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3rd June Financial Times ORGANIC
FARMER PLANS TO TURN ABU DHABI'S DESERT GREEN
A pilot project aimed at boosting health and sustainability
in Abu Dhabi is turning into a full-scale commercial
venture, with an array of organic fruit and vegetables
being produced from the reddish sands near Abu Dhabi
airport. http://www.ft.com/cms/s/2421aa94-10a6-11dc-96d3-000b5df10621.html
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4th June
Guardian UNION SEEKS TAX ON PRIVATE EQUITY TO REFUND PENSION
LOSSES
Paul Kenny, the leader of GMB union, has called on Gordon
Brown to introduce a windfall tax on private equity to
repay taxpayers the hundreds of millions of pounds lost
through the collapse of occupational pension schemes after
firms taken over by venture capitalists have gone bust.
http://business.guardian.co.uk/story/0,,2094584,00.html |
4th June
Independent BP CHIEF EXECUTIVE VOWS TO STICK TO GREEN
AGENDA AHEAD OF G8 SUMMIT
Nic Fildes reports that Tony Hayward, the chief executive
of BP, will reinforce the oil giant's commitment to its
alternative energy strategy in a speech in Berlin today
ahead of the G8 summit, quelling fears that the recently
anointed head of the company was set to abandon the "Beyond
Petroleum" strategy of his predecessor. http://news.independent.co.uk/business/news/article2611769.ece |
4th June
Guardian THE ECO-DIET ... AND IT'S NOT JUST ABOUT FOOD
MILES
Consumers need more information about the environmental
impact of the food in their shopping basket if they are
to make eco-friendly choices, according to researchers
who have carried out a detailed analysis of the ecological
costs associated with food. They argue that the focus
on "food miles" is missing the bigger picture
and may be counter-productive.
http://environment.guardian.co.uk/food/story/0,,2094795,00.html
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4th June
Guardian BA CHIEF URGES ACTION ON ENVIRONMENT
British Airways chief executive Willie Walsh has urged
the airline industry to take collective action on the
environment, including the adoption of measures such as
a sector-wide fuel efficiency target. http://business.guardian.co.uk/story/0,,2094860,00.html |
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4th June Guardian THE HIDDEN BRAIN DRAIN
Five years ago, Sylvia Ann Hewlett terrified women with
her book Baby Hunger, a warning against leaving motherhood
till too late. Now she's back with another shocking
message: employers are writing off women once they've
had children. And we're all losing out, she tells Emily
Wilson. http://business.guardian.co.uk/story/0,,2094856,00.html
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4th June
Times CARBON MAP OF BRITAIN'S MOST TOXIC CITIES
The first carbon emissions map of Britain is released
today to show which parts of the country are responsible
for pumping out the most pollution. The map and a table
listing the emissions of more than 30 towns and cities
were put together by the Carbon Trust to encourage homes
and businesses to cut their carbon consumption
http://www.timesonline.co.uk/tol/news/uk/article1878659.ece
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4th June
Guardian WORKERS OF THE WORLD UNITE OVER ABN TAKEOVER
Trade unions across the world are uniting to fight the
job cuts that would result from the proposed takeover
of ABN AMRO. A meeting today will try to develop a cross-border
response to the acquisition, which will see 23,600 jobs
axed if Barclays is successful in taking over the Dutch
bank. ABN AMRO has also received an unsolicited approach
from a consortium led by the Bank of Scotland. http://business.guardian.co.uk/story/0,,2094581,00.html |
4th June
Independent SPENDING ON CONSUMER GOODS DWARFS AID CONTRIBUTIONS
The Independent looks at how the world's richest countries
could do a lot more for the poor. According to the newspaper,
German women spend more on shoes than the German government
spends on aid; British people spend twice as much on wine
and champagne as the government does on aid; Italians
spend more on ice cream than the country provides in overseas
aid; and the list goes on. http://news.independent.co.uk/world/politics/article2611752.ece |
5th June
Guardian UNION LEADER ATTACKS 'CORPORATE BULLYING'
Gordon Brown will come under pressure today to strip private
equity firms of tax breaks that allow their owners to
pay as little as 5% tax. Union leaders will tell the chancellor
he must reform the tax regime to prevent private equity
firms from reaping huge rewards from their investments,
when he addresses the GMB conference in Brighton.
http://business.guardian.co.uk/privateequity/story/0,,2095464,00.html
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5th June
Guardian THIS WILD WEST CAPITALISM IS BORN OF SERVILITY
TO THE CITY
The private equity sector, with its attendant risks to
employees, pensioners and tax revenue, should be reined
in and regulated.
http://business.guardian.co.uk/privateequity/story/0,,2095569,00.html
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5th June
Telegraph COCA-COLA COMMITS $20M FOR WATER AID
The chief executive of Coca-Cola will today pledge to
replace "every drop" of water used by the soft
drinks company through a multi-million-dollar programme
that will reflect the environment's growing prominence
on the agenda of the world's biggest corporations, writes
Mark Kleinman.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/06/05/cncola05.xml
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5th June
Guardian MASSACRES AND PARAMILITARY LAND SEIZURES BEHIND
THE BIOFUEL REVOLUTION
Armed groups in Colombia are driving peasants off their
land to make way for plantations of palm oil, a bio-fuel
that is being promoted as an environmentally friendly
source of energy. Surging demand for "green"
fuel has prompted right-wing paramilitaries to seize swaths
of territory, according to activists and farmers.
http://www.guardian.co.uk/colombia/story/0,,2095348,00.html |
5th June
BBC NIGERIA SUES DRUG GIANT PFIZER
Nigeria has filed charges against the pharmaceutical company
Pfizer, accusing it of carrying out improper trials for
an anti-meningitis drug. The government is seeking $7bn
(£3.5bn) in damages for the families of children
who allegedly died or suffered side-effects after being
given the drug Trovan. Pfizer - the world's largest pharmaceutical
company - tested the experimental antibiotic Trovan in
Kano during an outbreak of meningitis which had affected
thousands in 1996. Some 200 children died and others developed
mental and physical deformities. The government says the
deaths and deformities were caused by Trovan and that
the children were injected with the drug without approval
from Nigerian regulatory agencies. The firm denies any
wrongdoing, saying the trials were conducted according
to Nigerian and international law. http://news.bbc.co.uk/1/hi/world/africa/6719141.stm |
5th June
Financial Times CLIMATE CHANGE 'NOT A PRIORITY'
John Willman and Kate Burgess report that a KPMG survey
of business leaders has found that climate change is bottom
of the priority list for Britain's largest companies.
The survey said there were more urgent issues, such as
brand awareness, marketing strategies and corporate social
responsibility. Just 14 per cent of them had a clear strategy
for tackling climate change. http://www.ft.com/cms/s/f89986c6-1302-11dc-a475-000b5df10621.html
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6th June
Guardian BROWN CHEERS UNION WITH VOW ON PRIVATE EQUITY
TAX LOOPHOLES
Gordon Brown signalled a crackdown yesterday on tax loopholes
for private equity firms once a Treasury review of the
system is complete.
