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DoJ investigates potential price-fixing in PVC pipe market

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PVC pipes for electric conduit and water

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The Department of Justice is investigating potential price-fixing in the market for PVC pipes, which follows allegations of a conspiracy in the $4bn market for municipal water pipes and so-called electrical conduit pipes made in a recent short seller report and civil class action lawsuits.

The probe was disclosed in a filing by manufacturer Otter Tail, which said on Thursday it had received a grand jury subpoena “for production of documents regarding the manufacturing, selling, and pricing of PVC pipe”.

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Plaintiffs in civil lawsuits had alleged that manufacturers, including Otter Tail, used a specialist News Corp-owned trade journal to facilitate price fixing by signalling and coordinating price rises following the Covid pandemic. 

One complaint filed in an Illinois court in August alleged that PVC & Pipe Weekly, published by News Corp’s Opis division, was “the proverbial smoke-filled backroom that enabled the defendants to discuss and signal their pricing activities”.

Otter Tail, a listed power utility that owns manufacturer Northern Pipe, said it fully intended to comply with its obligations and that it was too early to assess the potential impact of the investigation and civil litigation. 

It warned investors that an antitrust violation could have a “material impact” on its financial condition, and said it “believes that there are factual and legal defences to the allegations in the complaints and intends to defend itself accordingly”.

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The DoJ declined to comment.

Municipal water pipes and conduit pipes used to house electrical cables are commodity products typically sold in a variety of dimensions by distributors.

The DoJ investigation follows a report in July by the pseudonymous short seller firm ManBear, which said prices “defy economic logic” and that price inflation had pushed “profits to never-before-seen levels” that were unsustainable. 

ManBear disclosed short positions in Otter Tail, manufacturers Westlake and Atkore, and also Core & Main, a water pipe distributor, which the report alleged had “benefited materially from pipe inflation”.

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ManBear is a low-profile activist that has previously focused on antitrust questions, alleging price fixing in the chicken industry in a 2016 report. Chicken producer Pilgrims Pride subsequently agreed a $110.5mn settlement with the DoJ, while three of its executives and two at a rival were acquitted at trial on antitrust charges.

Otter Tail’s share price has dropped 14 per cent since the ManBear report, to $81.34 on Friday morning.

Core & Main is not a defendant to the civil suits. A spokesperson said it was unaware of any price fixing, that any suggestion of its involvement was baseless and that “honesty and integrity are part of our core principles”.  

Westlake previously declined to comment on pending litigation. Atkore did not respond to requests for comment.

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The civil suits also named News Corp as a defendant. The company said its product “provides newsworthy information to a wide variety of subscribers” and that it intended to fight the lawsuits, which it said were “entirely without merit”.

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Many Americans hold this view of England’s civil war

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Banker all-nighters create productivity paradox

I find it interesting to note (Letters, November 2) that the perception in the US that parliament’s victory in the English civil war was a victory for democracy goes back as far as John Adams and Thomas Jefferson. Certainly I found it a commonly-held view when I lived there. I thought that this idea, espoused by the Levellers, had been summarily dismissed at the Putney debates of 1647.

Bill Buckland
Chipping Campden, Gloucestershire, UK

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New attraction where you can ‘walk among dinosaurs’ is coming to a UK city – and kids will love it

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Prehistoric Planet: Discovering Dinosaurs is a new immersive exhibition opening in London next summer

A HUGE new dinosaur-themed attraction is launching in the UK next summer.

The new immersive attraction will open at the Lightroom – a space for artist-led shows near London King’s Cross train station.

Prehistoric Planet: Discovering Dinosaurs is a new immersive exhibition opening in London next summer

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Prehistoric Planet: Discovering Dinosaurs is a new immersive exhibition opening in London next summerCredit: Lightroom

Visitors will be invited to enter the world of Prehistoric Planet: Discovering Dinosaurs.

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Through the use of captivating storytelling, state-of-the-art visuals and groundbreaking technology, guests will see the role dinosaurs played in shaping the world 66 millions years ago.

Huge TV screens will play scenes from seasons one and two of Apple TV+’s Emmy Award-nominated series Prehistoric Planet.

