|
|
|
1st October Guardian BHP BILLITON
SHAREHOLDERS CALL FOR MORAL STAND ON LUCRATIVE TRADE
Activist shareholders at mining group BHP Billiton are
campaigning to stop the company from expanding its uranium
mining business at its forthcoming annual general meeting
(AGM) in November 2007. The activists, who form the
BHP Billiton Shareholders for Social Responsibilities
group, are led by retired engineer John Poppins, whose
family controls US$891,000 of shares in BHP. The company's
uranium business is reportedly growing fast, as a result
of increasing global demand for uranium as a nuclear
fuel. In addition, the business has entered into long
term supply contracts with the UK, France, Sweden, Finland,
Belgium, Japan, South Korea, Taiwan, Canada and the
US. The shareholders have highlighted "major strategic
tensions" between some of these countries, some
of which have the capability to manufacture nuclear
weapons. They hope to enlist the support of conservationists,
churches and unions to secure the 100 signatures that
they need to place the issue on the agenda of the AGM.
Poppins has also criticised the portrayal of uranium
as a carbon-free energy souce, citing the considerable
emissions that are associated with its mining, processing,
protection and disposal. http://business.guardian.co.uk/story/0,,2180673,00.html?gusrc=rss&feed=12
|
1st October
Financial Times ACTIVISTS GET NEW TOOL TO CHALLENGE DIRECTORS
Campaign groups and shareholder activists could be among
the first to use "derivative actions", a new
legal tool that comes into force today as part of the
2006 Companies Act and offers expanded scope for holding
company directors to account, writes Nikki Tait. http://www.ft.com/cms/s/0/ee35865a-6fa8-11dc-b66c-0000779fd2ac.html |
1st October
Independent BARS PROSPER AND STAFF ARE HEALTHIER
Jeremy Laurence reports that three months after the smoking
ban was introduced in England the first survey of the
legislation has revealed dramatic improvements in air
quality and a boost to trade showing that smoke-free premises
have been good for health - and business. http://news.independent.co.uk/health/article3015291.ece
|
1st October
Independent TOP BOSSES ON 100 TIMES AVERAGE EARNINGS
According to the latest figures from the accountancy firm
KPMG, the typical chief executive of a FTSE 100 company
has seen their total remuneration rise by 12 per cent
in the past year, to reach over £2.6m. That's four
times the rate of increase in average earnings, leaving
the business elite on pay over 100 times what most of
their employees earn.
http://news.independent.co.uk/business/news/article3015586.ece
|
1st October
Financial Times BURMA: SPOTLIGHT FALLS ON TOTAL AND CHEVRON
As Burma's ruling junta cracks down on protesters, killing
nine yesterday, calls to do more to put pressure on the
regime in terms of financial sanctions are growing, and
putting the spotlight on the role played by Total and
Chevron. They are partners in the Yadana natural gas project,
which last year produced almost half of Burma's gas, and
is said to deliver up to $400m a year in government revenues.
http://blogs.ft.com/energyfilter/
|
1st October
Guardian KETTLE CHIPS CALLS IN US UNION BUSTERS
A British private equity company has called in one of
the leading US union-busters to stop workers at one of
the UK's upmarket crisp producers, Kettle Chips, joining
a trade union. Burke Group has been engaged by Lion Capital,
owners of Kettle Foods, to dissuade the 340 workers at
their Norwich factory from joining Unite, the country's
largest union.
http://business.guardian.co.uk/privateequity/story/0,,2180623,00.html
|
1st October
Times INDIAN WORKERS ON THE END OF THE LINE REACH THE
END OF THEIR TETHER
After years of night shifts, junk food and abuse from
irate callers, the youthful generation that made India
the call-centre capital of the world are facing burnout.
Reports of heart attacks, depression, suicides and diabetes
among workers in their twenties have so alarmed ministers
that they are to draw up a health policy for the flagship
IT sector.
http://www.timesonline.co.uk/tol/news/world/asia/article2562940.ece |
1st October
Guardian NPOWER RANKS BOTTOM IN HELP FOR POOREST CUSTOMERS
Npower has been named as the power company doing least
to help its most vulnerable customers, according to new
figures on fuel poverty, which also found the company
has just 1,200 customers on its reduced "social tariff".
http://business.guardian.co.uk/story/0,,2180615,00.html#article_continue
|
2nd October
Greenbiz CAN CORPORATIONS HELP CHINESE NON-PROFITS OVERCOME
FUNDING BARRIERS?
The China Corporate Social Responsibility Forum recently
launched a series of talks in Beijing on CSR-related topics
in a bid to promote dialogue and partnership between companies
and civil society. The forum hopes that such partnerships
may help to address the current funding crisis faced by
Chinese NGO's as well as help to foster best practice
among companies on ethical and environmental issues. http://www.greenbiz.com/news/reviews_third.cfm?NewsID=359942nd
|
|
October Financial Times YO, KYOTO - BUSH SHIFTS HIS
STANCE ON GLOBAL WARMING
The Financial Times looks in detail at the phenomenon
that is the US u-turn on climate change. While critics
believe last week's series of high level speeches and
meetings on the subject was simply a vote winning strategy,
the US government maintains that nothing has changed
- it has always cared about climate change.
http://www.ft.com/cms/s/0/d54da5f4-7035-11dc-a6d1-0000779fd2ac.html
|
2nd October
CSR Wire MAJORITY OF RETAILERS TAKING SUSTAINABILITY TO
HEART, SURVEY FINDS
The results of a new survey show that two thirds of retailers
are actively undertaking environmentally friendly practices
and nearly half said they have increased their investments
in green practices over the last two years. Conducted
by BDO Seidman as part of their Retail Compass Survey,
the survey results were announced yesterday.
http://www.csrwire.com/News/9698.html |
2nd October
CSR Wire KLD LAUNCHES GLOBAL SUSTAINABILITY INDEX (GSI)
KLD Research & Analytics yesterday announced the launch
of its KLD Global Sustainability Index (GSI) and Index
Series. The GSI consists of a broad representation of
top environmental, social and governance (ESG) performing
companies across all sectors in North America, Europe
and Asia Pacific. KLD says the index was launched in response
to demand from investors for more sustainable investment
options. KLD claims the GSI is distinct from other SRI
indexes "in that it is simultaneously broad, sector-neutral
and based on rigorous sustainability standards".
