Panasonic, DirecTV, Microsoft, Sony, Xerox form new recycling coalition
DirecTV, Microsoft, Panasonic, Sony and Xerox are among the founding partners of the new R2 Responsible Recycling Leader Program, which encourages companies to responsibly reuse and recycle electronics. Participating companies and organisations commit to support R2-certified electronics refurbishment and recycling and to consider R2 certification when choosing a recycling partner. Electronics recycling reached an all-time high in the US last year with a record 620 million pounds of electronics recycled. The R2 electronics recycling standard and certification process was launched by Sustainable Electronics Recycling International (SERI) in 2008. “Working in tandem with these leaders who share our vision will significantly accelerate progress in developing responsible e-waste reuse and recycling policies, programs and facilities,” said John Lingelbach, Executive Director of SERI. (Sustainable Brands)
Governance
Fraud, bribery, corruption remain key challenges for India
According to E&Y’s global fraud survey, fraud, bribery and corruption remain key challenges for Indian companies, with 71 percent of senior executives considering corruption as a significant concern for corporates. The survey revealed that unethical behaviour still persists, with a majority of respondents justifying unfair actions undertaken to survive the economic downturn. The survey was conducted among over 50 CEOs and senior executives in the country across functions. Only 50 percent of respondents said that there are clear penalties for breaking anti-corruption policies and only 29 percent have attended an anti-corruption training programme. “Over the last few years, corporate India has seen compliance levels stall as management has focused on dealing with economic uncertainties and changes in the Indian regulatory landscape,” said E&Y India Leader for fraud investigation and dispute services Arpinder Singh. (Business Standard)
International Development
World Bank lowers growth projections for developing countries
In a recent report, the World Bank has trimmed its global growth forecast to 2.8% for the year, from 3.2% forecast in January. Growth is weaker than it has been for developing counties, which are headed for a third consecutive year of growth below 5% as the World Bank revised the forecast for the developing world from 5.3% to 4.8%. “We’re coming to a period where growth is going to be more difficult to achieve than in the past anywhere, including emerging markets,” said World Bank economist and the report’s lead author, Andrew Burns. However, the World Bank added that it expects developing countries’ economies growth to continue improving into 2015. Kaushik Basu, senior vice-president and chief economist at the World Bank, added, “With the exception of China and Russia, stock markets have done well in emerging economies, notably India and Indonesia. But we are not totally out of the woods yet.” (Blue and Green Tomorrow)
Pricing
Amazon halts Warner Bros pre-orders in pricing row
Online retailer Amazon has halted pre-orders of some Warner Bros films in the US, including The Lego Movie, in a pricing dispute. A similar dispute with publisher Hachette has been ongoing since May, with pre-order buttons removed for a number of book titles, including JK Rowling’s new detective novel, The Silkworm. In a statement, Amazon Books said: “When we negotiate with suppliers, we are doing so on behalf of customers.” It encouraged users to shop elsewhere while the row was ongoing. Authors criticising the company include James Patterson: “Amazon wants to control book buying, book selling and even book publishing,” he said in a speech to independent booksellers. Amazon has a history of disputes with publishers and four years ago removed titles from publisher Macmillan during contract talks. Experts estimate that Amazon controls about a 50% share of the book market, both electronic and physical, in the US. (BBC)
European Court Upholds €1.06 billion fine against Intel
A top European court has upheld a record fine of €1.06 billion imposed five years ago on Intel by Europe’s top antitrust authority. The European Commission levied the fine in 2009 after it accused the American company of abusing its dominance in the computer processor market by offering rebates to computer makers who used its chips more than other brands. It was the highest single antitrust penalty that the authorities in Brussels have levied on a single company. Intel has repeatedly said it had done nothing wrong and that its rebates and discounts were legal and a commonly used way of rewarding companies for purchasing its products in large quantities. The decision to impose severe punishment on Intel was another reminder of how European regulators have emerged as some of the world’s staunchest enforcers of antitrust laws, and it was an early signal that global authorities were gearing up to raise the stakes for the biggest technology companies. (NYTimes)
Image source: Good Business by Steve Jurvetson /CC BY 2.0
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