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4th August Independent ORGANIC
FOOD BECOMES LATEST CASUALTY OF THE CREDIT CRUNCH
Dairy farmers are turning their backs on Britain's organic
milk market as economic pessimism dents consumers' previously
buoyant demand for organic produce. The organic goods
market at large is being "credit crunched",
particularly among new products like organic ready meals
and home-delivery vegetable boxes. Figures show there
has been a dramatic reversal in the numbers of dairy
farmers converting to organic farming from conventional
methods.
http://www.independent.co.uk/environment/green-living/organic-food-becomes-latest-casualty-of-the--credit-crunch-884237.html |
4th
August Independent APPLICATION FRAUD BY BORROWERS JUMPS
The number of people committing fraud by lying on application
forms for loans, credit cards and insurance products jumped
in the first half of the year, as consumers turned to
desperate measures to get their hands on new credit. According
to CIFAS, the fraud prevention agency, the number of discovered
cases of so-called "application fraud" during
the first six months of the year increased by more than
12% since the end of 2007. CIFAS said the most common
lie was a failure to disclose a previous address where
the applicant had built up a bad credit record. http://www.independent.co.uk/news/business/news/application-fraud-by-borrowers-jumps-884335.html
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4th
August Guardian POOREST TARGETED WITH ENERGY-SAVING SCHEMES
Ministers are examining a raft of green energy measures,
including bringing forward a £2.75 billion home
insulation programme funded by energy companies, to protect
Britain's poorest from the impact of rising gas and electricity
prices. They are looking at the idea of front-loading
a scheme known as the carbon emissions reduction target
(Cert) so that more money is spent sooner by energy companies,
with a greater proportion of the funding going to the
fuel-poor.
http://www.guardian.co.uk/money/2008/aug/04/energy.householdbills?gusrc=rss&feed=networkfront |
4th August Financial Times US MOVES TO TACKLE INSIDER
TRADING
A new system to overhaul insider trading investigations
is due to be agreed in the latest response from US regulators
to growing concerns about the extent of illegal activity
on global markets. The plan, which has been the subject
of negotiations for more than a year, is likely to be
submitted to the US Securities and Exchange Commission
for approval as early as this week. While the SEC will
remain the main markets watchdog, the new system would
reform the way stock exchanges, often the first lines
of defence against illegal activity, handle cases they
refer to the SEC. http://www.ft.com/cms/s/0/eccfaf56-61bb-11dd-af94-000077b07658.html
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4th
August Guardian DIGITAL SWITCHOVER SCHEME IS 'STRESSFUL,
CONFUSING AND UNFAIR'
Manufacturers and consumer groups have criticised a government
scheme designed to help elderly and vulnerable viewers
switch to digital television for sowing confusion and
helping BSkyB market its pay-TV services. The coalition
- including IT companies, telecoms groups and TV equipment
suppliers - also claimed Sky's set-top boxes were less
energy-efficient than rival devices, and complained that
the company was being allowed to offset this by handing
out low-energy light bulbs.
http://www.guardian.co.uk/media/2008/aug/04/digitaltvradio.television?gusrc=rss&feed=media |
4th August Telegraph
HALF OF BANKERS FACE ZERO PAYOUT AS BONUS POOLS DRY UP
City banks are preparing to cut bonus pools by 30% to
50% on last year, as the industry nears the first anniversary
of the credit crisis. Banks are preparing for preliminary
bonus pools to be down by as much as 50%, according to
industry recruiters and bankers. A swath of bankers -
some say up to half - will also face the "zero"
pay-out, where they miss out on any bonus for the year.
The figures could change if there are, as expected, further
redundancy rounds but end-of-year payouts are already
the subject of speculation at Canary Wharf. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/04/cnbonus104.xml |
5th August Reuters INTERNET
COMPANIES AGREE ON CHINA CODE OF CONDUCT
U.S. technology giants Microsoft Corp, Google Inc and
Yahoo Inc, in talks with other Internet companies and
human-rights groups, have reached an agreement on a voluntary
code of conduct for activities in China and other restrictive
countries.
http://www.reuters.com/article/technologyNews/idUSBNG13395520080805 |
5th August Guardian
POINTLESS PRINTOUTS LAY WASTE TO PROFIT
British office workers waste up to 120 billion pieces
of paper every year, costing businesses as much as 10%
of their turnover, according to Envirowise, a government-funded
programme that offers advice on sustainability to businesses.
The organisation has identified five types of print junkie,
including "old school" printers who feel they
cannot deal with email requests without printing a hard
copy, and "competitive" printers who believe
the more paper they have on their desks the more important
they look. "Trigger happy" staff who fail to
check the number of pages in lengthy documents contribute
to the failure of the "paperless office" dream.
http://www.guardian.co.uk/environment/2008/aug/05/waste.greenbusiness |
5th August Personnel
Today EMPLOYEES LOSE CONFIDENCE IN JOB SECURITY
Workers are rapidly losing confidence in the security
of their jobs, research has revealed. A survey of 2,000
adults by bank Lloyds TSB showed that more than a quarter
believed their job was less safe than a year ago. Just
one in 10 said their job had become more secure.
http://www.personneltoday.com/articles/2008/08/04/46978/employees-lose-confidence-in-job-security.html |
5th August Financial
Times TORIES PRAISE EXECUTIVE BONUS MODEL
The Tories yesterday praised John Lewis-style curbs on
executive rewards as a way of tackling the increasing
gap between rich and poor, in another incursion by David
Cameron into classic Labour territory.
http://www.ft.com/cms/s/0/3fc3b454-6285-11dd-9a1e-000077b07658.html |
5th August Times TAKEOVER
PANEL FORCES CENTRICA TO STATE INTENT OVER BRITISH ENERGY
The Takeover Panel has intervened in the row over the
future of British Energy, forcing Centrica to issue a
statement clarifying its position over a possible £22
billion merger with the nuclear generator.
http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article4460834.ece |
5th August Guardian
GOVERNMENT ANNOUNCES CRACKDOWN ON ROGUE EMPLOYERS
The government today announced a new crackdown on rogue
employers who abused vulnerable workers, aimed at cleaning
up the "dark corners" of the labour market.
An information campaign will be launched to raise awareness
of employment rights, and workers will be able to call
a special helpline to report mistreatment or illegal pay
rates. Unions welcomed the move, but expressed disappointment
that coverage of the Gangmasters' Licensing Authority
was not being extended to sectors such as construction,
care and hospitality.
http://www.guardian.co.uk/politics/2008/aug/05/tradeunions |
6th August Business
Green HOW CAN YOU TRUST YOUR CSR REPORT?
Only a quarter of the 3,000 companies expected to publish
a CSR report this year will include a third-party assurance
statement addressing the report's credibility and completeness.
While growing numbers of firms are producing CSR reports,
relatively few are treating them in the same way as annual
reports and employing third-party bodies to verify their
accuracy.
http://www.businessgreen.com/business-green/news/2223277/trust-csr-report |
6th August Guardian
DRAX PROFITS HALVE AS IT PAYS PRICE FOR SOARING COST OF
CARBON CREDITS
Drax has seen its profits plunge by almost half as it
pays the price for running the UK's biggest single carbon
polluting power station in an era of rising CO2 prices.
Last year Drax, the owner of the 4,000 megawatt (MW) coal-fired
plant in North Yorkshire, which supplies about 7% of the
country's electricity, spent £11 million buying
CO2 emission allowances to cover its carbon pollution.
But the company has already spent £107 million this
year under a second phase of the European emissions trading
scheme (ETS) when its allocation was reduced. http://www.guardian.co.uk/business/2008/aug/06/draxgroupbusiness.energy
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6th August China CSR
ENVIRONMENTAL ORGANIZATIONS CALL FOR GREEN COMMUTING IN
BEIJING
Sixteen environmental organizations including Friends
of Nature, Global Village of Beijing, China Environmental
Protection Foundation, and Green Home in Beijing, have
made a joint proposal to citizens and environmental volunteers
for a car-free day on August 8, 2008, the day on which
the opening ceremony of the Beijing Olympics will be held.
http://www.chinacsr.com/2008/08/06/2707-environmental-organizations-call-for-green-commuting-in-beijing/ |
6th August Greenbiz
GREEN ALLURE FOR COLLEGE GRADS
A new poll suggests that today's college students are
hoping for a job after school with a green-minded company.
Experience Inc. surveyed nearly 2,500 students and recent
grads in the US whom overwhelmingly expressed concern
about climate change. 81% saw significance in working
for an environmentally aware company, and 79% would probably
accept a job at an eco-friendly company over a conventional
one.
http://www.greenbiz.com/news/2008/08/06/green-allure-college-grads |
6th August Guardian
CAMBRIDGE SURVEY SHOWS NEW DOUBTS OVER WORKING MOTHERS
Support for gender equality appears to be declining across
Britain and America amid concern that women who play a
full role in the workforce do so at the expense of family
life, research from Cambridge University suggests today.
