In speech, Biden backs ban on ‘shrinkflation’
President Biden, in his State of the Union address Thursday night, urged Congress to ban “shrinkflation” — the practice of reducing product size or quantity without lowering the price — in food and other consumer goods. “Pass Bobby Casey’s bill and stop this,” said Biden, referring to Sen. Bob Casey of Pennsylvania.
U.S. trade agency opposes giant grocery merger as anticompetitive
The largest proposed supermarket merger in U.S. history, Kroger's $24.6 billion purchase of Albertsons, would mean higher prices for food shoppers and less competition, said the Federal Trade Commission on Monday. The FTC said it would file suit to block the merger as anticompetitive.
USDA and states to tackle anticompetitive practices
A new partnership between the USDA and 31 states will “help lower food costs for American families while also giving farmers and ranchers more and better options,” said Agriculture Secretary Tom Vilsack at the White House on Wednesday.
FTC accuses two pesticide makers of ‘boxing out’ competitors
Two of the largest pesticide makers in the world, Syngenta and Corteva, illegally paid distributors to limit their business with competitors that made cheaper generic versions of their chemicals so they could charge inflated prices to farmers, alleged the Federal Trade Commission and 10 state attorneys general in a lawsuit on Thursday.
‘Right-to-repair’ bills languish as time for congressional action dwindles
So-called right-to-repair laws won’t help consumers but could damage the retailers and manufacturer-authorized repair shops now in business, said a string of Republican lawmakers at a House hearing on Wednesday, while a consumer advocate warned that “repair monopolization” was pervasive in sectors including personal computing, TVs, and agriculture.
Farm groups ask FTC for right to repair Deere equipment
The world’s largest farm equipment maker, Deere and Co., unlawfully forces farmers to pay a Deere dealer when their tractors or other equipment break down, said farm groups in a “right to repair” complaint filed with the Federal Trade Commission on Thursday. The FTC said last year that it would ramp up its law enforcement against repair restrictions that prevent small businesses, workers, and consumers from fixing their own products.
Food a factor in highest inflation rate in three decades
With the U.S. inflation rate at 6.2 percent — the highest it's been since 1990 — President Biden said the government was on the alert for price gouging as it worked to remove bottlenecks in the supply chain. Inflation has been on the rise since February, and soaring food prices, often led by meat, are an important factor.
FTC to devote more attention to right to repair
Less than two weeks after President Biden called for federal agencies to encourage competition, the Federal Trade Commission voted, 5-0, on Wednesday to "ramp up law enforcement against repair restrictions" that limit the rights of consumers and small businesses to fix the products they purchase.
Biden backs ‘right to repair,’ from tractors to tech
President Biden will issue an executive order to expand competition in the agricultural sector and assure farmers of the right to repair increasingly complex tractors and other equipment, said the White House on Tuesday. The "right-to-repair" rules were expected to include smartphones and other widely used devices.
Albertson’s plans to buy majority stake in Rite Aid
The grocery company Albertson’s, owner of Safeway and several other supermarket chains, plans to buy a majority stake in Rite Aid. The combined company will have 4,900 locations across 38 states and the District of Columbia. Company executives cited Amazon’s purchase of Whole Foods as one reason for the buy.
U.S. decides Amazon purchase of Whole Foods won’t hurt competition
Amazon can proceed with its purchase of Whole Foods after getting the green light from the Federal Trade Commission, which determined that the deal will not reduce competition in the grocery sector. The FTC announced its decision hours after Whole Foods’ stockholders approved the $13.7 billion transaction, said CNBC.
U.S. extends review of ChemChina-Syngenta deal
U.S. regulators are taking more time to study ChemChina's deal to buy Syngenta, says Bloomberg, citing the Swiss seed and ag chemical company. The transaction is one of three that would transform the seed and chemical sector into a "big three" from a "big six."