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Continental European and British manufacturers are stepping up to supplement the depleted US infant formula market, but their efforts may be limited by too little supply and too much red tape. “In the short run, major export volumes from the EU [European Union] to the US in these products is not a very realistic expectation,” said Pekka Pesonen, secretary general of Copa-Cogeca, which represents EU farmers and agri-cooperatives.…

Despite the widespread warnings about the risk of fraud, victims are still often their own worst enemy, displaying significant gullibility, especially when they are rushed and under pressure, fraud experts have shown.

Indeed, while older people who are less technically literate are often more vulnerable to scams than younger tech-savvy consumers, it is victims’ circumstances that can make them particularly susceptible, noted UK-based bank fraud consultant Richard Emery.…

Political pressure is mounting on the European Union (EU) to work harder and spent more on fighting fraud, with a European Parliament (EP) motion stressing that investments into fighting fraud saves more money than is lost to fraud and corruption when controls are too weak.…

The Covid-19 pandemic may have been disruptive for the international textile sector, but in emerging regional outsourcing hubs such as north Africa, the potential offered by digital printing is so clear that investment into this modern finishing segment has continued.

Tunisia is a case in point.…

The first woman to chair the International Ethics Standards Board for Accountants (IESBA), Gabriela Figueiredo Dias, of Portugal, intends to boost trust in accountants and auditors worldwide, whose profession has been undermined by public scandals, some highlighting conflicts of interest.

Speaking to Accounting & Business, she said another goal of her three-year term of office, which began on January 1, (2022), would be to formalise IESBA ethical standards for environmental, social, and governance (ESG) reporting and help the sector deal with disruptive technologies, such as artificial intelligence (AI).…

A memorandum of understanding has been signed by the IFRS Foundation with Canadian investment agency Montréal International to obtain financial support from the governments of Canada and Québec to establish a base in Montréal for the International Sustainability Standards Board (ISSB).…

LOYALTY rewards fraud is on the rise. USD1.2 billion’s worth of stolen airline miles alone are being sold on the dark web, says USA–based fraud prevention expert Forter. Subverted loyalty accounts can be a major problem, given 21% of loyalty accounts have credit card details attached, it says.…

Irish accountants are actively helping clients understand the country’s Gender Pay Gap Information Act, in force from May 31 (1), requiring firms to publicly report gender pay gaps – and action to solve them – in their organisations.

Companies and advisors are concerned about the tight June-to-December timescale for reporting pay data, said Aoife Newton who leads KPMG’s gender pay gap (GPG) reporting services: “The timeline for reporting is very limited.…

Consumers in Europe need to be offered clear labelling so that they only buy halal meat, especially from animals not pre-stunned before slaughter, if they want to, animal rights organisations and halal groups have told Salaam Gateway.

“We think it would be helpful if all meat was labelled pre-stunned or not so people can make informed choices,” said Dr Nick Palmer, head of Compassion in World Farming UK, an animal welfare campaign and lobbying group: “It is undesirable for non-pre-stunned meat to be accidentally purchased by consumers who would prefer to avoid it.”…

THE CURRENT global energy crisis and its attendant price rises have had “a dramatic impact on the profitability of many companies” in the textile and clothing sector, and a European Union (EU)-wide cap on gas prices is essential, Dirk Vantyghem, director general of the European Apparel and Textile Confederation (Euratex), has told WTiN.…