http://www.csrwire.com/News/9793.html |
2nd October
Guardian BARRAGE OF TURBINES ACROSS THE SEVERN COULD PROVIDE
5% OF UK'S ELECTRICITY
John Vidal reports that tidal power generated from more
than 200 turbines in a 10-mile long barrage across the
Severn estuary could provide nearly 5% of Britain's electricity
for 120 years with minimal climate change emissions. This
should be investigated urgently, government advisers said
yesterday. The Sustainable Development Commission however
said that this would have mixed long-term economic and
ecological impacts. http://www.guardian.co.uk/environment/2007/oct/02/renewableenergy
|
2nd October
Ethisphere UNCLE SAM MANDATES BUSINESS ETHICS
Newly-revised, U.S. federal regulation, which would require
companies that hold contracts with the U.S. government
to establish and maintain ethics programs and training
for company employees, is expected to take effect later
this year. The Federal Acquisition Regulation (FAR) was
proposed in February 2007 and was followed by a comment
period, which ended in May. The aim of the regulation
is to streamline the policies already in place at the
Departments of Defense, Veterans Affairs, and the Environmental
Protection Agency which concern a contractor code of ethics
and business conduct. The proposal also adds that the
new rule should cooperate with the Department of Homeland
Security in regards to contracts funded with disaster
assistance funds. When adopted, the new rule will apply
to those companies who hold at least one contract with
the U.S. government over $5 million in value. The new
rule will require companies to: Adopt a written code of
ethics and business conduct; Establish an employee ethics
and compliance training program ; Implement an internal
control system; Display agency Office of Inspector General
hotline posters in common work areas and on any website
used to provide information to employees http://ethisphere.com/uncle-sam-mandates-business-ethics/
|
3rd October
Guardian INNOCENT FOUND GUILTY OVER SMOOTHIE HEALTH CLAIMS
Renowned smoothie manufacturer Innocent faces criticism
from the Advertising Standards Authority (ASA) over an
advert that describes one of its smoothies as a "natural
detox superfoods smoothie". The watchdog has ruled
that the advert is not based on concrete scientific findings
and as such is misleading to the public. A spokesperson
for Innocent has said that "we are not in the business
of making what are criticised as misleading adverts. If
they don't like it, we'll move on".
http://www.guardian.co.uk/uk_news/story/0,,2182326,00.html |
3rd October
Independent KATE MOSS MASCARA ADVERT WAS MISLEADING, ASA
RULES
Advertisements for Rimmel mascara in which Kate Moss's
eyelashes were digitally enhanced broke advertising industry
rules, watchdogs have concluded. Three months after a
L'Oréal mascara advert was criticised for featuring
the actress Penelope Cruz in false lashes, Rimmel's promotion
starring the Croydon-born model has similarly incurred
the wrath of the Advertising Standards Authority. The
agency behind Rimmel's television and magazine campaigns
denied that Moss wore false lashes during the shoot but
produced no evidence to prove it, the authority said.
J Walter Thompson, the advertising agency behind Rimmel's
campaign, told the authority that Moss's eyelashes were
"cleaned up and enhanced" in post-production
but did not explain the extent to which their appearance
had been changed. http://news.independent.co.uk/media/article3021321.ece
|
3rd October
Independent RECORD TEMPERATURES IN ARCTIC HEATWAVE
Record temperatures have been recorded in the Arctic this
summer in what is being described as an unprecedented
heatwave. One research station in the Canadian High Arctic
recorded temperatures above 20C - about 15C higher than
average. The high temperatures were accompanied by a dramatic
melting of Arctic sea ice in September to the lowest levels
ever recorded. Prominent scientists have expressed concern
over the findings calling the potential implications "disturbing".
http://environment.independent.co.uk/climate_change/article3021309.ece |
3rd October
Independent TESCO REJECTS COMPETITION CONCERNS AS PROFITS
KEEP SOARING
The chief executive of Tesco, Sir Terry Leahy, yesterday
shrugged off concerns about the Competition Commission's
investigation into competition in the UK grocery sector,
saying that he was "very confident" about the
outcome. Despite having a market share of 32 per cent
and with the Office of Fair Trading running a separate
inquiry into the price fixing of dairy products, Tesco
denies that there is a lack of competition in the sector.
http://news.independent.co.uk/business/news/article3021383.ece |
3rd October
Independent WATCHDOG TO CONSULT SKY AFTER RULING ITV STAKE
IS UNCOMPETITIVE
The Competition Commission is to consult Sky about its
stake in ITV after ruling that it had too much influence
over the smaller holding and that this influence is uncompetitive.
It is believed the Commission will present Sky with a
range of options including selling the entire stake, a
partial sale or a series of remedies to limit Sky's influence.
http://news.independent.co.uk/business/news/article3021382.ece |
3rd October
Financial Times WATCHDOG TO RULE ON BAA'S CHARGING RATE
The Competition Commission is set to publish a report
today on the proposed charging regime for BAA's three
London airports. The report is expected to support the
Civil Aviation Authority's proposals to drive down the
rate of return that BAA can earn, but it is expected to
be critical of the CAA's failure to implement some of
its recommendations made five years ago, including the
need to increase the transparency of the group's relationship
with its World Duty Free (WDF) retailing subsidiary. The
Commission is also conducting an investigation for the
Office of Fair Trading into the structure of BAA, which
could potentially lead to a break-up of BAA's monopoly
of the three main London airports.
http://www.ft.com/cms/s/0/2cf74790-713c-11dc-98fc-0000779fd2ac.html |
3rd October
Times WHERE WOMEN WANT TO WORK
Organisations which are listed in this year's Top 50 Places
Where Women Want to Work have had to prove themselves
in five key areas: the opportunities that they provide
women; having progressive, transparent cultures; an ability
to celebrate diversity; an eagerness to embrace new technology
to facilitate work-life balance; and a commitment to being
socially responsible. http://www.timesonline.co.uk/tol/life_and_style/career_and_jobs/top_50_women/article2568801.ece
|
3rd October
Independent CARD ISSUERS FIGHT OVERSEAS GUARANTEE
Credit card issuers will return to the House of Lords
for the second day running today to appeal against a ruling
that offers consumers who use their credit cards when
shopping abroad the same "money back" protection
they get when using their cards in the UK, if goods are
damaged or not delivered, writes Esther Shaw.
http://news.independent.co.uk/business/news/article3021383.ece |
3rd October
Guardian INTERVIEW WITH LORD MORRIS OF HANDSWORTH
In this interview Lord Bill Morris, Britain's first black
trade union boss, talks about housing, sustainablility
and social justice. http://society.guardian.co.uk/communities/story/0,,2182119,00.html
|
|
3rd
October Guardian BINGO CLUB CLOSURES TEAR APART SOCIAL
WEB
Bingo halls are part of the fabric of Britain, but new
research suggests that their accelerating demise are
both a cause and an effect of the breakdown of communities.
Nearly 4 million people in the UK, the majority of them
older women, play bingo at least once a week. But last
year 25 clubs out 464 in England closed due to financial
pressure. Clubs pay both a tax on profits and VAT, making
bingo the most highly taxed form of gambling. http://society.guardian.co.uk/societyguardian/story/0,,2181814,00.html
|
4th
October Independent FRENCH OIL FIRM ACCUSED OF COMPLICITY
WITH MILITARY REGIME
French oil giant Total faces a renewed inquiry into claims
that it was complicit in crimes against humanity committed
by the military regime in Burma. The five-year-old case
has been reopened by the federal prosecutor's office in
Belgium and will re-examine claims that the company used
forced labour to construct a gas pipeline in the 1990s
with a preliminary court hearing expected later this month.
http://news.independent.co.uk/world/asia/article3024746.ece |
4th
October Independent INSIDER DEALING SCANDAL THREATENS
AIRBUS
A political and financial scandal is threatening to engulf
the European Airbus company and the French government.