The incoming prime minister told delegates to the GMB
union congress in Brighton: "We will make sure that
there is justice and equity in the treatment of the tax
arrangements in that area." http://business.guardian.co.uk/story/0,,2096227,00.html
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6th June
Guardian DOCTORS CALL FOR HIGHER TAXES TO DETER UK'S 7M
HARMFUL DRINKERS
The government yesterday launched a 10-year strategy to
tackle more than 7 million "hazardous and harmful"
drinkers in the UK. It is hoped that the plan, launched
jointly by the Home Office and the Department of Health,
will lead to a radical shift towards personal responsibility
for sensible consumption, both at home and in bars and
pubs. The strategy came under immediate criticism from
those who think tackling levels of drinking in the UK
must start with a ban on cut-price alcohol promotions
like 'happy hours'. Further surveys and investigations
are being carried out to ascertain what methods will be
most effective in curbing the nation's drinking. http://www.guardian.co.uk/uk_news/story/0,,2096315,00.html
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6th June
Times DELL TELLS ITS SUPPLIERS TO TURN GREEN OR ELSE BE
BLACKLISTED
Dell is to discriminate between suppliers on the basis
of how green they are and will blacklist those that do
not curb their impact on the environment.
The move, the latest effort by the second-largest computer
maker to burnish its own green credentials, was announced
by Michael Dell, its chief executive, in London yesterday.
http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article1890190.ece
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6th June
Guardian TOYOTA ORDERED TO DROP TV COMMERCIAL FOR HYBRID
VEHICLE
The Advertising Standards Authority has accused Japanese
car maker Toyota of breaching UK advertising laws by exaggerating
their latest car model's environmental benefits. The ad
claimed that the Toyota Prius, a hybrid car that runs
partly on electricity when at low speeds, emitted up to
a tonne of CO2 less a year than competitor cars running
on diesel. This data is based on US annual mileage however,
which is on average nearly 700km more than that of the
UK. The ASA agreed the Prius emitted "significantly
less" CO2 than some other cars with greater engine
capacity, but added that "we did not consider their
evidence demonstrated that it emitted one tonne less than
equivalent vehicles with diesel engines or that it took
into account the average annual distance driven by private
cars in the UK". http://environment.guardian.co.uk/waste/story/0,,2096364,00.html |
6th June
Financial Times DRIVE ON BIOFUELS RISKS OIL PRICE SURGE
Opec yesterday warned Western countries that their efforts
to develop biofuels as an alternative energy source to
combat climate change risked driving the price of oil
"through the roof". The warning from Opec, which
controls about 40 per cent of global oil production, comes
amid worries that pressures for biofuels are causing food
global food prices to escalate, and at a time when climate
change is topping the G8 conference agenda. The global
benchmark for oil shows that the price of a barrel is
at a nine-month high, and Abdalla El-Badri of Opec has
warned that the biofuel strategy championed by Bush and
European leaders is set to backfire.
http://www.ft.com/cms/s/3318096c-13cb-11dc-9866-000b5df10621.html |
6th June
Financial Times FAIR SHARES FOR ALL
A leader comment from The Financial Times questions the
logic that European Union law-making will help lead to
increased shareholder rights. The article argues that
the report published by the European Commission last week
has 'failed to provide unequivocal evidence about how
voting rights for investors affected value'.
Further, the law that resulted has 'made key provisions
optional' and 'even enabled new defensive hurdles to be
erected in some circumstances'. The article finishes by
suggesting that companies should always give clear explanations
as to why they have deviated from the 'one share, one
vote' approach, showing how this is value effective.
http://www.ft.com/cms/s/4d1a4222-13ca-11dc-9866-000b5df10621.html |
7th June
Independent OFCOM TO INVESTIGATE TELECOMS FIRMS' PENALTY
CHARGES
Ofcom has launched an industry-wide investigation into
penalty charges that telecoms companies levy against customers
who are late paying a bill or cannot pay via direct debit,
mirroring a crackdown on banks that over-charge customers
who exceed their overdraft. http://news.independent.co.uk/business/news/article2621971.ece
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7th June
Financial Times BAE 'SECRETLY PAID' SAUDI PRINCE
BAE Systems paid more than £100m a year to Saudi
Arabia's former ambassador to Washington over more than
a decade in connection with Britain's biggest ever defence
contract, according to British media reports. http://www.ft.com/cms/s/e37553d2-147f-11dc-88cb-000b5df10621.html
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7th June
Guardian RECYCLED COATHANGERS AND CHEERIER CHICKENS FEATURE
IN M&S ENVIRONMENTAL PLEDGE
Marks & Spencer has listed their 100-point plan to
tackle issues relating to sustainability, fair business,
healthy lifestyle and environmental change. The list of
pledges, known as Plan A, was published today, alongside
their annual report and accounts. Mike Barry, head of
corporate social responsibility at M&S said that the
changes were part of a long process where the supermarket
had learnt to listen to their customers, 97% of whom said
they wanted M&S to be a responsible business. http://business.guardian.co.uk/story/0,,2097036,00.html
The report and plan can be found at: http://www.marksandspencer.com/ |
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7th June Guarddian US REGULATOR TRIED TO SMEAR SCIENTIST
IN FIGHT FOR GLAXO DRUG
IT has been found not only that employees of drug giant
GSK tried to stifle early criticism of their diabetes
drug Avandia, but that staff from the US food and drug
regulatory administration were also involved. When Dr.
John Buse made public his fears that Avandia could cause
heart problems in 1999, GSK threatened him with a $4bn
lawsuit. Later, when Dr. Nissen support Dr. Bute's claims,
the food and drug administration sent the press links
to websites with baseless information that would smear
the doctor's reputation. A study by Dr. Nissen showed
that diabetics taking Avandia suffered 47% more heart
problems than those not taking the drug. http://business.guardian.co.uk/story/0,,2097048,00.html
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7th June
Financial Times COMPUTER MAKERS MISS THE BIG GREEN PICTURE
This article examines whether the computer industry's
environmental pledges are geniune. Last week Dell pledged
to cut their greenhouse emissions by 15% over the next
five years, but this is only addressing a small corner
of the bigger problem at hand. When over a tonne of waste
material is produced to make a computer, should these
companies not be tackling the larger, and more difficult
issues, of recycling and reusing, rather than carbon neutral
schemes? Further, should they not be concentrating on
giving their products longevity, rather than encouraging
consumers to buy the new, more energy efficient versions?
http://www.ft.com/cms/s/10c521be-1494-11dc-88cb-000b5df10621.html
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7th June
Guardian CONTAMINATED AIDS DRUG IS RECALLED THROUGHOUT
EUROPE
An unprecedented emergency recall of all stocks of an
Aids drug in the UK and the rest of Europe was ordered
last night because the tablets contain a dangerously high
level of a cancer-causing chemical. The European Medicines
Evaluation Agency, which ordered the first all-Europe
recall in its history, said they had no reason to suspect
foul play. Roche, the Swiss manufacturer has warned that
around 550 people in the UK could be affected by the accident,
with many more in Europe and Africa coming under threat.
Those with prescriptions have been warned that affected
tablets have a 'strong odour', making them easily identifiable.
http://www.guardian.co.uk/aids/story/0,,2097197,00.html
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8th June
Guardian ATTORNEY-GENERAL KNEW OF BAE AND THE £1BN.
