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31st December International Herald
& Tribune FRAUD OFFICE DEMANDS DRUG FIRMS' IRAQ
DOCUMENTS
GlaxoSmithKline and AstraZeneca said on Sunday that
the Serious Fraud Office has asked them to hand over
confidential documents, following allegations bribes
were paid to win contracts in Iraq. The watchdog is
investigating possible breaches of the oil-for-food
sanctions programme, which was designed to allow the
deposed regime of Saddam Hussein to sell limited amounts
of oil to buy food and medicine. The drugmakers deny
any wrongdoing and say they are cooperating fully with
the authorities after receiving the request for documents.
http://www.iht.com/articles/reuters/2007/12/31/business/OUKBS-UK-IRAQ-PHARMACEUTICALS.php
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31st December
Financial Times NORWAY RUSHES IN FEMALE DIRECTORS
Norwegian public companies are scrambling to meet Tuesday's
deadline to fill 40 per cent of board seats with women
or risk being shut down. Some have held extraordinary
general meetings over the Christmas period to elect female
directors; others may go private to avoid the law.
http://www.ft.com/cms/s/0/fb379d5a-b72b-11dc-aa38-0000779fd2ac.html?nclick_check=1 |
2nd January
Independent ACTUARIES BODY CALLS FOR NEW PENSION OPTION
The Government should allow employers a new option for
their pension schemes to address a shortfall of contributions
into defined contribution plans, the Association of Consulting
Actuaries has said. ACA's survey of pension trends found
that four out of five company-run defined benefit - or
final salary - pension schemes were closed to new entrants,
up from seven out of 10 three years ago. Only about 900,000
private sector workers are in final salary schemes open
to new entrants compared with more than 5 million in the
public sector.
ACA said the low contribution levels, coupled with rising
annuity costs and volatile markets, were a growing concern.
With many employers considering closing their final salary
schemes to new entrants and existing employees, the Government
should lift a ban on employers offering conditionally
indexed pension schemes, the association said. http://news.independent.co.uk/business/news/article3301062.ece |
2nd January
JUDGE BUSINESS SCHOOL STUDENTS EARN PRESTIGIOUS 2007 EUROPEAN
MBA ESSAY AWARDS
Ashridge Business School, Microsoft and announce Hyun-Seung
Anna Kim from Judge Business School (University of Cambridge)
as the winner of the 2007 Ashridge European MBA Essay
Award. The winning essay, entitled "Corporate Social
Responsibility: A marketing gimmick, an enemy of a free
society or the business of business?", examined two
emerging trends in business: the integration of corporate
responsibility into the core activities of the firm, and
Socially Responsible Investment (SRI). http://www.eabis.org/education/awards/mbaessayaward/MBAEssayAward2007/
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2nd January
Guardian COURT BATTLE OVER SECRET EXPORT COMMISSIONS CLAIMS
One of the richest families in Britain is being accused
in a courtroom battle of circumventing anti-bribery laws.
The Mabey family firm, whose worldwide empire is based
on exports of steel bridges, is accused by its former
sales manager of misconduct in sales to Jamaica, the Dominican
Republic and Panama. The former manager, Jonathan Danos,
says that large secret payments of "commissions"
to middlemen were artificially split to make them look
smaller, and thus avoid official scrutiny. While Danos
is making accusations against the company, he himself
is being sued by the firm for allegedly pocketing hundreds
of thousands of pounds for himself in corrupt kickbacks
on the deals.
http://www.guardian.co.uk/uk_news/story/0,,2234048,00.html
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2nd January
Guardian GIANT SAIL TECHNOLOGY COULD MAKE SHIPPING GREENER
One of the first large cargo ships in 100 years to cross
the Atlantic with the help of the wind will set off from
European shores this month on a voyage which is due to
make maritime history. When the 10,000-tonne Beluga Skysail
is well clear of the land, it will launch a giant kite,
which wind tunnel tests and sea trials suggest will tug
it along and save 10-15% of the heavy fuel oil it would
normally burn. If the journey from Bremen in Germany to
Venezuela and back proves successful, it could become
common to see some of the largest ships in the world towed
by kites the size of football fields. http://www.guardian.co.uk/environment/2008/jan/02/travelandtransport.energyefficiency
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2nd January
Covalence ETHICAL RANKING 2007
Geneva-based Covalence is publishing today its third annual
ethical reputation ranking, giving the best ranked companies
as well as those companies which have made the most progress
in 2007. An overview of emerging and decreasing topics
is also given (see below). The main results across sectors
are:
> Rio Tinto, Dell and Marks & Spencer enter top
10 EthicalQuote score across sectors replacing BP, GlaxoSmithKline
and Bristol Myers Squibb; Unilever, Toyota and HSBC lead
the way
> Wal-Mart, Coca-Cola and Toyota show best Reported
Performance
> Emerging topics in 2007 have been: Environmental
Impact of Production, Eco Innovative Product, Waste Management
and Anticorruption Policy, while the following criteria
have lost importance: Social Impact, Social Sponsorship,
Labour Standards and Human Rights Policy.
http://www.covalence.ch/docs/CovalenceEthicalRanking2007_PressRelease_02.01.2008.pdf |
2nd January
Guardian RSPCA LAUNCHES CAMPAIGN AGAINST CHICKEN FACTORY
FARMS
The Royal Society for the Prevention of Cruelty to Animals
(RSPCA) is calling on retailers to stop selling cheap
meat from chickens reared in poor conditions, saying shoppers
should be prepared to pay more to ensure they are bred
in a better environment. It says the overwhelming majority
of the 855m chickens reared for their meat in the UK every
year are kept in cramped, dimly lit spaces, and has created
an online petition for consumers to put pressure on retailers
- supportchickennow.co.uk. The RSPCA's campaign, launched
today with full-page adverts in the form of an open letter
to retailers in four national newspapers is timed to coincide
with a short season of Channel 4 programmes, featuring
Jamie Oliver and Hugh Fearnley-Whittingstall, focusing
on chicken farming. http://www.guardian.co.uk/animalrights/story/0,,2234083,00.html |
2nd January
Financial Times LABOUR LAW SET TO RAISE COSTS IN CHINA
Employers in China fear that a new labour contract law
that took effect yesterday will intensify growing pressures
on manufacturing costs by enhancing the bargaining power
of workers. Willy Lin, Hong Kong-based managing director
of Milo's Knitwear (International) Group, says the new
labour contract law, which will make it harder to dismiss
workers, could increase costs by about 8 per cent this
year, with the rest of the increase caused by higher minimum
wages, social security payments and the renminbi's (yuan)
steady appreciation against the US dollar.