Twenty-one senior executives and two large corporate shareholders
were reported to have made "strange, massive and
simultaneous" sales of shares in the parent company
of Airbus, just before the plane-maker announced a calamitous
delay to its super-jumbo, the A380, last year. http://news.independent.co.uk/europe/article3024745.ece
|
4th October
Independent UNION SLAMS CADBURY'S SHIFT TO POLAND AS 700
JOBS ARE CUT
Manufacturing trade union Unite yesterday accused Cadbury
Schweppes of behaving like an "asset-stripping private
equity firm" following the company's announcement
that 700 jobs would be axed and outsourced to Poland.
The MP for Kenysham, the area which will suffer the most
job losses, has urged the company to spend heavily on
local community projects in the run-up to the closure
saying that "it's the least Cadbury can do".
http://news.independent.co.uk/business/news/article3024779.ece |
4th October
Guardian TRAPPED A MILE UNDERGROUND, 3,000 GOLDMINERS
FACE GRIM WAIT FOR RESCUE
Around 3,000 workers have been trapped more than a mile
underground at a South African gold mine owned by Harmony
Gold. The workers became trapped after extensive damage
to the main lift shaft yesterday morning, though the cause
of the damage remains in dispute. A spokesperson from
the National Union of Mineworkers claims workers at the
mine had previously complained that the shaft had "not
been maintained for ages". http://www.guardian.co.uk/southafrica/story/0,,2183189,00.html |
4th October
Financial Times KAZAKHSTAN FINES CHEVRON CONSORTIUM
The state of Kazakhstan yesterday imposed a fine of more
than half a billion dollars on an oil consortium led by
Chevron. The consortium, which includes Exxon and BP,
is accused of ecological violation at the Tengiz oilfield.
The move follows a previous fine imposed by the Kazakh
government on the Eni-led consortium developing the Kashagan
oilfield. Analysts believe the fines represent an attempt
to force international oil companies to give a greater
share of the oil revenues to the Kazakh government.
Chevron declined to comment, referring all questions to
the consortium, which is expected to appeal.
http://www.ft.com/cms/s/0/f2a86146-71db-11dc-8960-0000779fd2ac,stream=FTSynd,s01=1.html |
4th October
Guardian WORLD BANK ACCUSED OF RAZING CONGO FORESTS
A new report by the independent inspection panel at the
World Bank details how the organisation encouraged foreign
companies to destructively log the Congolese rainforest,
endangering the lives of thousands of Congolese Pygmies.
The report also accuses the bank of misleading Congo's
government about the value of its forests and of breaking
its own rules. http://www.guardian.co.uk/environment/2007/oct/04/congo.forests |
|
4th October Financial Times EU SCRAPS SHARE VOTING
REFORM
Plans to give all shareholders an equal say in the running
of companies were suddenly dropped yesterday by the
European Commission, writes Andrew Bounds. The European
Union's internal market commissioner, said he was abandoning
his two-year campaign - strongly championed by the UK
- to improve investors' rights because he could not
make an economic case for "one share, one vote"
reforms. http://www.ft.com/cms/s/0/cb0dbf4a-7213-11dc-8960-0000779fd2ac.html
|
4th October
Telegraph OLDER STAFF STILL FACE BIAS AT WORK
Wide differences have emerged about the way companies
are handling age discrimination legislation, introduced
a year ago to meet EU regulations ending restrictions
on the employment of older people. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/03/cnbage03.xml
|
4th October
International Herald & Tribune GERMAN PROSECUTORS
FINE SIEMENS €201 MILLION
On 4 October 2007, Siemens CEO Peter Loescher announced
plans to restructure the company into three divisions
- automation and infrastructure, health care and energy.
This replaces its current structure of 10 different business
units, which, with its regional and country sub-divisions,
had been regarded as inefficient and not cost-effective.
This change is reportedly aimed at streamlining Siemens'
operations following a series of corruption and accounting
scandals that led to the departure of former chairman
Heinrich von Pierer and former CEO Klaus Keinfeld. A court
in Munich has fined Siemens €201 million in connection
with an investigation into allegations that the company
had bribed clients in order to obtain contracts. Meanwhile,
also on 4 October 2007, the company reached a settlement
regarding tax arrears on previously undisclosed payments
of €450 million, which will require it to pay €179
million. In late September 2007, a Siemens internal investigation
had revealed €1.6 billion in suspicious payments.
http://www.iht.com/articles/2007/10/04/business/siemens.php?WT.mc_id=rssbusiness
|
4th October
Financial Times BUSINESSES URGED TO KEEP INTERVIEW STANDARDS
HIGH
A third of job applicants come away from interviews with
a bad impression of the business, having faced questions
unrelated to the job, poor interview preparation, sexism
and bad personal hygiene, an Ipsos Mori survey has found.
http://www.ft.com/cms/s/0/f83296f4-7212-11dc-8960-0000779fd2ac.html
|
5th October
Independent REGULATOR CRANKS UP PRESSURE ON SKY
The UK regulator, Ofcom, has warned Sky that the pay-TV
company's plans to launch subscription services on the
Freeview platform could harm consumer choice. The regulator's
decision to launch a 10-week consultation into Sky's plans
to launch its Picnic service on Freeview comes two days
after the Competition Commission's ruling that the company's
investment in a majority stake in ITV was anti-competitive.
http://news.independent.co.uk/business/news/article3028752.ece |
5th October
Independent TOYOTA'S GREEN CREDO UNDER FIRE IN THE US
Stephen Foley writes that Toyota is facing an attack on
its image as one of the greenest car manufacturers from
campaigners furious that it is opposing strict new fuel
economy regulations under discussion in the US. http://news.independent.co.uk/business/news/article3028754.ece
|
5th October
Guardian MCCOFFEES HELP FUEL ETHICAL TRADE BOOM
Sales worldwide of coffee, chocolate and bananas certified
by the Rainforest Alliance - the conservation organisation
that supports poor farmers in Latin America and Africa
- exceeded £500m for the first time last year. This
is mainly due to growing consumer demand for ethically
sourced coffee, which has fuelled the huge year-on-year
rise in sales with further growth predicted following
deals with restaurants such as McDonald's. Coffee growers
certified by the Rainforest Alliance use sustainable farming
techniques to source their beans. http://www.guardian.co.uk/ethicalbusiness/story/0,,2184008,00.html |
5th October
Guardian SAINSBURY'S TO LEAVE LAVISH HQ AND MOVE TO GREENER
PASTURE
Sainsbury's is to leave its head office in London's Holborn
to move to cheaper and more environmentally-friendly offices
in King's Cross. The supermarket stated that the new site
would cost less in rent and would also have carbon emissions
40% below industry benchmarks. The move will take place
in 2011 and a spokeswoman asserted that there will be
no job losses even though the prospective site is smaller.
http://business.guardian.co.uk/retail/story/0,,2184314,00.html |
5th October
Independent OLD-STYLE LIGHT BULBS FACE A DARK FUTURE AFTER
JOB CUTS
General Electric is taking the axe to its multi-billion
dollar lighting business, announcing plans to close factories
across America and laying off more than 1,400 staff, writes
Stephen Foley. Energy conscious consumers are being joined
by governments around the world, many of which are planning
to legislate the traditional bulb out of existence.
http://news.independent.co.uk/world/americas/article3029065.ece |
7th October
Sunday Times AIRBUS FLIES INTO 'INSIDER DEALING' ROW
The scandal engulfing the aircraft maker's parent company
encompasses business and politics Le Figaro, the French
newspaper, has published details of a preliminary report
from the market watchdog Autorité des marchés
financiers (AMF), sent to the Paris public prosecutor's
office. The report pointed to "parallel and massive"
selling of EADS shares months before the firm announced
delays on the A380 in June last year. The regulator's
year-long investigation showed that 1,200 people are suspected
of using inside information to sell more than 10m EADS
shares, pocketing almost €90m (£62.3m) in profit.