It found both women and men are becoming more likely to
believe the family will suffer if a woman works full-time.
http://www.guardian.co.uk/society/2008/aug/06/equality.gender |
6th August Financial
Times PROPOSAL ENVISAGES US-SCALE DAMAGES CLAIMS
Companies would for the first time face the prospect of
huge US-style consumer damages claims if radical plans
floated yesterday are adopted by the -government. http://www.ft.com/cms/s/0/7ee9cd6a-634f-11dd-9fd0-0000779fd2ac.html |
6th August Financial
Times PLAN TO CAP RED TAPE COSTS FOR 3 YEARS
Business will be promised three years without any overall
rise in the costs of red tape as part of a radical plan
to curb Whitehall's ability to regulate. The scheme is
to be announced by ministers today. Measures to tackle
climate change - a potentially very significant cause
of extra costs for companies - will be excluded from the
plan, under the proposals put out for consultation until
November.
http://www.ft.com/cms/s/0/34def6ce-634e-11dd-9fd0-0000779fd2ac.html |
7th August Guardian
WARNING: TOXIC DEBT CAN DAMAGE YOUR WEALTH
A panel of top Wall Street bankers has recommended cigarette-style
health warnings on complex financial instruments and suggests
that ill-considered bonus packages may be encouraging
financiers to take excessive risks. In a 176-page report
on the credit crunch, an industry-wide group of senior
executives has called for a package of changes to disclosure,
governance and stress-testing at banks, along with restrictions
on the sale of potentially toxic derivatives. http://www.guardian.co.uk/business/2008/aug/07/useconomy.creditcrunch?gusrc=rss&feed=business |
7th August Guardian
FORMER BA BOSSES FACE PRICE-FIXING CHARGES
The Office of Fair Trading is preparing to press price-fixing
charges against four former and current British Airways
executives. It is understood that individual charges will
be brought against Andrew Crawley, BA's head of sales,
former marketing director Martin George, the ex-communications
head Iain Burns and Alan Burnett, who once ran UK and
Ireland sales for the airline. The men were on the list
of 10 former and current BA executives identified by the
US government as being liable to possible extradition
and prosecution over a scandal that has already cost BA
£270 million in fines.
http://www.guardian.co.uk/business/2008/aug/07/britishairwaysbusiness.theairlineindustry?gusrc=rss&feed=business |
7th August Grocer FRANCE
WEIGHS UP JUNK FOOD 'FAT TAX'
Regulators in France are planning to raise tax on high-fat
food in a bid to combat rising obesity levels, according
to press reports. The proposed changes would see tax on
foods with very high fat, salt or sugar content lifted
from 5.5% to nearly 20%. The additional cash raised would
be spent on public healthcare. http://www.thegrocer.co.uk/grt_article.aspx?articleid=112770 |
7th August Financial
Times CLASH ERUPTS ON USE OF AIRLINE DATA TO FIGHT CRIME
Britain is at loggerheads with the rest of the European
Union over plans to restrict the use of airline passenger
lists for the prevention of serious crimes. http://www.ft.com/cms/s/0/14152182-6418-11dd-844f-0000779fd18c.html
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7th August Financial
Times WATCHDOG HITS AT RAIL CARRIAGE COSTS
Train companies funded by the taxpayer are likely to be
paying too much for carriages because the market is uncompetitive,
a watchdog will say today, sparking debate over whether
the problem is inflating passenger fares.
http://www.ft.com/cms/s/0/c2e2aa96-6417-11dd-844f-0000779fd18c.html |
7th August Mail 60%
OF LONG-TERM BENEFITS CLAIMANTS 'COULD GO BACK TO WORK',
ADMITS MINISTER
Six out of ten sickness benefits claimants could go back
to work, official research found yesterday.
http://www.dailymail.co.uk/news/article-1042141/60-long-term-benefits-claimants-work-admits-minister.html |
7th August Third Sector
CREDIT CRUNCH BOOSTS INVESTMENT IN SOCIAL BANKS
Social banks should benefit from the credit crunch by
using their "bullet-proof balance sheets" to
attract new depositors, a charity finance expert has said.
Richard Maitland, head of charities at investment house
Sarasin & Partners, said ethically responsible banks
that had not borrowed money to lend to others or suffered
any losses from bad investments, were in much better shape
than commercial high-street lenders. http://www.thirdsector.co.uk/Channels/Finance/Article/836800/Credit-crunch-boosts-investment-social-banks/
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7th August Personnel
Today THE ROUTE REVEALS WOMEN STILL APPEAR TO BE EARNING
LESS THAN MEN
Differences in pay between men and women are still alive
and well in the City with wealthy women earning an average
of 37% less than their high earning male counterparts.
These new figures from The Route City wealth club show
that men earn significantly higher average salaries (£445,000)
than women (£281,000).
http://www.personneltoday.com/articles/2008/08/07/47006/the-route-reveals-women-still-appear-to-be-earning-less-than-men.html |
8th August Guardian
DIAGEO ORDERS SCOTCH AND BIOFUEL COCKTAIL
Diageo, the market leader in scotch whisky, is to spend
£65 million on a bio-energy plant at its largest
distillery in a move that will turn 90,000 tonnes of "spent
wash" from the production process into steam and
electrical power. The drinks group, which makes Johnnie
Walker, Bell's and J&B, believes the facility at its
Cameronbridge distillery in Fife will be the largest single
investment in renewable technology by a non-utility company
in the UK. It says the plant will generate 6.5 megawatts
of electrical power and 20MW of thermal power, which is
enough to heat 12,000 homes. http://www.guardian.co.uk/business/2008/aug/08/diageo.energy |
8th August Financial
Times PUTTING THE PRIVATE SECTOR ON PARADE
If money is power, the £160bn ($310bn) the government
spends annually on buying goods and services from the
private sector should give it more than enough clout to
impose its values and priorities on suppliers. But the
array of differing - and often conflicting - objectives
the government has set for public sector procurement is
provoking tensions within Whitehall and worrying business.
http://www.ft.com/cms/s/0/d7abf7ea-64d3-11dd-af61-0000779fd18c.html |
8th August Guardian
MIS-SELLING OF 'SAFE' SECURITIES LANDS CITIGROUP WITH
$7.3 BILLION BILL
Citigroup faces a bill of $7.3 billion (£3.6 billion)
to settle charges that it misled 40,000 customers into
buying "safe" devices known as auction-rate
securities, which became almost impossible to sell when
the market for them abruptly seized up this year. The
US Securities and Exchange Commission and New York's attorney
general, Andrew Cuomo, yesterday announced that Citigroup
had agreed to pay $100 million in penalties over the mis-selling
scandal. http://www.guardian.co.uk/business/2008/aug/08/citigroup.useconomy
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8th August Guardian
NASTY SURPRISE FOR CHILDREN AS GERMANS PLAN KINDER EGG
BAN
German politicians have been accused of robbing youngsters
of one of the small joys of childhood after announcing
plans to ban the Kinder Surprise chocolate eggs, on the
grounds that they are a safety hazard. The children's
committee of the German parliament, which is responsible
for introducing legislation, fears children might mistake
the toys contained in the eggs for food and swallow them.
Critics have also said that mixing toys and food is not
helpful when trying to teach children the value of good
nutrition.
http://www.guardian.co.uk/world/2008/aug/08/germany.foodanddrink |
8th August Financial
Times CALL FOR MINIMUM WAGE FOR TRAINEES
Trade unions are calling on ministers to introduce a new
minimum wage for apprentices, who can be paid as little
as £1.50 ($2.91) an hour under the existing rules.The
call will be resisted by business leaders as an additional
burden on companies at a time when many cannot afford
to increase their payrolls. But the Trades Union Congress
on Thursday said it was unfair that 70 per cent of apprentices
were not covered by the minimum wage. http://www.ft.com/cms/s/0/d39ca58c-64d3-11dd-af61-0000779fd18c.html |
8th August Times ENERGY
SUPPLIERS SET TO STOKE ANGER WITH PRICE RISES
Energy companies are set to impose another round of punishing
price increases on consumers, despite a steep slide in
the wholesale price of gas. http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article4481276.ece |
9th August Guardian
BANK BOARDROOMS: 'CURIOUS' BANK BALANCE SHEET: PROFITS
LOST, £13BN; BOSSES' JOBS LOST, ZERO
More than £13bn has been wiped off the profits of
the UK's major banks in the year since the credit crunch
began. But, in contrast to the US, none of their executives
have paid the price.
http://www.guardian.co.uk/business/2008/aug/09/banking.creditcrunch
|
9th August Guardian
SECURITIES SCANDAL: UBS TO PAY OUT $19BN IN DEAL WITH
REGULATORS
UBS is to pay fines and reimburse customers to the tune
of nearly $19bn (£10bn) to compensate for the alleged
mis-sale of auction-rate securities. In a deal being finalised
last night, the Swiss bank was set to follow Citigroup
in settling charges by US regulators that auction-rate
securities were inappropriately pushed on unsuspecting
customers for months before the market for them seized
up in February. It is expected to pay $150m in fines.
