U.S. FTC orders nine companies to provide information in supply chain probe




  • In US
  • 2021-11-29 20:14:29Z
  • By Reuters
 

WASHINGTON (Reuters) -The U.S. Federal Trade Commission said on Monday it has started an investigation into supply chain disruptions and has ordered nine large companies to provide detailed information about the situation.

The agency said it has asked Walmart Inc, Amazon, Kroger Co, C&S Wholesale Grocers Inc., Associated Wholesale Grocers Inc., Berkshire Hathaway unit McLane Co Inc, Procter & Gamble Co, Tyson Foods, and Kraft Heinz to provide the information within 45 days of receiving the order.

Goals of the study will be to determine if supply chain problems have led to particular bottlenecks, anti-competitive practices or higher prices, the agency said in a statement.

At the White House, President Joe Biden is to meet with chief executives of major retailers and other companies on Monday to discuss how to move goods to shelves as the U.S. holiday shopping season begins in the shadow of the Omicron coronavirus variant.

FTC Chair Lina Khan said in a statement she was hopeful that the study would "shed light on market conditions and business practices that may have worsened these disruptions or led to asymmetric effects."

The FTC approved the study on a 4-0 bipartisan vote.

(Reporting by Diane Bartz and Eric Beech; Editing by Tim Ahmann and Angus MacSwan)

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