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E.U. opens two antitrust probes on IBM
ANTITRUST
E.U. opens two investigations on IBM
The European Union opened two antitrust probes of IBM on Monday, accusing the U.S. technology giant of abusing its dominant position in the mainframe computer market. One investigation stems... from complaints by IBM competitors T3 and Turbo Hercules, who say that IBM "shuts out providers of emulation technology" by tying its mainframe hardware and software together.
The other probe, begun at the E.U. executive's own initiative, accuses IBM of "discriminatory behavior toward competing suppliers of mainframe maintenance services" and cites IBM's "restricting or delaying access to spare parts" for which it is the only source. Mainframes are powerful computers used by large corporations and governments to store and process critical business information.
The opening of an antitrust investigation does not mean the E.U. has proof of any wrongdoing.
-- Associated Press
REGULATORS
FTC bans 8 from selling mortgage relief
The Federal Trade Commission has banned eight individuals and companies from selling mortgage-relief services, after settling charges that they used false advertising to deceive borrowers facing foreclosure.
The FTC said Monday that it has ordered the firms and individuals to return $29.2 million in fees allegedly collected from clients. Some of the individuals charged are unable to pay, however, and the agency said it has agreed to suspend $11.5 million in judgments.
Since the housing crisis began, the FTC has brought 29 cases against those who have falsely promised mortgage relief in exchange for hefty fees up front. Some of the companies used names that could lead borrowers to think the firms were participating in the Obama administration's $75 billion mortgage modification effort, known as Making Home Affordable.
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