Dinosaur-obsessed kids will be able to see some of their favourite ancient beasts, like a Tyrannosaurus rex, Mosasaurs and Adaltheriums, on digital screens.

Visitors will be able to travel alongside their favourite dinosaurs through desert landscapes, skies and the deep sea.

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The new exhibition will also feature never before seen material, including extended CGI scenes and illustrations.

Mike Gunton, Executive Producer of Prehistoric Planet and BBC History Unit Creative Director, said: “I always imagined Prehistoric Planet as like stepping into a time machine and travelling back to the time when dinosaurs ruled Planet Earth.

“The Lightroom experience will be just that! There’s nowhere else where you can be surrounded by the most amazing animals to have ever lived – see them all life-size, and really close-up, watch their dramatic lives unfold and understand what life was like 66 Million years ago.

“For a wildlife filmmaker, it’s a dream come true.”

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Even though it’s going to feature some of history‘s most formidable beasts, the new attraction will be suitable for all ages.

Stunning new Natural History gardens that are free to visit and are teeming with wildlife and giant dinosaur

Tickets cost £25 for adults and £15 for kids, with group discounts and educational rates also available.

The Lightroom is located inside the Coal Drops Yard – a shopping complex and public space in London King’s Cross.

There is one exhibition currently taking place at the Lightroom, The Moonwalkers: A Journey With Tom Hanks.

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However, this will end its run on November 10, with Vogue: Entering the runway opening on November 13.

There are plenty of things to do in the King’s Cross neighbourhood like the British Library.

King’s Cross Station even nearly became an airport in the 1930s – here’s why it never happened.

There are plenty of other immersive experiences taking place across the UK too, including The Outernet.

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Despite only opening in November 2022, the new experience has become London’s most-visited tourist attraction.

Located just a mere one-minute walk from Tottenham Court Road tube station, the Outernet is a set of buildings with interactive, floor-to-ceiling screens.

At the heart of it is the complex is the Now Building, where visitors will find huge screens displaying interactive images and atmospheric surround sound.

Three little-known places to take dinosaur-obsessed kids

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There are a number of little-known places across the UK that are perfect for any budding palaeontologists – and they could be fun for adults too.

  • Paradise Park in East Sussex has life-size moving dinosaurs, fossils and a Dinosaur Safari at Paradise Park
  • Knebworth House in Herefordshire has a dinosaur-themed adventure section
  • Combe Martin Wildlife and Dinosaur Park in North Devon has 19 animatronic dinosaurs, including a life-sized T-Rex, Dino Express train and a play zone.

Meanwhile, ROARR! Dinosaur Adventure in Norfolk is set to open a new land in 2026.

Gigantosaurus Land will be based on an animated series of the same name, which currently streams worldwide on services like Netflix, Prime Video, and Disney Plus.

Dinosaur-obsessed kids will be able to see some of their favourite ancient beasts, like a Tyrannosaurus rex on the big screen

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Dinosaur-obsessed kids will be able to see some of their favourite ancient beasts, like a Tyrannosaurus rex on the big screenCredit: Lightroom

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FT Crossword: Number 17,890

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FT Crossword: Number 17,890

FT Crossword: Number 17,890

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FT Crossword: Polymath number 1,308

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FT Crossword: Polymath number 1,308

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FT.com will bring you the crossword from Monday to Saturday as well as the Weekend FT Polymath.

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Interactive crosswords on the FT app

Subscribers can now solve the FT’s Daily Cryptic, Polymath and FT Weekend crosswords on the iOS and Android apps

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The iconic image of the Mexico Olympics recalled

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Banker all-nighters create productivity paradox

As a teenager in the 1960s and with more than a soft spot for Hendrix’s music, I raise a glass to Michael Hann’s choice of Jimi’s Woodstock performance of “Star-Spangled Banner” as the apotheosis of that anthem (“The life of a song”, Life & Arts, November 2).

But he gets the details about the Mexico City Olympics slightly wrong. Tommie Smith — surely the most elegant sprinter ever to grace the track — and John Carlos raised their gloved fists in a Black power salute, to the accompaniment of the US national anthem after the 200 metres (Smith taking gold in a new world record), not the 400 metres.