The AMF decided to concentrate its inquiry on 21 senior
managers, including former and present executives, some
of whom exercised stock options to divest their holdings.
http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article2602546.ece
|
7th October
Sunday Times SUPERMARKET 'BULLIES' FACE CRACKDOWN
Competition regulators are set to announce a crackdown
on bully-boy tactics from Britain's biggest supermarkets
in their relationships with suppliers. The Competition
Commission is expected to raise the prospect of a ban
on so-called retrospective payments to suppliers - a system
by which the latter end up giving the retailers discounts
for selling their items - when it unveils its preliminary
findings from a probe into the sector. In addition, the
commission is expected to raise serious concerns about
lump-sum payments demanded by supermarkets for the placement
of new products or access to their shelves for existing
products. The watchdog is also likely to call on supermarkets
to give suppliers greater certainty by offering them more
fixed contracts so they know how much they will be paid
and when. According to a survey released earlier this
year by Grant Thornton, the accountant, more than two-thirds
of suppliers said they had no written contract, with 23%
claiming supermarkets were unwilling to agree written
terms. Almost half had no pre-agreed order-cancellation
notice period in place. http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article2602501.ece
|
8th
October BBC News UK 'EXPORTING EMISSIONS' TO CHINA
A report by the New Economic Foundation (NEF) suggests
that the UK's increasing dependence on Chinese goods is
contributing to China's rising carbon emissions. The Interdependence
Day report also says that CO2 levels are needlessly raised
in the trade of very similar goods. The NEF believes that
international negotiations on climate change should move
towards a system where emissions are attributed to the
end user rather than the country producing the goods.
http://news.bbc.co.uk/1/hi/sci/tech/7028573.stm |
8th October
Financial Times CLIMATE CHANGE POSES STERN CHALLENGE
The Financial Times looks at the challenge the steel industry
faces in addressing its impact on climate change and responding
to recommendations in the UK commissioned Stern Review.
Accounting for 5-6 per cent of man-made CO2 emissions,
the steel industry is one of the giants among the direct
emitters of the manufacturing industry.
http://search.ft.com/ftArticle?queryText=climate+change&aje=true&id=071008000129&ct=0 |
8th October
The Times IS THE BOTTOM LINE HELPING THIS MOTHER AND CHILD?
The Times looks considers whether the Pampers campaign
to eradicate tetanus is just clever marketing or whether
its making a real difference to the mothers and children
in the Democratic Republic of Congo who it is hoped will
benefit. Funded by sales of Pampers nappies, the vaccination
campaign is part of parent company Procter & Gamble's
CSR partnership with Unicef, the United Nations' Children's
Fund. http://women.timesonline.co.uk/tol/life_and_style/women/body_and_soul/article2597021.ece |
8th October
Independent MAJOR AIRLINE REFUSES TO HELP WITH FORCIBLE
REMOVAL OF IMMIGRANTS
XL Airways has announced that it will no longer carry
failed asylum-seekers who were being forcibly removed
from the United Kingdom. The airline said it was opposed
to the policy because it had "sympathy for all dispossessed
people in the world". The move is expected to prompt
other airlines to make their own objections
public. http://news.independent.co.uk/uk/legal/article3038391.ece |
8th
October Guardian EUROPEAN COURT TO RULE ON UK DISABILITY
DISCRIMINATION BAN
A test case which could affect the employment rights of
thousands of people who care for disabled or elderly relatives
will go to the European court of justice tomorrow.
http://www.guardian.co.uk/law/story/0,,2185966,00.html |
9th October
Guardian CONSUMERS START ONLINE CAMPAIGN TO BOYCOTT KETTLE
CHIPS
An internet campaign to boycott Kettle Foods, owned by
a private equity firm Lion Capital, has been launched
following The Guardian's disclosure last week that the
crispmaker had been using US agencies to try and discourage
workers at its Norwich factory from joining a union. The
campaign is comprised of two groups on the popular social
networking site Facebook and has so far attracted 130
members. http://business.guardian.co.uk/story/0,,2186569,00.html |
9th October
BBC News UK FIRMS 'RAISE CO2 TRANSPARENCY'
The 2007 report from the Carbon Disclosure Project (CDP)
was launched today and details how more UK companies than
ever are being transparent about the size of their carbon
footprint. This year about 70% of the biggest 350 firms
agreed to report their direct greenhouse gas emissions
compared with 49% a year ago. In what CDP chief executive
Paul Dickinson has described as a 'significant milestone'
a number of companies including Tesco, Unilever and Cadbury
Schweppes are now working with CDP and their suppliers
to find a uniform way of measuring their emissions. http://news.bbc.co.uk/1/hi/business/7034134.stm |
9th October
Financial Times INFLEXIBLE CHILDCARE THREATENS JOB TARGET
A report published today by leading childcare charity
Daycare Trust complains that many private-sector nurseries
only cater for parents with an "eight-to-six"
work culture and do not properly take account of the highly
varied hours that parents work. The industry's alleged
inflexibility could jeopardise government attempts to
meet its exacting target of a 70 per cent employment rate
for lone parents. http://www.ft.com/cms/s/0/879c95aa-75f7-11dc-b7cb-0000779fd2ac.html |
9th October
Financial Times CARACAS 'ALLOWING GEM SMUGGLING'
A report published today by NGO's Global Witness and Partnership
Africa Canada claims that Venezuela is still allowing
"massive diamond smuggling" and should be expelled
from the UN-backed initiative to curb the illegal trade
in gems, the Kimberley Process. The report calls on the
European Commission, which is currently chairing the KP,
to take action and preserve the credibility of the scheme.
http://www.ft.com/cms/s/0/e9385f78-7602-11dc-b7cb-0000779fd2ac.html
|
|
9th October Director of Finance PROTECT YOUR COMPANY
FROM REPUTATION CRISES
With the news that only 26% of UK businesses have a
formal procedure in place to deal with reputation risk,
the IBE's Katherine Bradshaw looks at ways to enhance
company reputation by ensuring your business is done
ethically and helping protect against risks to its integrity.
http://dofonline.co.uk/management/protect-your-company-from-reputation-crises2348.html
|
10th October
Independent MODELLING AGENCIES BLAMED FOR RACIST CULTURE
Emily Dugan reports that modelling agencies have been
criticised for encouraging a culture of "blatant
racism" in the business and announced an emergency
summit with race campaigners and politicians to try to
tackle the issue. http://news.independent.co.uk/uk/politics/article3043733.ece |
|
10th October Guardian FOOD AND HEALTH FIRMS TAKEN TO
TASK
A group of scientists will today challenge some of the
claims made in the marketing of products ranging from
sandwiches and yoghurt to health spas and healing crystals,
writes James Randerson. In a report highlighting the
use of loosely worded scientific-sounding language,
they call for 11 companies to justify their selling
techniques.
http://www.guardian.co.uk/science/2007/oct/10/consumerpages.foodanddrink
|
11th October
Greenbiz GIANT UK COMPANIES WANT SUPPLY CHAIN EMISSIONS
DATA
The Carbon Disclosure Project (CDP) has announced that
several global companies have signed up to a new initiative
that aims to track their carbon footprint throughout their
supply chain. The Supply Chain Leadership Collaboration
is formed of companies such as Tesco, Unilever, Procter
& Gamble, Nestlé and Cadbury Schweppes.
http://www.greenbiz.com/news/news_third.cfm?NewsID=36059 |
11th October
Independent HEDGE FUNDS LOOK TO INCREASE TRANSPARENCY
The former deputy governor of the Bank of England, Sir
Andrew Large, yesterday called on hedge fund investors
to sign up to an industry-wide code of practice to counter
its image as an overly-secretive and high risk industry.
