Saturday 23rd August 2014                 Change text size:

bank of america by Paul Lowry via flickr

Bank of America settles US ‘toxic mortgage’ claims in record $17bn payment

In the largest single payment by a US company to settle a civil dispute, the Bank of America (BoA) is set to pay $16.7 billion (£10bn) to settle allegations that it misled investors into buying toxic mortgage deals. The second largest bank in the US, BoA has faced allegations...


Christian Schnettelker via flickr

Food poverty is causing malnutrition in the UK

Public health experts have warned that the number of people hospitalised for malnutrition in the UK has risen by 19% because people cannot afford good quality and nutritious food. Data from the Health and Social Care Information Centre has revealed that the number of people admitted to hospitals for...


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Network seeking to educate businesses on ethics launches crowdfund

A crowdfunding campaign seeking to raise £15,000 to create a network that aims to educate and support businesses when it comes to ethics and corporate responsibly has been launched. The campaign comes from Ethical Value’s, which wants businesses to change their cultures and place people above profits. Taking this...


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Overall GCSE grades rise but English pass rate falls

As pupils receive their GCSE grades today, official figures show that 68.8% of entries scored an A* – C grades, a 0.7% increase on last year’s results despite warnings that results could fall following an overhaul of the exam system. There was a slight decrease in the number of...


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Rockefeller Foundation calls for applicants for resilient cities challenge

The 2014 application process for the 100 Resilient Cities challenge, which is pioneered by the Rockefeller Foundation, has officially opened and is looking for cities that are ready to address the challenges they face. Cities worldwide face two clear challenges, according to the organisation. The first is increasing urbanisation,...


401(K) 2012 via Flickr

More businesses going green to save money – survey

Corporate social responsibility (CSR) practices are becoming increasingly popular among companies as these realise the economic advantages of green measures to save money, new analysis suggests. A survey by consultancy firm Grant Thornton, composed of more than 2,500 firms, has found that sustainable practices in businesses are being driven...


Standard Chartered another fine - Erwin Soo via Flickr

Standard Chartered set to pay $300 million settlement over illegal money laundering practices

A settlement deal between the UK bank Standard Chartered and Benjamin Lawsky, head of New York’s Department of Financial Services has been outlined due to the banks failure to prevent continued money laundering activities. After previous allegations, Lawsky took $340 million (£240m) from the London based bank to set...


Photo: Carlos Maya via Flickr

UK ‘sharing economy’ could be worth £9bn by 2025

The UK’s fast-growing “sharing economy” could be worth £9 billion by 2025, according to a new report from PwC. The analysis considered many different sectors of the sharing economy, such as peer-to-peer finance – where users can take out loans from fellow users – and car sharing services –...


Photo: Centre for Alternative Technology via Flickr

Tories ‘out of touch’ with British public on renewable energy

A new poll conducted by ComRes on behalf of REG Windpower has found that almost four out of five Conservative MPs are opposed to onshore wind, while the majority of the public say they would be happy to have offshore wind in their area. Only 12% of Conservatives said...


A McLin via Flickr

Complaints about payday loan middlemen more than double in 2014

The Financial Ombudsman Service (FOS) has reported that so far in 2014 more than 10,000 people have complained about payday loan middlemen – credit broking websites – more than double the number recorded in the whole of 2013. Credit broking websites are presented as tools to help people find...


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Challenger bank Aldermore prepares for IPO

Competition in the banking sector could receive a boost following reports that challenger bank Aldermore is preparing to launch an initial public offering (IPO). According to the Telegraph, the stock listing is expected to value the bank at between £800 million and £900 million and is expected to raise...


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More than one in ten businesses believe slavery in their supply chain is ‘likely’

Though more than one in 10 businesses say it is likely that their supply chain features slaves, supply chain risks reached an 18-month low in the second quarter, according to new research. However, concerns have been raised that increasing political and social instability could impact businesses. According to research...


Photo: Nils Rinaldi via Flickr

‘Poaching epidemic’ leads to fear over future of elephants in Africa

New research from Colorado State University has found that the illegal killing of elephants in Africa has seen a huge rise since 2009. The study found more than 100,000 elephants have been killed in Africa for their ivory since 2010, meaning the death toll is exceeding the species’ birth...


Jean-Marie Hullot  via flickr

South Asian GDP will be slashed by climate change – report

The Asian Development Bank (ADB) has warned that South Asian economies face a 8.8% loss in their annual gross domestic product (GDP) by 2100, because of the impacts that climate change and extreme weather will have on resources and infrastructure. The analysis, Assessing the Costs of Climate Change and...


pounds stacked by Images of Money via Flickr

Poll: three quarters of MPs don’t understand how money is made

Some 80% of MPs lack basic understanding of where the UK’s money comes from, according to a new poll. The survey, commissioned by the reform campaign group Positive Money, found that 71% of MPs believe that only the government has the power to create money. A further 9% said...


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