Search Results for: Climate change

The international clothing and textile sector will have to take account of the first global sustainability reporting standards designed to become compulsory in many countries worldwide from January 1, 2024. These will be published by June, having been approved in February by the International Sustainability Standards Board (ISSB).…

Psychologists have called for more spending on research into what personality types may be more susceptible to fraud, given more than GBP4 billion (USD4.billion) was lost to fraudsters in 2022 in the UK, according to a Money.co.uk study. (1) In the USA, consumer fraud alone caused losses of USD8.8 billion in 2022, an increase of more than 30% on 2021, according to the Federal Trade Commission.…

Business email compromise (BEC) fraud is growing so fast worldwide, it is regarded by the USA’s Federal Bureau of Investigation (FBI) to be “a major threat to the global economy”. In a report written for the US congress last November (2022), the FBI said in the USA during 2021, the Internet Crime Complaint Center (IC3) received BEC-related complaints with claimed losses exceeding USD2.4 billion, and USD43 billion between July 2016 and December 2021 (1).…

Portugal’s milk production sector has been shrinking, with long-standing vulnerabilities worsened by Russia’s invasion of Ukraine, which has increased feed and energy costs. Even though contraction has been halted in the past six months by rising milk prices, the industry remains fragile and vulnerable to economic headwinds.…

THE EUROPEAN Union (EU) textile industry needs ambitious investment and a strong state aid subsidy plan to survive rising energy costs, enabling them to continue operating efficiently in global markets, European textile experts have told WTiN.

“Since last summer, the EU textiles sector has been faced with sky-high gas and energy prices and this puts further pressure on an already strained supply chain,” the European apparel and textile confederation (Euratex) senior policy officer for trade and industry Paolo Sandri noted.…

International automobile manufacturers, including those based in the USA, have been presented with the first global sustainability reporting standards designed to become compulsory in many countries worldwide from January 1, 2024. They may also apply to foreign companies operating in the USA and overseas branches of US-owned companies such as Ford and GM, depending on a looming decision made from the Securities & Exchange Commission, expected in April (2023).…

Luxembourg’s strength as a financial sector has brought the world’s only sovereign grand duchy great wealth (USD133,000 per head in 2021, said the World Bank), but it has also generated scrutiny on how it monitors investors, companies and bank depositors for AML exposure.…

As Pope Francis continues his moves to reform the financial controls of the Vatican City State and The Holy See (VCS/HS), including its AML/CFT systems, the uneven progress within this tiny state with a global reach to fighting corruption and money laundering is illustrated by an ongoing major financial crime trial.…

Myanmar’s clothing industry is struggling to continue effective operations as the military coup which toppled the country’s former democratic government two years ago has continued to harm the country’s economy, especially those sectors heavily dependent on international trade.

Resulting protests have mutated into civil war, with this instability and economic dislocation causing many western apparel companies to quietly withdraw from the country or reduce orders and sales.…