In a consultation paper published by the Hedge Fund Working
Group, Sir Andrew calls for an increase in transparency,
regulation and risk management in the £180bn industry
http://news.independent.co.uk/business/news/article3047660.ece |
11th October
Financial Times STARBUCKS RECALLS CHINESE MUGS AFTER SAFETY
FEARS
Starbucks has become the latest company to issue a voluntary
recall of Chinese-made products because of child safety
concerns. The Seattle-based coffee company is recalling
a quarter of a million plastic children's mugs sold at
its stores earlier this year after reports surfaced that
parts of the cups broke off easily revealing sharp and
dangerous edges.
http://www.ft.com/cms/s/0/b8a24a48-7794-11dc-9de8-0000779fd2ac.html?nclick_check=1 |
12TH October
Independent HAYWARD TO SLASH JOBS AND COSTS IN SHAKE-UP
AT BP
Tony Hayward, BP's new chief executive, has vowed to cut
jobs and slash bureaucracy at the oil giant in a radical
shake-up that will further tarnish the reputation of his
predecessor Lord Browne. Our problem is not about the
strategy itself but our execution of it," Mr Hayward
told staff. "BP's performance has materially lagged
our peer group in the last three years. It has been poor
because we are not consistent and our organisation is
too complex." http://news.independent.co.uk/business/news/article3052405.ece
|
11th October
Financial Times CORRUPTION POSES 'LETHAL THREAT' TO CHINA
A new report from the Carnegie Endowment for International
Peace details how corruption costs China as much as 3
per cent of its economic output, or $86bn in 2003, and
poses a "lethal threat" to the country's economic
development. The Washington-based policy study group says
that the sums of money expropriated by corrupt officials
have risen "exponentially" since the 1980s and
now cost more than last year's entire education budget.
http://www.ft.com/cms/s/0/21c92730-7795-11dc-9de8-0000779fd2ac.html |
12th October
Guardian THE UNHERALDED POLLUTER: CEMENT INDUSTRY COMES
CLEAN ON ITS IMPACT
Chief executives of the cement industry met in Brussels
this week to discuss climate change. Cement plants release
more than 5% of the world's carbon emissions and it is
unlikely that any company will be making carbon-neutral
cement in the near future. Dimitri Papalexopoulos, managing
director of Titan Cement, Athens, said: "No matter
what you do, cement production will always release carbon
dioxide. You can't change the chemistry, so we can't achieve
spectacular cuts in emissions."
http://www.guardian.co.uk/environment/2007/oct/12/climatechange |
12th October
FT SPECIAL REPORT: SUSTAINABLE BUSINESS
The Financial Times today publishes a special report into
sustainable business. It includes articles on climate
change, the weather, sustainable insurance and investment,
green transport, carbon labelling, packaging, supply chains
as well as sector specific issues such as water, chemicals
and food. The report also takes a look at lobbying and
pollution.
http://www.ft.com/reports/susbusiness2007 |
|
12th October Guardian CHIC WITHOUT THE SUFFERING: FASHION
DISPLAYS ITS ETHICAL FACE
The Ethical Fashion Show opened in Paris yesterday and
it is the world's largest event devoted to eco and Fairtrade
clothes. Running for the next four days, the event showcases
designs as luxurious and chic as one might hope for
in the birthplace of haute couture but with a twist
- everything is made with either environmental or social
concerns at heart.
http://www.guardian.co.uk/france/story/0,,2189358,00.html
|
13th October
Times TRADER SAYS HE WAS TOLD TO TAKE PILLS TO MAKE HIM
FEMININE
A trader is suing SAC Capital Advisers, alleging that
he was forced to take female hormone tablets in an attempt
to make him less aggressive. Andrew Tong, who worked for
a team with a relaxed trading style, has accused his former
boss of ordering him to take the tablets because his moneymaking
skills would be enhanced if he became more feminine. Mr
Tong, 37, claims the hormones, which he bought on the
black market, caused him physical and emotional distress
and led to him wearing women's clothes.
http://business.timesonline.co.uk/tol/business/law/article2648586.ece
|
14th October
Observer FEARS OVER SURGE IN CORPORATE ACTIVISM
Hedge funds are drawing fire from regulators, companies
and trade unions, though for differing reasons. The authorities
and listed companies are concerned that hedge funds can
force change without revealing the size of their holdings
- often held through derivatives. Unions complain that
the funds are motivated by short-term gain, fuelling demands
for break-ups that lead to wider economic dislocation
via the dismembering of companies involving swingeing
job cuts and far-reaching social repercussions.
The UK's Financial Services Authority has taken an interest
in the activities of hedge fund activists, which a German
politician once described as 'locusts', warning that investors
who buy shares in a company based solely on information
that activists might seek changes could be guilty of market
abuse. Last week, the Hedge Fund Working Group, headed
by Sir Andrew Large, a former deputy governor of the Bank
of England, called for rules to help companies identify
hedge funds and others holding significant stakes. He
is urging transparency, but on a voluntary basis. http://observer.guardian.co.uk/business/story/0,,2190450,00.html
|
14th October
Observer CHILDREN'S HOMES HIT BY BUYOUT FEARS
The collapse of a private equity-backed care home dealing
with sexually abused and autistic children has sparked
renewed concern at the advance of financial buyers into
British public services. Sedgmoor, owned by established
private equity firm ECI Partners, ran 45 homes for vulnerable
children. It went into administration two weeks ago.
After selling most of the care homes, administrator KPMG
spent several days urgently liaising with local authorities
to find places for dozens of children. Charities claimed
some had nowhere to go after the school day ended. Jack
Dromey, Unite deputy general secretary, said: 'It beggars
belief that the care of the vulnerable might now be put
at risk by the cost-cutting which is a characteristic
of private equity. Inevitably long-term care considerations
will give way to short-term profit-making.'
http://observer.guardian.co.uk/business/story/0,,2190431,00.html
|
14th October
Sunday Times WE'RE LOOKING FOR UNSUNG HEROES OF THE BOARDROOM
A DECADE AGO, a non-executive directorship was often a
cosy job, providing a bit of extra income for former company
bosses in retirement. No longer. Today, being a non-executive
is an increasingly onerous task. New corporate-governance
guidelines have been introduced, new legislation under
the Companies Act has ratcheted up the threat of legal
action, while belligerent activist shareholders are all
too ready to call non-executives to account. Today The
Sunday Times starts the search for Britain's top nonexecutive
directors. We want to find the often unsung heroes of
the boardroom who have guided companies through troubled
waters, takeovers and other strife.