http://www.ft.com/cms/s/0/86e24964-b8d4-11dc-893b-0000779fd2ac.html |
2nd January
Guardian ENERGY FIRMS FACE TOUGH YEAR AS NEW EMISSIONS
RULES BITE
A combination of new regulations and tougher controls
on emissions which came into force yesterday will make
life tougher for Britain's power generators. The EU's
large combustion plants directive (LCPD) is designed to
curb emissions of sulphur dioxide and nitrous oxide, while
the second phase of the EU's emissions trading scheme
puts a cap on carbon dioxide emissions. Under the LCPD,
electricity generators had to decide whether to fit flue
gas desulphurisation equipment to remove sulphur dioxide
and nitrous oxide. If they have, the companies can run
the plant like they did last year. If they have not fitted
it - opted-out - they can run the plant for only 20,000
hours between now and 2015. Once the hours have been run,
the station has to close. When to run is the dilemma for
producers. They could run the 20,000 hours quickly and
shut down. Or they could hoard the hours, waiting until
demand is high - along with higher prices. http://www.guardian.co.uk/environment/2008/jan/02/carbonemissions.oil |
3rd January
Guardian LACOSTE TEARS IN LOGO BATTLE WITH DENTISTS
A Cheltenham dental practice has won a protracted legal
battle against an international fashion giant - over the
rights to a toothy reptile. The battle began in September
2004 when Dr Simon Moore and Dr Tim Rumney attempted to
register the crocodile logo which they have used at the
dental practice in Cheltenham since 1990. Lawyers for
Lacoste said patients could wrongly associate the practice
with the company, which has trademarked its crocodile
symbol across 44 areas of goods and services. http://www.guardian.co.uk/uk_news/story/0,,2234524,00.html#article_continue |
3rd January
Greenbiz SMALL BUSINESSES TO GET ENERGY EFFICIENCY HELP
US small businesses, which make up over 99 percent of
businesses domestically and are responsible for half the
country's economic output, are poised to take advantage
of the same energy efficiency projects that Fortune 500
companies have adopted in recent years. Under a pilot
program included in the energy bill signed into law last
month, the Small Business Administration (SBA) will offer
low-cost loans for small to medium enterprises (SMEs)
that want to improve their energy and fuel use. http://www.greenbiz.com/news/news_third.cfm?NewsID=36471 |
3rd January
BBC CALIFORNIA SUES US OVER EMISSIONS
California is suing the US federal government, in an attempt
to force car makers to conform to tougher cuts in greenhouse
gas emissions. The lawsuit comes after the federal Environmental
Protection Agency denied California a waiver from US law
needed to enact its own efficiency targets. The EPA says
it wants to avoid a confusing patchwork of different regulations
across states. But California says the EPA has "done
nothing" to curb greenhouse gases. Fifteen other
states or state agencies are set to join the action. http://news.bbc.co.uk/1/hi/world/americas/7169200.stm
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3rd January
Guardian TREES ABSORBING LESS CO2 AS WORLD WARMS, STUDY
FINDS
The ability of forests to soak up man-made carbon dioxide
is weakening, according to an analysis of two decades
of data from more than 30 sites in the frozen north. The
finding published today is crucial, because it means that
more of the CO2 we release will end up affecting the climate
in the atmosphere rather than being safely locked away
in trees or soil. The results may partly explain recent
studies suggesting that the amount of CO2 in the atmosphere
is increasing faster than expected. If higher temperatures
mean less carbon is soaked up by plants and microbes,
global warming will accelerate. http://www.guardian.co.uk/environment/2008/jan/03/climatechange.carbonemissions |
4th January
Financial Times EON CLEARS LATEST HURDLE TO COAL-FIRED
PLANT
The energy company Eon has passed another milestone in
its efforts to build the UK’s first coal-fired
power station since the 1970s, but it could face a public
inquiry following fierce criticism from environmental
groups. Eon plans to replace its ageing Kingsnorth coal-fired
power station in Kent with a new, 1,600 MW plant on the
same site. The German company says it intends to invest
£1bn ($1.9bn) in the new facility, which could be
generating electricity by 2012. Greenpeace said on Thursday
that new coal-fired plants “would lock Britain
into huge carbon emissions for decades and signal Brown’s
surrender on the UK’s long-term climate change
targets”.
http://www.ft.com/cms/s/0/4437e3b4-ba4e-11dc-abcb-0000779fd2ac.html |
4th January
Times ALISTAIR DARLING SET TO HAND MORE POWER TO FSA
The Chancellor wants to give extensive seize and access
powers to the regulator in the wake of the Northern Rock
fiasco. He is next week expected to lay out plans to give
the Financial Services Authority, the City watchdog, more
power to prevent another Northern Rock-style bank run.
Both the Chancellor and the FSA have been heavily criticised
for their role in the Northern Rock affair, the first
run on a British bank in more than 100 years. A spokesman
for the Treasury said today that Mr Darling will provide
details of his plans at next week's Treasury Select Committee
hearings in which he is scheduled to appear on Thursday.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3130578.ece
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4th January
Financial Times GRAINS LIFTED TO HIGHS AS OIL SURGES
Agricultural commodities rose to multi-year highs yesterday
following crude oil's surge to $100 a barrel as traders
anticipated higher demand from the expanding global biofuels
industry. As grains and oil seeds are key feedstuffs for
biofuels, the oil price rise has exerted a huge push on
agricultural commodities, which enjoyed their best returns
for almost 30 years in 2007. The S&P GSCI agricultural
commodities index returned 31 per cent last year, its
best performance since 1981. Support is also coming from
population growth and animal feed demand.
http://www.ft.com/cms/s/0/0b6cffc8-ba68-11dc-abcb-0000779fd2ac.html |
4th January
Greenbiz BIGGEST U.K. SUPERCOMPUTER CAN BE USED TO MODEL
CLIMATE CHANGE
The United Kingdom's newest supercomputer will officially
open later this month, giving UK researchers a powerful
tool. The University of Edinburgh's High-End Computing
Terascale Resource (HECToR) was completed in August last
year, and some HECToR users were given a preview of the
service in the following month. Project staff announced
HECToR has a number of potential applications, including
modeling long-range climate change, allowing scientists
to test ideas about the climate they cannot experiment
in real life.
http://www.greenbiz.com/news/news_third.cfm?NewsID=36475 |
4th January
Guardian VANITY TRADE SENT OIL PRICE TO RECORD HIGH
A maverick oil trader in New York has aroused the ire
of colleagues by enacting a "vanity trade" which
first pushed the price of a barrel of crude over the crucial
benchmark of $100. Richie Arens, an independent trader
who runs a brokerage called ABS, bought 1,000 barrels
for $100 on Wednesday at a time when the prevailing price
was $99.53. The price instantly settled back, although
it jumped over $100 again yesterday, hitting $100.09 during
the day before settling to end at $99.18. Wednesday's
trade appears to have made an instant loss of at least
$500 - but market watchers believe Arens was motivated
simply by being the first person to buy at more than $100.
His actions have attracted criticism from experts who
say that it risked artificially triggering automatic "stop
orders" placed by others in the event that the price
hit $100. http://www.guardian.co.uk/business/2008/jan/04/oil.economics
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5th January
Times BA REPRIMANDED OVER CLAIM THAT NEW RUNWAY WILL REDUCE
EMISSIONS
British Airways has been reprimanded for attempting to
manipulate a government consultation on the expansion
of Heathrow by making false claims about the environmental
impact. The Advertising Standards Authority has written
to BA ordering it to withdraw a claim, in an e-mail to
customers by Willie Walsh, the chief executive, that a
new runway would reduce carbon dioxide emissions. Mr Walsh
claimed that expansion would reduce carbon dioxide emissions
by 330,000 tonnes a year because aircraft would no longer
have to waste fuel queueing for take-off or circling while
waiting to land. His e-mail implied that the claim about
CO2 reduction had been endorsed by the Government. But
he failed to make clear that, according to the Department
for Transport's consultation document, the new runway
would raise overall CO2 emissions by 2.6 million tonnes
a year by allowing an extra 220,000 flights. http://www.timesonline.co.uk/tol/news/environment/article3134484.ece
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5th January
Times EX-GOLDMAN ANALYST JAILED FOR INSIDER DEALS
A former Goldman Sachs analyst has been sentenced to nearly
five years in prison after leading one of the biggest
insider-trading rings that siphoned off nearly $7 million
(£3.5 million) by using illegal tips on mergers.
