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Europe faces “existential” productivity challenge
Europe is being left behind by the US because of slow productivity growth, which has helped to create a widening gap in GDP between the US and Europe and a sluggish increase in living standards, according to a report by the European Commission. While Europe benefited from a stable geopolitical world, it was able to free…
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Committee addresses failings of public inquiries
Expensive, timely and sometimes ineffective, public inquiries often fail to see their recommendations implemented by the governments that accept them, according to a parliamentary report. “This is inexcusable, as it risks the recurrence of a disaster and undermines the whole purpose of holding an inquiry in the first place,” the report said as it recommended setting…
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New employer duties on sexual harassment
Employers have a duty to take reasonable steps to prevent sexual harassment under rules that come into effect in October. In future, employers that fail to protect workers will face steeper compensation awards by tribunals that find against them. The tougher rules brought in by the Worker Protection (Amendment of Equality Act 2010) Act 2023 defines harassment…
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Businesses report mixed experiences in implementing AI
Almost three-quarters (74 per cent) of businesses that have implemented generative AI (Gen AI) projects reported that they had seen return on investment (RIO) on at least one of those, according to a report by Google Cloud. Just over a half (52 per cent) also reported increased overall annual revenue of between 6 and 10…
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Employers need to do more to boost IT skills
UK businesses looking to attract staff to tackle sills shortages in artificial intelligence and cybersecurity are likely to have to increase budgets, re-jig work-life balance offerings and upskill staff. Almost half (47 per cent) of technology professionals responding to a survey said that work/life balance was significantly more important to them than it was last…
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Port congestion risks global supply chain trouble
Congestion at Singapore’s largest container port hub has been at the worst levels since the pandemic over the past few weeks and could point to possible global supply chain disruption. While congestion began to ease in recent days, container ship arrivals have fallen to the lowest levels in a year, according to Yahoo news. Total shipping…
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Business investment lags confidence
Improving sales and cashflow in the second quarter of 2024 saw UK business conditions returning to pre-pandemic levels, according to the British Chamber of Commerce (BCC). Over half (58 per cent) of small and medium-sized enterprises (SMEs) responding to the body’s quarterly survey expected their turnover to grow over the coming year. “The latest results from…
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Digital risk management maturity increases
Organisations said that while sophisticated digital strategies were a must for combating digital threats, 65 per cent reported being in advanced stages of digital risk management maturity, according to a survey by Audit Board. That included actively mitigating and continuously monitoring digital risk. That figure has increased from 26 per cent in 2023 and can be…
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Asia-Pacific ESG efforts on the rise
Businesses across the Asia-Pacific region have increased efforts to improve the quality of their environmental, social and governance (ESG) reporting, but significant challenges remain. Most Chinese businesses said they were adopting ESG data because of regulatory requirements (25 per cent), followed by the demands of onshore clients (21 per cent), offshore clients (21 per cent),…
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Court rules on tougher climate risk assessments
A landmark ruling by the UK’s Supreme Court said that a local council should have considered the full climate impact of burning oil from new wells – rather than restricting its assumptions to the impact of their construction. That means that future proposals for oil and gas projects will need to take account of how…
