China has fined 10 Japanese auto parts firms more than $200 million in total for price-fixing, authorities said Wednesday, reportedly the biggest-ever such penalties, in the latest step of the country's anti-monopoly drive. The auto parts companies were found to have implemented monopoly pricing agreements for more than 10 years, the National Development and Reform Commission (NDRC) regulator said in a statement. It fined them a total of 1.24 billion yuan ($201 million), in what state broadcaster CCTV said was the biggest fine China had imposed since its anti-monopoly law took effect in 2008. "The companies... unlawfully affected prices of auto parts, finished vehicles and bearings in China and harmed the interests of downstream manufacturers and consumers," the NDRC statement said.
Police shot dead a knife-wielding man Tuesday near the U.S. town roiled by 10 days of protests over the police killing of an unarmed black teenager, threatening to further ratchet up tensions. It came as the attorney for the family of Michael Brown, who was shot dead by police in Ferguson on August 9, said that the 18-year-old college student's funeral would be held on Monday. Civic leaders in Ferguson, in Missouri, had called for "night-time quiet and reconciliation" after another night of protests and violence in the majority black town. The world's media descended on the street, dozens of reporters having been in nearby Ferguson covering the ongoing unrest that has cast an unfavorable light on the United States' racial divide, as well as law-enforcement tactics.