corporate
European companies have been facing an increasingly difficult business environment, due to soaring inflation, as well as higher borrowing costs, as interest rates continue to remain uncomfortably high. As such, several companies across industries have had to halt or postpone projects, due to the cost of debt rapidly becoming unaffordable. This has also impacted capital investments and hiring. On the consumer side, increasing inflation has caused price rises across a variety of necessities and services. Surging interest rates have also bumped up the cost of mortgages, leaving consumers with les...
Euronews (English)
24 April marks an important day in the global fight for corporate accountability. That day in 2013 saw the Rana Plaza textile factory building collapse in Dhaka, Bangladesh, killing 1,134 workers. This catastrophe was the result of a system of corporate impunity that still exists to this day. A system in which multinational companies can organise and profit from the exploitation of workers in global value chains, without taking any responsibility for their safety and the violation of their rights. The Left demands justice for all victims of corporate crimes. This is why, five years ago, I prop...
Euronews (English)
Croatian retailers are displeased with a law that prohibits shopping on most Sundays, saying it is threatening small businesses and driving layoffs in a crucial sector of the economy. The Trade Law, which was passed last year, allows retailers to choose only 16 Sundays per year when they can open their stores. While unions seem to be satisfied with it, many entrepreneurs in wholesale and retail trade are not. The five large shopping centres in Zagreb say Sunday revenue tends to be higher, and that the non-working Sundays imposed this year could hurt them to the tune of €50 million euros. Owner...
Euronews (English)
New York (AFP) - Disney's leadership prevailed Wednesday in a high-profile and costly proxy contest against activist investors who had sought to shake up the company's board over concerns about successorship planning. The entertainment giant said its full slate of 12 company nominees had been reelected by a "substantial margin," turning back efforts by Trian Fund Management and Blackwells Capital. "I want to thank our shareholders for their trust and confidence in our Board and management," longtime Chief Executive Bob Iger said in a press release. "With the distracting proxy contest now behin...
AFP
New York (AFP) - Disney shareholders will deliver a verdict later Wednesday in the company's long-running struggle over leadership at one of the spring's most costly and closely-watched annual meetings. At issue is an effort by billionaire investor Nelson Peltz of Trian Capital, who has blasted the Disney board over botched leadership planning after the entertainment giant reinstated long-running chief Bob Iger as CEO and ousted Iger's successor. Peltz has nominated himself and former Disney chief financial officer Jay Rasulo to the board -- an outcome that the company has fought vigorously. I...
AFP
A law to defend human rights and the environment from corporate exploitation should never have been controversial in the first place. European multinational supply chains already have a hefty death toll attached. Fast fashion factories like Rana Plaza collapsing and killing over 1,000 garment workers inside. 270 people buried in the catastrophic dam collapse in Brumadinho. Children drinking oil in Nigeria due to Shell’s reckless pollution of the Delta. EU-sponsored "carbon bombs" with projected emissions that are 17 times higher than the EU’s own 2030 carbon budget limit. And still, some EU me...
Euronews (English)
This week, we are joined by Isabelle Schömann, Deputy Secretary General of the European Trade Union Confederation, Michiel Hoogeveen, Dutch MEP from the European Conservatives & Reformists, and Martin Porter, Chair of the Cambridge Institute for Sustainability Leadership in Europe. Panellists reacted to an EU law currently being finalised that would make companies responsible for human rights abuses in their supply chain. Critics fear it will add red tape, while NGOs and trade unions say it will stop profits being made from human suffering. Thousands of people across Europe recently signed a p...
Euronews (English)
In an era marked by unprecedented global challenges, the imperative of enacting robust legislation that prioritises human rights and environmental protection cannot be overstated. As the EU stands at a crossroads, facing the choice between a legislative framework that safeguards people and the planet and a path that continues on the route of business as usual, the impending EU decision on the Corporate Sustainability Due Diligence Directive (CSDDD) is a moment that will define Europe's future. CSDDD is a game-changing piece of legislation aimed at reshaping how businesses operate in Europe and...
Euronews (English)
In December, European policymakers from across the political spectrum agreed to help stop some of the world’s worst abuses — like child labour — through a game-changing law that businesses and climate activists alike could agree on. It would finally create a fair, equal set of rules for big companies, ensuring that they’re not tied to human rights abuses and environmental destruction. The law should have passed without drama last week, in what is usually a "rubber stamping" process between national governments in Brussels. But the vote was pulled at the last minute after the FDP and its leader...
Euronews (English)
New York (AFP) - ExxonMobil has spent more than two decades sparring with activists over climate change, turning back virtually every shareholder challenge at its annual meeting each spring. But late last month, the oil giant, which has shunned renewable energy investments embraced by some rivals, suffered a landmark defeat when upstart investment fund Engine No.1 successfully won election of three of its four board candidates, overcoming fierce campaigning from management. A newly-formed San Francisco-based investment group, Engine No.1 is a relative minnow in the world of finance, but now st...
AFP
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