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SEQUENCING OF COCOA GENOME COULD IMPROVE RELIABILITY AND QUALITY OF THIS KEY INGREDIENT
BY MARK ROWE
THE CHOCOLATE giant Mars has begun work on sequencing the cocoa genome, a move that it says could dramatically improve the health and yields of cocoa growers around the world, guaranteeing food manufacturers with more reliable and high quality supplies.…
OBAMA FAVOURS BALANCE; MCCAIN DEREGULATION - THE BIG US IFRS/FAIR VALUE DEBATE
BY ROEL CAMPOS
ONE can expect that the next United States administration, whether McCain or Obama, will address as a high priority the overall US financial regulatory structure. Two specific issues that will require immediate attention are fair value accounting and whether to adopt International Financial Reporting Standards (IFRS).…
FAIR VALUE, IFRS, AND LITIGATION CAPS HANG IN THE BALANCE AS A NEW ADMINISTRATION LOOMS FOR AMERICA
BY JOSEPH GOLDSTEIN
THE ACCOUNTANCY profession in the United States might think its day of reckoning came and went in 2002. But those who thought that the Sarbanes Oxley Act was the final word in regulation for the accounting profession may be in for a rude surprise.…
DRINKS PRODUCTION AND MARKETING RULES SEEK TO BALANCE PROTECTING EXCELLENCE WITH LIBERATING COMMERCE
BY ALAN OSBORN
INTRODUCTION
About 10 years ago the American distiller JB Wagoner decided to market a fiery liquor made from the cactus-like agave plants growing in the hills on his estate at Temecula in California. He called it "temequila." It soon became known as "the American tequila," proving indistinguishable in taste, texture and effect from the well-known Mexican drink.…
PAINT COMPANIES DEVELOP THOUSANDS OF COLOUR VARIANTS TO MATCH DIVERSE WORLDWIDE TASTES
BY MARK ROWE
THE PSYCHOLOGY of colour has fascinated philosophers and scientists down the ages, so it is perhaps unsurprising that the world’s paint companies devote much of their time to working out why consumers prefer certain colours for certain everyday items – and why these tastes vary so much across the world.…
US OIL REFINERY INDUSTRY LEARNS TO DEAL WITH HURRICANES, AND IS STAYING PUT FOR NOW
BY LUCY JONES
ALMOST 20% of the United States’ oil refining capacity was shut after Hurricane Ike slammed into the Gulf Coast in September.
The effects were felt immediately. In Texas, petrol prices spiked around
US$5 a gallon and that is assuming you could find any fuel.…
EMPLOYEES OF THE BIG FOUR PREFER OBAMA TO MCCAIN
BY JOSEPH GOLDSTEIN
EMPLOYEES of the big four accountancy firms are almost twice as likely to donate money to Barack Obama’s presidential campaign than to John McCain’s. A search of campaign contribution database at OpenSecrets.org shows nearly 640 employees at the big four have contributed to Senator Obama’s campaign, while only 326 employees have donated to Senator McCain.…
INDIAN CONFECTIONERY MARKET FACING DOWNTURN, AFTER PERIOD OF ROBUST GROWTH
BY RAGHAVENDRA VERMA
IN India confectionery is considered a product that provides "an inexpensive taste experience" according to a report released earlier this year Federation of Indian Chambers of Commerce and Industry (FICCI). This populist branding of a sector was used to argue in favour of tax-cuts for an industry that is currently facing many hardships.…
Local politics trump global free trade – even for India’s great liberaliser
By Raghavendra Verma, in New Delhi
The Indian parliament is full of socialists, communists, nationalists and most of all, opportunists who would jump on any issue that could be portrayed as anti-poor or anti-farmer. So onlookers might think it easy for Prime Minister Manmohan Singh to play safe and let the WTO talks falter.…
Working out the World Trade Organisation: its rules count, everywhere
By Keith Nuthall The World Trade Organisation (WTO) is the globe’s deal making forum. When conspiracy theorists claim the there is a plot to create a world government, they often accuse the WTO as being a nascent international authority. And guess what? They have a point. WTO agreements are global in scope, and enforceable within the organisation’s disputes settlement procedures.
And so member governments have to obey. If a dispute settlement body panel rules that a government is breaking a WTO rule, then they must change a policy or even a law, if it is at fault. And this would apply even if that law itself was based on rules laid down by a regional international grouping such as the European Union (EU) or the North American Free Trade Agreement (NAFTA).…