Manifest-i - Comment

Gordon Brown shows domination at CBI

Karen Talbot, Editor

December  2005

Most recent news reports about Gordon Brown, the Chancellor of the Exchequer, have been concerned about whether he will support the agenda for pensions reform proposed by Adair Turner's Pension Commission but his signalling of the withdrawal of government support for a mandatory operating and financial review represented a startling u-turn and indicated the dominance of the Treasury over the Department of Trade and Industry. More >>

High quality debate at European governance event

Paul Hewitt, Manifest European Business Development Manager

Last month the Department of Trade and Industry hosted the European Corporate Governance Conference, an event which has recently become a tradition of the country holding the six month-long Presidency of the EU.  More >>

Governance

Standards & Guidance

EU governance plans driven by wider agenda

Improving the competitiveness of EU companies through the Lisbon agenda and a push towards better regulation will be the driving forces behind the second phase of the Company Law Action Plan, Charlie McCreevy, European internal market commissioner, has told recent conferences addressing corporate governance. More >>

Activism

Progress made on voting shares

Paul Myners’ latest update on the progress of his 2004 review of the impediments to voting UK shares has found the process to be improving and voting levels to be increasing, although room for improvement remains. More >>

Companies

FSA: No more action to be taken over Shell scandal

The Financial Services Authority (FSA) is to take no further action over its investigation into the overstated oil reserves of Shell. More >>

Accounting/Auditing

FASB aims to improve pension reporting

The US accounting standard setter, the Financial Accounting Standards Board (FASB), is to reconsider its guidance for accounting for pensions and other postretirement benefits. More >>

Research

Smaller companies have Combined Code concerns

Although widely endorsed by the FTSE 350, smaller companies are markedly less happy with the Combined Code on corporate governance, according to a survey of company secretaries by Edis-Bates Associates, the company secretarial consultancy. More >>

People

Green to succeed Bond as chairman at HSBC

Stephen Green, group chief executive of HSBC, is to succeed Sir John Bond as chairman of the bank. Bond will step down at HSBC’s 26 May 2006 AGM and Green will be replaced as chief executive by Michael Geoghegan, current chief executive of HSBC Bank. More >>

Corporate Social Responsibility

Health and Safety

Fatal injuries fall overall, rise in Scotland

The Health and Safety Commission/ Health & Safety Executive (HSC/HSE) 2004/05 statistics on workplace injury and work-related ill health in the UK show fatal injuries fell to 220 from 236 in 2003/04.
More >>

Best Practice and Ethics

Social auditing failing workers in garment industry

The Clean Clothes Campaign (CCC), which works for improved working conditions in the garment industry, has accused social audits of failing to adequately monitor conditions in facilities producing garments and sports shoes. More >>

Environment

European Parliament pushes forward REACH

The European Parliament has supported a compromise on the proposed EU regulatory framework for chemicals - REACH (Registration, Evaluation and Authorisation of Chemicals) paving the way for the EU Council to reach agreement on it before the end of the year. More >>

Socially Responsible Investment

Briefs .....

The French Pensions Reserve Fund (FRR) has selected a short list of asset managers to submit proposals for mandates to manage European equities taking into account financial and non-financial factors while using socially responsible investment criteria.
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Governance Resources

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Conferences

Topical governance and CSR-related conferences. More >>

Features

News Analysis

Brown abandons OFR in name of deregulation

The statutory requirement to produce an Operating & Financial Review which has been the subject of much consultation and discussion was abandoned by the Chancellor Gordon Brown, last month in a speech to the Confederation of British Industry's annual conference. More >>

Sector Review

General Retailers

As they are selling directly to the public, retailers need to be aware of consumer trends and as their names become so well-known they can develop reputations that can be built upon but also knocked.
More  >>

Leaders and Laggards

MFI loses remuneration vote

Standard Life Investments and the Co-operative Insurance Society (CIS) were among investors that voted against the remuneration report of the furniture retailer, FTSE 250-listed MFI which the management lost at its AGM on 19 May this year. More >>

Academic Round up

Manifest-I presents a summary of recently released academic papers on international corporate governance issues. More >>

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