Merrill Lynch has also offered to buy back securities
although it wants to take a full year to reimburse $12bn.
Wachovia Securities and the Bank of New York Mellon are
among other companies caught up in the affair.
http://www.guardian.co.uk/business/2008/aug/09/ubs.scamsandfraud |
10th August Observer
REGULATOR WILL CALL FOR BAA TO BE BROKEN UP
The Competition Commission is set to recommend the break-up
of the airports group BAA this month. This would force
the company to sell at least one of its facilities - most
likely Gatwick - for up to £2bn. Airlines such as
Ryanair and Virgin Atlantic have been pushing for a break-up
of BAA. They complain that it operates a monopoly in the
south east of England, and in Edinburgh and Glasgow, resulting
in poor service and unfair charges. http://www.guardian.co.uk/business/2008/aug/10/baa.regulators |
10th August Sunday Times
BAE IN NEW £20BN SAUDI ARMS DEAL
BAE Systems is in talks to sell dozens more Eurofighter
Typhoon aircraft to Saudi Arabia in a deal that will reawaken
bribery allegations made over earlier arms sales to the
Gulf kingdom. Senior defence-industry sources said last
week the negotiations, which have been under way for some
months, have been given added impetus by a controversial
House of Lords decision last month. The Lords said the
Serious Fraud Office had been right to suspend a probe
into alleged bribery, reversing an earlier Court of Appeal
decision.
http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article4493237.ece |
10th August Sunday
Times WEDDING LIST FIRM WRAPIT INVESTIGATED BY ADMINISTRATORS
ADMINISTRATORS for the failed wedding-list company Wrapit
are investigating whether the group was trading insolvently
before it went under last week. KPMG, the accountancy
firm carrying out the administration, will determine the
group's liquidity position in its investigation. Details
will be sent to creditors within eight weeks. It is against
the law for a company to trade while it is insolvent,
and directors can be held personally liable for debts
if they are found to be in breach of this.
http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article4493241.ece |
| 11th August Times BANKS BRACED FOR MORE BOND MIS-SELLING ACTION The Times reports that the issue of ARS is likely to cause further pain for financial institutions, with Wachovia and Credit Suisse amongst a number of banks still facing regulators' scrutiny over the selling of such securities. Merrill Lynch reached a settlement on 7 August 2008 in relation to its ARS sales. http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4500097.ece |
| 11th August Guardian EU PLANS WARNING LABELS ON ARTIFICIAL COLOURS Food and drinks containing any of six artificial colourings that may be linked to hyperactive behaviour in children will have to carry warnings, under a proposed EU deal. The requirement would apply to imports as well as those made in the EU. Hundreds of products containing the colourings will disappear from shops over the next year following the Food Standards Agency's (FSA) call for a voluntary ban on their use in food products. http://www.guardian.co.uk/lifeandstyle/2008/aug/11/foodanddrink.foodsafety?gusrc=rss&feed=networkfront |
| 11th August Financial Times CLIMATE THREAT TO BRAZIL FOOD EXPORTS Brazil's soya exports could slump by more than a quarter over the next 12 years as the result of climate change, according to a study to be presented at an agribusiness conference opening in São Paulo today. http://www.ft.com/cms/s/0/d5c8e73a-673a-11dd-808f-0000779fd18c.html |
| 11th August Guardian ACTIVISTS WARN OVER PLANTING OF GM TREES Genetically modified trees could be planted on land owned by the Forestry Commission as part of a research project into biofuels, in spite of concerns over ecological damage. http://www.guardian.co.uk/environment/2008/aug/11/gmcrops.biofuels |
| 11th August Financial Times CALL FOR INCREASE IN WATER BILLS Water companies in England and Wales will on Monday argue that water bills need to rise, adding to the strain on cash-strapped consumers, as they put forward their spending plans for the next five years to Ofwat, the industry regulator. http://www.ft.com/cms/s/0/70122bdc-6707-11dd-808f-0000779fd18c.html |
| 11th August Times RECYCLERS ARE CASHING IN ON THE FORTUNE IN YOUR BIN Householders are missing a chance to share in the results of huge profits generated by the soaring value of recyclable domestic rubbish, The Times has learnt. http://www.timesonline.co.uk/tol/news/environment/article4500730.ece |
| 11th August Guardian HIGH STREET BANKS FACE CONSUMER BOYCOTT OVER INVESTMENT IN COAL PROJECTS High street banks, including Royal Bank of Scotland, HSBC and Barclays, face a consumer boycott if they continue to channel billions of pounds of new investment into coal projects, campaigning groups warned last night. The warning came as 50 campaigners were arrested over the weekend at the climate camp set up to protest against building a new coal-fired power station at Kingsnorth in Kent. http://www.guardian.co.uk/business/2008/aug/11/banking.ethicalbusiness |
| 11th August International Herald Tribune GIANT U.S. RETAILERS LOOK TO SUN FOR ENERGY SAVINGS In recent months, chains including Wal-Mart Stores, Kohl's, Safeway and Whole Foods Market have installed solar panels on roofs of their stores to generate electricity on a large scale. The trend, while not entirely new, is accelerating as the chains seize a chance to bolster their environmental credentials and gain tax advantages by cutting back on their use of electricity from coal. http://www.iht.com/articles/2008/08/11/business/11solar.php |
| 11th August Guardian SMALL BUSINESSES ASK OFGEM TO CHECK THEIR SOARING ENERGY BILLS Small businesses are more vulnerable to exploitation and sharp practice on the part of energy suppliers than are residential customers, according to the British Chambers of Commerce. The BCC is urging Ofgem not to overlook business customers as the regulator carries out an investigation into the energy industry. http://www.guardian.co.uk/business/2008/aug/11/gas.oil |
| 11th August BBC INDONESIA CORRUPTION DRIVE BREEDS FEAR BBC News reports that Indonesia's new Corruption Eradication Commission (KPK) is creating a culture of fear among members of parliament. In the past six months the KPK has reportedly investigated six MPs and has uncovered a corruption scandal emanating from the parliament's financial commission which allegedly involves two cabinet ministers. BBC News reports that the commission, which has extensive powers of surveillance and investigation, has created fear amongst the lawmakers of Indonesia, possibly undoing some of its good work. Furthermore, analysts also reportedly say that it is the entire system which requires reform, including more transparent procurement and computer systems. Whether these measures are insufficient or counter-productive is a major consideration. However, BBC News reports that corruption remains a key issue facing Indonesia, brought into sharp relief by its current ranking of 143 on Transparency International's Corruption Perception Index 2007, only seven places above Zimbabwe. http://news.bbc.co.uk/1/hi/world/asia-pacific/7547414.stm |
| 12th August Independent WATER FIRMS PLAN 22 PER CENT RISE IN FURTHER MISERY FOR HOUSEHOLDERS Consumers face year after year of inflation busting rises in water bills after companies submitted plans for increases of up to 22 per cent over a five-year period to 2015. http://www.independent.co.uk/news/business/news/further-misery-for-householders-as-water-firms-plan-22-per-cent-bill-rise-891502.html |
| 12th August Times HIGH PLASTIC PRICES RAISE PROSPECT OF RUBBISH MINING The value of second-hand plastic has risen so rapidly that mining operations to dig it out of rubbish dumps are forecast to begin within the decade. http://www.timesonline.co.uk/tol/news/environment/article4510201.ece |
| 12th August Financial Times DRUG COMPANIES FACE FRESH ACTION AFTER TRIAL FAILURE Efforts to punish a group of drug companies allegedly behind one of the biggest price-fixing schemes to hit the public purse are being stepped up after the collapse of their criminal trial. http://www.ft.com/cms/s/0/32776f1c-6806-11dd-8d3b-0000779fd18c.html |
| 12th August Guardian MOBILE FIRMS URGED TO IMPROVE AGE FILTERING The mobile phone industry is considering introducing cinema-style classifications for mobile phone content, to prevent children using the latest internet-enabled handsets to access websites that contain unsuitable material. http://www.guardian.co.uk/business/2008/aug/12/telecoms.internetphonesbroadband |
| 12th August Independent GROCERIES SHRINK AS FIRMS TRY TO CLAW BACK COST INCREASES The size of some the UK's best-loved products has been secretly shrunk without any reduction in price, as manufacturers desperately try to claw back soaring inflationary costs. http://www.independent.co.uk/news/business/news/groceries-shrink-as-firms-try-to-claw-back-cost-increases-891562.html |
| 13th August Financial Times UBS CHIEFS KNEW OF RULE BREACHES Senior executives at UBS, the Swiss bank being investigated by US authorities, knew some of their bankers had acted in a way that meant they risked breaching American securities laws at least a year before the US inquiries began, a letter seen by the Financial Times shows. http://www.ft.com/cms/s/0/1400cc34-68a3-11dd-a4e5-0000779fd18c.html |
