Tag

Price Gouging

All articles tagged with #price gouging

business27 days ago•3 min saved

UK heating-oil prepayments hit by war-driven price swings and cancellations

UK heating-oil customers report prepaid orders being canceled after the Iran–Israel conflict began, with some suppliers trying to double-charge; while the industry association notes rapid price swings and says many distributors are honouring orders, politicians call for action to curb profiteering and the government vows intervention if needed. Some customers have seen orders eventually honoured, highlighting vulnerabilities amid volatile prices and no heating-oil price cap.

via BBC|

#business #energy-prices #heating-oil

business28 days ago•4 min saved

Downtown LA gas pump hits $8 a gallon as costs surge

Downtown LA Chevron at 901 N Alameda Street is charging $8.31 per gallon, far above the city average, with the high price attributed to location costs, rent, taxes, and the seasonal switch to a more expensive summer blend, while price differences near busy areas are common and not illegal.

via The Guardian|

#business #gas-prices #hawk-ii-environmental

business29 days ago•16 min saved

Slack chats reveal Live Nation staff bragging about price gouging customers

Newly released court documents show two Live Nation regional ticketing directors bragging about inflating ancillary fees and “robbing fans blind,” including $250 VIP parking, in private Slack messages that call fans “so stupid.” The exchanges surfaced amid the DOJ antitrust case, even as Live Nation says the remarks don’t reflect its values and notes it has capped amphitheater fees at 15% and invested in fan amenities.

via variety.com|

#antitrust #business #court-documents

business29 days ago•2 min saved

Slack DMs Reveal Live Nation Execs Bragging About Overcharging Fans

DOJ settlement with Live Nation leads to release of 2022 Slack direct messages in which two executives joke about overcharging fans and price-gouging for tickets and ancillary services; Live Nation says the chats don’t reflect company policy. The agreement imposes caps on service fees (15%), limits exclusivity to four years, divestitures at 13 venues, and a nearly $300 million payout to states, while some attorneys general push to continue the case.

via Pitchfork|

#business #doj-antitrust #live-nation

business1 month ago•2 min saved

LA Gas Hits $8 a Gallon as California Braces for Higher Pump Prices

A Los Angeles gas station charged about $8.21 per gallon amid sharply rising fuel costs in California, where statewide averages sit around $5.26/gal and national averages exceed $3/gal. The surge is driven by California’s taxes, environmental fees, a cleaner-burning gasoline blend, and limited refinery capacity, with lawmakers warning prices could reach $8/gal statewide by the end of 2026 if trends continue.

via SlashGear|

#business #california #gas-prices

world2 months ago•2 min saved

Seoul Preps Safety, Transit Upgrades for BTS Comeback

The Seoul Metropolitan Government is coordinating a broad safety plan for BTS's comeback, including crowd-control zoning, real-time monitoring, emergency readiness, subway and bus adjustments, and inspections to curb price gouging, as officials expect large crowds and aim to ensure safe, accessible celebrations for fans.

via Koreaboo|

#bts #crowd-management #price-gouging

politics2 months ago•6 min saved

Colorado eyes curb on price gouging with captive-audience and surveillance-pricing bills

Democrats in Colorado are pushing three bills to curb consumer costs: requiring delivery apps to display in-store prices, banning price hikes in captive-audience settings (stadiums, hospitals, airports) to match local averages, and prohibiting differential pricing by producers to favor large retailers, with enforcement by the attorney general. The measures face opposition from business groups and Republicans, and are expected to be introduced in the coming weeks as lawmakers seek to curb what they see as price manipulation in the market.

via coloradosun.com|

#captive-audience #colorado-legislature #politics

world3 months ago•0 min saved

NY AG Alerts Public on Winter Storm Price Gouging

New York State Attorney General Letitia James warns residents about illegal price gouging on essential goods during the winter storm, emphasizing that fines can reach up to $25,000 per violation and providing a hotline for reporting suspected cases.

via WRGB|

#consumer-protection #emergency-regulations #new-york

business3 months ago•3 min saved

Dollar General Settles Price-Gouging Claims for $15 Million

Dollar General has agreed to pay at least $15 million to settle claims of overcharging customers across its US stores, following lawsuits and investigations into pricing inaccuracies, especially in rural and low-income areas. Customers who document overcharges may be eligible for refunds or discounts, and the company will implement measures to improve pricing accuracy. The settlement also includes monitoring and external audits, with the possibility of additional donations if costs exceed the settlement amount.

via The Guardian|

#business #consumer-protection #dollar-general

business3 months ago•3 min saved

Menards Settles Multiple State Lawsuits Over Deceptive Rebate and Discount Practices

A multi-state coalition settled with Menards over deceptive advertising, where the store was accused of misleading customers about an 11% rebate as an immediate discount and engaging in price gouging during COVID-19. Menards will pay $4.25 million, clarify its rebate terms, and improve transparency, while also agreeing not to price gouge during economic disruptions.

via Canton Repository|

#business #deceptive-advertising #menards

business3 months ago•3 min saved

Menards settles multiple states over rebate and price gouging issues

Michigan and nine other states settled with Menards over allegations of price gouging and misleading rebate practices during COVID-19, resulting in reforms to the rebate program and a financial settlement. Michigan will receive over $637,000, and the company is required to improve transparency and stop future price gouging. The settlement also includes actions related to vehicle anti-theft technology and a separate Google settlement providing consumer restitution. The goal is to protect consumers and ensure fair marketing and pricing practices.

via The Detroit News|

#business #consumer-protection #menards

business3 months ago•0 min saved

Cinven CEO and CFO Resign Amid Price Gouging Concerns

Cinven's CEO and CFO are stepping down amid concerns over potential bans related to price gouging practices, highlighting regulatory risks facing the private equity firm.

via Financial Times|

#business #ceo #cfo

business7 months ago•4 min saved

FTC Takes Action Against Ticket Resale Schemes for Major Concerts

The FTC has sued Maryland-based Key Investment Group for allegedly violating the BOTS Act by using illegal methods to buy nearly 380,000 tickets for Taylor Swift's Eras Tour and other concerts, reselling them for millions of dollars, in a move that marks increased enforcement against ticket scalping practices.

via The Hollywood Reporter|

#bots-act #business #eras-tour

politics8 months ago•3 min saved

Congress Moves to Ban Personalized Pricing and AI Surveillance

Two Democratic Congress members have introduced a bill to ban AI-driven price and wage setting based on personal data, amid concerns over surveillance pricing practices used by companies like Delta and others, which adjust prices based on consumer data, potentially leading to unfair pricing and wage discrimination.

via theregister.com|

#ai #congress #legislation

politics1 year ago•5 min saved

Trump's Impact on Grocery Prices: Expectations vs. Reality

Experts suggest that President-elect Donald Trump could address high grocery prices by increasing oil production, bolstering antitrust enforcement, or implementing a federal price-gouging ban. Increasing oil production might lower food prices due to reduced supply chain costs, but it could also exacerbate climate change. Strengthening antitrust measures could counteract market concentration and high prices, while a price-gouging ban might prevent sudden price spikes, though its effectiveness is debated. Each approach carries potential benefits and drawbacks.

via ABC News|

#antitrust #grocery-prices #oil-production