Eugene Plotkin, a former associate in the fixed-income
research division, played a central role in a multimillion-dollar
trading scam that relied on tips from three sources: a
former Merrill Lynch analyst, advance copies of Business
Week stolen from the magazine's printing plant, and a
grand juror. Mr Plotkin, 28, pleaded guilty to conspiracy
to commit securities fraud and eight counts of insider
trading. He was ordered to serve four years and nine months,
pay a fine of $10,000 and forfeit up to $6.7 million -
the amount of the scam's illegal profits. http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3134509.ece
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7th
January Independent CHANCELLOR HAULS IN ENERGY CHIEF TO
EXPLAIN PRICE HIKES
The Chancellor has called for a meeting with the energy
regulator to explain why fuel prices have risen so sharply.
Alistair Darling will meet with Sir John Mogg, chairman
of energy regulator Ofgem, to ask whether the rises are
justified by increases in oil and gas prices. Home owners
face increases of up to 27 per cent. Mr Darling will warn
that bills of more than £1,000 a year could damage
the economy. Consumers are set to face intense pressure
over the next 12 months, with gas and electric bills from
the six big suppliers almost doubling over five years.
Last week npower, the fourth largest supplier, said it
was raising some tariffs by 27 per cent. Energy companies
have blamed a rise in the cost of coal and gas, but some
experts believe they can buy reserves in advance so there
is no need for the price rises in raw materials to be
fed through to the consumer at once. Ofgem has defended
fuel prices, saying that Britain was still a competitive
market for domestic energy suppliers.
http://news.independent.co.uk/uk/politics/article3315124.ece |
7th January
Times STORES TO BAN 'CRUEL' EGGS FROM BATTERY HENS
Britain's supermarkets are to ban the sale of eggs from
battery hens amid a growing consumer backlash over the
impact of cheap food on animal welfare. Sainsbury's, Morrisons
and the Co-op said this weekend that they would ban or
phase out the sale of eggs from caged hens. Eggs from
battery hens have already been removed from Marks &
Spencer and Waitrose. The move is likely to mean that
within three years most supermarkets will sell only eggs
from barn, free range and organic hens. http://www.timesonline.co.uk/tol/news/uk/article3137634.ece |
7th January
Financial Times INDUSTRY FEARS OVER EU GREEN LEGISLATION
Plans to tighten European anti-pollution legislation could
force the closure of swathes of industry in the UK, business
leaders have warned. The European Commission tabled proposals
just before Christmas to toughen directives dealing with
dust, sulphur and
nitrogen emissions that cause acid rain and smog, saying
national governments were set to miss targets that would
save tens of thousands of lives. However, BusinessEurope,
which represents employers across the European Union,
says the cost of compliance could force many plants to
close.
http://www.ft.com/cms/s/0/9507b4b0-bcc2-11dc-bcf9-0000779fd2ac.html |
7th January
Financial Times STEALTH ADVERTISING SET TO BECOME LEGAL
Product placement - in which items with visible brand
names are integrated into television programmes - looks
set to become legal on British screens within 18 months.
But the process must be treated with care if it is to
boost revenues, according to some of the UK's
leading broadcast executives. Opponents of product placement
however, such as the Campaign for Press and Broadcasting
Freedom, a pressure group, say editorial judgment will
inevitably be coloured by commercial considerations, despite
the fact that news and current
affairs programming will not be permitted to contain product
placement. http://www.ft.com/cms/s/0/4337c044-bcc2-11dc-bcf9-0000779fd2ac.html |
7th January
Guardian INTEL TO ANSWER BRIBERY CHARGE AFTER RIVAL COMPLAINS
TO BRUSSELS
Intel, the world's leading computer chip maker, will today
finally file its response to European Commission charges
that it is abusing its dominance by offering illegal bribes
and rebates to PC manufacturers. The group, based in California,
has denied the charges and is expected to demand an oral
hearing into claims first brought by US rival AMD (Advanced
Micro Devices) in 2000. The Commission extended its deadline
for replying to its "statement of objections"
from last Friday until today but is under pressure from
AMD to act swiftly. "Intel will do whatever it takes
to delay the process but for us it's the opposite: this
case is too serious to drag on much longer," AMD
sources said. The case's outcome is critical for a sector
in the doldrums. It is also the most significant anti-trust
decision since Microsoft lost its appeal last September
against Brussels' record
fines for abuse of dominance. http://www.guardian.co.uk/technology/2008/jan/07/news |
7th January
Financial Times CHAIRMEN'S PAY RISES FASTER THAN INFLATION
Daily pay rates for non-executive directors and independent
chairmen are increasing by 7% and 5% respectively each
year, according to a survey carried out by search firm
Hanson Green and pay consultant MM&K - more than twice
the level of inflation. That's despite the fact that the
amount of time they're spending in these companies each
month has actually been falling in the last few years.
After jumping nearly 30% in the aftermath of the Higgs
Review in 2003 (which aimed to make boards more professional),
the average time commitment for a non-exec has since fallen
by about 10% - the average NED now spends about two days
per month at about three different companies.
http://www.ft.com/cms/s/0/c550ae34-bcad-11dc-bcf9-0000779fd2ac,dwp_uuid=fe95602e-e821-11db-b2c3-000b5df10621.html
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7th January
Management Today UNPAID OVERTIME COSTS WORKERS 25BN
Britain's infamous long hours culture is on the rise again,
according to a survey from the TUC. The report finds that
some 5m British workers are each giving away seven hours
of unpaid overtime every week, costing them each £5,000
a year on average. That's a total of £25bn worth
of work that's being done for free. http://www.managementtoday.co.uk/newsalerts/article/774986/mtsweek/unpaid-overtime-costs-workers-25bn-/ |
8th January
Independent REVEALED: A NEW BANK RIP-OFF
Click here for full-size version Some of Britain's biggest
banks have unscrupulously exploited last month's base
rate cut by failing to pass on the benefits to mortgage
holders, yet at the same time imposing even bigger cuts
on interest accruing to savings accounts.
The double whammy means banks are squeezing their customers
tighter than ever this winter, as they fight to protect
their dwindling profits from the credit crunch and potential
legal action over bank charges. http://money.independent.co.uk/personal_finance/invest_save/article3318006.ece |
8th January
Financial Times THERE'S NO SUCH THING AS A FREE MUG
The past few years have seen an increase in the amount
of promotional merchandise available to companies in line
with recognition of the cost-effective brand building
benefits of such items. Many companies see promotional
material as a way to support advertising campaigns, yet
these materials have the added benefit of prolonged presence
in the market place. It is however, important to ensure
that ethical and environmental standards of your company
are reflected in this promotional material, Banita Mistry-Russell
argues 'people do not separate the type of message sent
by a cheap branded pen that doesn't work from the type
they get from your advertising.'
http://www.ft.com/cms/s/0/46f23858-bd8b-11dc-b7e6-0000779fd2ac.html |
8th January
Guardian ENERGY FIRMS FEEL HEAT FROM GOVERNMENT OVER SURGE
IN PRICES
Following nPower's rise last-week in energy prices and
the anticipated rise of British Gas the government has
expressed concern over the impact of rising fuel bills,
particularly on business and vulnerable customers. Darling
has asked for Ofgem's views on likely trends in gas and
electricity supply, and in particular: "The relationship
between wholesale price movements and feed-through to
domestic retail prices and likely availability of gas
supplies from the continent, including Norway." Meaniwhile
consumer body Energywatch has called for a Competition
Commission inquiry. In related news gas companies are
to introduce regional pricing. Customers in some parts
of the country will be charged up to £100 a year
more for using the same amount of energy as customers
in other regions. Companies are blaming varying regional
distribution and infrastructure costs. Consumer groups
argue that costs will rise most in areas where consumers
are most loyal.