To
nominate a non-executive click here
http://business.timesonline.co.uk/tol/business/movers_and_shakers/article2651574.ece
|
14th October
Sunday Times BOOKIES 'TRIED TO STIFLE TURF RIVALS'
BRITAIN'S biggest bookmakers are this weekend facing accusations
of anticompetitive behaviour in trying to stifle a new
horse-racing TV service. The allegations against Ladbrokes,
William Hill, Coral and Betfred, plus their media rights
broker, Bags, have been levelled by Turf TV, a new company
that beams television pictures from racecourses to betting
shops, and 30 of its affiliated tracks. The bookies' original
claim alleged that Turf TV's deal with its 31 courses
was anticompetitive. The counterclaim, lodged in the High
Court on Friday, said the deals with Arena and Northern
were anticompetitive. It also claims the bookies engaged
in "concerted practice" by threatening to withdraw
sponsorship from some tracks if they signed up with Turf
TV. http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article2651498.ece
|
15th October BBC News UK SUPERMARKETS 'MUST GO GREENER'
A new report from the National Consumer Council (NCC)
declares that while supermarkets are making an effort
to go green, they still need to do more. In a survey of
eight big food retailers the Green Grocers? report gives
Sainsbury's, Waitrose and M&S a B grade for their
environmental efforts, Tesco and Asda a C grade while
Morrisons, Somerfield and the Co-Op received D grades.
http://news.bbc.co.uk/1/hi/uk/7043914.stm |
15th October
Guardian DEVELOPING WORLD CRACKS GLASS CEILING
Marianne Barriaux reports that women in developing countries
find it easier to break through the so-called glass ceiling
than their colleagues in the west, according to a global
study by PricewaterhouseCoopers. http://business.guardian.co.uk/story/0,,2191130,00.html?gusrc=rss&feed=networkfront
|
15th October
Financial Times GREENQUEST OR GREENWASH?
The Financial Times looks at what businesses are doing
to green their business travel or eliminate the need for
it altogether. The article considers the actions of firms
such as Lloyds TSB and PwC as well as the results of opinion
surveys and index rankings. Greenpeace warns that "
far more radical measures need to be taken' than simply
encouraging the use of public transport and video conferencing
with firms needing to address issues throughout their
whole supply chain.
http://www.ft.com/cms/s/1/27027b0e-7883-11dc-aaf2-0000779fd2ac.html
|
16th October
HR Review BUSINESS LEADERS WARNED OVER WORKER HEALTH APATHY
Research commissioned by Business in the Community (BITC)
found that almost a third of workers (31 per cent) believe
their health is being neglected at work. Also, 62 per
cent of employees surveyed said they do not believe that
bosses view staff as assets worth investing in, while
46 per cent reported that apathy towards workers' wellbeing
is taking its toll on productivity. Among the complaints
made by staff were that they were discouraged from taking
sick days when unwell, prevented from taking a full lunch
hour, put under pressure to work overtime and were suffering
from depression, stress and panic attacks. In response
to the findings, BITC has launched a national campaign
calling for at least three quarters of all FTSE 100 firms
to be reporting publicly on the wellbeing of their staff
by 2011.
http://www.hrreview.co.uk/articles/hr_strategy_and_practice/business_leaders_warned_over_worker_health_apathy_372.html
|
16th October
Independent MATTEL SALES HIT BY 'TOXIC TOY' RECALLS
Mattel yesterday revealed the extent of the damage suffered
as a result of its summer of safety scares as it released
its quarterly earnings report. Mattel records a $40m charge
to cover the cost of recalling the 21 million affected
Chinese toys, but also and more worryingly a drop in sales
of unaffected toys. Mattel's new reputation as the "toxic
toymaker" has seen third-quarter profit fall to $236.8m
from $239.0m a year earlier. http://news.independent.co.uk/business/news/article3063879.ece
|
16th October
Financial Times COST OF FRAUD ON THE RISE, PWC SAYS
A new report from PwC claims that British businesses are
now suffering some of the highest fraud rates in the world,
with the cost to British companies having almost doubled.
Tony Parton, a PwC partner, said the research showed fraud
was a concern "not just ethically but to the bottom
line". The research comes amid a range of government
anti-fraud initiatives. http://www.ft.com/cms/s/0/0ebc3f64-7b83-11dc-8c53-0000779fd2ac.html
|
16th October
Guardian CORRUPTION IS RIFE IN BRITISH BUSINESS
According to a new PricewaterhouseCooper's report Britain
is becoming a hotspot for corruption and bribery and the
number of British companies affected by economic fraud
in the past two years is almost twice the global average,
reports Antionette Odoi. http://business.guardian.co.uk/story/0,,2191935,00.html
|
16th October
Guardian GLOBALISATION FEAR FOR SKILLED WORK
Government action will be needed to minimise the adverse
effects of globalisation as competitive pressures start
to affect high-skilled as well as low-skilled UK workers,
the Treasury Select Committee said today. http://business.guardian.co.uk/story/0,,2191946,00.html
|
17th October
Financial Times LLOYDS TO CONTEST MONEY LAUNDERING CHARGE
Lloyds TSB is planning to contest a civil money laundering
complaint brought this week against the bank by US prosecutors.
The complaint regards a confirmation letter sent by Lloyds
to auditors, confirming it was holding $10 million in
an account belonging to US listed software company AremisSoft.
US prosecutors allege that this claim was 'simply false',
and that Lloyds was helping fugitive and AremisSoft's
founder Lycourgos Kyprianou steal hundreds of millions
of dollars from the company's shareholders.
http://www.ft.com/cms/s/0/9ec4b5da-7c3e-11dc-be7e-0000779fd2ac.html?nclick_check=1 |
17th October
Financial Times CONGRESS SUMMONS YAHOO CHIEF OVER JAILING
OF CHINESE DISSIDENT
US lawmakers have accused Yahoo of giving false information
to Congress and have now asked that chief executive Jerry
Yang appear before a committee to explain the internet
search company's role in the imprisonment of a Chinese
dissident. Yahoo yesterday said that the committee's decision
to "single out" Yahoo and accuse it of misstatements
was "grossly unfair". http://www.ft.com/cms/s/0/c9eb778c-7c4b-11dc-be7e-0000779fd2ac.html |
17th October
Guardian HOW TOP LONDON LAW FIRMS HELP VULTURE FUNDS DEVOUR
THEIR PREY
Research by The Guardian and Legal Business magazine shows
that some top London law firms, who claim to support the
UN's millennium goals of reducing global poverty, are
making fortunes representing so-called 'vulture funds'.