THEN CONCEALED IT
British investigators were ordered by the attorney-general
Lord Goldsmith to conceal from international anti-bribery
watchdogs the existence of payments totalling more than
£1bn to a Saudi prince, the Guardian can disclose.
http://www.guardian.co.uk/baefiles/story/0,,2098232,00.html
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8th June
Financial Times NEXT STEP IS 'POSITIVE' CARBON NEUTRALITY
Banks are firmly in the lower divisions when it comes
to greenhouse gas emissions. Power stations burn coal
or gas, chemicals companies have factories that may spew
out gases and steelmakers have huge power needs but banks
have been at the forefront of cutting their emissions,
and now they are using their experience to help their
clients to do the same. www.ft.com/cms/s/3cd347b6-12b1-11dc-a475-000b5df10621,dwp_uuid=6ee0283a-0c55-11dc-a4dc-000b5df10621.html
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8th June
Independent CHOCOHOLICS MAY BE FUNDING WAR IN AFRICA
Claire Sores reports that British chocoholics may have
unwittingly helped fund an African conflict, with an estimated
$120m (£60m) from the cocoa trade being siphoned
off into war chests in Ivory Coast, according to a Global
Witness report released today. http://news.independent.co.uk/world/africa/article2631528.ece
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8th June
Metro BURNT-OUT BRITS WORK LONGEST HOURS
Workaholic Britons toil away longer every week than any
other nation in the developed world, alarming new United
Nations figures show. A quarter of the workforce - around
7million people - put in more than 48 hours a week. That
puts us way ahead of the rest of Europe and even the hard-grafting
Americans, says the International Labour Organisation,
a UN agency. http://www.metro.co.uk/news/article.html?in_article_id=52256&in_page_id=34
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8th June
Financial Times TRAIN OPERATORS URGED TO CONSIDER BIOFUELS
Gordon Brown has called on every British train operator
to consider using biofuels for diesel trains after Virgin
Trains introduced Europe's first train to run partly from
fuels derived from crops. www.ft.com/cms/s/d52a673a-155c-11dc-b48a-000b5df10621.html
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8th June
Independent SUGAR STANDS ACCUSED OF SEXISM AFTER APPRENTICE
QUITS
Yesterday Sir Alan Sugar's hit series, the Apprentice,
became the target of vehement criticism after the businessman
was accused of breaching sex discrimination laws during
a marathon session of gruelling questioning. The TUC and
the Equal Opportunities Commission were among those warning
that the show was sending the wrong signal to business
after mother of two Katie Hopkins, who has become a controversial
cult star of the series, was quizzed about her children
during a set of interviews to choose the two finalists
to battle it out for a £100,000 job in Sir Alan's
empire. http://news.independent.co.uk/media/article2631548.ece
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8th June
Guardian CARCINOGEN LEVELS IN SOIL FALLING THANKS TO TOUGH
RULES, SAYS STUDY
Britain's soil is getting cleaner, with levels of cancer-causing
pollutants dropping in the last 20 years because of strict
regulation of chemical emissions into the environment,
according to a study. Scientists sampled vegetation from
203 sites for pollutants and compared levels with past
surveys. The results showed that pollutant levels were
either steady or had dropped dramatically due to action
taken to reduce emissions in the past 40 years. http://environment.guardian.co.uk/waste/story/0,,2098388,00.html
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8th June
BBC WHOLE-FAT MILK A VICTIM OF NEW TV ADVERT RULES
The Food Standards Authority has declared that Asda's
full-fat milk is not nutritious enough to be advertised
to children. The ruling has meant that ASDA have been
forced to restrict its new commercials to skimmed varieties
and caused confusion over the new FSA advertising rules,
which in theory should allow whole milk to pass as nutritious.
While the supermarket has criticised the advertising formula
as flawed and erratic, the FSA have pointed the finger
back, saying: 'It is up to ASDA to determine why their
milk differs from the official figures.' http://news.bbc.co.uk/1/hi/health/6732805.stm
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10th
June Sunday Times BAE HIRES OUTSIDER FOR ARMS INQUIRY
BAE SYSTEMS is to recruit an independent panel to investigate
its conduct of foreign arms sales in an attempt to draw
a line under allegations of corruption in its dealings
with Saudi Arabia. Senior defence industry sources said
that BAE had already begun talks with potential candidates
to chair the investigation. It is understood to be looking
for a senior political or business figure with a legal
background. The panel could take the form of an ethics
committee similar to those established by American defence
contractors.
http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article1908881.ece |
10th June
Observer TUC CALLS FOR END TO BUYOUT TAX BREAKS
UK union chief Brendan Barber has thrown down the gauntlet
to Gordon Brown, urging him to curb lucrative tax advantages
enjoyed by the private equity industry.
http://observer.guardian.co.uk/business/story/0,,2099220,00.html |
10th June
Independent BRIBERY TEAM PROBING BAE CASE ALLEGES UK DIRTY
TRICKS
Staff at the world's anti-bribery watchdog claim they
were targets of a British-led "dirty tricks"
campaign after they began investigating the Government's
decision to halt an official inquiry into secret commission
payments to a Saudi prince. Senior employees at the Organisation
for Economic Co-operation and Development (OECD) allege
they were smeared by Britain and put under pressure to
drop their probe into allegations that BAE paid bribes
to win Saudi arms deals.
http://news.independent.co.uk/uk/politics/article2640421.ece
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10th June Sunday Times City gets lessons in ethics
Do morals exist in the Square Mile? A new book examines
business dilemmas, based on true cases. The books, Integrity
at Work, is a joint project by the Securities and investment
Institute and the Institute of Business Ethics. http://business.timesonline.co.uk/tol/business/article1908975.ece
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11th
June Guardian CHILDREN EXPLOITED IN OLYMPICS GOODS FACTORIES,
SAYS TUC
Olympics merchandise is being made in factories employing
children to work for up to 15 hours a day on minimal wages,
research for the TUC has revealed.
http://www.guardian.co.uk/uk_news/story/0,,2100024,00.html |
11th June
Times CADBURY SCHWEPPES GETS TASTE FOR LOW-CALORIE CONFECTIONERY
A new range of low-sugar sweets and chocolates is being
planned by Cadbury Schweppes as it redirects investment
to meet the changing tastes of increasingly health conscious
consumers. http://business.timesonline.co.uk/tol/business/industry_sectors/consumer_goods/article1913128.ece |
11th June
Guardian IKEA SHINES LOW-ENERGY LIGHT ON ENVIRONMENTAL
CONCERNS
As part of its strategy to improve its environmental credentials,
the Swedish furnishing group plans to give each of its
9,600 British employees six low-energy light bulbs, which
it will replace for free once they stop working after
about five years. http://business.guardian.co.uk/story/0,,2099891,00.html
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11th June
Financial Times EMPLOYERS FAILING TO RETAIN STAFF
Almost 80 per cent of employers struggled to keep hold
of staff last year forcing them to turn to migrant workers
and retrain less skilled employees, according to a study
published today by the Chartered Institute of Personnel
and Development. http://www.ft.com/cms/s/015acd7e-17b8-11dc-86d1-000b5df10621.html
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11th June
Guardian HUNDREDS OF WORKERS DIE AS INDIA'S TEA INDUSTRY
SUFFERS CRISIS
India's tea plantations are riddled with malnourished
workers dying of hunger and disease, a report has shown.
