Greece fines local branches of J&J and Colgate-Palmolive for allegedly breaching a profit cap

ATHENS, Greece (AP) — Greek authorities have announced fines totaling 1.67 million euros ($1.81 million) on the local branches of two U.S.-based health care and consumer products giants for alleged breaches of a profit cap imposed amid the country’s cost-of-living crisis. The Development Ministry says Johnson & Johnson Hellas has been fined 1 million euros and Colgate-Palmolive Hellas 672,000 euros but gave no further details about the breaches. The fines were imposed under a law that sets a cap on gross profits for a broad range of key consumer goods and services until the end of 2023.