PRESS DIGEST - Financial Times - April 28

OFT WIDENS PROBE INTO RETAIL PRICING

The Office of Fair Trading is targeting some of the world's biggest consumer goods companies in its latest probe into alleged price-fixing between supermarkets and suppliers. Procter & Gamble confirmed on Sunday that it has been visited by the OFT on Thursday, which also visited the headquarters of Wm Morrison(MRW.L: Quote, Profile, Research, Stock Buzz), J. Sainsbury(SBRY.L: Quote, Profile, Research, Stock Buzz), Tesco(TSCO.L: Quote, Profile, Research, Stock Buzz) and Asda to request data on prices. Mars and Unilever(ULVR.L: Quote, Profile, Research, Stock Buzz) also revealed they had received letters from the OFT on Friday to arrange visits. The Competition Commission will this week publish findings of its latest investigation into the grocery sector and is expected to demand the setting-up of a 'supply ombudsman' to oversee retailers' relationship with their suppliers.

FRENCH FARMS CHIEF HAILS CAP AS ANSWER TO HIGH WORLD FOOD PRICES

French Agriculture Minister Michel Barnier has told the Financial Times that the developing world should draw inspiration from Europe and its Common Agricultural Policy and form self-sufficient regional agricultural blocs funded with a redirection of development aid. Mr Barnier said he would not allow Europe's system of subsidies and barriers to trade to take the blame for "disorder" surrounding the spike in commodity prices, and that the European Union should provide money and know-how to help developing regions adopt their own CAPs

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EMERGENCY FUEL SUPPLY CURBS "NOWHERE NEAR"