The country's tea industry has recently been hailed as
an example of how to cope with globalisation - cutting
costs while expanding overseas. However, as recent findings
show, these cost cuts come at a cost to human life. An
inquiry into the fading fortunes of tea estates in Jalpaiguri,
a remote part of West Bengal state bordering the Himalayan
kingdom of Bhutan, found last week that at least 700 Indian
tea workers have died from diseases linked to malnutrition
in the year after 16 estates were closed. India, the world's
largest producer and consumer of tea, has laws that theoretically
protect the industry's remaining 200,000 workers, although
the scramble for markets has meant that few
of these are enforced. http://www.guardian.co.uk/india/story/0,,2100005,00.html |
11th June
International Herald Tribune U.S. REGULATORS ASSESS THE
USE OF NON-ORGANIC INGREDIENTS IN ORGANIC FOODS
Debates over the integrity of organic labelling have been
sparked in the U.S. this week after it was revealed that
the Department of Agriculture is poised to approve a list
of non-organic ingredients that can be used in food stamped
with its green-and-white organic seal. The list includes
ingredients like hops for beer, dillweed oil for flavoring
dill pickles, and elderberry juice coloring for making
foods bright red to blue purple. There's also chia, a
herb from Central America that is used in some baked goods,
and fructooligosaccharide, a bulking agent that adds fibre.
To be labelled organic, a product must contain less than
5% of non-organic ingredients from this approved list.
Organic purists are accusing the Department of Agriculture
of helping big businesses to cash in on the organic food
movement without upholding its integrity.
http://www.iht.com/articles/2007/06/11/business/organic.php |
11th June
Independent END OF INNOCENCE?
John Simmons examines the impact that a deal with McDonalds
has had on the branding of Innocent smoothies. Since it
was announced that Innocent drinks would be sold with
kids meals by the fast food retailer, there has been a
torrent of complaints from customers who feel the ethical
drinks company has sold out to the corporation. Only time
will tell if this is a branding disaster, although it
is clear that the drinks company has many things working
in its favour. Simmons argues that PJs, owned by Pepsi-co
and considered the only serious competitor, is lower in
quality and lacks branding personality which has allowed
Innocent to dominate the market.
http://news.independent.co.uk/media/article2640863.ece |
12th June
Guardian EQUALITY BILL CONSULTATION
Golf clubs and other private members' establishments will
no longer be able to ban women members from their bars
or discriminate in any other way on gender grounds under
a shakeup of equality laws unveiled today. The change
is outlined in a government consultation paper aimed at
rationalising the UK's complex web of discrimination legislation,
some of which dates back 40 years, and introducing new
protection for some groups.
http://www.guardian.co.uk/gender/story/0,,2100855,00.html |
12th June
Guardian FSA TO CLOSELY MONITOR PRIVATE EQUITY LENDING
City regulators are to conduct a twice-yearly survey of
banks that lend to private equity houses in order to monitor
the "excessive" levels of debt the fast-growing
industry has been injecting into the businesses it controls.
http://business.guardian.co.uk/story/0,,2100533,00.html |
12th June
Telegraph WATCHDOG STEPS UP SEARCH FOR ABUSES BY BIG COMPANIES
James Quinn reports that the Financial Services Authority
is to step up its supervision and monitoring of the British
private equity industry in light of a year-long study
into the at-times controversial sector. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/06/12/cnfsa112.xml
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12th June
Guardian BUSINESSES ACCUSED OF GREEN HYPOCRISY
The business community was accused yesterday of "cynicism"
for saying one thing and doing another in the fight against
climate change.
At a "summit" on the issue organised by the
Guardian in London, Tony Juniper, executive director of
Friends of the Earth, accused Shell of sponsoring the
event in a bid to align itself with green issues while
failing to clean up its own act. http://business.guardian.co.uk/story/0,,2100804,00.html
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12th June
Telegraph FIRMS UNSURE ABOUT 'NO-SMOKING'SIGNS
Tens of thousands of businesses are completely unaware
that they will be required by law to display "No
Smoking" signs at the entrances to their shops and
offices in 19 days time, according to the latest Government-backed
research. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/06/12/cbsmoke112.xml |
12th June
Guardian FOR CHRISTMAS I DON'T WANT A PLASTIC BAG
We Are What We Do, the organisation behind the Anya Hindmarch
'I'm not a plastic bag' campaign, has already started
lobbying for Britain's first plastic-bag free Christmas.
The organisation is hoping to persuade retailers to encourage
shoppers to bring their own bags by sporting a 'Plastic
ain't my bag' logo sticker. The branding campaign will
be accompanied by a 'tracking' system that will log the
number of plastic bags being distributed by each retailer.
Those who have already pledged support include Virgin
Megastores, Foyles bookshop, and 2,000 Dermalogica beauty
salons. We Are What We Do says each person in the UK uses
on average 167 plastic bags a year - some 10bn in total.
A plastic bag takes up to 500 years to decay. http://environment.guardian.co.uk/waste/story/0,,2100835,00.html |
12th June
Guardian FOCUS ON COTTON IN CAMPAIGN TO END SCOURGE OF
CHILD LABOUR
The Environmental Justice Foundation (EJF) has launched
a campaign against clothes makers and retailers for the
use of child labour in producing cotton. "The true
cost of the shirt you are wearing may well be much higher
than the bargain price you paid in one of the UK's many
'value shops'," said Steve Trent, executive director
of EJF. The campaign is part of World Day Against Child
Labour, which is targeting the $32bn (£16bn) a year
global cotton industry - one of the main employers of
child labour in the agriculture sector. The EJF's calls
come after the TUC revealed yesterday that merchandise
for the Beijing Olympics is being made in factories employing
children to work for up to 15 hours a day on minimal wages.
"Retailers have a duty to know the history of the
products they sell through a transparent supply chain
to help prevent this human exploitation," Mr Trent
said.
http://business.guardian.co.uk/story/0,,2100810,00.html |
13th June
Guardian TREASURY COMMITTEE MPS GRILL PRIVATE EQUITY BOSSES
OVER TAX BREAKS
Private equity executives came under attack yesterday
from MPs on the Treasury select committee, who accused
them of avoiding millions in tax and destroying jobs when
taking over companies that included British household
names. http://business.guardian.co.uk/story/0,,2101580,00.html
|
13th June
Independent DIXONS CALLS ON ELECTRONICS SUPPLIERS TO ABOLISH
STAND-BY
Dixons Store Group, Europe's biggest electrical chain,
is to pioneer a phase-out of energy-guzzling stand-by
functions on TVs and DVD players that drain electricity
and waste money. Dixons, which runs Currys and PC World
as well as Dixons online store, will exhort manufacturers
to ditch stand-by after noticing a rise in the sale of
energy-efficient products. Around 10 per cent of the average
household's electricity bill is wasted through gadgets
left on when not in use, costing the average home £37
a year.
http://environment.independent.co.uk/climate_change/article2651054.ece |
13th June
Financial Times GSK TO FIGHT CASE OVER DIABETES DRUG
GlaxoSmithKline is facing an investor class action lawsuit
in the US, claiming that the company issued a series of
"false and misleading statements" about Avandia,
its diabetes drug, to the detriment of shareholders. Shares
in GSK have dropped about 10% since a study published
in the New England Journal of Medicine last month linked
Avandia with an increased risk of heart attacks and death.