These are firms that buy up sovereign debt issued by poor
countries at a fraction of its face value, then press
legal action against the countries to pay up the full
face value plus interest. Top London law firms allegedly
reaping the benefits from representing these vulture funds
include Allen & Overy, which represented vulture fund
Donegal International against Zambia and billed their
clients about £2m in fees - while the average Zambian
survives on less than $1 a day. Other law firms involved
in this practice include Weil Gotshal and Dechert. http://business.guardian.co.uk/story/0,,2192561,00.html |
17th October
Independent AMAZONIAN TRIBAL LEADER DELIVERS PLEA TO THE
CITY: STOP BUYING OUR LAND
The leader of an Amazonian tribe yesterday pleaded for
help in protecting the forest that has been his people's
home for generations and urged Britain to fight mining
interests. The tribesman and winner of the UN Global 500
award believes the threat posed to his homeland by industrialisation
is greater than ever and declares he will stop at nothing
to get his message across to Western consumers, green
campaigners and politicians. http://news.independent.co.uk/uk/this_britain/article3067240.ece
|
17th October
Daily Telegraph SWEARING 'IS GOOD FOR THE WORKPLACE'
Sophie Borland reports that a study from the University
of East Anglia shows that the use of expletives helps
employees let off steam and boosts morale.
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/10/17/nswear117.xml
|
|
17th October Guardian MIGRANTS ARE A BOON TO UK ECONOMY,
SAYS STUDY
Migrants are more skilled and often more reliable and
hardworking than British workers, and are fuelling the
country's economic growth to the tune of £6bn
a year, according to the first official study of their
impact published yesterday by the government's Migration
Impact Forum. http://www.guardian.co.uk/immigration/story/0,,2192777,00.html
continued below...
|
17th October
Guardian BANKS REFUSE REFUNDS FOR CARD CHARGES
Britain's banks have been capitalising on the confusion
over bank charges in a bid to avoid paying refunds to
the thousands of customers who were charged extortionate
credit card fees, writes James Daley. http://news.independent.co.uk/business/news/article3067278.ece |
17th October
Financial Times FOOD GROUPS SHAPE UP FOR ACTION
The food industry is battling to avert tighter regulation
as the government's crackdown on obesity focuses on its
activities, writes Jenny Wiggins. Although food groups
still maintain that people must take responsibility for
their own diets and health, they can help them do that.
http://www.ft.com/cms/s/0/c1e6a9d8-7c3e-11dc-be7e-0000779fd2ac.html?nclick_check=1
|
18th October
Independent GREENPEACE TEARS INTO RETAIL 'ECO-VILLAINS'
Boots and Somerfield, two of the biggest names on the
British high street, have been branded "eco-villains"
for failing to ensure that their tissue and lavatory paper
products are environmentally friendly. http://environment.independent.co.uk/green_living/article3070602.ece
|
18th October
Financial Times ASBESTOS VICTIMS LOSE RIGHT TO CLAIM DAMAGES
Thousands of workers exposed to asbestos due to their
employers' negligence yesterday lost the right to claim
compensation if they subsequently developed scars on the
lungs, writes Nikki Tait. http://www.ft.com/cms/s/0/48bb0a7e-7c9b-11dc-aee2-0000779fd2ac.html
|
19th October
Independent VICTIMS OF THE ETHANOL RUSH: LOSS OF THE NATIVE
PRAIRIE
The Independent looks at the 'ecological disaster' occurring
in central US states such as Kansas due to America's thirst
for alternative fuels and determination to become less
dependent on foreign oil. The so-called ethanol-fuelled
gold rush that has engulfed the Great Plains of Kansas
risks destroying fragile ecosystems as well as contributing
to the problem of global warming. http://environment.independent.co.uk/green_living/article3075697.ece |
19th October
Financial Times TOP JEWELLERS TOLD TO CUT TRADE LINKS
WITH BURMA
The TUC yesterday called on three of London's top jewellery
retailers - Asprey, Harrods and Leviev - to cut all trading
links with Burma following the new sanction announced
by the EU trade earlier this week. The call comes amid
increasing international pressure following the junta's
brutal suppression of protest marches last month.
The International Trade Union Confederation (ITUC) has
in total identified seven UK-based companies that should
be affected by the sanctions.
http://www.ft.com/cms/s/0/64bf9282-7dde-11dc-9f47-0000779fd2ac.html?nclick_check=1 |
19th October
BBC News FAST FOOD SALT LEVELS 'SHOCKING'
A survey by lobby group Consensus Action on Salt and Health
(CASH) has found that salt levels in some high street
meals are 'staggeringly high'. The survey found that one
meal from Pizza Hut contained four times the daily limit
of salt for a six-year old and more than twice the daily
limit for an adult. KFC, McDonald's and Burger King were
among the other chains that had meals analysed and they
all maintain they have reduced salt levels considerably
in their products in recent years. CASH has called for
the restaurants to carry nutrition information so people
can make informed choices. http://news.bbc.co.uk/1/hi/health/7050585.stm |
19th October
Guardian WINE ON THE WATER AS TESCO TURNS TO BARGES TO
CUT EMISSIONS
Tesco has begun using barges to transport wine claiming
that the move will take 50 lorries off the road every
week, cutting carbon emissions by 80%.
http://business.guardian.co.uk/retail/story/0,,2194567,00.html |
19th October
Financial Times BT WIND FARMS TO SUPPLY GREEN ENERGY
BT plans to develop a series of wind farms totaling 250MW
of wind power which will add about 12.5 per cent to the
UK's existing wind power generation. The biggest expansion
of renewable energy outside the power generation sector,
the farms would be built at BT sites and, when finished
in 2016, should meet about a quarter of BT's current electricity
needs.
http://www.ft.com/cms/s/0/17074248-7dce-11dc-9f47-0000779fd2ac.html
|
19th October
Independent HEINZ SOUP RANGE UNDER ATTACK FROM FARMERS'
MARKETS AND MPS
Heinz has come under fire from local food producers and
MP's over the launch of its range of 'Farmers' Market'soups.
Critics condemn Heinz for using the phrase, which they
describe as 'commercial exploitation'. http://news.independent.co.uk/uk/politics/article3075674.ece
|
19th October
Financial Times EMPLOYERS WANT RID OF PENSION LIABILITIES
A third of big companies that have closed their pension
schemes to new entrants are considering winding up the
scheme to get the liability off their balance sheets,
according to a survey by PwC. http://www.ft.com/cms/s/0/83bf3448-7dbc-11dc-9f47-0000779fd2ac.html?nclick_check=1
|
19th October
BBC News SHIPS' CO2 'TWICE THAT OF PLANES'
A report by Intertanko, a key maritime industry body,
has confirmed previous International Maritime Organisation
estimates that global emissions of CO2 from shipping are
twice that from aviation. Intertanko says that emissions
have risen sharply in the past six years due to the growth
in global trade coupled with the demand for quicker delivery
times.
http://news.bbc.co.uk/1/hi/sci/tech/7052037.stm |
20th October
Times ITV EXECUTIVES' BONUSES WERE LINKED TO PROFIT FROM
PHONE-INS
ITV's top executive bonuses were linked to the rapid growth
of the controversial phone-ins, which in the peak year
of 2006 contributed one pound in every six of operating
profit made by the commercial broadcaster. The disclosure
comes as the Serious Fraud Office (SFO) confirmed that
it was reviewing evidence into the £34 million competition
scandal at GMTV, to see if police should open a formal
inquiry. One of ITV's dozen top executives received an
element of their bonus based explicitly on phone-in revenue,
but all payouts for senior personnel depended on hitting
profit targets - in which cash from ITV and GMTV phone-ins
contributed an estimated £44 million of income.
http://business.timesonline.co.uk/tol/business/industry_sectors/media/article2698045.ece
|
21st October
Observer BANKS KEEP DEFRAUDED CUSTOMERS IN THE RED
Consumers and small firms are suffering weeks of delays
- and being left critically short of cash - before being
reimbursed, reports Lisa Bachelor. Banks are dragging
their heels when it comes to refunding customers who have
had money taken from their account fraudulently - leaving
some customers without access to cash for weeks on end.