http://www.guardian.co.uk/business/2008/jan/08/economy.utilities |
9th January
Independent BA EMPLOYEE LOSES HER CASE FOR DISCRIMINATION
A British Airways employee has lost her case claiming
discrimination over the airline's decision in 2006 to
ban her from wearing a small cross on a necklace to work.
http://news.independent.co.uk/uk/legal/article3321698.ece
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9th January
The Independent SUPERMARKET FOOD 'CONTAINS MORE FAT AND
SALT THAN QUOTED ON LABEL'
Ready meals and breakfast cereals often contain far more
fat and salt than claimed on their packaging, according
to new research. Laboratory tests found manufacturers
of processed food often misled consumers, with some products
having up to 91 per cent more fat than was stated on the
label. Dispatches established that there is no legal stipulation
on the accuracy of labels stating levels of fat, sugar
and salt. Instead, guidelines allow manufacturers a margin
of error of up to 30 per cent on fat or salt content.
However, laboratory analysis showed some products substantially
exceeded even these margins, with a fifth of 43 products
exceeding the margin on fat content. Alan Richards, president
of the Association of Public Analysts, called for the
Government to reduce the margin for error to 10 per cent.
http://news.independent.co.uk/health/article3321391.ece |
9th January
Telegraph MORE EMPLOYEES UNDER SURVEILLANCE AT WORK
A survey by the Economic and Social Research Council found
that employees are being put under increasing strain because
their bosses are using surveillance equipment to keep
track of how hard they are working. More than half of
employees claim their managers use electronic systems,
while managers in a fifth of workplaces admit to monitoring
their employees using computer-based systems. The researchers
found that in workplaces checked by computer, reports
of work-related strain rose by 7.5 per cent. Brendan Barber,
TUC general secretary, said: 'Although employers can have
legitimate concerns about staff accessing inappropriate
material and excessive time spent social networking, a
heavy handed reaction causes unnecessary stress and weakens
morale. Employers should instead look to develop agreed
guidelines and policies on internet usage and ensure all
staff are aware of them." http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/01/09/nspy109.xml
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9th January
Management Today GMTV EXEC PAYS FOR 'POWER NAP'
The GMTV boss accused of falling asleep at his desk after
a boozy lunch has bowed to the inevitable and left the
company. Managing editor John Scammell, who the Daily
Mail accused of passing out at his desk after over-indulging
at a pre-Christmas lunch, apparently left the job in December
without serving out his notice period. http://www.managementtoday.co.uk/newsalerts/article/775438/gmtv-exec-pays-power-nap/ |
9th January
Guardian CHINA BANS PLASTIC BAGS IN FIGHT AGAINST POLLUTION
China is to ban the use of some plastic bags and force
consumers to pay for others in its latest attempt to conserve
resources and ease environmental pressures, the state
council announced yesterday. As many as 3 billion plastic
bags a day are used in China, putting intolerable pressure
on the country's resources. From June 1, production of
the poorest quality bags handed out by supermarkets will
be banned, and shoppers will have to pay or reuse old
bags. Producers and retailers face prosecution, the council
said.
http://www.guardian.co.uk/international/story/0,,2237447,00.html?gusrc=rss&feed=environment |
9th January
Financial Times ENVIRONMENTALISTS FEAR COST AS TATA BRINGS
MOTORING TO THE MASSES
Environmentalists fear cost as Tata brings motoring to
the masses Tata's "people's car", due to reach
showrooms in September, is stirring nationalistic pride
in India's business community - but it is also causing
environmentalists sleepless nights.
http://news.independent.co.uk/uk/legal/article3321698.ece
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9th January
Times BANK APPOINTS FIVE WOMEN AMONG 80 MANAGING DIRECTORS
Barclays Capital, the investment banking division of Barclays,
has been forced to defend itsrecord as an equal opportunities
employer after it emerged that it had promoted 80 managingdirectors,
of which only five are women. Employment commentators
said that the promotions underscored the perception of
the City remaining a male-dominated environment. http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3156165.ece |
10th January
Independent JJB TO COMPENSATE PRICE-FIXING VICTIMS
JJB Sports has agreed to compensate football fans short-changed
by its role in a cartel organised to fix the price of
replica shirts.
The announcement follows action by Which?, the consumer
organisation, to issue legal proceedings against the sporting
goods retailer for money owed to customers who were overcharged
for certain England and Manchester United football shirts
in 2000 and 2001.
http://news.independent.co.uk/business/news/article3324486.ece |
10th January
Guardian BRUSSELS FORCES ITUNES TO CUT PRICE OF DOWNLOADS
IN THE UK
Following an investigation by consumer organisation Which?,
Apple has promised to cut the price of iTunes music downloads
for UK customers to bring them into line with the cost
across the rest of Europe. The iTunes online store currently
detects customers' country of origin through their credit
card details and restricts their options accordingly.
Consumers using a credit card issued by a UK bank are
charged 6% more than those in the rest of Europe. The
price gap was 10% when the investigation began in April
2007, and narrowed only because of changes in the exchange
rate. When Which? prompted anti-trust proceedings last
year, Apple blamed the disparity on the record companies
charging it more to distribute their music in the UK.
http://www.guardian.co.uk/technology/2008/jan/10/itunes.pricecutsintheuk
|
10th January
Times TOWN HALL STRIKE THREAT AS MEN FACE EQUALITY PAY
CUTS
Public sector unions are threatening strike action over
equal pay deals for council workers. Nearly 5,000 staff
face salary cuts to fund raises for low-paid women. http://www.timesonline.co.uk/tol/life_and_style/men/article3162666.ece
|
11th January
Independent EMAILS REVEAL STARBUCKS SPIED ON STAFF LOOKING
TO ESTABLISH UNION
Starbucks managers monitored internet chatrooms and eavesdropped
on party conversations in a covert campaign to identify
employees agitating for union representation at the coffee
chain, internal emails reveal. The correspondence has
come to light after a long-running battle between the
company and a union angry at being prevented from organising
among Starbucks' 150,000-strong army of "baristas"
and other employees.
http://news.independent.co.uk/business/news/article3328444.ece
|
12th January
Times CHEFS' TV CAMPAIGN MAY DENT CHICKEN SALES
Supermarkets are bracing themselves for a slump in chicken
sales this weekend after what the industry calls "trial
by TV". The celebrity chefs Jamie Oliver and Hugh
Fearnley-Whittingstall have used their latest shows to
expose sharp differences in the treatment of standard
and free-range chickens. Sales of standard birds - those
reared indoors - appeared to be holding up yesterday but
the panic from retailers was reflected in the number of
advertisements promising a commitment to the highest standards.