Kaplan Fox & Kilsheimer, a law firm that specialises
in fighting corporate fraud, has filed a class action
suit in New York on behalf of investors who felt the drugs
company failed to disclose results showing links between
the new drug and heart problems. GSK said that it "stands
firmly behind the safety of Avandia when used appropriately."
http://www.ft.com/cms/s/d9696a10-194b-11dc-a961-000b5df10621.html |
13th June
Guardian POWER FIRMS POCKET £1.5BN OF THEIR CUSTOMERS'
CASH
Consumer website uSwitch.com has revealed that millions
of households are paying too much to their power suppliers
because they have remained on standard tariffs instead
of being transferred to the new cheaper rates. The price
cuts that many power firms have announced recently have
not been handed onto those customers who still use paper
billing instead of managing their account online. The
watchdog calculates that more than 12.5m households -
or just over half of the market - are not receiving the
reduction they are due, resulting in a total overpayment
about £1.5bn a year. http://business.guardian.co.uk/story/0,,2101430,00.html |
13th June
Financial Times WHICH IS GREENEST - DESKTOP OR LAPTOP?
This article looks at the responsibility of IT professionals
to understand where their computers are sourced from,
how they are disposed of and how they are run. The latest
generation of PCs offer lower running costs and a smaller
carbon footprint than older computers. But this should
be set against the capital cost of buying new hardware,
responsible disposal of the old equipment and how wasteful
production of the computer is. Lars Meiritz, a vice-president
at industry analyst Gartner, argues that running cost
are not the only, or the most important thing, to consider:
'The environmental footprint of a PC and monitor together
breaks down as 30 per cent in use and 70 per cent embodied,
and with a laptop, 80 per cent of the costs are embodied,
and 20 per cent are in use. It is essential to look at
the whole lifecycle.'
http://www.ft.com/cms/s/49b7eb30-15d6-11dc-a7ce-000b5df10621.html |
13th June
Financial Times FOOD GROUPS TO BE CRITICISED FOR 'HYPOCRISY'
OVER BIOFUELS
Food producers will today come under fire for their "hypocrisy"
in blaming biofuels for arising food prices. Peter Kendall,
president of the National Farmers' Union, will launch
a strong defence of biofuels at a national conference
for cereal producers in Cambridgeshire. http://www.ft.com/cms/s/cc6def2a-194b-11dc-a961-000b5df10621.html
|
14th June
Independent A WORLD WITHOUT OIL
World oil supplies are set to run out faster than expected,
warn scientists. Scientists challenge major review of
global reserves and warn that supplies will start to run
out in four years' time http://news.independent.co.uk/sci_tech/article2656034.ece
|
14th June
Financial Times CALL GROWS TO EXTEND FLEXIBLE WORKING
Jean Eaglesham writes that Gordon Brown will today come
under increased pressure to extend employees' rights to
flexible working, with both political opponents and the
frontrunners in Labour's deputy leadership race backing
a change in the law. http://www.ft.com/cms/s/42415346-1a13-11dc-99c5-000b5df10621.html
|
14th June
Financial Times PRIVATE EQUITY TRADE BODY UNDER FIRE
The deepening political controversy over private equity
has increased pressure on the industry trade body to overhaul
its crisis-stricken leadership and structure amid signs
of revolt by its members, writes Martin Arnold. http://www.ft.com/cms/s/e4b95632-1a13-11dc-99c5-000b5df10621.html
|
14th June
Financial Times IN THE PURSUIT OF HAPPINESS
Rosa Chun, a professor of business ethics and corporate
social responsibility at Manchester Business School, has
produced a study that reveals happy staff does not necessarily
mean happy customers. The research, conducted over the
financial services, food retailing, telecommunications
and insurance industries, asked consumers and workers
a series of questions about consumer and personal satisfaction.
She concluded that "Most managers believe the link
because they have read some books, but when you dig into
their actual experience, they have very little evidence".
Now fundamental changes to the 'service profit chain theory'
are brewing and a search for the successor is underway.,
p.14,
http://www.ft.com/cms/s/33209ec4-1a15-11dc-99c5-000b5df10621.html |
14th June
Financial Times CITY PACKAGES INCREASE AS TALENT WAR RAGES
Andrew Taylor writes that the war for top talent in the
City is intensifying, with employers offering generous
compensation packages to keep key staff.
http://www.ft.com/cms/s/8c5b87e4-1a13-11dc-99c5-000b5df10621.html
|
14th June
Guardian PROGRESS MUST BE MEASURED
Ita McMahon of the London Benchmarking Group argues the
case for measuring successes in corporate-charity partnerships.
Without effective measurement, there can be no way of
ensuring that funds are being properly spent on projects,
she argues, adding that 'measurement is the backbone of
effective management. It is not just about the end number
generated by the measurement process, but the discipline
that measurement itself engenders". When the partnership
is more complex, with multiple charities involved, using
a proper system to measure project output becomes even
more important.
http://www.guardian.co.uk/vukf/reach/story/0,,2101071,00.html |
14th June
Wall Street Journal GLAXO AND SANOFI TO DONATE FLU VACCINE
TO WHO
GlaxoSmithKline said it is donating 50 million doses of
its prepandemic influenza vaccine to the World Health
Organisation, while Sanofi-Aventis said it is donating
a "significant" number of vaccine doses to WHO.
The donations will allow the WHO to distribute the vaccines
to the world's poorest countries at short notice to prevent
flue pandemics. Clinical trials have shown GSK's vaccines
to provide cross-immunity against diverse strains of the
H5N1 virus - the bird-flu virus - which is thought to
be the most likely to cause the next global flu pandemic
in humans. At two shots per person, it is estimated that
the donation will immunise more than 25 million people.,
http://online.wsj.com/article/SB118177217360034429.html?mod=home_whats_news_europe |
15th June
Guardian EXXON ATTACKS GREENPEACE BUT SAYS IT WANTS TO
SAVE THE PLANET
ExxonMobil criticised Greenpeace, the Kyoto treaty and
the European carbon trading system yesterday but insisted
it was not a "climate change denier" and said
it wanted to play a constructive role in countering global
warming, writes Terry Macalister http://business.guardian.co.uk/story/0,,2103541,00.html
|
15th June
Financial Times 'SWAMPY DOES CORPORATE GOVERNANCE CLAIMS'
Terry Smith, the chairman of Collins Stewart, has lashed
out at shareholders who complain about uncapped bonuses
and demand "platitudes" on environmental commitments
and other such "tosh". Mr Smith, who is also
chief executive of inter-dealer broker Tullett Prebon,
said investors who pester him with paperwork before annual
meetings have "an approach to business [that] might
be described as 'Swampy does corporate governance'."
