China fines Chrysler, Volkswagen for antitrust violations

Chinese regulators fined automakers Chrysler and Volkswagen for antitrust violations, the first monetary penalties levied against multinational corporations as part of a broad investigation.

The fines totaled $46 million for the carmakers’ monopolistic practices. In recent months, large foreign companies from industries including technology, pharmaceutical and automobile have faced raids and allegations of unfair practices, according to the New York Times.

Though Chinese officials have said they are not targeting multinational companies, the scrutiny comes as automakers in China are being flogged with international competition.

Read more from the New York Times.