, it is also possible to identify a coherent economic framework that can explain why SAA's rivals could not profitably match its incentive schemes and were therefore foreclosed. The conceptual issues raised by the SAA case are similar to the ones at stake in the landmark judgments on British Airways. The lessons from this case are therefore relevant to the ongoing antitrust debate on loyalty discounts. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
18. South African Merger Litigations.
- Author
-
DINI, TAMARA
- Subjects
- *
THIRD parties (Law) , *MERGERS & acquisitions , *ACTIONS & defenses (Law) , *APPELLATE procedure , *ANTITRUST law - Abstract
Due in part to the rights of third parties in merger litigation, there have been a number of highly contested litigated merger cases in South Africa. The article initially provides background to the mandatory premerger notification regime in South Africa, including setting out the roles of the various bodies and courts involved in the review and litigation of mergers. The article goes on to discuss the rights of third parties in merger litigation; not all third parties have the same status with regard to participating or intervening in merger proceedings. The article provides an analysis of a number of recent merger cases, including Wal-Mart Stores Inc./Massmart Holdings Ltd. and Pioneer Hi-Bred/Pannar Seed, before concluding with a brief discussion of the rights of merging parties to implement a merger pending an appeal. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
19. How should young institutions approach competition enforcement? Reflections on South Africa's experience.
- Author
-
Makhaya, Gertrude, Mkwananzi, Wendy, and Roberts, Simon
- Subjects
- *
ANTITRUST law , *INTERNATIONAL cooperation , *INTERNATIONAL financial institutions ,SOUTH Africa economic development ,ECONOMIC conditions in Africa, 1960- - Abstract
The South African competition regime established under the Competition Act of 1998 has been acclaimed as a success story of competition policy in an ‘emerging economy’. This paper critically reflects on the South African experience at different levels and draws lessons specifically for the expansion of competition law in Africa. It briefly assesses the record by the main areas of mergers, cartels and abuse of dominance. It then reflects particularly on two strategic areas: a) the importance of prioritisation and proactive analysis of market outcomes, including with regard to making corporate leniency work for prosecution of cartels; and, b) the framework for settlements with companies. It highlights the implications of these areas given the challenges of developing institutional capabilities in African countries. [ABSTRACT FROM AUTHOR]
- Published
- 2012
- Full Text
- View/download PDF
20. WHEN DO VERTICAL RESTRAINTS HARM COMPETITION? THE ECONOMICS-BASED APPROACH AND ITS APPLICATION IN THE BATSA CASE.
- Author
-
THERON, NICOLA M. and BOSHOFF, WILLEM H.
- Subjects
UNFAIR competition ,ANTITRUST law ,COMMERCIAL law ,ACTIONS & defenses (Law) ,TOBACCO industry - Abstract
An 'effects-based' or 'economics-based' approach to competition policy requires a theory of harm that causally links a business practice and its allegedly anti-competitive effects and also weighs anti competitive effects against the pro-competitive effects of the practice. This implies a shift away from per se prohibitions of certain practices towards case-by-case analysis - a move that has been hotly debated, especially in Europe. Using a case study of the recently concluded British American Tobacco case, we study the core features of an effects-based approach to vertical restraints. We find the approach followed in the British American Tobacco South Africa case generally consistent with an effects-based analysis, but highlight some limitations. [ABSTRACT FROM AUTHOR]
- Published
- 2011
- Full Text
- View/download PDF
21. South Africa Antitrust Body Raids Discovery, Old Mutual, Sanlam.
- Author
-
Prinsloo, Loni
- Subjects
INVESTMENT products ,POLICE raids ,STOCK prices ,ANTITRUST law ,RETIREMENT investments ,INSURANCE companies - Abstract
Keywords: BVT@SJ; DSY@SJ; MTM@SJ; OMU@SJ; SLM@SJ; AFRICA; ALLTOP; BNK; BUSINESS; COS; FIN; GEN; GLOBALMACR; GOV; HEA; INDUSTRIES; INS; LAW; MARKETS; STK; SVC; WORLD; WWTOP; WWTOPEU EN BVT@SJ DSY@SJ MTM@SJ OMU@SJ SLM@SJ AFRICA ALLTOP BNK BUSINESS COS FIN GEN GLOBALMACR GOV HEA INDUSTRIES INS LAW MARKETS STK SVC WORLD WWTOP WWTOPEU RH68LKT1UM0Z Discovery Ltd., Old Mutual Insure Ltd. and Sanlam Ltd. are among the companies being probed for possible involvement in collusive practices to fix prices and trading conditions for fees for investment products such as retirement annuities and premiums for risk-related products. Sanlam fell as much as 5.4%, Momentum dropped 5.1% and Discovery slid 4.6% in Johannesburg trading. BVT@SJ, DSY@SJ, MTM@SJ, OMU@SJ, SLM@SJ, AFRICA, ALLTOP, BNK, BUSINESS, COS, FIN, GEN, GLOBALMACR, GOV, HEA, INDUSTRIES, INS, LAW, MARKETS, STK, SVC, WORLD, WWTOP, WWTOPEU. [Extracted from the article]
