The IBE monitors the UK media for stories about business ethics issues and challenges.
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Brazil’s state-owned oil company Petrobras has sought to allay one of the principal concerns of investors by detailing a new pricing formula for petrol and diesel sales.
The company said the new policy would be based on international market prices plus a margin for operational risks, profits and taxes in contrast to the old model that was seen as opaque and subject to political interference.
Thousands of women who work in Asda stores have won the right to lodge the UK’s largest private sector equal pay claim. An employment tribunal ruled that the women, who work in roles across the shopfloor, can compare their jobs with those done for a higher wage in Asda’s warehouses, predominantly by men.
Wells Fargo's chief executive, John Stumpf, is to resign immediately in the wake of a scandal over its sales practices, the bank has announced. The bank is investigating how two million accounts were opened without customers' permission.
HSBC UK and Royal Bank of Scotland have pledged to fill 30 per cent of their
senior roles with women within five years. They also will publish their
progress on gender balance annually and will make a senior staffer, usually the
chief executive, responsible for achieving the target
RBS crushed thousands of businesses during the financial crisis to increase its own profits, leaked documents show. Internal emails handed to Buzzfeed News and the BBC show the bank implemented a plan to squeeze customers facing financial difficulty and gave bonuses to staff for identifying struggling firms.
Royal Mail executives are to be summoned by the government following allegations that it delivered scam letters aimed at conning vulnerable people out of money. The UK’s dominant postal service has been accused of making money from distributing mail, sent by international criminals, that defrauded victims out of large sums of cash.
The Serious Fraud Office has ramped up its investigation into ENRC after a landmark $412m (£331m) bribery settlement in America. The Treasury has approved new ring-fenced funding for the watchdog’s probe into the former FTSE 100 mining giant. The inquiry into alleged fraud, bribery and corruption at its operations in Africa and Kazakhstan began in 2013.
TalkTalk has been hit with a record £400,000 fine for the security failings that led to the company being hacked in October 2015. The Information Commissioner's Office levied the fine saying that the attack "could have been prevented if TalkTalk had taken basic steps to protect customers’ information”.
Aviva has been hit with a £8.2m fine for failing to comply with rules in place to protect its customers’ money. The Financial Conduct Authority said Aviva Pension Trustees UK and Aviva Wrap UK had inadequate controls in place after outsourcing the administration of custody assets to a third party firm.
An intellectually disabled man has been fired from Bunnings for a taking a drink bottle from a locker room.
For over seven years, Seaton Clark, 45, has managed the trolleys at Bunnings Warehouse in Shirley, Christchurch.
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