http://business.timesonline.co.uk/tol/business/industry_sectors/consumer_goods/article3174406.ece |
13th January
Sunday Times KEY NORTHERN ROCK STAFF RECEIVE SECRET BONUSES
SENIOR staff at Northern Rock are receiving secret bonuses
of up to £100,000 a year as part of an incentive
scheme. The bank's board approved the bonuses for 173
staff who are seen as essential for the running of the
bank. The payouts, of up to £25,000 per quarter,
could double the salaries of some of the recipients. The
revelation will cause anger among customers, the bank's
remaining 6,000 staff, and taxpayers, whose exposure to
Northern Rock is about £55 billion, including £25
billion in loans from the Bank of England. Alistair Darling,
the chancellor, will also face embarrassment as the Treasury,
Bank of England, and Financial Services Authority (FSA)
were informed of the bonus plans.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3177668.ece
|
13th January
Observer BRIBERY, BROTHELS, FREE VIAGRA: VW TRIAL SCANDALISES
GERMANY
Tales of high-level sleaze heard in court have angered
millions afflicted by welfare cuts and a pay freeze. In
a courtroom investigation in Braunschweig in Lower Saxony,
in the north west, details of the €2.5m affair have
been unfolding and the nation has been poring over the
lurid details. They involve a string of expensive hookers,
sex parties and expense-account shopping trips which took
place over the best part of a decade, endorsed by a management
keen to buy the support of union officials and the shopfloor
at a critical time for the company. The scandal has claimed
the scalp of the personnel director Peter Hartz - who
was convicted at a trial last year - along with two senior
managers and the chairman of the powerful works council.
Ferdinand Piech currently chairman and previously chief
executive of VW, was examined in court this week and referred
to the slips of protocol which led to the brothel and
slush-fund affair as mere 'irregularities' about which
he had 'not been aware'.
http://www.guardian.co.uk/germany/article/0,,2240067,00.html
|
13th January
Observer STUCK ON YOU
Organic or fairtrade? Sustainable or certified? With so
many labels on food, clothes and white goods, it's a miracle
that we make it to the checkout before closing time. So
just how useful are ethical labels to the average shopper
- and which ones live up to their eco credentials? Lucy
Siegle investigates. http://observer.guardian.co.uk/magazine/story/0,,2237929,00.html
|
14th
January BBC BANK CHARGES COURT TEST TO OPEN
Banks and their customers are awaiting the start of a
High Court test case which could bring a fundamental change
to UK high street banking. The outcome may decide how
much banks can charge millions of account holders who
go overdrawn without permission. The Office of Fair Trading
(OFT) is challenging seven leading retail banks and the
Nationwide building society. The regulator claims the
banks' overdraft charges are unfair, but the banks say
they are entirely legal. http://news.bbc.co.uk/1/hi/business/7178766.stm |
14th January
Guardian THE GREENING OF GADGETRY
More than 2,700 companies presented their latest green
technologies at the Consumer Electronics Show in Las Vegas.
The Guardian highlights a few companies that stood out.
Fujitsu will launch the Biblo laptop that has a case made
partially from corn oil and it is biodegradable. OLED
presented the Organic LED screen that uses less power
than normal TVs and delivers a better picture. Nokia demonstrated
the Nokia 3100 Evolve mobile phone which is built from
renewable material. The company also showed off an Eco
Sensor Phone, which is able to analyse the owner's health,
environmental changes and local weather patterns. Also,
Shanghai-based Horizon, was displaying what it says will
be some of the world's first commercially available fuel
cell products, including a generator that needs only water.
http://www.guardian.co.uk/technology/2008/jan/14/gadgets.news |
14th January
Financial Times WATCHDOG ATTACKS NUCLEAR GO-AHEAD
The green light for the construction of new nuclear power
stations given by ministers last week has been attacked
by the government's watchdog for sustainable development.
In one of its strongest critiques of policy, the Sustainable
Development Commission, which is independent but funded
by the government, criticised ministers for their 'inadequate
response to the legitimate concerns expressed by the general
public over new nuclear power'. The government has not
yet reached a decision on the site for a repository for
Britain's nuclear waste, after more than 30 years of debate.
The nuclear white paper published on Thursday said the
additional waste generated by a new generation of reactors
could be stored on-site in temporary facilities for 100
years or more. http://www.ft.com/cms/s/0/cf7224ea-c231-11dc-8fba-0000779fd2ac.html |
14th January
Financial Times BRITAIN MUST STOP DUCKING ACTION ON GREEN
ISSUES.
Britain is unlikely to meet the existing targets for cutting
greenhouse gas emissions, let alone the tougher ones that
the latest scientific evidence suggests are necessary.
Action needs to be taken now rather than later to build
a low-carbon economy, if it is to be achieved cheaply
and effectively. http://www.ft.com/cms/s/0/d3097018-c213-11dc-8fba-0000779fd2ac.html
|
14th January
Telegraph VIRGIN TO TRIAL FLIGHTS POWERED BY BIOFUELS
The world's first flight involving a commercial aircraft
using alternative biofuels will take place next month.
http://www.telegraph.co.uk/travel/main.jhtml?xml=/travel/2008/01/14/nplanes214.xml
|
14th January
Telegraph BBC IS EXCLUDING OLDER WOMEN, SAYS SELINA SCOTT
Selina Scott, the former newsreader, has reignited the
row over ageism in the BBC by accusing the corporation
of "excluding" women over the age of 50. She
claims that it is unacceptable that older presenters are
being dropped in favour of younger women lacking sufficient
journalistic experience. http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/01/14/nbbc114.xml |
15th January
Independent Energy suppliers 'are profiteering from poor
people'
Research commissioned by the watchdog Energywatch shows
that none of the "social tariffs" offered by
the six big energy companies are cheaper than the best
deal on the market. Overall, electricity companies are
estimated to be making £296m in unjustified top-up
charges to people on low incomes using pre-payment meters
than they do to generally wealthier customers paying by
direct debit, according to Energywatch. It found that
the big six - British Gas, Npower, E.ON, Scottish and
Southern, Scottish Power and EDF - spend one thousandth
of their £24bn annual turnover subsidising bills
through social tariffs. Annual payments total £28m.
At the same time, the companies are estimated to be charging
customers using pre-payment meters £543m more than
direct debit customers. After subtracting the £247m
cost of providing the meters, the companies are estimated
by Energywatch to be making £296m extra from pre-payment
households. http://news.independent.co.uk/uk/this_britain/article3339055.ece |
15th January
Business Week THE ETHICS OF TALKING POLITICS AT WORK
The hot-button issues of politics can lead to inflamed
tempers that can impede your productivity-and possibly,
your progress. Bruce Weinstein suggests that in considering
whether it is appropriate to have political discussions
on the job, five fundamental ethical principles are at
stake: (Do No Harm ); Make Things Better; Respect Others;
Be Fair; Be Loving. http://www.businessweek.com/managing/content/jan2008/ca20080115_994641.htm?chan=top+news_top+news+index_managing
|
15th January
Independent SQUARE MILE FINED FOR IMPROPER SALES
Square Mile Securities, a London-based stockbroker, has
been hit with a £250,000 fine from the City watchdog
for using "high pressure sales tactics" on its
customers and encouraging them to invest in shares "based
on information that was inaccurate, incomplete and misleading".