| 13th August Financial Times CREDIT SUISSE CLOSE TO SETTLEMENT OVER TRADER MISPRICING SCANDAL Credit Suisse is close to agreeing a potential £5 million settlement with the UK financial watchdog over lapses in its systems and controls relating to a trading scandal that generated a $2.7 billion (£1.4 billion) write-down for the Swiss bank earlier this year. An agreement with the Financial Services Authority could come as early as today, although negotiations could push it later into the week. http://www.ft.com/cms/s/0/9c85dbae-68cf-11dd-a4e5-0000779fd18c.html |
| 13th August Financial Times TIPS CHANGE MIGHT RAISE RESTAURANT COSTS BY UP TO 10% Restaurant owners could see operating costs rise by as much as 10% following the government's decision that tips should no longer count towards the minimum wage. The claim comes from PwC, the accountancy firm, which argues that stopping the controversial practice of using gratuities and service charges paid by credit cards to "top-up" wages could have a big impact on operators of large bars and restaurant chains where the practice is most common. http://www.ft.com/cms/s/0/3b6b3b34-68cf-11dd-a4e5-0000779fd18c.html |
| 13th August Independent SHELL REBUKED FOR 'GREENWASH' OVER AD FOR POLLUTING OIL PROJECT The Anglo-Dutch energy giant Shell misled the public about the green credentials of a vastly polluting oil project in Canada, in an attempt to assure consumers of its good environmental record, a media watchdog will rule today. In an embarrassing rejection of Shell's "greenwash", the Advertising Standards Authority said the company should not have used the word "sustainable" for its controversial tar sands project and a second scheme to build North America's biggest oil refinery. Both projects would lead to the emission of more greenhouse gases, the ASA said, ruling the advert had breached rules on substantiation, truthfulness and environmental claims. http://www.independent.co.uk/environment/green-living/shell-rebuked-for-greenwash-over-ad-for-polluting-oil-project-892863.html |
| 13th August Guardian 'SNOOPER'S CHARTER' TO CHECK TEXTS AND EMAILS Local councils, health authorities and hundreds of other public bodies are to be given the power to access details of everyone's personal text, emails and internet use under Home Office proposals published yesterday. Ministers want to make it mandatory for telephone and internet companies to keep details of all personal internet traffic for at least 12 months so it can be accessed for investigations into crime or other threats to public safety. http://www.guardian.co.uk/uk/2008/aug/13/privacy.civilliberties |
| 13th August Guardian GRANTS FOR CORNER SHOPS IN ANTI-OBESITY DRIVE TO SELL MORE FRUIT AND VEG Government grants to encourage corner shops to stock more fresh fruit and vegetables are to be trialled as part of a campaign to persuade people to eat more healthily, the Department of Health will announce today. It is hoped that the pilot scheme, aimed at small shopkeepers in deprived areas, will help tackle the growing problem of obesity. The shops will be offered grants to buy shelving, chiller cabinets and promotional materials to wean people away from a diet of ready meals and chips. http://www.guardian.co.uk/society/2008/aug/13/health.communities?gusrc=rss&feed=society |
| 13th August Times DOLPHIN-FRIENDLY LABEL 'MISLEADS CUSTOMERS' Labels stating that tuna is “dolphin-friendly” are misleading consumers into believing that the fish they are eating has been caught using environmentally friendly techniques, campaigners say. http://www.timesonline.co.uk/tol/news/environment/article4517778.ece |
| 14th August Financial Times OVERDRAFT FEES 'UNFAIR', SAYS OFT The Office of Fair Trading has told leading retail banks that it believes the fees levied on customers who exceed their agreed overdraft limits are unfair. The OFT has sent letters to eight high street lenders, including HSBC and Royal Bank of Scotland, setting out its preliminary views in connection with a High Court test case, that is scheduled to resume next month, over the fairness of overdraft charges. http://www.ft.com/cms/s/0/60734ff0-69a3-11dd-91bd-0000779fd18c.html |
| 14th August Financial Times AUDITORS INCREASE VIGILANCE Auditors are stepping up their scrutiny of companies amid increasing worries about the potential of the credit crunch and the economic slowdown to wreak widespread damage. The auditors are holding unusually early discussions with companies over year-end results, focusing on their financing and ability to continue as a "going concern". http://www.ft.com/cms/s/0/38fb0d00-69a3-11dd-91bd-0000779fd18c.html |
| 14th August Guardian FILM OF FISHERMEN DUMPING CATCH CAUSES UPROAR A British trawler has sparked an international outcry after being filmed taking a boatload of endangered fish caught in the Norwegian sector of the North Sea and then dumping the majority overboard in UK waters. Norwegian government coastguards filmed the crew of the Prolific, a Shetland-based trawler, openly discarding more than 5,000 kg of cod and other dead white fish, or nearly 80% of its catch. http://www.guardian.co.uk/environment/2008/aug/13/fishing.endangeredspecies |
| 14th August Guardian COMPANIES FACE CRACKDOWN ON ELECTRICITY GREENWASH Dozens of companies face having to report embarrassing sharp increases in their carbon pollution under government plans to crack down on greenwash. The move could undermine the environmental claims of firms such as BT, which have invested heavily in so-called green electricity tariffs to cut their carbon footprints. Under the proposed changes, companies using such green tariffs, which are also popular with eco-friendly domestic customers, will no longer be able to claim massive carbon savings by using power coming from renewable sources. http://www.guardian.co.uk/environment/2008/aug/13/carbonemissions.carbonfootprints |
| 14th August Personnel Today HEALTH AND SAFETY LAPSES COST TYRE FIRM £20,000 The Health and Safety Executive (HSE) has warned employers to ensure sufficient protection measures are in place after a company was forced to pay more than £20,000 in fines and compensation. Wolverhampton Magistrates' Court imposed a £13,500 fine on Goodyear Dunlop Tyres UK Ltd in Birmingham, with costs of £2,888 and an additional £4,000 in compensation after an employee suffered a fractured rib caused by a pallet that fell off a forklift truck. http://www.personneltoday.com/articles/2008/08/13/47094/health-and-safety-lapses-cost-tyre-firm-20000.html |
| 14th August Independent FSA FINES CREDIT SUISSE £5.6M FOR DELIBERATE MISPRICING The UK financial watchdog has slapped a £5.6m fine on Credit Suisse, one of its largest-ever censures, after the bank failed to prevent traders deliberately mispricing assets, which led to shock writedowns earlier this year. http://www.independent.co.uk/news/business/news/fsa-fines-credit-suisse-16356m-for-deliberate-mispricing-894702.html |
| 14th August Guardian ETHNIC MINORITY LAWYERS DISCRIMINATED AGAINST, REPORT FINDS The body that regulates solicitors has been discriminating against ethnic minority lawyers and subjecting them to potentially ruinous investigations, an independent report has concluded. http://www.guardian.co.uk/society/2008/aug/14/equality.race |
| 14th August Guardian JUNK FOOD MAY HARM TODDLERS' ABILITY TO LEARN Children who are brought up on a diet of junk food at the age of three are more likely to make slow progress at school, educational researchers have discovered. They found diet in the preschool years has more influence on a child's ability to learn than the quality of school dinners. http://www.guardian.co.uk/education/2008/aug/14/junk.food.toddlers |
| 15th August Financial Times UZBEKS URGED TO END CHILD LABOUR The four biggest groups representing the US retail and clothing industry are calling on Uzbekistan to end the widespread use of forced child labour in the harvesting of the country's cotton crop. Retailers and clothing companies in the US and the UK - including Tesco, Marks & Spencer, Target and Gap - have already taken measures to exclude Uzbek cotton from their merchandise following repeated reports of Uzbek children picking cotton for minimal payments. http://www.ft.com/cms/s/0/3a1e4e90-6a61-11dd-83e8-0000779fd18c.html |
| 15th August Financial Times TESCO PULLED INTO BRIBERY CASE OVER TURKISH SITE Tesco has become embroiled in a Turkish political scandal after the development of its largest store in the country was caught up in bribery allegations. An entrepreneur, whom the UK retailer paid $13 million (£7 million) for a site near Istanbul, is accused of bribing a politician of the governing AKP party with $1 million to push through a planning application. Tesco is not accused of any wrongdoing in the case. http://www.ft.com/cms/s/0/513dabf8-6a60-11dd-83e8-0000779fd18c.html |
