For keepsies: Making an online return? You may end up not having to return it at all. This year, 59% of retailers offer “keep it” policies for such products, up from 26% last year, according to returns services firm goTRG, Reuters reports. The firm surveyed 500 executives at 21 major retailers, among them Amazon and Walmart. As retailers adopt tech to root out excess costs, more are embracing returnless policies for certain online purchases — a trend that obviously retailers do want out there. Online grocery, in some ways, has a similar policy in place. Get the wrong item in your Instacart order? You can report it and get a credit, but in many cases you end up keeping the item anyway. Will consumers start to abuse these systems? Time will tell. —Chloe Riley 

A chicken conundrum: When it comes to rotisserie chickens, it takes a lot to keep ahead of the game. And sometimes it’s a losing battle, according to a deli worker at Costco who explained on Reddit why sometimes the warmer is empty at stores. The main reason is that Costco requires workers to determine how many chickens will be needed for a two-hour span in order to avoid dried out chicken. The employee says the formula is far from scientific, and often the demand is too heavy and the labor power is just not there. Another reason is that there is no limit to how many shoppers can purchase, which sometimes leads to chickens being stacked 40 or 50 high. (That has to be some kind of safety hazard.) Some Reddit readers could relate to the rotisserie circus. One said they “worked chickens for over four years” and it was one of the hardest jobs in the warehouse. It appears chickens are not the only things getting cooked behind that counter. —Bill Wilson

An apple a day keeps the hunger at bay: There was an apple surplus this year, attributable to a couple of different factors. Bumper crops have kept domestic supply high, and exports declined 21% over the past decade, a symptom of retaliatory tariffs from India. Weather also played a role this year, with hail leaving a significant share of apples cosmetically unsuitable for the fresh market. In West Virginia, rather than leaving the apples to rot, the USDA ended up paying for the apples produced by growers. This apple relief program purchased $10 million worth of apples from a dozen growers — which were then donated to hunger-fighting charities across the country from South Carolina and Michigan all the way out to The Navajo Nation. Talk about avoiding food waste. —CR

A killer strategy: Dave’s Killer Bread has a pretty killer story attached to it. After 15-plus years in prison, founder Dave Dahl found his true calling: to make organic, whole-grain bread. This six-minute video from HubSpot examines how Dave’s Killer Bread nailed its target market and leaned into social to tell its story. Dahl wasn’t ashamed of his criminal past, but his advisors begged him not to mention it…So he fired them and became a champion of second-chance employment.That strategy, along with a national rollout following a 2015 acquisition by Flowers Foods, would eventually lead to 50% brand growth within a purpose-driven brand identity. The morale of the story? It pays to be on purpose. —CR

Self-checkout, now even faster: Checkout scanners are far from perfect, and when you add those not trained to work the technology the whole process can become a shopping cart full of frustration. British grocer Tesco, however, is taking that approval beep out of the equation in the self-checkout area. The retailer now has scan-free kiosks at one of its stores. The tech allows the transaction to be completed without scanning a single item. According to a recent survey by retail data supplier PYMNTS, 28% of merchants, including grocers, are investing in in-app scan-and-go capabilities. Surprisingly, shoppers are not jumping in line to take advantage of the fancy gadgets. Another PYMNTS study revealed only one-in-three consumers wanted to take advantage of the store tech. If you’ve ever had to wait for a worker to come help you in self-checkout, you might just think another thought. —BW

Source : Supermarket News

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A substantial 26% of cyber incidents in businesses over the last two years have been found to be the result of intentional security protocol violations by employees. This figure closely rivals the 20% attributed to external hacking attempts.

The findings come from Kaspersky’s latest study, which explained that, contrary to prevailing beliefs that human error is the primary cause of cybersecurity incidents, the reality is more nuanced. 

Seeking insights from IT security professionals in SMEs and enterprises globally, the research aimed to understand the diverse impact of various individuals on a company’s cybersecurity posture. 

It discovered that intentional policy violations by employees, spanning both IT and non-IT staff, played a significant role in cyber incidents. Notably, IT security officers, other IT professionals and non-IT colleagues were identified as sources of breaches, contributing to 13%, 12% and 4% of incidents, respectively.

Examining individual employee behavior, the study revealed that 22% of incidents resulted from the deliberate use of weak passwords or failing to change them promptly. Additionally, 18% were linked to staff visiting unsecured websites, while 25% occurred due to neglecting system software or application updates.

Unsolicited services or devices were identified as significant contributors to intentional policy violations, with 14% of companies experiencing incidents due to unauthorized systems for data sharing. Particularly concerning was the finding that 20% of malicious actions were committed by employees for personal gain, with the financial services sector notably reporting 34% of such incidents.

