Industry News Roundup February 2012

February 05, 2012

Technology

Apple Lists Its Suppliers for first time

An audit released by Apple revealed widespread violations of worker rights and environmental practices by manufacturing partners. Apple found that 62% of the 229 facilities it inspected were not in compliance with the company’s maximum 60-hour work policy; 13% did not have adequate protections for juvenile workers; and 32% had problems with the management of hazardous waste.

The Washington Post
http://www.washingtonpost.com/business/technology/apple-report-reveals-labor-environmental-violations/2012/01/13/gIQAauFGxP_story.html

Pharmaceuticals

Global drugs groups may unite to destroy tropical diseases

GlaxoSmithKline and AstraZeneca are among the key players in a coalition of 13 global drugs companies brought together by the Bill & Melinda Gates Foundation to eradicate neglected diseases. In an initiative dubbed the ‘London declaration’, pharmaceuticals chiefs promised to eradicate diseases such as leprosy, sleeping sickness and guinea worm, by the end of the decade, helping hundreds of millions of patients in the developing world.

The Times*
http://www.thetimes.co.uk/tto/business/industries/health/article3303679.ece

*Please note a subscription is required to view this article.

Banking / Finance

Bankers arrested in tax probe

Several British bankers have been arrested as part of an investigation into alleged tax-related criminal offences, the country’s customs and revenue service said on February 12, including some from Royal Bank of Scotland (RBS). The arrests come as Britain’s top banks are under attack from politicians over paying large salaries and bonuses while the rest of the country suffers in the UK’s faltering economy, and for not lending enough to businesses.

Reuters
http://uk.reuters.com/article/2012/02/12/uk-british-banks-probe-idUKTRE81B09K20120212

State Bank of India to expand microfinance portfolio by 50% in Q4

State Bank of India (SBI) plans to grow its microfinance portfolio by 50% in the fourth quarter of fiscal year 2011, which runs through March 31 of this year, drawing comfort from the Reserve Bank of India’s move to frame guidelines for microfinance institutions (MFIs). SBI’s move is expected to lift lender sentiment and offer a psychological boost to MFIs. The country’s largest lender aims to increase its sectoral exposure to 1,300-1,400 crore by March this year from 900 crore in December.

Economic Times
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/-sbi-to-expand-microfinance-portfolio-by-50-in-q4/articleshow/11503116.cms

Food & Beverages

Hershey expands responsible cocoa community programmes in West Africa

Over the next five years, Hershey, the largest chocolate manufacturer in North America, will expand and accelerate programmes to improve cocoa communities by investing $10 million in West Africa and continuing to work with experts in agriculture, community development and government to achieve progress with cocoa farmers and their families. By 2017, Hershey’s public and private partnerships (PPPs) will directly benefit 750,000 African cocoa farmers and over two million people in cocoa communities across the region.

MarketWatch
http://www.marketwatch.com/story/hershey-expands-responsible-cocoa-community-programs-in-west-africa-2012-01-30

Coca-Cola on track to become ‘water neutral’ by 2020

Drinks giant Coca-Cola has unveiled how it will continue to hit “stringent” targets to reduce water usage in its first digital Global Reporting Initiative (GRI). As part of the Reasons to Believe sustainability report, which follows GRI sustainability reporting guidelines, ‘water stewardship’ is one of four key areas focused on by Coca-Cola. The company has also projected a 20% improvement in water efficiency by the end of 2012, which it says supports a long-term goal of becoming ‘water neutral’ by 2020.

Edie
http://www.edie.net/news/news_story.asp?id=21795&src=tw

COMMENTS