| 15th August Financial Times UNIONS STEP IN TO SAVE WORKERS' FEET City bankers and bosses of upmarket stores who force female staff to wear fashionable high heels as part of their dress code have become the latest bête noire of the trade unions. The TUC yesterday took time off from the class struggle to launch a campaign to preserve the feet of oppressed office and shop workers. The union body researching a new guide - Working Feet and Footwear - claimed to have found that "a number of big city institutions and upmarket shops insist female staff who deal with the public wear slip-on shoes http://www.ft.com/cms/s/0/2bce5f88-6a61-11dd-83e8-0000779fd18c.html |
| 15th August Guardian SUFFOCATING DEAD ZONES SPREAD ACROSS WORLD'S OCEANS Man-made pollution is spreading a growing number of suffocating dead zones across the world's seas with disastrous consequences for marine life, scientists have warned. The experts say the hundreds of regions of critically low oxygen now affect a combined area the size of New Zealand, and that they pose as great a threat to life in the world's oceans as overfishing and habitat loss. http://www.guardian.co.uk/environment/2008/aug/14/pollution.endangeredhabitats |
| 15th August Financial Times DUBAI FUND CHIEF HELD AS GRAFT PROBE WIDENS Dubai has widened an anti-corruption investigation to include Adel Shirawi, vice-chairman of Istithmar World, one of the government’s investment funds, and a former chief executive of Tamweel, the home finance company. The detention of such a senior official highlights efforts by the authorities to root out corruption in state-linked enterprises working in the emirate’s booming property sector. http://www.ft.com/cms/s/0/6b958af2-6a24-11dd-83e8-0000779fd18c.html |
| 16th August Guardian FOOD: FARMERS SAY SUPERMARKETS MUST FOOT BILL FOR PRICE WAR Farmers and food producers are demanding reassurance from the big supermarkets that growers and processors will not be asked to foot the bill for the new round of price promotions. They fear big grocers will renege on promises to pay for new price cuts out of their own margins, and that farmers will be told to slash farm gate prices at a time when their costs are rising rapidly. Their concerns mounted this week when Tesco launched a two-litre milk brand at £1.06 and Asda responded with two pints for 50p. The National Farmers' Union met Tesco buyers to demand reassurance that its members would not be asked to underwrite the milk price cuts. A spokeswoman for the retailer said: "We are absorbing the costs. The investment is at the expense of Tesco, not the farmers.” http://www.guardian.co.uk/business/2008/aug/16/farmers.supermarkets |
| 17th August Observer HEALTH CHIEF ATTACKS DRUG GIANTS OVER HUGE PROFITS• WATCHDOG SLAMS HIGH MEDICINE PRICES The drugs industry is overpricing vital new medicines to boost its profits, the chair of the health watchdog Nice warns today in an explosive intervention into the debate over NHS rationing. Professor Sir Michael Rawlins spoke out after critics last week accused the National Institute for Health and Clinical Excellence (Nice) of 'barbarism' for refusing to approve expensive new kidney drugs for NHS use, on the grounds that they were not cost-effective. In an outspoken interview with The Observer, he warned of 'perverse incentives' to hike the prices of new drugs - including linking the pay of pharmaceutical company executives to their firm's share price, which in turn relied on keeping profits healthy. Traditionally some companies charged what they thought they could get away with, he said. http://www.guardian.co.uk/uk/2008/aug/17/pharmaceuticals.nhs |
| 17th August Financial Times OECD ATTACKS UK FAILURE ON CORRUPTION Leading industrialised nations have fired a stinging broadside at Britain over its failure to tackle corporate bribery overseas, at a time when other countries are pursuing big-name multinationals. The anti-bribery working group of the Organisation for Economic Co-operation and Development attacked London’s performance in tackling corporate bribery overseas in a letter delivered to the government in June, The Financial Times reported. The message suggests London can expect a tough time at the next meeting of the OECD anti-bribery group in October, where members could take the embarrassing and unprecedented step of pushing for Britain to be suspended. http://www.ft.com/cms/s/0/89c2ba46-6c71-11dd-96dc-0000779fd18c.html?nclick_check=1 |
| 18th August Guardian WATCHDOG ACCUSES DRUG COMPANIES OF PROFITEERING An independent health watchdog has attacked drug companies for excessive profits and primary care trusts for making the availability of drugs a postcode lottery. Yesterday Professor Sir Michael Rawlings, chairman of the National Institute for Clinical Excellence, which evaluates new drugs, said drug companies had a "perverse incentive" to charge high prices because of profit-related pay deals for executives. http://www.guardian.co.uk/uk/2008/aug/18/1 |
| 18th August Guardian HEATHROW EXPANSION: THIRD RUNWAY WILL BREACH POLLUTION LIMIT, EU WARNS The European Union has waded into the debate over expanding Heathrow airport by warning that plans for a third runway will "significantly" breach air pollution guidelines. Stavros Dimas, the European commissioner for the environment, said he will contact the British government over the issue, putting further pressure on ministers. He said an expanded Heathrow will miss EU-imposed nitrogen oxide targets after January 2015 - the latest possible date that it can meet the guidelines. http://www.guardian.co.uk/environment/2008/aug/18/pollution.carbonemissions |
| 19th August Financial Times CITI TO BOLSTER CHARITY'S FINANCING SCHEMES Citigroup will today launch a $30 million plan aimed at making it easier for small US businesses such as restaurants and taxi companies to get the small loans needed for their expansion. The US financial services group's alliance with Accion, a Texas-based charity, is believed to be the first for-profit microfinance venture in the US, and builds on Citi's microfinance initiatives in Mexico. http://www.ft.com/cms/s/0/e8e7f036-6d43-11dd-857b-0000779fd18c.html |
| 18th August Telegraph NESTLE CRITICISED FOR USING DALEY THOMPSON TO SELL SWEETS Nestlé has been criticised by an influential consumer watchdog, for using Daley Thompson, one of Britain's most popular Olympic heroes, to promote sweets and chocolate bars to children. http://www.telegraph.co.uk/news/2574074/Nestle-criticised-for-using-Daley-Thompson-to-sell-sweets.html |
| 18th August Financial Times MORE TRANSPARENCY URGED FOR ENERGY COMPANIES Britain's big energy companies should be forced to open their books to show separately how much profit they make from their supply and generation arms, John Hutton, business secretary, has argued. Mr Hutton has urged Ofgem, the energy regulator, to address the "lack of transparency" in the accounts of Britain's big companies, which he claims damages the reputation of the industry and confuses the public. http://www.ft.com/cms/s/0/34dc09c0-6cbb-11dd-96dc-0000779fd18c.html |
| 18th August Financial Times MI5 SEEKS GAY SPIES IN ATTEMPT TO EXPAND ITS RECRUITING BASE MI5, the UK security service, is looking to recruit more gay staff - following many investment banks and private sector employers - in a move that reflects dramatic changes in the attitudes of the British establishment over the last decade. Stonewall, the gay lobby group, has been hired to advise MI5, the domestic arm of the intelligence services, on how to encourage its spies to be more open about their sexuality and how to attract more gay applicants for posts. http://www.ft.com/cms/s/0/5ae93520-6cbb-11dd-96dc-0000779fd18c.html |
| 9th August Grocer REDUNDANCY FEARS AS M&S EYES BENEFITS CUT Marks & Spencer has moved to cut back its redundancy benefits, according to press reports, in a move likely to cause alarm among staff at the high street giant. The Times claims M&S has drawn up plans to cut its maximum payout for redundancies from 70 weeks’ pay to 52 weeks, according to length of service. http://www.thegrocer.co.uk/grt_article.aspx?articleid=113031 |
| 19th August Sydney Morning Herald FIRE BRIGADE CASH ON TAP: ICAC Two government contractors in Australia managed to siphon off more than $2 million earmarked for the creation of a new fire brigade using false or fake tenders and documents, The Sydney Morning Herald reported. The two contract managers indicated that it was standard office practice and that corruption is more widespread. http://www.smh.com.au/news/national/fire-brigade-cash-on-tap-icac/2008/08/18/1218911572799.html |
| 19th August Financial Times MINISTERS FACED WITH DELAYS IN ECO-TOWNS TIMETABLE Ministers have been forced to delay the timetable for implementing Gordon Brown's eco-towns scheme, in the latest setback to the project. A shortlist of applicants due to be published in October will not come out until next year, it has emerged. In addition, there is evidence that ministers may be starting to pull back from their target of 10 towns. http://www.ft.com/cms/s/0/986dbc84-6d85-11dd-857b-0000779fd18c.html |
| 19th August Times BP TO DO AWAY WITH NINE-DAY FORTNIGHT BP is to scrap its nine-day fortnight for thousands of workers as part of a wide-ranging efficiency drive. The decision was taken after a review of business practices by an unnamed firm of consultants. http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article4561145.ece |