- Published
- 2022
22. Introduction: Diversity in Policing: Multi-agency Frameworks and Strategies in South Africa.
- Author
-
Shearing, Clifford and Marks, Monique
- Subjects
- *
ANTITRUST law , *VIOLENCE , *PUBLIC administration , *POLITICAL philosophy , *INTERORGANIZATIONAL relations , *ORGANIZATIONAL sociology - Abstract
The article reports that while policing has always been plural, states have for several centuries sought to realize an ideal of a state monopoly over the governance of security. These aspirations have their roots in the political thought of Hobbesc who wrote at the time of the Westphalian Peace of 1648. The ideals of this tradition were expressed by Weber's conception of the nation state as requiring a monopoly of violence. Within this political philosophy, aspiration led to claims that such a monopoly had been realized; that a political fiction was the case. Over the past several decades this fiction has been increasingly difficult to maintain even though the Westphalian aspiration remains very much alive and well. It is now widely recognized, albeit as researchers have just suggested with a deep sense of loss that the Wesphalian project has not been realized, that the governance of security and governance more generally has been, at least for the moment, thoroughly pluralised. While there has been talk that these developments have "hollowed out the state" by taking work away from state bureaucracies, this has certainly not always been the case. Indeed the trend seems to have been an add-on process rather than one of replacement.
- Published
- 2004
- Full Text
- View/download PDF
23. 'BABY = MONOPOLY OF HETEROSEXUAL COUPLES?'.
- Author
-
Chiu Andy Man Chung
- Subjects
MARRIED people ,COMPETITIVE advantage in business ,ANTITRUST law ,PARENTHOOD ,DISCRIMINATION (Sociology) ,RELIGION ,EMIGRATION & immigration - Abstract
The paper first illustrates the contradictory results generated by two surveys - conducted respectively by the colonial Government in 1996 and the author/principal investigator in 1998. The author then argues that the requirement that applicants must be married couples is not well-supported and should be replaced by the criterion of `functional parenthood'. The author also argues in the paper that such a relaxation would also destablize the mythological dichotomy of 'homo vs. Chines&, which is predicated on (1) the misunderstanding that Tongzhi/Queer could not have any child(ren) and (2) the Han-Chinese traditional emphasis on reproduction. [ABSTRACT FROM AUTHOR]
- Published
- 2000
- Full Text
- View/download PDF
24. Platinum Takeover Battle Faces South Africa Antitrust Scrutiny.
- Author
-
Njini, Felix
- Subjects
PLATINUM ,ANTITRUST law ,TENDER offers ,PROCESS capability - Abstract
Northam said any takeover of RBPlat by Implats would be anti-competitive as it would concentrate significant mineral reserves with one company, according to documents filed with the tribunal and seen by Bloomberg News. (Bloomberg) -- The takeover battle for a $2.9 billion South African platinum miner has shifted to the nation's antitrust agencies as Northam Platinum Holdings Ltd. tries to block a bid from rival Impala Platinum Holdings Ltd. [Extracted from the article]
- Published
- 2022
25. South Africa.
- Subjects
CORPORATE lawyers ,ANTITRUST law ,LAW firms - Abstract
The article provides information on the professional background of several lawyers of South Africa including Heather Irvine, Lee Mendelsohn and Lesley Morphet. Heather, director Deneys Reitz Inc., has represented a wide range of clients, particularly in the information technology, telecommunications, banking and mining sectors. It is mentioned that Heather has written many articles on competition law and international trade and employment. Lee, a director and head of the competition law department at Edward Nathan Sonnenbergs, specializes in competition law aspects of hostile takeover bids and has been the lead competition lawyer. Morphet of Deneys Reitz Inc., has an expertise in assisting with or opposing mergers, defending or initiating complaints regarding prohibited practices.