The Financial Services Authority said a review of 55 transactions
between March and May 2006 revealed that advisers at the
firm "sometimes failed to get a customer's consent
before selling them high risk shares". The tactics
left some investors saddled with unwanted debt, including
an 89-year-old customer whose account was charged at least
£75,000 for five transactions entered without his
sanction, breaching an agreed risk capital limit of only
£25,000. http://news.independent.co.uk/business/news/article3339141.ece
|
15th January
Independent FOUNDER OF BOTTLED WATER COMPANY HONOURED
FOR WORK IN THIRD WORLD
The founder of Belu Water, a bottled water company that
donates all of its profits to global clean water projects,
has won The Independent's Social Entrepreneur of the Year
award. The company uses carbon-neutral packaging in the
form of a compostable bottle made from corn, and Mr Paget
said Belu is now "a major catalyst for change",
as it is inspiring other retailers to consider using similar
packaging. Belu is the first carbon-neutral product being
stocked at Tesco. http://news.independent.co.uk/business/news/article3339146.ece
|
15th January
New York Times STUDY REVEALS DOUBT ON DRUG FOR CHOLESTEROL
A clinical trial of Zetia, a widely used cholesterol drug,
has raised questions about its effectiveness and the behavior
of pharmaceutical companies that conducted the study.
Merck and Schering-Plough, which make the drug, Zetia,
and a pill that contains it, Vytorin, said Monday morning
that Zetia had failed to benefit patients in a two-year
trial that ended in April 2006. Merck and Schering repeatedly
missed their own deadlines for reporting the results,
leading cardiologists around the world to wonder what
the study would show. At the same time, millions of patients
have continued taking Zetia and Vytorin. In a press release,
Merck and Schering said that not only did Zetia fail to
slow the accumulation of fatty plaque in the arteries,
it actually seemed to contribute to plaque formation -
although by such a small amount that the finding could
have been a result of chance. http://www.nytimes.com/2008/01/15/business/15drug.html?_r=2&th&emc=th&oref=slogin&oref=slogin
|
15th January
Telegraph FLYING START COURSE GIVES WOMEN A LIFT-OFF
A women-only business course has proved an unexpected
hit with young female entrepreneurs keen to get their
business ideas off the ground.This is the first single-sex
scheme offered by the National Council for Graduate Entrepreneurship
(NCGE) which funds the course, and has received an overwhelming
response with almost 1,200 women applying. Many of the
entrepreneurs on the course had an arts or creative background
and wanted to turn their skills into viable businesses.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/15/ybflying115.xml
|
15th January
Guardian NIGERIA TAKES ON BIG TOBACCO OVER CAMPAIGNS THAT
TARGET THE YOUNG
The Nigerian government has launched a £22bn lawsuit
against three multinational cigarette manufacturers it
accuses of trying to hook young Africans on tobacco, to
replenish a market that is dwindling in the west. The
government is seeking multi-billion pound damages from
British American Tobacco (BAT), Philip Morris and International
Tobacco Ltd over what anti-smoking activists in Nigeria
have characterised as a cynical disregard for young African
lives through strategies seeking to glamorise cigarettes
in ways that are now banned in Europe.
http://www.guardian.co.uk/international/story/0,,2240817,00.html |
15th January
Guardian M&S OFFERS £5 FOR CLOTHES GIVEN TO
OXFAM
M&S has teamed up with Oxfam to reduce the 1m tonnes
of clothing sent to landfill each year. In the so-called
"clothes exchange", vouchers will be valid for
one month against purchases of £35 or more of M&S
clothing, homeware or beauty products. Each bag of clothes
donated to Oxfam shops must contain at least one item
of M&S clothing, no matter how old. http://www.guardian.co.uk/business/2008/jan/15/marksspencer.recycling |
|
15th January Guardian EU REVIEWS BIOFUEL TARGET AS
ENVIRONMENTAL DOUBTS GROW
A European drive to run vehicles on biofuels instead
of petrol and diesel to reduce greenhouse gas emissions
is to be reviewed after concerns about its environmental
impact. Stavros Dimas, the EU environment commissioner,
said a European target to boost biofuel
production risked causing more damage than Brussels
realised. But he insisted that biofuels still had benefits,
and their impact on food supplies and biodiversity could
be limited by the introduction of strict sustainability
standards. http://www.guardian.co.uk/environment/2008/jan/15/biofuels.carbonemissions
continued below ...
|
15th January
Financial Times LISTED GROUPS WARNED ON UN PLEDGES
A group of influential investors has warned 78 listed
companies that they are breaching pledges to a United
Nations agreement on society and the environment by failing
to publish progress reports. The investors, led by Morley
Fund Management in the UK, have also praised a smaller
group of mostly European companies for their "notable"
performance under the UN Global Compact. The compact commits
companies to maintaining principles on human rights, labour
standards, the environment and corruption, to improve
the "social legitimacy" of businesses. According
to the UN database of compliance, 904 companies have failed
to produce the updates required by the scheme. On the
UN list of overdue companies are Premier Oil and Standard
Chartered of the UK; Luxembourg's ArcelorMittal; Caisses
d'Epargne, Hermts and Bouygues Telecom of France; Portugal's
Banco Espirito Santo; the Saint Paulo, Jakarta and Istanbul
stock exchanges; car hire group Europcar; and Edelman,
the US public relations firm. http://www.ft.com/cms/s/0/e5919594-c30d-11dc-b617-0000779fd2ac.html |
15th January
New York Times EUROPE'S APPETITE FOR SEAFOOD PROPELS ILLEGAL
TRADE
Fish is now the most traded animal commodity on the planet,
with about 100 million tons of wild and farmed fish sold
each year. Europe has suddenly become the world's largest
market for fish, worth more than 14 billion euros, or
about $20.6 billion a year. Europe's appetite has grown
as its native fish stocks have shrunk so that Europe now
needs to import 60 percent of fish sold in the region,
according to the European Union.
In Europe, the imbalance between supply and demand has
led to a thriving illegal trade. Some 50 percent of the
fish sold in the European Union originates in developing
nations, and much of it is laundered like contraband,
caught and shipped illegally beyond the limits of government
quotas or treaties. The smuggling operation is well financed
and sophisticated, carried out by large-scale mechanized
fishing fleets able to sweep up more fish than ever, chasing
threatened stocks from ocean to ocean. http://www.nytimes.com/2008/01/15/world/europe/15fish.html?th&emc=th
|
16th January
Financial Times GREEN POLICIES PUSH UP ENERGY PRICES
Environmental measures are adding about £60 to the
average household energy bill this year, the market watchdog
said yesterday, as EDF Energy became the second leading
supplier to raise prices. Ofgem, which regulates gas and
electricity markets, said the combined effect of the European
Union's emissions trading scheme, the renewables obligation
(RO) for subsidising green electricity such as wind power,
and the new carbon emissions reduction target (CERT),
the energy efficiency programme that comes into effect
in April, would add about 6 per cent to the average bill.
EDF yesterday announced price rises of 12.9 per cent for
gas and 7.9 per cent for electricity, to take effect from
Friday, following RWE Npower's average increases of 17.2
per cent for gas and 12.7 per cent for electricity earlier
in the month.
http://www.ft.com/cms/s/0/599a3462-c3d8-11dc-b083-0000779fd2ac.html |
16th January
Greenbiz CSR JOBS RANK HIGH FOR NEWLY MINTED MBAS
Even though there are more CSR jobs available to business
school grads than ever before, it's not enough to meet
the demand, according to a new report from Net Impact
and Ellen Weinreb Recruiting. The study, conducted over
the past three and a half years and released yesterday
by the two groups, found CSR jobs at two leading business
job sites growing at 37 per cent per year, with a total
of 1,255 jobs posted in that time frame. Three sectors
are highlighted as offering the fastest growth in environmentally
oriented jobs: clean technology, consumer products, and
public relations. http://www.greenbiz.com/news/news_third.cfm?NewsID=36535 |
15th January
Management Today SUSTAINABLE PROFITS FOR YOUR BUSINESS
Sustainability isn't just a nice PR exercise - it's also
the best way to boost your bottom line, apparently. That's
the conclusion of 'A New Mindset for Corporate Sustainability',
a research paper commissioned by BT and Cisco and put
together by six academics in the UK, US, Spain, China
and Singapore. They argue that when business leaders have
the vision to embed sustainability throughout their organisation,
it becomes more innovative - and that means bigger profits.
