Bizwatch

A Spoonful of Reform
The long, sweet deal for Europe's sugar producers seems to be coming to an end. The European Commission has announced plans to cut the guaranteed prices paid to sugar producers by 39% over the next two years. That should shave some €1.6 billion off the E.U. budget, and lower prices for consumers. This change to the 40-year-old sugar policy was widely anticipated after the World Trade Organization last year decided that the E.U. was infringing international trade rules by giving subsidies to its sugar exporters that distort the world market. But the cuts announced by...

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