| 19th August Financial Times INDUSTRY TO FIGHT TOBACCO DISPLAY BAN Tobacco companies and retailers are preparing to fight proposals that would further restrict cigarette sales. They say there are more effective and cheaper ways to regulate the industry. A consultation period on the Department of Health’s ‘future of tobacco control’ document ends on September 8 and opponents are railing against some of the plans, which could see the end of vending machines and put tobacco products out of sight below shop counters. http://www.ft.com/cms/s/0/b96c0c94-6d79-11dd-857b-0000779fd18c.html |
| 20th August Times MIKE TURNER DOES THE BUSINESS AT BAE SYSTEMS BAE Systems has been transformed under Mike Turner, thanks to his renegotiation of MoD contracts and its growth in the US. But this analysis of Turner’s career at BAE by David Wighton says his blind spot has been the issue of ethics. As a BAE lifer, he has failed to appreciate how damaging the constant allegations of bribery and corruption have been. http://business.timesonline.co.uk/tol/business/columnists/article4569234.ece |
| 20th August Times DRUG TRIALS IN INDIA UNDER INVESTIGATION AFTER 49 BABIES DIE AT LEADING HOSPITAL Forty-nine babies have died in drug tests at one of India’s top hospitals, raising concerns that ethical standards are being compromised as the country becomes the world’s leading destination for clinical trials. There are fears that the increasingly lucrative drug-testing industry may be cutting corners because of a shortfall of staff trained in medical ethics and best practice. Manish Tiwari, a spokesperson for the Congress party, which heads India’s coalition Government, said: “The practice of using infants like guinea-pigs for drug testing must end.” http://www.timesonline.co.uk/tol/news/world/asia/article4568717.ece |
| 20th August Independent PRICE COMPARISON SITES MISLEADING CONSUMERS BRITAIN'S GROWING NUMBER of financial comparison websites are misleading consumers, often failing to provide users with the cheapest insurance quotes or best value financial products, in spite of claims that they can save their customers thousands of pounds. According to a study conducted by the consumer group Which? and research carried out by The Independent, the best quotes from different comparison sites can vary by hundreds of pounds, even when consumers enter exactly the same information into each site. http://www.independent.co.uk/money/invest-save/price-comparison-sites-misleading-consumers-902886.html |
| 20th August Independent TESCO EXAGGERATED SIZE OF PRICE CUTS Tesco exaggerated the cheapness of its products in the battle for budget shoppers, the advertising watchdog has ruled. The Advertising Standards Authority said Britain's largest supermarket suggested it was up to 53% cheaper than Asda and Morrisons for a basket of common items. But, the ASA ruled, the ads gave a misleading impression because Tesco's "cheap" products were on a promotion for a limited time and the biggest savings came from less common items such as branded dishwasher tablets and dog food. http://www.independent.co.uk/news/business/news/tesco-exaggerated-size-of-price-cuts-902891.html |
| 20th August Guardian REVEALED: THE MASSIVE SCALE OF UK'S WATER CONSUMPTION The scale of British water consumption and its impact around the world is revealed in a new report today, which warns of the hidden levels needed to produce food and clothing. The UK has become the sixth largest net importer of water in the world, the environment group WWF will tell a meeting of international experts in Stockholm, with every consumer indirectly responsible for the use of thousands of litres a day. Only 38% of the UK's total water use comes from its own resources; the rest depends on the water systems of other countries. http://www.guardian.co.uk/environment/2008/aug/20/water.food1?gusrc=rss&feed=networkfront |
| 20th August Independent PEERS CRITICISE 'FAST FASHION' The House of Lords Science Committee has condemned the British fashion industry for encouraging a "throwaway society". A highly critical report attacked the culture of "fast fashion" yesterday as the committee urged ministers to do more to cut Britain's mountains of commercial and domestic waste. The House of Lords committee also bemoaned the growth of electronic goods which are thrown away even though they still work. http://www.independent.co.uk/news/uk/politics/peers-criticise-fast-fashion-902889.html |
| 20th August International Herald Tribune BRITISH REGULATOR ORDERS BREAKUP OF BAA AND SALE OF UK AIRPORTS BAA, the owner of Heathrow Airport in London, should be broken up and its Gatwick and Stansted terminals sold off to foster competition, antitrust regulators said today. The British Competition Commission also said in a Regulatory News Service statement that BAA, owned by Ferrovial of Spain, should also be required to sell either the Edinburgh or Glasgow airports in Scotland. http://www.iht.com/articles/2008/08/20/business/20baa.php |
| 21st August Guardian JAPAN TO LAUNCH CARBON FOOTPRINT LABELLING SCHEME Japan is to carry carbon footprint labels on food packaging and other products in an ambitious scheme to persuade companies and consumers to reduce their greenhouse gas emissions. The labels, to appear on dozens of items including food and drink, detergents and electrical appliances from next spring, will go further than similar labels already in use elsewhere. http://www.guardian.co.uk/environment/2008/aug/20/carbonfootprints.carbonemissions |
| 21st August Financial Times CLIMATE RESOLUTIONS ‘HAVING BIG IMPACT’ A coalition of investors and environmental groups claimed yesterday that climate change-related shareholder resolutions filed in the US this year had achieved breakthrough results, reflecting growing investor concerns over global warming. Of 57 resolutions filed by a range of socially concerned investors, almost half were withdrawn after companies ranging from Continental Airlines to El Paso made commitments on setting targets for reducing greenhouse gas emissions and other issues. http://www.ft.com/cms/s/0/69bb6282-6edf-11dd-a80a-0000779fd18c.html |
| 21st August Grocer WAITROSE PIONEERS BIO-ENERGY WASTE SCHEME Waitrose is trialling a new scheme to turn waste food into renewable energy at five of its supermarkets. Waitrose claims it is the first major retailer in the UK to trial the process, whereby micro-organisms break down waste food and other biodegradable products into methane-rich biogas. The gas is then used to generate electricity while remaining waste can be used as organic fertiliser. http://www.thegrocer.co.uk/grt_article.aspx?articleid=113032 |
| 21st August Independent CHURCHILL CENSURED FOR MISLEADING ADS Churchill Insurance has been publicly censured by the Advertising Standards Authority (ASA) for making a false claim in its home insurance adverts broadcast on national television earlier this year. http://www.independent.co.uk/news/business/news/churchill-censured-for-misleading-ads-904240.html |
| 21st August CSR Wire SOCIAL INVESTORS AND HUMAN RIGHTS ACTIVISTS PRESSURE GOVERNMENT OF UZBEKISTAN Socially conscious shareholders, pension funds and human rights advocates have joined together to demand that the government of Uzbekistan stop using forced child labour in its cotton harvest. Every year, the government of Uzbekistan reportedly mobilizes hundreds of thousands of children - many from ten to fifteen years old - for the manual harvesting of cotton. http://www.csrwire.com/News/12867.html |
| 21st August Telegraph PIPELINE LEAK MAY INCREASE GAS BILLS The prospect of further energy price rises this winter heightened as wholesale gas prices soared by 15pc in one day after a leak was detected in a key Norwegian pipeline. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/21/cnnorway121.xml |
| 21st August Marketing Charts CORP. COMMUNICATORS WANT TO BOOST CSR, SPLIT OVER REASONS WHY Communications professionals from around the world want to raise the profile of their organisations’ corporate social responsibility (CSR) efforts by beefing up communications and backing stand-alone CSR departments, MarketingCharts reports.In a poll by Ragan Communications and PollStream, some 70% of the 439 respondents indicated that their companies practice and communicate CSR. 43% would like to increase their CSR programmes, for various reasons: some 40% say it would improve employee engagement, 50% say it would enhance PR and corporate image, 7% hope to grow sales and 4% want to attract new employees http://www.marketingcharts.com/interactive/corp-communicators-want-to-boost-csr-split-over-reasons-why-5636/ |
| 22nd August Guardian WATCHDOG FINES CAR DEALERS OVER PPI MIS-SELLING The City watchdog yesterday handed out fines of more than £175,000 to five car dealers found guilty of mis-selling payment-protection insurance policies. The Financial Services Authority said the fines illustrated that it would crack down on lenders and their agents when they put customers at risk of being mis-sold the insurance products. http://www.guardian.co.uk/business/2008/aug/22/insurance.regulators |