Highlighting the necessity of a comprehensive cybersecurity strategy, Alexey Vovk, who leads information security at Kaspersky, emphasized the significance of fostering a culture of cybersecurity within companies.

“As the numbers are alarming, it is necessary to create a cybersecurity culture in an organization from the get-go by developing and enforcing security policies, as well as raising cybersecurity awareness among employees,” Vovk explained. 

“Thus, the staff will approach the rules more responsibly and clearly understand the possible consequences of their violations.”

Source : Info Security

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Startups can be at the forefront of economic recovery, job creation, and a more sustainable future. They are the most innovative actors in the economy and an economic force to be reckoned with. However, while they are the giants of the future, they are more often than not overlooked in policymaking. 

In the last five years alone, startups have been met with a tidal wave of digital regulation. While well-intentioned, overregulation often creates a hostile environment for innovative businesses by implementing market barriers and imposing additional operating and compliance costs.

The 2024 European Union Elections offer an opportunity to reverse this trend by ensuring that startups have a seat at the policy table so that Europe can build smart regulations and at the vanguard of startup innovation.  

Allied for Startups and its Members have published its EU Election Startup Manifesto, a standard with which startup communities and leaders will evaluate the success of any candidate, party, or group seeking a leading role in a democratic Europe in 2024.

While these policy prescriptions are a baseline of the needs of the growing entrepreneurial communities of Europe, support for these entrepreneurs and job creators must be aligned with an acknowledgment of the need for further investment in diversity, equity, and inclusion.

This integrated approach is likely the most effective pathway toward ensuring Europe’s continued growth and economic success.

What do startups need from policymakers?

Policymakers must embrace strategies and initiatives that will foster a growth-oriented environment for startups to deliver on the digital and green transitions as promised.

Hence, we propose a variety of actions, including:

Appointing a dedicated Commissioner for Digital Entrepreneurship, in order to simplify and harmonise all regulation that affects startups in a single place.

Introducing a startup and scale-up test for legislation, essential to creating regulatory frameworks that startups can not only comply with but thrive under.

Streamlining talent acquisition through an efficient EU-wide startup visa and simplifying regulatory processes with an EU company status.

Startups advocate for a harmonised level-playing field that allows them to innovate, emphasizing the importance of safeguarding net neutrality, fortifying the Digital Single Market, and strong research, investment and digital skills framework to nurture a competitive and thriving ecosystem.

What are startups’ expectations across EU institutions?

Startups’ expectations across EU institutions extend to the creation of dedicated groups and teams within the institutions, integrating startup perspectives into relevant deliberations, nominating counterparts, and emphasizing startups and SMEs in official titles.

Effectively, having a seat at every policy table.

While a new Parliament is on the ballot next year, startups recognize the importance of and positive outlook for all EU institutions to build a sustainable, lucrative future for European startups.

Prioritising startups’ needs during this election season holds the potential to transform Europe into an environment where innovation thrives, startups prosper, and Europe secures a prominent role in the global entrepreneurial landscape.

With these 10 items at the forefront of voter outreach and discussion, Europe can re-emphasise its commitment to building a strong startup community and lead the global economy.

Source : Tech EU

The post Startups Should Have a Seat at the Policy Table, Not on the Menu appeared first on Policy Print.

Momentum behind carbon capture, utilisation and storage (CCUS) is reaching unprecedented levels, but implementation continues to lag behind, a new IEA report finds.

With over 400 new carbon capture, utilisation and storage (CCUS) projects announced globally in the past three years in more than 45 countries, the IEA’s new toolkit sets out the policies that can turn developer ambitions into reality.

The report, CCUS Policies and Business Models – Building a Commercial Market, finds that new business models for CCUS are emerging, driven by new players entering the market. This is reshaping the framework for future CCUS projects and can open the door to investment opportunities. Still, many challenges remain on the path for CCUS to contribute to global efforts to reach net zero emissions at the level envisaged in the IEA’s Net Zero Roadmap.

CCUS deployment in this decade will be critical to get it on track for its role in enabling the global energy sector to reach net zero emissions by mid-century. When world leaders gather for the COP28 climate conference that begins this week in Dubai, there will not only be an opportunity for governments to raise their ambitions on CCUS – the meeting will also be an important opening for the oil and gas industry to demonstrate a meaningful commitment to curbing emissions and moving beyond the status quo. CCUS can play an important role in these discussions.

Existing CCUS policies – commonly aimed at reducing costs – have helped move early projects into operation, but they have also skewed deployment toward low-cost applications. These types of policies alone are not sufficient to scale up CCUS across other applications. Governments around the world are now taking different policy approaches, drawing from lessons in other parts of the energy system to adapt to these new business models.

