Construction firms fined $74 million for rigging bids

The U.K.'s Competition and Markets Authority has imposed a fine of nearly £60 million ($74 million) on 10 construction companies for illegally colluding to rig bids for demolition and asbestos removal contracts, Reuters reported. Cantillon Ltd., and Keltbray Holdings Ltd. were among the companies involved in the illegal cartel agreements. The collusion affected 19 contracts worth more than £150 million for demolition work in London, the Southeast, and the Midlands.