http://www.ft.com/cms/s/490962b6-1aa6-11dc-8bf0-000b5df10621.html |
15th June
Global Business Coalition EIGHT COMPANIES AWARDED FOR
FIGHTING GLOBAL EPIDEMICS
The 6th Annual GBC Awards for Business Excellence Gala,
held in New York last night, saw eight companies awarded
for their 'outstanding contributions in the fight against
AIDS, TB and malaria'. The HIV/AIDS winners included Chevron
(workplace); Coca-Cola China Beverages, (community); Standard
Chartered (core competency); Abbott and Abbott Fund (national
action); Eskom Holdings Ltd. (testing and counselling);
and HBO (advocacy & leadership). Eli Lilly & Company
received the tuberculosis award and Marathon Oil Corporation
received the malaria award. GBC's President Ambassador,
Richard Holbrooke, said: 'The companies honoured prove
that the private sector can make a significant difference
and pave the path for additional action." http://www.businessfightsaids.org/site/apps/nl/content2.asp?c=gwKXJfNVJtF&b=2640169&ct=3961063 |
15th June
Independent FOOD AND DRINK MANUFACTURERS TO CUT PACKAGING
Some of the world's most powerful food and drink manufacturers
- including Cadbury Schweppes, Britvic, Dairy Crest, Hovis,
Mars, Nestle and Coca-Cola - have promised to reduce packaging
on a large range of everyday products. The multinational
companies have committed to halt the relentless rise in
packaging by next year and to reverse it by 2010 as part
of the Courtauld Commitment, the voluntary packaging-limiting
scheme promoted by the government and already endorsed
by Tesco, Boots, Sainsbury and ASDA. Each year an estimated
6.3 million tonnes of packaging reaches British homes,
costing the average family more than £400. By 2008,
the Courtauld Commitment aims to "design out"
the rise in packaging and, by 2010, to cut packaging by
340,000 tonnes, 5 per cent, though signatories have individual
targets as high as 25 per cent.
http://environment.independent.co.uk/lifestyle/article2659724.ece |
15th June
Guardian CADBURY ADMITS SALMONELLA CHARGES
Confectionery giant Cadbury today pleaded guilty to three
offences under food and hygiene regulations in connection
with a salmonella scare which led to the recall of more
than 1m chocolate bars. Mr Scrivener told the court that
although certain facts in the case were still in dispute,
Cadbury accepted its responsibility and was pleading guilty
to the charges.
"They have already spent £20m on improvements,"
the QC said. "We accept that this case should be
sent to the crown court for sentence." http://business.guardian.co.uk/story/0,,2103997,00.html |
|
16th June Financial Times WOOLF TO EARN £6,000
A DAY PROBING ETHICAL CONDUCT
Lord Woolf, the former lord chief justice, will be paid
up to £468,000 to head a committee to investigate
BAE Systems' ethical conduct and its compliance with
anti-corruption rules. The committee is to probe BAE's
current behaviour, but not any of the corruption allegations
made about the company's dealings in seven countries
in four continents.
At a press conference yesterday, Lord Woolf admitted
to initial concerns about his assignment but said he
had become convinced of its worth. "I believe it's
of importance to BAE and indeed the safety and prosperity
of this country that the company's ethical standards
are irreproachable," he said.
http://www.ft.com/cms/s/34cf93aa-1ba6-11dc-bc55-000b5df10621.html
For IBE's statement on Philippa Foster Back's appointment
to the committee see our website http://www.ibe.org.uk/IBEBAEStatement.pdf
|
16th June
Observer WOOLF'S BAE ETHICS PROBE 'IS A NONSENSE'
Anti-corruption campaigners are dismissing defence company
BAE Systems' appointment of Lord Woolf to head a committee
examining its ethical conduct as a 'nonsense' and 'fanciful'.
Lord Woolf, the former Lord Chief Justice, was last week
appointed to lead a four-strong committee billed by BAE
as an external, expert and independent body that would
carry out a thorough review of its policies and practices.
http://observer.guardian.co.uk/business/story/0,,2104553,00.html
|
17th June
Independent on Sunday BUSINESS SHOULD PLAY GREATER ROLE
IN SOLVING SOCIAL ILLS
"Tomorrow's Company" report Anglo-American,
BP and Standard Chartered are among signatories of a new
report issued today by Tomorrow's Company, a think-tank
that looks at the role of big business in society. In
signing the new report, the companies agree that businesses
'must play a greater role in contributing to solving the
problems that society faces, including environmental degradation,
poverty and the abuse of human rights' in order to survive
in the future. In a recent interview with The Independent
, Sir Mark Moody-Stuart of Anglo-American spoke about
the mining companies past mistakes, some of his hopes
for the future, and the reasons why he endorsed this report.
For him, the adoption of such principles will be of benefit
to Anglo-American: "Quite frankly, it can help us
gain access to areas and opportunities." http://news.independent.co.uk/people/profiles/article2664320.ece
|
18th
June Wall Street Journal COMPANIES PUNISHING BAD BEHAVIOUR
Chief executives are increasingly being held accountable
for bad behaviour that could embarrass their companies,
even if their behaviour was not illegal or directly related
to business. The increased scrutiny of executives' conduct
reflects heightened governance in general, and a greater
willingness on the part of employees to blow the whistle.
Employees who see executives behaving in ways that could
hurt their company's reputation are speaking out more,
helped by hot lines established after the accounting scandals
of previous years. http://online.wsj.com/article/SB118212112702038438.html?mod=us_business_biz_focus_hs |
18th June
Chartered Secretary ETHICS COMMITTEES 'ESSENTIAL', SAYS
IBE
A new report by Institute of Business Ethics (IBE), Business
Ethics Briefing: Business Ethics Committees, argues
that a dedicated committee not only raises board awareness
of ethical values and issues, but indicates to staff that
values and ethics are 'taken seriously at the top'.
The publication of the briefing follows high-profile criticism
of BAE Systems for alleged bribery offences, and the subsequent
establishment of an independent committee to monitor its
business practice. The committee is to be chaired by Lord
Woolf, and the IBE's Director, Philippa Foster-Back, has
also been asked to sit on the committee.
http://www.charteredsecretary.net/news.php?id=2233
|
18th June
Financial Times ELECTRICITY GENERATORS PROFITS INCREASE
FROM EMISSIONS TRADING
Industry estimates suggest that Britain's electricity
generators could make windfall profits of about £1.5bn
a year from the European Union's emissions trading scheme,
raising further questions about the operation of the programme
intended to combat global warming. The scheme raises the
price of electricity, while electricity generators receive
free permits. Environmental campaigners and industry experts
have argued that the generators should be forced to buy
their permits in auctions, while electricity companies
argue that increased expenses could put the UK's power
supply at risk. http://www.ft.com/cms/s/c231430e-1d38-11dc-9b58-000b5df10621.html
|
19th June
Independent SCIENTISTS SAY SCALE OF THREAT PUTS EARTH
IN 'IMMINENT PERIL'
Six scientists from some of the leading scientific institutions
in the United States have issued what amounts to an unambiguous
warning to the world: civilisation itself is threatened
by global warming. http://environment.independent.co.uk/climate_change/article2675747.ece |
19th June
Financial Times A NEW CLIMATE OF CHANGE (A SPECIAL ENERGY
REPORT)
The twin imperatives of climate change and security of
supply have focused attention on the energy industry as
never before; not even in the crisis of the 1970s. Awareness
of the threat created by man-made global warming is the
new factor that has transformed the terms of the debate.
