Banks failing to carry out anti-bribery measures, says FSA
The City watchdog has warned that many banks are failing to provide proper controls to prevent bribery and corruption despite the high profile introduction of the Bribery Act last year. The Financial Services Authority said almost half of the 15 banks it visited for spot inspections failed to provide an “adequate anti-bribery and corruption risk assessment”. It said it was considering referring some for further investigation and possible fines.
Apple sought to stem long-running criticism of its failure to ensure adequate conditions for Chinese workers making its iPhone and iPad as it threw its weight behind an independent report that detailed multiple abuses of labour codes. Hours after Tim Cook, Apple chief executive, toured a Chinese production line of Foxconn, a main supplier, the Fair Labor Association said that the contract manufacturer had agreed to improve working hours, pay, union representation and health and safety conditions for its 1.2 million workers. Conditions in Chinese factories have become a major issue for Apple in recent months.
Tax relief cap could cost the sector hundreds of millions, says Charities Aid Foundation
Nearly 40% of major philanthropists will give less in the wake of the UK government’s decision to cap tax reliefs for charitable donations, according to research by the Charities Aids Foundation (CAF). A CAF spokesman said that if this trend was replicated across all major givers, it would amount to lost giving of many hundreds of millions of pounds a year. From April next year, any donor giving more than £50,000 a year including Gift Aid, or a quarter of their income, whichever is higher, will not be able to reclaim all the tax they have paid on their donations.
CO2 emissions at lowest level in 40 years thanks to nuclear power, but nuclear giants RWE and E.ON drop plans to build new UK reactors
UK emissions of carbon dioxide have plunged to their lowest levels since records began more than 40 years ago, according to the energy and climate change department. One of the biggest reasons for the fall to just 456 million tonnes last year was greater use of nuclear power, according to the data – released on the same day two German utilities companies, RWE and E.ON, announced they were dropping plans to build reactors in the UK. The government’s nuclear energy policy is now in disarray, prompting warnings of serious knock-on effects for jobs and economic growth. Nuclear power is a cornerstone of the government’s low-carbon agenda.
Food service sector braced for waste prevention drive
Caterers and food service operators will be expected to commit to reducing food and packaging waste under a new producer responsibility deal this May. The UK government has confirmed its intention to launch the voluntary code of practice for the hospitality and food service sector, aimed at preventing waste and boosting recovery levels through anaerobic digestion or composting.
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