Philips plans to appeal EU fine for competition violation

AMSTERDAM Wed Dec 5, 2012 6:22am EST

AMSTERDAM Dec 5 (Reuters) - Philips Electronics said on Wednesday it planned to appeal a European Commission fine for violating competition rules in the cathode-ray tubes industry.

Philips, LG Electronics, Samsung SDI and three other firms were fined a record 1.47 billion euros ($1.92 billion) by EU antitrust regulators for fixing prices of cathode-ray tubes in two cartels lasting nearly a decade.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.