Wedgwood fined in competition case

Luxury goods company Waterford Wedgwood and three other companies will have to pay out $2.9m in civil penalties in a settlement with New York’s Attorney General.

The settlement arises out of claims that Waterford Wedgwood and the other firms conspired to restrict competition in the sale of its Waterford products by national retailer, Bed, Bath & Beyond.

Wedgwood said it will pay out $500,000, though it has not admitted liability.