Logistics firms fined €169m in Europe for cartel activities

THIRTEEN logistics firms, including UPS, Panalpina and Expeditors , were fined a total of €169m (£141.6m) by the European Commission yesterday for cartel activities.

The European Commission said the companies fixed prices in the air freight forwarding business in four cartels between 2002 and 2007, identifying themselves in their secret talks with code names such as “asparagus” and “courgettes.”