As the scientific consensus on the reality of the danger
has hardened, many who were sceptical have been won over,
or at least brought to accept that the issue is serious.
http://search.ft.com/ftArticle?queryText=A+new+climate+of+change&aje=true&id=070619000906
|
19th June
Financial Times CONSUMPTION WITH A CONSCIENCE
The question of how advertisers should address increased
public awareness of global warming and its implications
for consumer behaviour is one of the themes of this year's
Cannes event hosted by Al Gore. It follows a recent rise
in the number of companies in the automotive, energy,
retail and travel sectors using environmental claims to
market their products and services. http://www.ft.com/cms/s/000ec2ae-1e02-11dc-89f7-000b5df10621.html |
|
continues below ..../
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19th June
Guardian BRITISH INVESTORS URGED TO QUIT SUDAN
The Aegis Trust, a group focused on combating genocide
around the world, have today launched a divestment campaign
aimed at British investors in the Sudanese oil industry.
According to Aegis, Sudan's government draws more than
60% of its revenue from oil royalties - money which funds
the Janjaweed militia who carry out atrocities in Darfur.
Among the list of firms and investors implicated by the
campaign is the Church of England and Barclays, the latter
of which has £380m invested in Sudan's oil sector.
Other companies like Petrofac are directly involved in
the oil industry as engineers. http://www.guardian.co.uk/sudan/story/0,,2106163,00.html |
19th June
Guardian CONSUMERS DISTRUST BUSINESS ON CLIMATE CHANGE
A report published this week by Accountability and Consumer
International will reveal that nine in 10 consumers are
sceptical about information relating to climate change
received from companies and governments. In contrast,
nearly 60% would rather put their faith in scientists
and environmental groups like Greenpeace and Friends of
the Earth. There is also very little trust in the media.
The report suggests that government, business and civil
society all need to work together to find solutions to
this credibility problem, so that the 70% of people wanting
to take action on climate change are given the support
they need by big business, the government and the media.
http://business.guardian.co.uk/story/0,,2106154,00.html |
20thJune
Independent A TASK FORCE TO HELP ETHNIC MINORITY BUSINESSES
IS LAUNCHED
The government launched a new ethnic minority business
task force yesterday, to support the growth of firms run
by black and Asian entrepreneurs. One of the key areas
being investigated by the task force will be the added
difficulties imposed on ethnic minorities trying to raise
finance. A recent survey by the Department of Trade and
Industry found that ethnic minorities:were charged higher
rates of interest; found it harder to be awarded loans;
and have a higher than national average gap between financial
amounts sought and amounts gained. A spokesman for the
Commission for Racial Equality said the body welcomed
the task force and hoped its work would help dismantle
barriers affecting ethnic minority-owned business. http://news.independent.co.uk/business/news/article2679875.ece
|
20th June
Guardian ALCOHOL INDUSTRY TACKLES SPEED DRINKING
The Portman Group, a drinks industry body, has issued
new regulations for the packaging and promotion of products
considered to encourage 'speed drinking'. Among other
drinks, spirit-based products known as 'shooters' or 'slammers'
are expected to come under increased restrictions from
January 2008. David Poley, CE of the Portman Group, said:
'We cannot alone change consumer behaviour. But the drinks
industry can play its part and take responsibility for
its own behaviour in terms of marketing and advertising.'
Although retailers will be instructed not to sell any
products that breach the new regulations, critics say
that the lack of statutory force behind them will render
the change ineffectual.
http://www.guardian.co.uk/uk_news/story/0,,2106784,00.html
|
20th JuneGuardian
CHINA BECOMES BIGGEST CO2 EMITTER BUT RICH NATIONS NEED
TO LEAD CARBON CHALLENGE
According to a new report released by the Netherlands
Environmental Assessment Agency, China has overtaken the
US by 8 percent to become the world's largest emitter
of carbon dioxide for the first time. The new report,
which is based on data from BP's Statistical Review of
World Energy, found that global carbon dioxide emissions
from fossil fuel use increased by about 2.6 percent during
2006. However, this is less than the 3.3 percent increase
in 2005. According to the report the 2.6 percent increase
is mainly linked to a 4.5 percent increase in global coal
consumption, of which China contributed more than two-thirds.
http://environment.guardian.co.uk/waste/story/0,,2107001,00.html
|
|
21st June World Changing CANON TOPS CLIMATE COUNT'S
LIST OF ECO-FRIENDLY COMPANIES
Climate Counts, a new not-for-profit initiative that
rates consumer brands on their environmental commitments
and performance, has issued its first ranking of companies.
Topping the list of 56 companies was Canon, the maker
of electronic consumer goods, followed by Nike and Unilever.
A wide range of fast moving consumer goods, electronics,
internet, software, and media companies were assessed
using a 100-point scale based on more than 20 criteria,
in categories ranging from pollution, to packaging,
to political lobbying. It is hoped that the regularly
updated list will make consumer products more transparent
and put more power in the hands of the consumer. http://www.worldchanging.com/archives/006916.html
A pocket-size PDF of the list can be downloaded here:
http://www.climatecounts.org/pdf/ClimateCountsPocketGuide0607.pdf
|
21st June
Financial Times BENEFITS OF GLOBALISATION MAY BE OVERSHADOWED
BY LOSSES
The editor of the FT comments on the issue of globalisation,
brought into public focus by the OECD employment survey
earlier this week, and asks the questions: Who loses from
globalisation, and what can be done to help them? If low-skilled,
low-paid workers in developed countries are losing out
from global markets, then what should our governments
do to stabilise discontent? And finally, does ignoring
this aspect of globalisation put its benefits at risk?
http://www.ft.com/cms/s/2b2958b6-1f63-11dc-ac86-000b5df10621.html
|
21st June
Financial Times MPS TO TARGET BUY OUT TAX
Jean Eaglesham and Martin Arnold report that the political
momentum for a clampdown on private equity chiefs gathered
pace yesterday as Tony Blair highlighted "real issues"
about the sector and MPs warned they are targeting the
industry's generous tax breaks. http://www.ft.com/cms/s/c52c8fa2-1f48-11dc-ac86-000b5df10621.html |
|
21st June Financial Times TAX CHIEFS OFFER SPECIAL
HELP TO BIG BUSINESS
Businesses will receive tax rulings in advance of large
deals under proposals designed to improve relations
between big companies and Revenue & Customs, writes
Vanessa Houlder. http://www.ft.com/cms/s/1d216cc2-1f63-11dc-ac86-000b5df10621.html
|
21st June
Guardian NEXT GENERATION BIOFUELS TO TURN HUMAN WASTE
INTO DIESEL
Britain could meet much of its future energy demand by
turning waste products such as wood, plastic bags and
even human sewage into transport fuels, scientists said
yesterday.
http://environment.guardian.co.uk/energy/story/0,,2107803,00.html |
22nd June
Independent TRADER LOSES £1.35M SEXUAL DISCRIMINATION
CLAIM
A City trader who claimed a sexist work culture forced
her to quit her job after she returned from maternity
leave lost her £1.35m compensation claim yesterday.