| 22nd August Independent STOP FIRING CRUCIAL BACK-OFFICE STAFF, FSA WARNS BANKS The Financial Services Authority has told investment banks to improve checks to prevent mis-pricing of trading positions and to stop firing staff who work in valuation control functions. Hector Sants, the FSA's chief executive, sent his warning to the bosses of banks and investment firms last Wednesday, the day the watchdog announced a £5.6 million fine for Credit Suisse for failing to prevent traders deliberately mis-pricing assets. http://www.independent.co.uk/news/business/news/stop-firing-crucial-backoffice-staff-fsa-warns-banks-905550.html |
| 22nd August Guardian PENSIONERS OUTNUMBER UNDER-16S FOR FIRST TIME For the first time, the UK has more people of pensionable age than children under 16, the Office for National Statistics revealed yesterday. Confirmation of the ageing nature of Britain's population comes as the improvement in mortality rates seen in the second half of the 20th century is shown to have accelerated during this decade. The changing age structure of the population points to the need for radical changes in health and social care. http://www.guardian.co.uk/world/2008/aug/22/population.socialtrends?gusrc=rss&feed=networkfront |
| 22nd August Personnel Today TUC RENEWS CALLS FOR AN EXTRA BANK HOLIDAY IN LATE OCTOBER The union umbrella body this morning published a report saying the day should be called Community Day and be used to encourage volunteering. The extra day off would also boost consumer spending and employee morale, said the report, ‘Why the UK can afford a Community Day’. http://www.personneltoday.com/articles/2008/08/22/47173/extra-bank-holiday-call-renewed-by-tuc-in-bid-to-promote-volunteering.html |
| 23rd August Guardian Drug giants accused over doctors' perks Drug companies are spending millions of pounds every year on all-expenses-paid trips to conferences around the world for doctors and other hospital staff, in what critics say is a massive marketing exercise dressed up as medical education. The Guardian can reveal the scale of pharmaceutical company sponsorship following an examination of the registers of gifts and donations to doctors that all hospitals are required to keep. They show considerable largesse - from drug companies regularly picking up hefty bills for travel to international conferences in Europe, Asia and America, to specialist nurses' salaries, and weekly sandwich lunches for hospital staff training sessions. http://www.guardian.co.uk/society/2008/aug/23/health.pharmaceuticals |
| 23rd August Guardian CORPORATE GOVERNANCE: EXILED HEAD OF BP'S TROUBLED RUSSIAN VENTURE FILES COMPLAINT OVER TREATMENT BY LABOUR AUTHORITIES The chief executive of TNK-BP, Robert Dudley, has complained to Russian authorities about the Moscow labour inspectorate's treatment of the company. In a letter this week to six government organisations, Dudley said the inspectorate's actions could be seen as an abuse of its powers. http://www.guardian.co.uk/business/2008/aug/23/bp.russia |
| 24th August Observer BANK LOSES FACE OVER BRIAN THE SUMO FAKE One of the world's biggest banks has been accused of 'cultural insensitivity' after dressing up an overweight white man to look like a sumo wrestler. HSBC, which calls itself 'the world's local bank', is running a series of billboard and print advertisements featuring the wrestler alongside the slogan: 'Fixed savings rates that won't budge.' The campaign has upset members of Britain's Japanese community, who claim that the man's skin tone has been darkened and that make-up has been applied that appears to narrow his eyes. The pseudo sumo - a model known only as Brian - has been given a Japanese-style wig and is dressed in a traditional mawashi belt. http://www.guardian.co.uk/business/2008/aug/24/hsbcholdings.banking |
| 24th August Independent on Sunday BRITISH FIRMS TRADING IN ZIMBABWE REFUSE TO SIGN ETHICAL CODE Ministers mounted a secret campaign to persuade huge British firms to adopt "an ethical approach" to their investments in Zimbabwe, amid concerns that some could be "silently complicit" in Robert Mugabe's reign of terror, documents obtained by The Independent on Sunday have revealed. A clutch of internal Foreign Office (FCO) emails lay bare the Government's deepening fears over the damage 16 companies trading with the pariah state could do to Britain's reputation as it struggled to defuse the crisis over Mr Mugabe's "stolen election". But they also demonstrate how ministers were powerless to control the firms, including Barclays, Shell and BP, by persuading them to sign up to a voluntary agreement to uphold human rights in Zimbabwe. The FCO last night confirmed that ministers had failed to thrash out an "optional ethical code" with investors. http://www.independent.co.uk/news/uk/politics/british-firms-trading-in-zimbabwe-refuse-to-sign-ethical-code-907221.html |
| 25th September Times TESCO CHIP-AND-PIN LAPSE LEAVES IT OPEN TO DRIVE-IN FRAUD AT MANY PETROL OUTLETS Tesco is exposing credit and debit cardholders to fraud because of delays in the rollout of chip-and-PIN technology at its pay-at-pump petrol stations, The Times has learnt. Five years after chip and PIN was first introduced, Britain's biggest supermarket retailer is yet to adopt the technology - which is designed to protect customers from fraud - in all of its stations. It has failed to install chip-and-PIN readers at pumps in almost 10 per cent of stations that allow customers to fill up, pay and drive off without entering the shop. The discovery of the loophole will be an embarrassment to the chain, which owns about 5 per cent of petrol stations in the UK. http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article4602153.ece |
| 25th August Financial Times LEAP IN INQUIRIES ON HOW TO SACK STAFF Employment lawyers and legal helplines are reporting a sharp rise in businesses seeking advice on how to sack staff, suggesting a further surge in redundancies may be on the way. Allianz, the insurance group, says its legal helpline Lawphone last month received a record number of calls seeking advice on redundancy issues. http://www.ft.com/cms/s/0/e728bc36-7206-11dd-a44a-0000779fd18c.html?nclick_check=1 |
| 25th August GreenBiz U.K. MANUFACTURERS INCREASE GREEN FOCUS, GAPS EXIST BETWEEN LARGE AND SMALL COMPANIES: SURVEY The U.K. manufacturing sector has an overall positive view of environmental issues, with a majority of companies taking action, but smaller companies are having a tougher times, according to a recent survey. Envirowise and EEF talk to 562 companies for the report "Measuring performance - Environment survey 2008." The manufacturing companies represent more than 122,000 employees. http://www.greenbiz.com/news/2008/08/25/uk-manufacturers-green-focus |
| 26th August Financial Times WOMEN STILL BEHIND IN THE BOARDROOM Female directors earn smaller performance-related bonuses than male counterparts, according to a new study that says the disparity reflects sexist attitudes. Researchers at Exeter University found that male executive directors in the best-performing companies were paid bonuses 263% bigger than those working for the worst performers. For female directors the difference is a mere 4%. http://www.ft.com/cms/s/0/59ca1832-72b3-11dd-983b-0000779fd18c.html |
| 26th August Guardian PROPERTY TAX LEAVES CITIES 'LOOKING LIKE BROKEN TEETH' One of the government's most senior advisers on the regeneration of cities has warned that a tax imposed on empty commercial buildings is threatening to derail efforts to breathe new life into some of the most blighted parts of Britain. John Nicholls, who chairs a group representing the government-funded urban regeneration companies (URCs), said yesterday that owners are demolishing empty buildings to avoid paying the tax introduced in the most recent budget, leaving parts of the country "resembling bomb sites". Regeneration projects had been rendered unworkable, threatening jobs and new homes, he said. http://www.guardian.co.uk/politics/2008/aug/26/development.tax |
| 26th August Financial Times US SCHOOL REVAMPS MBA In its newly redesigned business school program, Columbia University in New York will add a non-credit corporate governance module, reported the Financial Times, aimed at enhancing understanding of students’ responsibilities as managers and directors of companies, as well as understanding the importance of corporate governance in all aspects of business. http://www.ft.com/cms/s/2/67ea5d86-7363-11dd-8a66-0000779fd18c,dwp_uuid=02e16f4a-46f9-11da-b8e5-00000e2511c8.html |
| 26th August Times BIG BUSINESS FINDS WAY ROUND RULES BY PAYING FOR THE WHOLE SHOW Thousands of lobbyists, corporate sponsors and wealthy donors have descended on the Democratic convention where their deep pockets are once again securing them privileged access, the best seats . . . and maybe a few favours from Congress or a Barack Obama administration. Despite Mr Obama announcing that neither his campaign nor his party would accept money from lobbyists and new ethics rules, driven by the Democrats through Congress, designed to ban legislators from accepting gifts, meals, trips or tickets from lobbyists and corporations, the loopholes are so big that “ you could stage a convention in them”. http://www.timesonline.co.uk/tol/news/world/us_and_americas/us_elections/article4608529.ece |