Smith, who had also broken the world 400 metre record the previous year, would undoubtedly have been part of the US 4x400m relay team but, along with Carlos, was suspended by the US management and sent home before that event took place.

Charles Mercey
Tellisford, Somerset, UK

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Small European island reveals plans for £2million airfield – with first tourist flights in 2026

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Gozo, a tiny island in the Mediterranean Sea, which is part of the Maltese archipelago, is set to benefit from a new airfield

A TINY island in Europe has revealed plans for a new airfield in a bid to encourage more long-term holidaymakers.

Gozo, part of the Maltese archipelago, is often visited as a day trip for people staying in Malta.

Gozo, a tiny island in the Mediterranean Sea, which is part of the Maltese archipelago, is set to benefit from a new airfield

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Gozo, a tiny island in the Mediterranean Sea, which is part of the Maltese archipelago, is set to benefit from a new airfieldCredit: Alamy
Most holidaymakers visit Gozo on a day trip from Malta - although officials are hoping the new airfield with entice more tourists to stay overnight

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Most holidaymakers visit Gozo on a day trip from Malta – although officials are hoping the new airfield with entice more tourists to stay overnightCredit: Getty

However, the Maltese government wants these day-trippers – who visit by ferry – to stay overnight.

Government officials hope to encourage more tourists to Gozo by opening a new rural airfield on the island.

Daily flights will operate between Malta and Gozo, with an aim to entice overnight holidaymakers onto the island.

Plans for the expanded airfield in Gozo were approved by the Planning Authority’s Board in October.

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The airfield is located on the outskirts of Xewkija, a village on the island, and is currently only used for emergency purposes.

While the space currently includes a disused heliport, the plans will see the runway extended so small fixed wing aircraft and helicopters can land on the airfield.

When the airfield opens in 2026, it is thought that there will be 15 flights per day, including scheduled and chartered flights.

Island officials hope the expansion of the airfield, and the direct flights between Malta and Gozo will attract more tourists to the tiny European island.

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Ronald Sultana, director of tourism and economic development at Malta’s ministry for Gozo and planning, said: “We are not against day tripping, but we want to translate a ratio of that day tripping into longer stays.

“It will become more sustainable and we will be avoiding mass tourism.”

Discover Europe’s Secret Isles: Top 8 Underrated Destinations

The new airfield will also serve as a base for activities like skydiving.

According to a local newspaper, the entire airfield project is expected to cost €2.5million (£2million).

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Upgrades to the heliport are set to cost €1.6million (£1.3million) with a further €861,000 (£716,000) being spent on three nine-seater aircraft.

Ticket could cost between £20 and £30 when they launch, according to local media.

Infrastructure on the island is also set to be upgraded as part of the plans.

A new sports centre and a range of boutique hotels are also slated to open on Gozo.

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Sultana added: “These are some of the different projects we’re trying to implement in order to turn Gozo into a destination that one can enjoy on a longer stay.”

It’s not the only new airport opening on a popular holiday island.

The Caribbean island of Barbuda has revealed plans for a £10.8million airport.

Greenland has revealed plans for three new airports, and Crete is opening its new Kastelli International Airport by 2026.

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What is it like to visit Gozo?

TRAVEL writer James Draven visited Gozo last year, he’s what he thought about the Maltese island.

More laid-back and rural than its sister island, locals say that Gozo is what Malta was like 50 years ago.

The ferry ride is quick and cheap, so you’d be daft not to take a day trip to see the golden sands of Ramla Bay, ancient salt pans on the shoreline, the Bronze Age hilltop citadel or Ggantija Temples, man-made structures that predate the pyramids of Egypt.

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Meanwhile, these are six secret holiday spots in Europe.

And this French holiday spot has been described as “unfairly overlooked”.

The new airfield is slated to open in 2026, with both scheduled and chartered flights set to operate between the islands

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The new airfield is slated to open in 2026, with both scheduled and chartered flights set to operate between the islands
New boutique hotels are also slated to open on the island, further encouraging holidaymakers to stay overnight

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New boutique hotels are also slated to open on the island, further encouraging holidaymakers to stay overnightCredit: Alamy

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