They're basing this on a series of case studies from around
the world, some of which are more convincing than others.
http://www.managementtoday.co.uk/newsalerts/article/777041/mtsweek/sustainable-profits-business/?DCMP=EMC-Daily%20News
|
16th January
Guardian FINANCIAL GAIN
Mentoring scheme draws out East End talent that otherwise
might not reach its City neighbour. The Fresh Futures
in Financial Services (FFFS) project has helped hundreds
of young people to get a foot in the door of the financial
sector by offering work experience placements, mentoring,
training and guidance. It also offers a community affairs
training scheme (Cats), which selects young people from
the local area to take part in internships with top businesses
in the City of London. http://www.guardian.co.uk/society/2008/jan/16/practice.socialexclusion
|
16th January
Daily Mail MILLIONS COULD RECLAIM IN BT BILL BACKLASH
More than five million BT customers could reclaim charges
imposed because they do not want to pay by direct debit.
The Office of Fair Trading believes customers who were
with the telecommunications giant before it implemented
its £4.50 quarterly fee for not paying by direct
debit can argue a strong case against paying the charge.
Around 5.5m BT customers do not pay their bill by direct
debit - and most of these have been with the company since
before the charge was implemented last year.
http://www.thisismoney.co.uk/bbphone/article.html?in_article_id=429448&in_page_id=182&ct=5&ito=1723
|
16th January
Times BA USES OWN JETS TO EXAMINE EFFECT OF AIR TRAVEL
ON CLIMATE
British Airways aircraft are to be used to gather data
about the hidden impact of air travel on climate change
in research that could result in much higher environmental
surcharges on tickets than expected. BA is supporting
the research because it is keen to present itself as the
responsible face of the airline industry and hopes to
overcome environmental objections to the construction
of a new runway at Heathrow.
http://www.timesonline.co.uk/tol/news/environment/article3193045.ece
|
16th January
Guardian 'A BLATANT FAILURE OF MORAL VISION'
Britain's shiny new nuclear policy is less than a week
old and already it is mired in failure. The government's
thinly disguised justification for a decision already
made rides roughshod over the concerns of the public and
patently ignores the warnings of the government's own
advisers.
http://www.guardian.co.uk/environment/2008/jan/16/nuclearpower.energy?gusrc=rss&feed=environment
|
17th January
Independent FOREIGN OFFICE SUED FOR SEX AND RACE DISCRIMINATION
The careers of women and ethnic minority civil servants
working at the Foreign and Commonwealth Office are held
back by a glass ceiling that is supported by an inherited
culture of discrimination, it was alleged yesterday. Manchula
Kuganesan, a highly experienced accountant from London,
told an employment tribunal that, for almost 11 years,
she had been overlooked for promotion despite being more
qualified than her white male colleagues. She described
the Foreign Office as being the most "conservative"
of all government departments which still implemented
discriminatory practices dating from a time when women
who married were forced to resign. http://news.independent.co.uk/uk/legal/article3345160.ece
|
17th January
Independent BARCLAYS PUTS UP £5M TO BACK ETHICAL
INVESTMENT FUND
Barclays is putting its support behind a pioneering social
investment fund which aims to deliver healthy returns
to investors while concentrating on the burgeoning ethical
business sector. The bank will invest £5m into a
£25m social investment fund managed by Catalyst
Fund Management & Research which aims to discover
and develop successful businesses that also have a strong
ethical agenda.
http://news.independent.co.uk/business/news/article3345189.ece
|
17th January
Guardian PLEDGE TO MAKE UK LANDINGS AND TAKE-OFFS MORE
FUEL EFFICIENT
The way aircraft take off, fly and land in Britain will
undergo a significant overhaul as part of plans to cut
aviation emissions by 10% over the next decade. The national
air traffic controller, Nats, has pledged to reduce the
amount of carbon dioxide generated in British airspace
by 2020. Paul Barron, Nats chief executive, said the target
would galvanise the aviation industry in Britain and across
Europe as the company seeks help in slashing emissions.
http://www.guardian.co.uk/environment/2008/jan/17/carbonemissions.emissionstrading?gusrc=rss&feed=environment
|
17th January
Times REGULATOR ANGERS POWER GROUPS WITH THREAT OF A WINDFALL
TAX
Energy companies were threatened with a windfall tax yesterday
after Ofgem, the energy markets regulator, advised the
Treasury that suppliers will receive a £9 billion
benefit from emissions permits. The regulator said that
producers such as npower, British Gas and EDF Energy should
be obliged to use some of that £9 billion to help
their poorest customers.
HTTP://BUSINESS.TIMESONLINE.CO.UK/TOL/BUSINESS/INDUSTRY_SECTORS/NATURAL_RESOURCES/ARTICLE3200471.ECE
|
17th January
Guardian THE POLLUTER PAYS: 30,000 TONNE OIL DISASTER
COSTS FRENCH FIRM €200M
It was one of Europe's grimmest maritime oil spills, suffocating
hundreds of miles of France's Atlantic coastline with
a tide of black, toxic heavy fuel and killing or injuring
300,000 sea birds. Yesterday in a historic ruling, a Paris
court held that the oil giant Total was responsible for
the 1999 sinking of the ageing oil tanker Erika and must
pay millions of euros in damages. Establishing a legal
precedent that was cheered by environmentalists, the judge
ruled that more than 100 groups, including bird protection
associations, fishermen, sea-salt producers and oyster-farmers,
had a right to compensation for the environmental damage
caused. The ruling means polluters can be held accountable
for damage to the natural world, as well as to business
and economic interests. Total, which chartered the rusting
tanker that split into two off the Brittany coast, belching
out a black toxic wave, was found guilty of negligence
and fined €375,000 (£270,000).
http://www.guardian.co.uk/environment/2008/jan/17/oilspills.pollution |
17th January
Guardian PRIVATE CONTRACTORS TAKE TAXPAYERS FOR A MULTIMILLION-POUND
RIDE
Millions of pounds of taxpayers' money is being wasted
by officials who overpay private firms to do the simplest
tasks like installing a new electric socket or replacing
a lock the National Audit Office reveals today. An investigation
into £180m of public money spent renegotiating private
finance initiative contracts to build and run hospitals,
schools, prisons and courts in 2006 reveals 10-fold differences
in payments for similar tasks. With PFI being Gordon Brown's
favourite way to fund new public projects - it now accounts
for £44bn of public spending - the NAO is calling
for much tighter controls over any changes to the contracts,
which often run for 30 years or more. http://www.guardian.co.uk/guardianpolitics/story/0,,2241990,00.html#article_continue |
17th January
Guardian EC STAGES DAWN RAIDS ON EUROPE'S PHARMACEUTICAL
COMPANIES
The European commission has mounted dawn raids on pharmaceutical
companies across Europe as part of an investigation into
possible anti-competitive behaviour that could be preventing
new drugs and cheaper generic alternatives from entering
the market. The raids,
staged on Tuesday at the offices of companies including
GlaxoSmithKline, AstraZeneca, Sanofi-Aventis, Pfizer and
Merck, as well as generic firms such as Teva, are part
of increasing scrutiny of an industry worth €200bn
(£150bn) a year in the EU alone. They were dovetailed
with, among others, the British, French and German competition
authorities. The EU is also working with its US counterpart,
the federal trade commission, and the Swiss. http://www.guardian.co.uk/business/2008/jan/17/pharmaceuticals.glaxosmithklinebusiness |
18th January
Independent MERRILL PAY BONANZA DESPITE $14.1BN WRITE-OFF
Merrill Lynch paid out a record $15.9bn (£8bn) in
pay and bonuses to its employees last year, despite plunging
$8.6bn into the red. The company said it was writing off
a further $14.1bn of its investments in mortgage-backed
debts, taking the total write-downs to $22bn and making
it Wall Street's biggest loser since the mortgage market
collapsed in the summer. Investment banks typically pay
out just under half of their net revenue in bonuses, but
the write-offs in its mortgage-related businesses meant
that Merrill had negative net revenue last year. John
Thain, the newly appointed chief executive, defended the
6 per cent increase in compensation expenses, saying many
parts of the bank enjoyed strong or even record performances.