| 26th August Telegraph MORE PARENTS TO GET CHANCE OF FLEXIBLE WORKING More than 4.5 million working parents will get the right to ask their employer for family-friendly hours under Government plans. http://www.telegraph.co.uk/news/uknews/2621571/More-parents-to-get-chance-of-flexible-working.html |
| 26th August Telegraph SKILLS GAP WIDENS AS IT IS SENT OFFSHORE Offshoring low-level IT jobs is causing a skills gap in Britain, new research has shown. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/26/cnit126.xml |
| 27th August Financial Times CALLS TO DELAY FLEXIBLE WORKING REJECTED Employers have less than eight months to prepare for an extra 4.5 million staff gaining the right to request flexible working after the government on Tuesday rejected business pleas to delay the regulations in the face of the economic downturn. Under plans released by the department for business, parents with children as old as 16 would have the right to ask their employers for flexible working hours from April. Currently this option is limited to parents of children aged up to six. http://www.ft.com/cms/s/0/134338b0-73af-11dd-8a66-0000779fd18c.html |
| 27th August Guardian WATCHDOG RULES AGAINST APPLE ADVERT ON NET ACCESS An advertisement for Apple's iPhone handset has been shelved after Britain's advertising watchdog ruled that it misled buyers. The Advertising Standards Authority said that a TV promotion had falsely suggested that iPhone users would have unfettered access to the entire internet over their mobile. http://www.guardian.co.uk/technology/2008/aug/27/iphone.advertising?gusrc=rss&feed=media |
| 27th August Financial Times TORIES SHUN REGULATION IN OBESITY FIGHT A Conservative government will seek to tackle obesity and binge drinking through voluntary agreements with industry, rather than fresh regulation, the party will signal on Wednesday. Andrew Lansley, the shadow health secretary, will set out the terms of a proposed “responsibility deal” with business on public health. The voluntary deal will be drawn up by a working group chaired by Dave Lewis, chairman of Unilever UK and Ireland. http://www.ft.com/cms/s/0/91b1452c-739e-11dd-8a66-0000779fd18c.html |
| 27th August The Age TOP COMPANIES FAIL ON CORRUPTION CODE An independent report concludes Australia’s top companies don't comply with international bribery and corruption guidelines, reported The Age. The analysis, based on each company's published reports, found the country's top 50 companies met legislative requirements but could improve their anti-corruption efforts by publicizing their policies and codes of conduct. http://business.theage.com.au/business/top-companies-fail-on-corruption-code-20080827-443k.html |
| 27th August Guardian BARBIE COMES OUT ON TOP IN BRATZ BATTLE Mattel, the American toy manufacturer, has won $100m (£54m) in damages in a copyright case which pitted its wholesome Barbie doll against the urban Bratz range. A jury in California awarded the sum after ruling that the creator of the Bratz concept, Carter Bryant, was working under contract for Mattel when he came up with the idea for the dolls which he pitched to a competitor, MGA. The four-year dispute over the dolls has been a closely watched intellectual property clash. Giving evidence earlier this year, Bryant admitted that he sent an early drawing of a Bratz doll to MGA in 1999 - while he was working at Mattel - and that he even used some boots belonging to Barbie's boyfriend, Ken, to complete the mock-up. He testified that he saw "nothing wrong" in pitching the idea. He quit Mattel for MGA a year later and the Bratz line was launched in 2001, becoming an instant hit which now generates an estimated $2bn in annual sales. http://www.guardian.co.uk/world/2008/aug/27/usa |
| 27th August Times GREEN CUSTOMERS BELIEVE THAT ENERGY SUPPLIERS ARE TAKING UNFAIR ADVANTAGE TO INFLATE PRICES More than 85 per cent of Britain's green consumers believe that energy suppliers have been profiteering this year by implementing record price increases on gas and electricity. http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article4614652.ece |
| 27th August Guardian MINISTERS BACK AWAY FROM WINDFALL TAX ON ENERGY COMPANIES The government last night appeared to be backing away from calls to impose a windfall tax on energy companies amid concern the cost would merely be passed on to consumers. Electricity companies warned yesterday that a "legalised raid" on their profits would drive investors away and would "end up on the customers' bills". http://www.guardian.co.uk/politics/2008/aug/27/taxandspending.alistairdarling?gusrc=rss&feed=environment |
| 28th August Financial Times INDUSTRY SEES GAP EMERGING IN WAGES A wage gap is emerging in industry as successful employers award bigger increases to offset inflation while others, squeezed by rising costs and faltering demand, have cut real wages. A quarter of pay rises were at or above 4.5% during the three months to the end of July, according to pay analysts Incomes Data Services, with some of the biggest increases awarded in the chemicals, pharmaceuticals and construction industries. http://www.ft.com/cms/s/0/612d1e4a-745b-11dd-bc91-0000779fd18c.html |
| 28th August Guardian M&S SUSPENDS JUNIOR MANAGER WHO LEAKED PLAN TO SLASH REDUNDANCY TERMS The whistleblower who revealed Marks & Spencer's plan to cut back redundancy payments has been suspended. The M&S worker, who leaked an email circulated to employees outlining plans to slash redundancy payouts by up to 30%, was sent home on Thursday and told to appear at an investigation. http://www.guardian.co.uk/business/2008/aug/28/marksspencer.retail |
| 28th August Guardian FUND MANAGER MAY MOVE OUT OF UK TO ESCAPE TAX Asset management firm Henderson is poised to become the latest company to quit the UK to avoid corporation tax. Henderson said yesterday it was considering shifting its tax domicile to the Republic of Ireland. It is expected to confirm the decision today. http://www.guardian.co.uk/business/2008/aug/28/hendersongroup.tax?gusrc=rss&feed=business |
| 28th August Independent UNION PILES PRESSURE ON TESCO THROUGH US SUPPLIER America's biggest food workers' union has stepped up its pressure on Tesco's US operation, by reporting its ready-meals supplier in the US to a labour-relations tribunal yesterday for allegedly firing six employees unfairly. http://www.independent.co.uk/news/business/news/union-piles-pressure-on-tesco-through-us-supplier-910776.html |
| 29th August Guardian TAX AVOIDANCE: REGUS QUITS BRITAIN FOR LUXEMBOURG Office rental firm Regus has become the latest company to quit Britain because of its uncompetitive tax regime. The world's biggest provider of office space said today it would move its head office and tax base to Luxembourg, through creating a holding company called New Regus which will be incorporated in Jersey and listed on the London Stock Exchange. http://www.guardian.co.uk/business/2008/aug/29/regusgroup.taxavoidance |
| 29th August Guardian PLANS TO HELP MILLIONS TO PAY BILLS The government is expected to announce details next week of a new package to help the millions of households that have fallen into fuel poverty. Ministers have come under pressure to act after the latest price increases from Britain's energy suppliers and are looking at introducing measures which could include child credits or help with bills. http://www.guardian.co.uk/politics/2008/aug/29/economy.utilities |
| 29th August Financial Times REGULATOR REBUKES MOBILE COMPANIES OVER COMPLAINTS Mobile phone operators have too many dissatisfied customers and offer inadequate network coverage, the regulator said yesterday, just as the UK is on the brink of a decisive shift away from fixed-line telephone connections. Mobile phones were the second-highest complained-about product in the economy, with 1.4m dissatisfied customers, Ofcom said. http://www.ft.com/cms/s/0/ee2d3a26-7561-11dd-ab30-0000779fd18c.html |
| 29th August Guardian GENERATORS ACCUSED OF PUTTING PROFIT BEFORE SAFETY Iberdrola and Endesa, two of Spain's leading electricity companies, have been accused of cutting costs at nuclear power stations at the expense of safety. The Catalan regional government said that failure to invest had caused several incidents at two nuclear stations including a leak which led to thousands of people having to undergo radiation tests. http://www.guardian.co.uk/world/2008/aug/29/nuclear.renewableenergy |
| 29th August Reuters UK MINISTER SAYS ENERGY COMES BEFORE CLIMATE The battle against climate change must not take precedence over the need to guarantee energy security, British industry minister John Hutton was quoted on Thursday as saying in an apparent policy change. The government has often said climate change is the biggest threat facing the world. http://www.reuters.com/article/environmentNews/idUSLS51543420080828 |
| 30th August Time BANKS DOUBLE-CHARGING COSTS HOMEOWNERS £30M Homeowners who remortgage are unknowingly handing over an estimated £30 million a year in excess interest to lenders because of an “unfair” double-charging practice, The Times has learnt. Under an obscure clause hidden away in the mortgage contracts issued by all of t |