Katharina Tofeji, 38, alleged that the investment bank
BNP Paribas refused to grant her a four-day working week
after she had a baby. An employment tribunal in central
London dismissed her claims yesterday, ruling that she
was not wrongfully dismissed and was not treated less
favourably than her male colleagues.
http://news.independent.co.uk/uk/legal/article2692510.ece |
22nd June
Independent ROYAL MAIL WORKERS TO STRIKE NEXT WEEK OVER
PAY AND JOB CUTS
Cliff Feltham reports that postal workers will strike
on 29 June, halting the nation's delivery of mail for
the first time in 11 years. The workers voted overwhelmingly
for industrial action in protest against Royal Mail's
"below-inflation pay offer" and plans to reduce
its workforce by around 40,000.
http://news.independent.co.uk/business/news/article2692553.ece |
22nd June
Financial Times SWEEPING REFORMS IN CORPORATE TAXATION
PROPOSED
Sweeping reforms of thecorporate tax system which could
pave the way for billions of pounds of foreign profits
to be repatriated tax-free to the UK were proposed yesterday.
http://www.ft.com/cms/s/87d91c62-205e-11dc-9eb1-000b5df10621.html
|
22nd June
Guardian, BIG BUSINESS TO SPONSOR CHILDREN IN CARE
Young people leaving care are to be included in high flyers
programmes offered by big businesses as part of a package
of measures to boost their life-chances outlined today.
The HSBC bank has already promised places on its management
trainee scheme and will prepare candidates by giving them
jobs and helping them get the necessary qualifications
to get started on the employment ladder. http://society.guardian.co.uk/children/story/0,,2108439,00.html
|
22nd June
Guardian UNIONS URGE SCRUTINY OF PRIVATE EQUITY TAX BREAKS
Unions yesterday called on the Treasury to widen the scope
of its inquiry into private equity to include the tax
privileges of buyout bosses.
Union leaders said claims by private equity bosses that
they should retain their low tax rates because they undertook
huge risks when they invested in companies were deeply
flawed. They said the Treasury review announced this year
should include an examination of the tax rules and whether
partners involved in large buyouts should continue to
enjoy low tax rates designed to reward entrepreneurs.
http://business.guardian.co.uk/story/0,,2108804,00.html
|
22nd June
Independent THE DOWN SIDE TO THE $3000 CAR
Hyundai have produced a $3,000 car, specifically aimed
at the burgeoning middle class in India, amidst criticism
over whether a country with overcrowded roads and escalating
CO2 levels needs really needs more cars. India has an
extremely low car density - only seven cars for every
thousand people - yet car sales are growing at over 16%
a year. Last year in Delhi alone, 300,000 cars were registered,
and the market has so much potential that other companies
are looking to produce a 'people's car' too. Environmentalists
warn that pushing this form of transport in a country
where 300 million people live below the poverty line makes
no social sense. A spokesperson for the Centre for Science
and Environment in Delhi said that India should invest
in public transport that can benefit more of society -
and the environment. http://environment.independent.co.uk/climate_change/article2692472.ece |
22nd June
BBC BANKS TO NOT REPORT CARD FRAUD
New rules introduced in England and Wales will mean that
cases of card fraud in banks will be handled by the bank,
without going directly to the police. Critics have claimed
that this, along with a sharp fall in the number of police
fraud investigators over the last few years, will dramatically
decrease the number of fraud cases being investigated,
thereby effectively decriminalising the fraud. It is also
expected that banks will be unlikely to call in a police
investigation when they are at fault. A spokeswoman for
the Association for Payment Clearing Services defended
banking actions, saying that "Unfortunately, the
police don't have the resources to investigate all types
of card fraud". http://news.bbc.co.uk/1/hi/business/6224912.stm
|
22nd June
Times THE DIGITAL MOB V. OFCOM
Dan Sabbagh takes a look at the emergence of the 'digital
mob', and the light that this immediate opinion indicator
shines on the inadequacies of Ofcom, the independent regulator
of the UK communications industries. The web 2.0 phenomenon
- blogs, specialist websites, social networking and the
likes - are a prominent force in today's world. He argues
that opinions are formed, pressure is put on companies
and trends are prefigured in the blink of an eye. In contrast,
Ofcom's reports are slow and stunted, rendering the regulator
dangerously close to being totally out of touch. http://business.timesonline.co.uk/tol/business/industry_sectors/media/article1968893.ece |
22nd June
Business Week THE TROUBLE WITH BUSINESS ETHICS
Companies are increasingly emphasizing ethics, but a recent
case at Wal-Mart shows how problematic such policies can
be for employees. This article looks at the tensions which
arise when employees do what their employer urges them
to do and report anything which looks like misconduct.
http://www.businessweek.com/bwdaily/dnflash/content/jun2007/db20070622_221291.htm?chan=top+news_top+news+index_businessweek+exclusives
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23rd June
Independent UNITED UTILITIES FINED OVER TRADING BREACHES
Ofwat, has fined Britain's largest listed water company,
United Utilities, £8.5m after ruling that the company
repeatedly breached trading rules designed to ensure that
customers benefit from competition. It is the first time
the water regulator has issued a fine of this nature.
It ruled that United Utilities had failed "to establish
prices by market-testing" when signing deals with
eight of its associate companies. The regulator said it
wanted to send a "strong message" to water companies
that they must comply with licence conditions.
http://news.independent.co.uk/business/news/article2697969.ece
|
24th June
Sunday Telegraph JUST ONE KKR PARTNER PAYS TAX IN BRITAIN
On Wednesday, Dominic Murphy, the partner who led the
Boots buyout, was criticised by MPs investigating the
industry's tax breaks after disclosing that he is tax
domiciled in Ireland. But it has now emerged that the
practice of sheltering earnings overseas is even more
widespread than believed. A source close to the company
revealed that only one of KKR's eight top staff in London
is domiciled in the UK for tax purposes: the Labour peer
Lord Hollick. KKR declined to comment on the partners'
tax position.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/06/24/cnkkr124.xml
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24th June
Observer BRITISH 'FAILING INDIA'S LOWEST CASTE WORKERS'
Leading British companies are being accused of supporting
a system of apartheid in India by failing to ensure that
they treat members of the country's lowest caste equally.
The International Dalit Solidarity Network (IDSN), which
campaigns on behalf of the caste, pejoratively known as
'untouchables', says UK companies with operations in India
are not monitoring their staff and are refusing to sign
up to positive action to combat the problem.
http://observer.guardian.co.uk/business/story/0,,2109717,00.html
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24th June
Observer FIRMS SEE RED ON GREEN GROUP
Business leaders this weekend lambasted the government's
high-profile green body, the Carbon Trust, for failing
small companies. For example, one of the trust's main
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