Cartel Crackdown Takes Effect (BBC): “Company bosses who conspire to force prices higher face jail under tough new laws which come into force on Friday. The Enterprise Act, which has been in the legislative pipeline for 18 months, sets out penalties of up to five years’ imprisonment and unlimited fines for directors found guilty of serious market abuses.” All this, just for a mutually beneficial commercial exchange.
A Quarter or a Half Point Cut?(CNN): “U.S. Federal Reserve officials have not ruled out a quarter-point cut in interest rates, even as the market prepares for a half-point cut, according to a published report Friday that cites unidentified Fed officials.”
Bargains are Good, Right? (CSM): “The concern among economists is that if consumers don’t buy - as they wait for prices to fall still further - the economy shrinks and jobs can disappear.”
Microsoft Suing Spammers (Economist): “The company accuses the defendants of sending over two billion junk e-mails to MSN and Hotmail users. Microsoft claims the companies resorted to underhand practices, such as disguising pornographic e-mails with a benign subject line, or making e-mails appear as if from a recognised sender. Microsoft is seeking to shut down the spammers’ operations and claiming unspecified damages.”
Limits to be Set on Telemarketing (NYT): “The Federal Trade Commission by the end of this month will begin taking requests from consumers who want their phone numbers made off-limits to telemarketers. The federal plan is similar to programs in more than two dozen states where consumers can place their phone numbers on so-called do-not-call registries.” But will it apply to politicians and their calls before elections? In California, “charities and political organizations will be exempt.”
US Budget Deficit Exceeds Record (Chicago Tribune): “The U.S. budget deficit for May totaled $90.5 billion, the Treasury Department said Thursday, pushing the government’s shortfall for the first eight months of its fiscal year higher than the full-year record set in 1992.”
Posted by Mises.org News