- Published
- 2008
26. Renova's mandatory offer to Sulzer shareholders wins antitrust approval.
- Subjects
- *
STOCKHOLDERS , *ANTITRUST law - Abstract
Antitrust authorities in South Africa, the US, the Russian Federation and Germany have approved the mandatory offer that Renova submitted to Sulzer AG shareholders in August 2015 (see Pump Industry Analyst , August 2015). [ABSTRACT FROM AUTHOR]
- Published
- 2015
- Full Text
- View/download PDF
27. South Africa Regulator May Not Meet New May 12 AB InBev Deadline.
- Author
-
Bowker, John
- Subjects
MERGERS & acquisitions ,BEER industry ,ANTITRUST law - Published
- 2016
28. South Africa overview.
- Author
-
Norton, Anthony
- Subjects
ANTITRUST law ,LEGISLATIVE amendments ,LEGISLATIVE bills ,SOUTH African economic policy ,CARTELS ,MONOPOLIES ,LEGAL liability - Abstract
The article offers information about the new Competition Amendment Bill enacted by the South African Parliament. The most recent version of the bill proposes many changes including the introduction of market enquiries, personal liability for directors and senior management of companies who are deemed to be complicit in cartel offences. It is mentioned that the bill has introduced a new section into the Competition Act, in which participation in a so-called complex monopoly is prohibited. It is reported that the market inquiry amendment would allow the Competition Commission to conduct formal investigations in areas of the economy. It is reported that the Bill to the Parliamentary Portfolio Committee was presented by the Department of Trade and Industry on June 10, 2008.
- Published
- 2008
29. Pro-labour competition policies take hold in Africa.
- Author
-
Myles, Danielle
- Subjects
EMPLOYMENT ,EMPLOYEE empowerment ,LABOR laws ,ANTITRUST law ,INVESTMENTS ,LEGISLATIVE bills ,ECONOMIC competition - Abstract
The article reports that the pro-employment merger review agenda of South Africa is also influencing other parts of the African continent. It is said that South Africa's merger review legislation is focusing on labor conditions, and the country's Competition Commission is encouraging the growth of antitrust regimes in other parts of Africa. Norton Rose's Heather Irvine, speaking at the International Bar Association's Investments in BRICS [Brazil, Russia, India, China, South Africa] conference, said that South Africa may be offering ideas to its neighboring competition authorities, especially regarding the policies to encourage employment.
- Published
- 2013
30. Rumours are forever.
- Subjects
- *
INTERNATIONAL business enterprises , *DIAMONDS , *ACTIONS & defenses (Law) , *PRICE fixing , *ANTITRUST law - Abstract
This article presents an update on the efforts of the diamond group, De Beers, to clear its reputation in the United States. This week De Beers, the leading South African diamond group, said it hopes that talks with America's government on charges of price fixing will be concluded to its satisfaction. For nearly 50 years, De Beers, which produces more diamonds than any other firm, has been blocked from selling directly to the world's largest jewelry market by a lawsuit from America's Department of Justice (DOJ). The lawsuit alleges that De Beers runs an illegal cartel for the production and sale of diamonds. Its global business is healthy--net profits rose by 11% in 2003, helped (paradoxically) by strong indirect sales in America. But the bosses and owners of De Beers have long said that they want the firm to be legally compliant there, if only so that its executives can visit New York without risk of arrest. The owners of De Beers, the Oppenheimer family, vocally support South African plans to put more wealth into black hands. The Oppenheimer family is said to be preparing to double its current 45% stake in De Beers, by buying the shares owned by South Africa's mining giant, Anglo American--which may need the money, judging by the mediocre results it announced this week.
- Published
- 2004
31. NEW BOOKS: South African.
- Subjects
BOOKS ,EFFECT of education on economic development ,COMPETITIVE advantage in business ,MONOPOLISTIC competition ,MONOPOLIES ,ANTITRUST law - Abstract
The article presents information on two books related to economics published in South Africa. The book "Education and the South African Economy: The 1961 Education Panel 2nd Report," deal with the economics of education. Predictions of the future demand for educated man-power are made, and the measures required to meet the demand are discussed in considerable detail. It takes for granted the racial structure of South African education, but emphasizes the need for considerable improvements in African Education, both at the primary and higher levels, and lends no support to the view that high-level jobs should remain a White preserve. The book "Elements of Price Theory," by F. van den Bogaerde includes a competent treatment of imperfect competition, monopoly, monopsony, monopolistic competition and the rest.
- Published
- 1967
32. South Africa to boost antitrust laws.
- Author
-
Sparks, Michael
- Subjects
ANTITRUST law - Abstract
Looks at the efforts of South Africa to improve antitrust laws, with reference to a draft Competition bill allowing government to separate concentrations of corporate power. Prohibitions of the bill; Mechanisms proposed by the bill; Comments from Nowetu Mpati, Congress of South African Trade Unions spokesman; Views of Alec Erwin, minister of Trade and Industry, on the bill.
- Published
- 1998
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