LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

France's Intermarche could be fined over Nutella sales brawls

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Feb 22, 2018
11:19 pm
Reuters
RELATED NEWS
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here

French supermarket chain Intermarche could be fined after competition investigators found it breached rules with its hefty discounts on products such as the Nutella chocolate spread offer that caused pandemonium in some stores last month.

The French government`s DGCCRF competition and anti-fraud agency found that Intermarche broke a French law forbidding retailers from selling products below their actual cost, junior economy minister Delphine Geny-Stephann said on Thursday.

Intermarche`s discounting in this case risked a potential fine, Geny-Stephann told RTL radio.

Under French law, a judge will now consider the case and decide whether to impose a fine, which can be up to 375,000 euros ($461,000) for selling at a loss.

Intermarche had no immediate comment on Thursday.

French retailers are only allowed to sell below cost during annual sale periods on products they have had in stock for at least 30 days.

In an interview with newspaper Le Journal du Dimanche this month, Intermarche Chairman Thierry Cotillard said that the price offer was made during its official winter sales period.

The promotions at the end of January offered 70 percent reductions on some grocery brands and led to scuffles among shoppers trying to grab jars of Nutella.

Nutella, made by Italian group Ferrero, is a household favourite in France and footage of the unrest in the Intermarche stores went viral on French social media.

The promotions also covered Procter & Gamble`s nappy brand Pampers, Nestle`s Perrier sparkling water and Lavazza`s Carte Noire coffee, the DGCCRF said.

The promotional offer was annoying to the French government as ministers were preparing to unveil draft legislation aimed at ensuring fairer prices for farmers, notably by curbing aggressive discounting by supermarkets.

The planned food law has been advocated by President Emmanuel Macron as a key response to the long-standing difficulties of many French farmers.

Macron hosted hundreds of young farmers at a reception at the Elysee presidential palace on Thursday, ahead of the annual Paris farm show -- traditionally a politically important event in France -- a day after farmers staged protests against trade concessions to South American countries.

($1 = 0.8136 euros)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here

LATEST NEWS

Gold Price Today 18-04-2021 – Be prepared to pay more for Gold, Silver; not just coronavirus, bullion prices may jump because of THIS reason

Kisan Vikas Patra scheme offers 6.9 pct interest; Which other schemes are offering HIGHER INTERESTS - Know here

Medical Oxygen Supply – Centre takes this step to meet demand as cases rise to over 2.6 lakhs

Facebook privacy breach - Lesson for Organisations to learn from this

In chat with Anil Singhvi, analyst Vikas Sethi recommends Hikal, Biocon as top buys for big gains

Irdai imposes Rs 51 lakh penalty on 4 insurers

Flavoured milk taxable at 12% under GST: AAR rules in Amul dairy case

This Google feature called 'Trash Bin' to deleting files on Android 12

Petrol, Diesel Price Today – Rates unchanged on Sunday in 4 metros; Do this to get latest prices in Delhi-NCR, Mumbai, Kolkata and Chennai

IndianOil Alert – Your Opportunity to earn WHOPPING Rs 2 Cr – Know terms and conditions; Do this and Win BIG

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved