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Jin Seo

BP, Shell raided over alleged price fixing | News.com.au - 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
       
      EVALUATION: 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
Derek Schwung

BBC News - China files EU solar subsidy complaint with WTO - 0 views

    • Derek Schwung
       
      Dumping - lower market price
    • Derek Schwung
       
      Protectionism - subsidizing domestic producers
    • Derek Schwung
       
      dumping
Jin Seo

BP, Shell raided over alleged price fixing | Business News | Business and Finance News ... - 2 views

  • crude oil, refined oil products and biofuels purchases and sales
    • Jin Seo
       
      Oil - one of the most inelastic good   
  • Statoil
  • ...9 more annotations...
  • Platts
  • final consumers
  • colluded
  • prevented others from participating in the price assessment process, with a view to distorting published prices.
  • price fixing
  • 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? 
  • High oil prices are crushing families across Britain. Motorists are being taken for a very expensive ride.''
    • Jin Seo
       
      reasons why oligopolies are strictly monitored 
    • Jin Seo
       
      and also why oligopolies want to collude to become a monopoly 
  • Libor scandal
    • Jin Seo
       
      largest price fixing scandal
  • 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? 
  •  
    oil price fixing in the EU
Arla Takala

Unemployment and Inflation Rise in Euro Zone - NYTimes.com - 0 views

  • Unemployment
    • Arla Takala
       
      Unemployment means people who are willing and able to work for that set income but there are no jobs available for them. 
  • inflation
    • Arla Takala
       
      Inflation is the increase in general price level (GPL) over a set period (usually over a year)
  • climbed
    • Arla Takala
       
      Inflation has increased; prices are higher
  • ...4 more annotations...
  • 10.7 percent from 10.6
    • Arla Takala
       
      The unemployment rate rose by 0.1% in a month
  • Italy and Greece
  • 10.1 percent in January from 10.0
    • Arla Takala
       
      For the EU countries, the unemployment rate increased by 0.1%
  • 24.3 million
    • Arla Takala
       
      24.3 million unemployed. The total population of the EU countries is 503 million. 
Yuuji Mitsuta

Europe's (olive) oil crisis - CNN.com - 5 views

    • Yuuji Mitsuta
       
      Demand has decreased due to economic crisis
    • Yuuji Mitsuta
       
      EU intervention to reduce surplus of olive oil and incomes in rural areas of spain
  • plunged to a 10-year low as domestic consumption in the top producing southern European countries has fallen because of the economic crisis
    • Yuuji Mitsuta
       
      Demand has decreased due to economic crisis
  • ...3 more annotations...
  • price of premium-quality extra virgin olive oil in the wholesale market fell this month to $2,900 a tonne,
    • Yuuji Mitsuta
       
      Decrease in price due to decrease in demand
  • suffering from strong competition from cheaper varieties of vegetable oil.
    • Yuuji Mitsuta
       
      Substitute goods present, so has a higher PED. has lower demand compared to vegetable oil
  • This crop is vital for the main producing countries in terms of maintaining employment in their rural areas
Yuuji Mitsuta

Europe's (olive) oil crisis (2) - 4 views

  • ompetition from cheaper varieties of vegetable oil
  • 10-year low as domestic consumption in the top producing southern European countries has fallen because of the economic crisis.
    • Yuuji Mitsuta
       
      Decrease in demand
  • coincided with a bumper olive crop in Spain,
  • ...2 more annotations...
  • The price of premium-quality extra virgin olive oil in the wholesale market fell this month to $2,900 a tonne, the lowest since 2002 and down more than half from nearly $6,000 a tonne in 2005, according to the International Monetary Fund.
  • The EU has tried to deal with the surplus by paying companies to stockpile oil
senkoffa

Canada threatens higher tariffs on US wine imports | decanter.com - 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
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