Many early CCUS projects have been characterised by a full-chain business model, with a single project framework across the CCUS value chain from CO2 capture to transport and storage. The oil and gas industry has led these efforts, thanks to its expertise in operating large-scale projects and knowledge of the geological subsurface. However, the industry’s historical focus has been on using the captured CO2 to extract more oil. This needs to shift to a focus on dedicated CO2 storage.

Today, new “part-chain” business models are emerging, with separate entities specialising in different parts of the CCUS value chain. While the oil and gas sector continues to play a role, the market entrance of new specialised players can facilitate access to the expertise and infrastructure needed to support decarbonisation, as well as bolster innovation and reduce costs across the value chain.

And innovation in CCUS projects is urgently needed: Around three-quarters of capture capacity by 2050 envisaged in the IEA’s Net Zero Roadmap relies on technologies and applications that are still at demonstration or prototype scale. There’s also a need to reduce energy use and costs for CCUS applications, which are still high compared with unabated technologies for most applications. Long lead times can further impede progress, particularly for CO2 storage. While new business models can mitigate some of these challenges, by reducing costs and lead times, they also bring new complexities, creating a need for governments to coordinate across the value chain.

The IEA’s new report and policy toolkit aims to provide useful guidance to governments seeking to create the conditions necessary to attract long-term private investment in CCUS, and to address the overarching economic, lead time, innovation and complexity challenges to deployment.

Source : IEA

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Baristas and shift supervisors at Ottawa’s Bridgehead coffeehouses who just got minimum wage boosts are being unfairly punished by a new policy that adds managers to their tip pools, a local labour group says.

Sean McKenny, president of the Ottawa & District Labour Council, said the tip-sharing change — which Bridgehead confirmed to CBC — takes away from the gains recently made by minimum wage workers.

The Ontario government hiked the minimum wage by just over a dollar, to $16.55 an hour, on Oct. 1.

“It really is hard to understand,” said McKenny of Bridgehead’s decision. “Especially at a time when those minimum wage workers need that increase in wages.”

Bridgehead, which began as an Ottawa-owned company and was acquired by Toronto-based Aegis Brands in 2019, declined to be interviewed.

In an emailed statement, Bridgehead president Paul Pascal said managers were added to the pool in October “to acknowledge their contributions.”

“Our coffeehouse managers have always been an integral part of the team, actively contributing to the exceptional guest experience we strive to provide,” Pascal said. 

The inclusion of front-line managers in tip-sharing is not new, with workers at a restaurant in Niagara Falls, Ont., going on strike partly over that issue in 2019.

Change might be ‘distressing,’ company warns

Bridgehead operates 21 cafés in Ottawa, according to its website.

According to a staff note sent to employees at one downtown location, the minimum wage hike affected the hourly pay of baristas and supervisors, and “instead of increasing the managers’ salary accordingly, Bridgehead has decided to include managers in tips as their raise” as of Oct. 9.

“Since all our tips are divided equally by the hours worked at our store,” the note continued, “adding another person’s hours to this will impact the amount of money each of you can expect to receive in tips.”

The note acknowledged the change “may be distressing.” Coffeehouse staff were consulted about the change, Pascal added in his statement to CBC.

McKenny said it was “absolutely ridiculous” Bridgehead was using tips meant for their “lowest-paid workers” to boost managers’ pay.

“It just doesn’t make any sense,” he said.

Staff resent change, says barista

A barista who works at a different downtown location told CBC the minimum wage increase “was effectively [made] moot by the decrease in tips.” 

CBC has agreed not to name her because she’s worried about losing her job. 

The salaried managers’ raise came to the detriment of “our take-home income and not at the expense of the company,” she said via email.

Staff have met the news with a mix of annoyance and resentment, she added.

In an interview, she said that while she’s not personally opposed to managers sharing in tips, she’s worried the new system might incentivize them to schedule themselves for more floor hours, which could take hours away from baristas and supervisors.

The staff note at the other location said there is a limit on how many hours managers can claim for tips. It also encouraged employees to talk to a supervisor if they thought a manager was “claiming more than what they are owed in tips.”

The barista said she’s worried about how that process would work.

She also said staff at her coffeehouse were informed about the change just a few days before it took effect, and that she wasn’t consulted beforehand. 

Source : CBC

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On October 4, 2023, the United States Department of Justice (DOJ) announced a “safe harbor” policy for companies that voluntary self-disclose violations identified during the M&A process.