http://news.independent.co.uk/business/news/article3348023.ece
|
18th January
Financial Times BIOFUEL TARGETS IN EU 'WILL OUTWEIGH BENEFITS'
A plan to increase the use of biofuels in Europe, to be
outlined next week, may do nothing to help fight climate
change and incur costs that outweigh the benefits, says
an internal European Union report. The unpublished study
by the Joint Research Centre, the European
Commission's in-house scientific institute, may complicate
the Commission's meeting next Wednesday at which it plans
to set a new biofuels target. http://www.ft.com/cms/s/0/14200dd4-c569-11dc-811a-0000779fd2ac.html |
18th January
Greenbiz HP RELEASES GREEN SUPPLY CHAIN GUIDELINES
HP published a new set of guidelines for multinational
companies designed to help them promote strong CSR and
environmental practices amongst small and medium-sized
businesses (SMBs) within their supply chain. The guidelines
feature in a report from the Danish Commerce and Companies
Agency, co-funded by the IT giant and the European Commission,
and cover a range of best practices, including frequent
supply chain audits, managerial training for suppliers'
staff and workshops to promote the commercial case for
environmentally sustainable business practices.
http://www.greenbiz.com/news/news_third.cfm?NewsID=36545 |
18th January
Independent KODAK WORKERS SUE MORGAN FOR $500M
A group of former Eastman Kodak employees have lodged
a class action lawsuit claiming nearly $500m (£254m)
from Morgan Stanley alleging that the US broker gave them
bad advice in saying they could retire early. The plaintiffs
claim they would not have stopped work early if their
broker had not told them they would have enough money
to live comfortably. The suit names four employees, but
the claimants' lawyer estimates more than 1,000 people
could be covered by the class action. http://news.independent.co.uk/business/news/article3348035.ece |
18th January
CSRNewsEurope WORKPLACE BULLYING RIFE: RISING STRESS LEVELS
HIT THE HEALTH OF THE NATION AND THE ECONOMY
Bullying in the UK is endemic and for one in four people
it is a weekly or even daily cause of stress. Over 80%
of workers have been bullied during their careers and
a third of people are so stressed they have dreamed of
quitting for a life abroad. Over half say their jobs are
getting more stressful and that work is overtaking their
home lives. These are the key findings of Samaritans'
survey for Stress Down Day, taking place on Friday February
1st; a national campaign to encourage people to take better
care of their health at work and reduce currently damaging
stress levels, www.stressdownday.org
http://www.csrnewseurope.com/page/samaritans_54.cfm
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20th January
Observer FURY AS FUEL POVERTY SOARS CLOSE TO A 10-YEAR
RECORD
One in six British households is living in fuel poverty,
the highest for almost a decade, according to new figures
that threaten the government's target to eradicate the
problem in England by the end of the decade. Fuel poverty
is defined as when a household spends more than a tenth
of its income on utility bills. The consumer group Energywatch
said yesterday there are now about 4.4 million of these
in the UK, with just over 3 million in England alone http://www.guardian.co.uk/business/2008/jan/20/utilities.householdbills
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20th January
Independent on Sunday NON-EXECUTIVE DIRECTORS 'AREN'T
IN IT FOR THE MONEY'
Tales of boardroom greed appear to have been greatly overdone,
at least where part-time directors are concerned. Most
non-executive directors are motivated by the desire to
make a difference, according to a survey of FTSE 100 company
secretaries by the executive search firm Whitehead Mann.
http://news.independent.co.uk/business/news/article3353656.ece
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20th January
Independent on Sunday MPS 'CONNED' OVER OBESITY CHARITY
THAT WAS FRONT FOR DIET FIRM
An obesity charity that took tens of thousands of pounds
of taxpayers' money in government grants and gained access
to key politicians was actually a front for a highly profitable
diet company. The Obesity Awareness and Solutions Trust
(Toast) boasted about causing an influential parliamentary
inquiry into obesity while failing to declare its financial
links to the weight-loss industry. Toast also used a Westminster
lobbying firm to "acquire" a large group of
"parliamentary patrons". The revelations come
just days before the Government launches its response
to the public health "time bomb". They will
be raised this week when members of Parliament's Public
Accounts Committee meet to consider the activities of
political lobbying firms. MPs and peers who once supported
Toast are distancing themselves and say they were unaware
of its substantial links with the Essex-based company
LighterLife, whose website describes the firm as "the
only weight-loss programme which includes counselling
in small single-sex groups to tackle what goes on in your
mind as well as your mouth".
http://news.independent.co.uk/uk/politics/article3353772.ece
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21st
January Economist JUST GOOD BUSINESS
The Economist has published a special report on corporate
social responsibility analysing the recent trends in the
field. The report raises questions on whether or not CSR
works and on how companies manage reputational risks.
It also highlights the environmental side of CSR.
http://www.economist.com/business/displayStory.cfm?story_id=10491077 |
21st January
Guardian EU'S GREEN TARGETS MAY FORCE UK TO INCREASE RENEWABLES
FIVEFOLD
Britain could be forced to quintuple the energy it takes
from renewable sources to 15% by 2020 from 3% or less,
under tough new green targets to be set out by the European
commission on Wednesday. The commission's plans for the
third phase of the EU's emissions trading scheme (ETS)
to cut greenhouse gas emissions will force power generators,
refiners and eventually other industries such as steel,
cement and paper to bid for permits to emit carbon dioxide.
Free permits have given big energy producers billions
in windfall profits.
http://www.guardian.co.uk/business/2008/jan/21/climatechange.eu |
21st January
Financial Times SUPPLIERS PUSHED ON GREEN INITIATIVES
Small suppliers to multinationals are feeling the heat
of global warming as an increasing number are being forced
by their big-name customers to prove their green credentials.
Household names from a range of industries, including
Dell, L'Oréal, PepsiCo, Hewlett-Packard and Reckitt-Benckiser,
have announced that they will ask some suppliers to measure
and disclose their carbon footprint, which is a measure
of the impact of their activities on the environment using
units of carbon dioxide. http://www.ft.com/cms/s/0/e1762628-c7c2-11dc-a0b4-0000779fd2ac.html
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21st January
Financial Times CITY STARS JOIN SOCIAL INVESTING FIRM
Bridges Ventures, the venture capital firm founded by
Sir Ronald Cohen to invest in deprived areas of the UK,
will on Monday reveal an advisory board featuring some
of the UK's leading financial figures, highlighting the
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