Displaying items by tag: commerce

Small British businesses are halting shipments to Northern Ireland and the EU due to new EU customs rules and product safety regulations. These regulations require complex compliance steps, including detailed paperwork, batch numbering, and the designation of an EU or Northern Ireland-based 'authorised representative’. Many small firms, lacking resources to navigate these requirements, have chosen to cease trade rather than risk penalties. Entrepreneurs are expressing frustration over the lack of timely government communication and support. Business owners learned about the changes through social media rather than official channels, exacerbating the challenge during the busy Christmas season. While the Government claims to prioritise small businesses, the lack of tailored guidance leaves many struggling. Small businesses fear these changes favour larger corporations, potentially widening economic disparities.

Greenpeace activists unfolded 200 square metres of oil-black fabric over the home of Rishi Sunak and unfurled a banner saying ‘Oil Profits or Our Future?’ in front of the manor house, protesting against North Sea oil and gas drilling licences amidst a summer of escalating climate impacts. See Christian Aid warned the Government that issuing 100s of new oil and gas licences ‘flies in the face of climate science.’ They went on to state that ‘Now more than ever, UK’s Government must show leadership and strengthen their climate plans to protect millions in low-income countries. Instead, these wrongheaded priorities on new oil and gas licences obliterate the UK’s net-zero commitments and lets down people on the frontline of the climate crisis. The Prime Minister needs to put people and planet first.’ Pray for the government to acknowledge the calls from environmental campaigners and recognise that there needs to be an end to North Sea drilling.

The former Archbishop of York, Lord Sentamu, hit out at 'arrogant' Shell after he was prevented from delivering a Christian climate letter to the headquarters of the oil giant on behalf of Christian charities. When Sentamu, now chair of Christian Aid, knocked on the building entrance in central London, he was refused entry. The letter, addressed to Shell’s chief executive, was signed by Green Christian, Christian Climate Action, Tearfund, A Rocha UK, Christian Aid, Cafod, and Operation Noah. It calls on Shell to stop all new fossil fuel exploration and extraction and asks for a meeting to discuss the issue. Lord Sentamu said, ‘Climate change is the greatest insidious, brutal and indiscriminate force of our time. Those suffering the most have done the least to cause it. Continuing to search for new sources of fossil fuels, despite explicit warnings from the International Energy Agency, is an offence against humanity.’

This week, a US judge ordered Swiss mining and commodity giant Glencore to pay US$700 million in a long-running corruption probe. Last year, Glencore pleaded guilty to channelling at least US$100 million in bribes to public officials globally - from Brazil to the DRC, and Nigeria to Venezuela. Glencore negotiated with Brazil, the UK and America to pay up to US$1.1 billion. This week’s sentence confirms the US portion of the coordinated settlement. But it doesn’t address the full scope. There are more populations and individuals who suffered harm from Glencore’s scheme. Pray for a more comprehensive effort to identify and adequately compensate all those affected, particularly the most vulnerable. Meanwhile Indonesia wants guarantees from the UK that they will receive a portion of any future financial settlement resulting from a corruption inquiry into an aircraft manufacturer after Jakarta was excluded from an agreement made with Airbus, even though Indonesia assisted with the investigation.

For Global Britain to be credible it is time for its architect, Boris Johnson, to intervene with retribution tactics not deterrence. Closing Russia’s embassy and removing their diplomats while removing ours from Moscow would indicate a fundamental shift in the understanding of Russia as not a partner in diplomacy, but a threat to other nations. Russian state outlets in the UK, like Russia Today, spouting propaganda masquerading as journalism, should be shut down immediately to prevent misinformation. Those operating in politics, law, and media while representing Russian state interests should be forced to declare who is paying their bills. Visas should be cancelled and assets of everyone linked to Putin’s regime frozen. Of all the economic sanctions, cutting Putin’s regime off from SWIFT international payment system would remove Russia’s ability to make international transactions, trigger capital outflows and currency instability, and hit buyers of Russian oil and gas.

Indian farmers have been protesting against farm acts passed by the parliament last September. Their unions have demanded the laws be repealed, and will accept nothing less. The new acts, which exclude guarantees giving farmers a fair price for their produce, are described as ‘anti-farmer laws’ by the unions and opposition politicians. Since September the protests have become more violent. On 26 November a nationwide general strike by 250 million people took place in support of the farmer unions,and on 30 November 300,000 farmers converged in various places from the Punjab to Delhi. On 26 January tens of thousands violently fought the police, overturned vehicles, and hoisted religious flags from the ramparts of Delhi’s Red Fort. See

Pressure group ShareAction has called on Barclays Bank to ‘phase out’ financing energy companies that are not aligned with the Paris climate accord. Barclays is close to securing qualified investor support for a new action plan on climate change, as they move away from relationships with carbon-polluting companies. In May their shareholders will have the chance to vote on the proposal at their annual general meeting. City sources said that Barclays' alternative resolution would commit it to helping ‘transition’ energy companies towards the Paris goals. One investor briefed on the plan described it as a ‘landmark’ for a major lender. We can pray that other banks will commit to measures that will cause polluting companies to achieve Paris compliance across lending measures, underwriting, corporate finance and all forms of project financing.

Chancellor Rishi Sunak delivered his first Budget in the House of Commons on 11 March. Parts of it appear to have been written at the last minute as coronavirus spreads across the nation. His spending plans include a £5bn emergency response to support the NHS and other public services with statutory sick pay for all who choose to self-isolate, even if they don't have virus symptoms. Benefit claimants will be able to claim sick pay on day one, not after a week, and there is a £500m hardship fund allocated to help vulnerable people. To try to save businesses from liquidation, firms with fewer than 250 staff will be refunded for sick pay payments for two weeks, and small firms will be able to access ‘business interruption’ loans of up to £1.2m. Business rates will be abolished for firms in the retail, leisure and hospitality sectors with a rateable value of less than £51,000.

A leading Palestinian businessman, Sheikh Ashraf Jabari, served a kosher spread to his Israeli guests at a traditional fast-breaking ‘Iftar’ meal, which Muslims eat during the holy month of Ramadan. He hosted several key Israeli leaders including the Samaria regional council head, a Jewish community leader, and Heather Johnston of the Israel-US Friendship Association, as well as members of the Chamber of Commerce and Industry. Jabari said, ‘This meal is a reinforcement, in the sense that economic-business relationships and the strengthening of relations and friendship lead us all to a more positive place. Breaking the fast together at a joint meal in Hebron clearly symbolises our ability to bridge all gaps.’ The meal is an example of Palestinian business leaders choosing to set aside political issues to focus on improving economic prospects for the Arab sector.

We recently had ‘African Anti-Corruption Day’ ,which recognised the progress made in the fight against corruption and the significant work still left to do. To highlight this point, the African Union (AU) designated 2018 as the year for ‘winning the fight against corruption’. The AU signed several treaties aimed at ensuring democracy, rule of law and good governance. But much more needs to be done. Corruption hampers development and the ability to bring people out of poverty. The continent ranks lowest amongst global regions in corruption perceptions, and the impact cannot be underestimated. 43% of Africans are living in poverty while over 50 billion US dollars’ worth of stolen assets flow out of Africa annually, money that could be invested in jobs and social services, where additional resources are needed most. Transparency International wrote an open letter to the AU highlighting seven areas where it could focus its efforts.