Statistics from the Financial Ombudsman Service (FOS),
which deals with complaints when a dispute cannot be resolved
between a customer and a financial institution, show that
problems with disputed card transactions are on the up.
The ombudsman is now tackling about 20 to 30 a week, with
complaints about alleged debit card fraud having 'risen
significantly' according to the FOS. http://observer.guardian.co.uk/cash/story/0,,2195860,00.html
|
21st October
Observer SHOULD PROFIT COME BEFORE CHILDREN?
Sedgemoor's demise has fuelled fears about firms looking
after vulnerable youngsters. Zoe Wood looks at how one
of the UK's largest residential care businesses looking
after vulnerable children, and its financial difficulties
caused more heartache than just fears about redundancies.
The group's demise has renewed concerns among charities
and industry professionals about whether the profit-maximising
ethos of buyout firms, who tend to operate on three- to
five-year investment horizons, is compatible with the
long-term care of the most vulnerable members of society.
http://observer.guardian.co.uk/business/story/0,,2195719,00.html
|
21st October
Observer LSE STUDENTS BLAST CITY FIRMS OVER CLEANERS'
PAY
Students at the London School of Economics are living
up to their lefty reputation by putting pressure on City
banks that fail to pay their cleaners a living wage.
After winning a pay rise for the cleaners who keep their
own corridors spick and span, are now scrutinising the
behaviour of the firms vying to recruit LSE graduates.
Last Wednesday, about 30 students and went along to a
recruitment fair at the Canary Wharf headquarters of giant
US bank Citigroup - to try to persuade their fellow job-hunters
not to work there. They are targeting Citigroup because
it is not paying its cleaners the current London living
wage - calculated at £7.20 an hour by the Mayor's
office.
http://observer.guardian.co.uk/business/story/0,,2195703,00.html
|
22nd
October Independent JEWELLERS ARE URGED TO STOP SELLING
RUBIES MINED IN BURMA
Rubies could disappear from sale in Britain as part of
the international crack down on the Burmese junta. According
to campaigners,95 per cent of all rubies that eventually
make their way on to the counters of some of the world's
most prestigious jewellers, where they sell for up to
£500,000, are mined in Burma. It is claimed that
the trade, most of which takes place through third-party
countries, has helped line the pockets of the junta's
political elite and preserve it in power. But as international
condemnation over the treatment of Buddhist monks and
other demonstrators who took part in the recent anti-government
uprising in which 10 people died, EU ministers and the
US have moved to close the loophole.
http://news.independent.co.uk/world/asia/article3084317.ece |
22nd October
Tyndall Center WHO OWNS CHINA'S CARBON EMISSIONS?
According to a new study by the UK government-backed Tyndall
Centre for Climate Change Research, up to a quarter of
China's carbon emissions are produced in the manufacturing
of goods for export to industrialised countries. Data
from 2004 reportedly showed that 23 percent of emissions
were attributable to exports. In absolute terms, the 1490
million tonnes of CO2 emissions linked to exports were
similar to Japan's total emissions for that year and double
the UK's. The report continues by suggesting that this
means that the current state-centred approach to addressing
climate change may miss the point and that demand for
imported goods means that a country's carbon footprint
is now global. As a result, researchers suggested that
the current method of assessing national emissions is
unfair for some developing countries. It is particularly
so in China, where international trade and demand for
goods produced in China have led to an increase in carbon
emissions in that country. http://tyndall.webapp1.uea.ac.uk/publications/briefing_notes/bn23.pdf |
22nd October
Financial Times DUTCH FUND ISSUES ETHICAL MANDATE
Dutch pension fund PGGM has issued what is believed to
be the first large emerging markets equity mandate that
explicitly places environmental, social and corporate
governance factors at the heart of the investment process.
Consultancy firm Mercer has been engaged to find portfolio
managers willing to use sustainable investment tools in
emerging markets. http://www.ft.com/cms/s/0/6a0a8a24-8038-11dc-b075-0000779fd2ac.html
|
22nd October
International Herald & Tribune U.S. COURT REINSTATES
SOME CLAIMS BY SOUTH AFRICAN APARTHEID VICTIMS
The 2nd US Circuit Court of Appeals has reinstated class
action claims that a district court previously dismissed,
of plaintiffs who accused around 50 companies of supporting
apartheid in South Africa. The claims, which are being
made under the 1789 Alien Tort Claims Act (ATCA), are
collectively worth US$400 billion. The appeals court said
that companies may be responsible for "aiding and
abetting" a government's violations of international
law and that the matter should be reconsidered by the
lower court that originally rejected the claims. Around
50 companies could potentially be affected by the decision,
including Citigroup, IBM, JPMorgan Chase & Co., General
Motors, Exxon Mobil, Credit Suisse, Barclays, BP, Hewlett-Packard,
Coca-Cola, Ford, Deutsche Bank and Shell.
http://www.iht.com/articles/ap/2007/10/12/america/NA-GEN-US-Apartheid.php
|
22nd October
Guardian PLEA TO RETAIN ORGANIC LABEL ON AIR FREIGHT FOOD
The government is today expected to urge the Soil Association
not to strip air-freighted organic fruit and vegetables
of their organic certification on environmental grounds,
arguing that such a move would be "disastrous"
for exporting communities in developing countries. While
the government believe the labelling system should stay
as it is, critics see a contradiction between air-freighting
organic food and key organic principles. http://www.guardian.co.uk/environment/2007/oct/22/organic |
22nd October
Greenbiz STUDY FINDS GREENER COMPANIES OUTPERFORM RIVALS
A major new study by investment research firm Innovest
has found that companies with comprehensive climate change
strategies have financially outperformed their competitors
over the last three years. The Carbon Beta and Equity
Performance study of 1,500 companies found that there
is a "strong, positive, and growing correlation between
industrial companies' sustainability in general, and climate
change in particular, and their competitiveness and financial
performance". http://www.greenbiz.com/news/news_third.cfm?NewsID=36133 |
22nd October
Independent MPS EXTEND INQUIRY INTO CREDIT CRISIS
The Treasury Select Committee is set to call investment
banks, ratings agencies and accountants for a new series
of grillings after widening the terms of reference of
its inquiry into the credit crunch, reports Sean Farrell.
http://news.independent.co.uk/business/news/article3084323.ece
|
23rd October
Independent EURONEXT TO OPEN CARBON TRADING MARKET AS
SALES HIT €25BN A YEAR
NYSE Euronext has announced it will launch an international
carbon trading market next year in order to position itself
for an expected increase in emission credits trading.
Little detail has been revealed about the exchange so
far with more information expected in December at the
United Nation's climate change conference in Bali.
http://news.independent.co.uk/business/news/article3087289.ece
|
23rd October
BBC News SUPERMARKETS 'PACKAGING TOO MUCH'
A new study by the Local Government Association warns
that B |
