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Canada threatens higher tariffs on US wine imports | - 0 views

  • 'retaliatory tariffs' on a range of US imports, including wine
  • US failed to change its country of origin labelling rules to comply with the WTO ruling. But, he said Canada would seek WTO approval before making a move. 
  • Canada represents the second largest export market for US wines by value behind the European Union
  • ...1 more annotation...
  • EU agreed a free trade agreement with Canada

Trade deal opens Europe to oysters - Prince Edward Island - CBC News - 0 views

  • Flynn said oyster growers in his country, Ireland, are selling to Asia because the market in Europe is so competitive. There is room, however, for specialty products.
  • Most are purchased from France, or consumers are buying local product. Canadian oysters are largely unknown.
  • Canada-European Union trade deal
Kento Watanabe

Japan presses Ukraine on car tariffs | The Japan Times - 0 views

    Econ IA - International

Russian Smoking Ban Takes Effect Amid Dispute Over Higher Taxes - Bloomberg - 1 views

  • The Health Ministry proposed raising the tax
    • samuel_chan
      Further shift of the supply curve to the left
  • minimum prices for cigarettes
    • samuel_chan
      Increase in price causing excess supply and a shift to the left for the supply curve
  • Russian Smoking Ban Takes Effect Amid Dispute Over Higher Taxes
    • samuel_chan
      Increase on sales tax for cigarettes and new minimum price
  • ...2 more annotations...
  • doubts as to the effectiveness of some of the measures.”
    • samuel_chan
      As smocking is addictive it is a Inelastic good so there may be very little change
  • higher tobacco taxes
Lucas Hagedorn

OPEC Boosts Supply to Six-Month High; Demand Forecast Stable - Bloomberg - 0 views

  • OPEC increased production by 106,000 barrels a day to 30.57 million a day
  • Consumption climbs at the end of the second quarter becaus
alex vevstad

Russia diamonds: Source under Siberian asteroid crater could supply world markets for t... - 0 views

  • supply the world market for the next 3,000 years.
  • ten times the global stockpile.
  • secret until now because it was already reaping big profits
  • ...3 more annotations...
  • ideal for industrial and scientific uses.
  • value of impact diamonds is added
  • 98 per cent of which was exported to Belgium, Israel, South-east Asia and the USA.
    Russia reveals shiny state secret: It's awash in diamonds
Jin Seo

BP, Shell raided over alleged price fixing | - 1 views

  • cartels
    • Jin Seo
      formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers?
  • market manipulation
    • Jin Seo
      The act of artificially inflating or deflating the price of a security 
  • prices of crude oil, refined oil products and biofuels purchases and sales, potentially harming final consumers
    • Jin Seo
      oil- one of the most inelastic goods due to its high demand and usage in producing a lot of consumer goods 
  • ...9 more annotations...
  • price fixing
    • Jin Seo
      price fixing = market manipulation 
  • BP, Shell and Norway's Statoil
    • Jin Seo
      what sort of market structure are they in? oligopoly and their tendency to collude = because they are profit maximizers 
  • European Commission
    • Jin Seo
      have monitoring for these companies due to high probabilities of collusion 
  • collude
  • prevented others from participating in the price assessment process
    • Jin Seo
      fairly high barriers to entry - one of the characteristics of an oligopoly 
  • the market vulnerable to abuse
  • Consumers need to know that the prices they pay for their energy or petrol are fair, transparent and not being manipulated by traders
  • High oil prices are crushing families across Britain
  • market transparency
    • Jin Seo
      what would the evaluation contain?  
      - is it good or bad? (for consumers (benefits of colluding) and producers)  
      - BP oil competition = shows how having contest ability may be dangerous  
      - what can the governments do to stop collusion from happening? 
    Price fixing of oil companies in the EU
Kenji Tanoto

Indonesia Struggles to End Fuel Subsidies - - 2 views

  • aggressive subsidies,
  • skyrocket
  • burning a hole in the budget
  • ...16 more annotations...
  • $23 billion in 2013
  • $20 billion last year
  • $32 billion
  • 20 percent of the 2013 budget
  • fuel subsidies annually than it does on social programs and capital expenditures combined
  • revive a cash compensation program for poor families to cushion the blow
  • all other prices go up
  • two-tier gasoline pricing
  • public transportation vehicles would continue to pay 4,500 rupiah per liter
  • private vehicle and commercial vehicles like delivery trucks and company cars would pay 6,000 rupiah, a 33 percent increase.
  • 6,500 rupiah per liter.
  • the country had the lowest fuel prices of any net oil-consuming nation in the world
  • Savings from eliminating or reducing a fuel subsidy could go to crucial public social programs including health care, as well as much-needed infrastructure investment, according to analysts
  • Ms. Natalia
  • About 29 million Indonesians live below the country’s national poverty line — 250,000 rupiah per person per month or 1,250,000 rupiah per family per month, and in urban areas, 350,000 rupiah per person per month or 1,500,000 rupiah per family per month. A further 70 million, categorized as near poor, live just above that line. Didik Rachbini, a prominent economist and member of Mr. Yudhoyono’s National Economic Council, which comprises economists and leading businessmen and advises the president on economic policy, said the government had a longstanding fear that increasing the price of fuel would push tens of millions of near-poor Indonesians below the poverty line.
  • country’s rich benefit from them far more than its poor do
    Indonesia Fuel Prices
grace turner

BBC News - Chocolate firms Nestle and Mars accused of price-fixing - 0 views

  • price-fixing
  • conspiracy
  • Nestle Canada, Mars Canada, and the distributors ITWAL have been charged
  • ...5 more annotations...
  • Hershey Canada, an alleged co-conspirator, is expected to plead guilty at a hearing later this month in exchange for leniency.
  • Three individuals have also been charged as part of the investigation.

  • Mars, Nestle and ATWAL vowed to fight the charges

  • "It is Mars Canada's policy not to comment on pending litigation and we are therefore unable to make any additional comments in relation to this matter, which is now before the court.
    • grace turner
      theory of oligopoly
      what it means to price fix
    • grace turner
      possibly luxury vs. necessity-elasticities that make it possible?- chocolate is somewhat addictive...
    mine :)
Keisuke Ozeki

New drug price order may bring in monopoly - The New Indian Express - 2 views

    • Keisuke Ozeki
      Positive Externality, Merit Good
  • the new price regime would bring in monopoly in the sector.
    • Keisuke Ozeki
      Would it bring in a monopoly? - Evaluation
  • ...5 more annotations...
  • While the earlier drug price control order covered only 74 bulk drugs and formulations
    • Keisuke Ozeki
      Note that maximum price level existed previously, but at a lower level.
  • As per the new price control order, the ceiling price of an essential drug will be the simple average of all brands with a market share of at least one per cent.
    • Keisuke Ozeki
      Decrease in demand temporarily as there is an expectation of decrease in price.
  • But, large companies will get a monopoly in pricing as they can manipulate price structure together.
    • Keisuke Ozeki
      Creating cartels to increase the price together - Oligopoly, few large firms dominating the market.
  • The experts in the industry point out that the small players in the field will eventually be wiped out when the new price control regime will come into effect.
    • Keisuke Ozeki
      Evaluation - Assumption made that the large firms are going to form cartels. If they don't, this will not occur.

      For the government to prevent this, they can create anti-cartel regulations
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