Thursday 28th August 2014                 Change text size:

Photo: Erwin Soo via Flickr

Standard Chartered faces more fines from US regulator

The multinational bank Standard Chartered has warned it faces further fines, remedial action and an extended monitoring period as New York’s financial regulator found problems with its anti-money laundering controls. Computer faults were found in Standard Chartered’s surveillance system, in what is the second time in two years the...


India Gate, New Delhi

India to host BASIC summit to discuss climate change

Environmental ministers from Brazil, South Africa, India and China will meet in New Delhi this week, to discuss plans to combat climate change ahead of climate talks in Lima in December. The BASIC group was formed on a commitment to the Copenhagen Accord, which was signed with the US....


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Bank of America to pay settlement of $16bn for mortgages case

The Bank of America and the US Justice Department are set to agree the biggest settlement imposed by the department. The deal would see the Bank of America pay more than $16 billion (£9.5bn) to settle an investigation around mis-selling mortgage backed securities prior to 2008. The bank has...


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Al Gore: economic case for coal divestment as strong as moral one

The economic case for divesting from coal is growing and investors need to understand the risks associated with fossil fuel assets, as the world attempts to limit carbon emissions and global warming, according to Al Gore, former US vice president and chairman of Generation Investment Management, and David Blood,...


Jerry Brown at the Oakland rally

$6 billion water bond promised by governor to rescue California from drought

California governor Jerry Brown has called upon lawmakers to approve a $6 billion (£3.5bn) bond measure to secure the state’s water supply, as the east coast suffers from a record drought. The $6 billion bond is far smaller than the original $11.1 billion (£6.5bn) bond that was approved in...


Photo: Lego

Lego’s first female scientist figurines sell out in days

A new set of all female scientists, launched by Lego after customers complained its toys adhered to derogatory gender stereotypes, has sold out in a matter of days. The toys, which include a female astronomer, chemist and paleontologist, were launched after 7-year-old Charlotte Benjamin sent a letter to the...


mount polly disaster

Canada faces environmental disaster as 1.3 billion gallons of mining waste flows into rivers

Citizens of British Columbia awoke to the thunderous noise of over a billion gallons of mining waste water cascading through Hazeltine Creek earlier this week, polluting the state’s fresh water supply. According to officials, the open-pit Mount Polley copper and gold mine may have suffered a breach in a...


Serbia flood by Oximity ‏via Twitter

Serbia and Bosnia hit by new round of deadly flooding

Severe flooding in Serbia and Bosnia has killed at least one person, just three months after record-breaking floods killed more than 50 people and displaced thousands. Heavy rain has caused widespread flooding as rivers burst their banks across the Balkans, with Croatia also affected.  In the western Serbian town...


China rooftop solar panels

Chinese government to encourage business solar rooftop installations

China, the world’s largest solar production market, is expected to guarantee further industry growth, with the announcement of legislation that will encourage the installation of rooftop solar panels on business and commercial rooftops. The idea behind the initiative is primarily distribution, as energy produced on rooftops can be supplied...


Photo: Michiel Jelijs via Flickr

Marine pioneer Lewis Pugh to swim seven seas

Self-confessed ocean advocate and swimmer Lewis Pugh will take on his most ambitious challenge yet this August. The Arctic explorer will swim in seven of the world’s ancient seas to raise awareness of the desperate need for action to protect marine life. Pugh is taking on the challenge to...


50 pound notes By Images_of_Money via Flickr

New SME lending rules to ‘open the flood gates’ for alternative finance

Banks in the UK may soon be forced to help small and medium sized enterprises (SMEs) find alternative sources of finance if they turn them down for loans, under proposed legislation outlined today. The unveiling of the rules, which are expected to take effect in Autumn, follows a Competitions...


Photo: Kārlis Dambrāns via Flickr

Samsung to continue using ‘child labour’ supplier

Tech giant Samsung Electronics has said it will reduce dealings with parts supplier Dongguan Shinyang Electronics by 30%, after evidence was discovered that the firm has used child labour. China-based Dongguan Shinyang came under fire in July, when campaign group China Labor Watch (CLW) found at least five child...


Hong Kong

Asia Climate Partners in $400m low carbon investment venture

ORIX, Asian Development Bank and Robeco have committed to a $400 million (£237m) joint venture that promises to mobilise private equity investment in low carbon initiatives across the east. The three groups have united to form the Asia Climate Partners (ACP), which will be founded in Hong Kong, with...


ANU by Stephen Dann via flickr

Australian National University to take sustainable investment advice from CAER

Environmental campaigners have welcomed the Australian National University’s (ANU) decision to hire research firm CAER, to advise the institution on sustainable and ethical investment. ANU’s new agreement with Canberra-based analysts CAER will mean its investments are judged according to social, environmental and ethical risks. “ANU recognises the importance an...


Photo: La Citta Vita via Flickr

Sustainability director of General Motors on clean energy for the future

Director of sustainability at General Motors (GM), David Tulauskas, has said corporations must do more to support renewable energy, while utilities must help make clean energy more accessible through innovation. In a post in the Guardian’s values-led business hub, Tulauskas argues the current system of sourcing renewable energy is...


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