US Deputy Attorney General Lisa Monaco, announcing the policy in a speech before the Society of Corporate Compliance and Ethics, said the safe harbor will apply to companies that self-report potential violations of an acquisition’s target business when disclosed within six months of the deal’s closing. The six-month safe harbor will apply to misconduct discovered pre- or post-acquisition. Reporting companies will have one year from the date of the closing of the deal to “fully remediate the misconduct,” according to Monaco, who also said that both the six-month and one-year deadlines could be “extended” by DOJ prosecutors, depending on the specific “facts, circumstances, and complexity of a specific transaction.”

The policy will allow acquiring companies that voluntarily self-disclose misconduct to avoid potential federal charges or regulatory scrutiny. “Going forward, acquiring companies that promptly and voluntarily disclose criminal misconduct within the safe harbor period; cooperate with the ensuing investigation; and engage in requisite, timely, and appropriate remediation, restitution, and disgorgement … will receive the presumption of a declination,” Monaco said.

The safe harbor policy will be applied across the DOJ, Monaco said, and each part of the DOJ — including individual US Attorney’s offices and DOJ components such as the Criminal Division and National Security Division (NSD) — “will tailor its application of this policy to fit their specific enforcement regime and will consider how this policy will be implemented in practice.” Monaco reiterated the DOJ’s goal of incentivizing compliance and deterring and penalizing repeat bad actors, with a special focus on recent corporate enforcement actions, particularly in the convergence of corporate crime and national security. To meet these goals, Monaco announced 25 new corporate crime prosecutors in the NSD, including NSD’s first chief counsel for corporate enforcement, Ian Richardson.

The safe harbor policy was previewed by Principal Associate Deputy Attorney General Marshall Miller during a talk at the Global Investigations Review annual meeting on September 21, 2023. In those remarks, Miller said the safe harbor is consistent with the DOJ’s continued emphasis on voluntary self-disclosure. “Acquiring companies should not be penalized when they engage in careful pre-acquisition diligence and timely post-acquisition integration to detect and remediate misconduct at the acquired company’s business,” he said.

The safe harbor policy will apply only to criminal conduct discovered in arm’s-length M&A transactions and will not apply to misconduct that was otherwise required to be disclosed or was already known to the department. As a further incentive to self-disclose misconduct identified in due diligence, the DOJ announced that the presence of aggravating factors at the target company will not affect the acquiring company’s ability to receive a declination. While treatment of the target entity may hinge on whether aggravating factors exist, Monaco indicated that in the absence of aggravating factors, the acquired target entity may also qualify for a potential declination. In addition, misconduct disclosed under the new policy will not be factored into future recidivist analysis for the acquiring company.

The DOJ’s focus on M&A, and its efforts to reward acquiring companies that self-disclose, is not new. For example, in 2012, the DOJ released A Resource Guide to the U.S. Foreign Corrupt Practices Act, in which it encouraged acquiring companies to, among other things: conduct thorough risk-based Foreign Corrupt Practices Act (FCPA) and anti-corruption due diligence on potential new business acquisitions; conduct an FCPA-specific audit of all newly acquired or merged businesses as quickly as practicable; and disclose any corrupt payments discovered as part of due diligence of newly acquired entities or merged entities.

The FCPA resource guide provided that the DOJ and US Securities and Exchange Commission (SEC) would give meaningful credit to companies that undertake these actions; as a result, in appropriate circumstances, the DOJ and SEC may decline to bring enforcement actions.

The DOJ Criminal Division’s Evaluation of Corporate Compliance Programs guidance, published in 2017 and revised most recently in March 2023, has also always emphasized the importance of pre-M&A due diligence. And likewise, in the context of civil healthcare fraud matters, the Department of Health and Human Services Office of Inspector General has long considered successor ownership, and the mitigation of a predecessor’s misconduct, in determining whether to require integrity obligations.

While not a seismic shift in DOJ focus or practice, much like other recent updated DOJ guidance, the safe harbor policy reflects an expansion and standardization of preexisting policies and underscores the DOJ’s focus on rewarding voluntary self-disclosure of potential violations. Acquiring companies across industries should take note of the DOJ’s continued focus on M&A due diligence and, in particular, the more refined timing principles that the DOJ has set out by establishing the safe harbor period for identification, disclosure, and remediation of misconduct. Acquiring companies should ensure that their diligence processes are robust and designed to uncover misconduct. Recognizing that criminal misconduct is often well-concealed, it is imperative that acquiring companies undertake immediate post-acquisition  integration so that should issues be detected through the integration process, acquiring companies have the opportunity to evaluate them and consider disclosure and remediation during the safe harbor period.

Source : GOODWIN

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The 225-issue Nikkei Stock Average added 289.35 points, or 0.90 percent, from Monday to close the day at 32,506.78, marking its highest closing level since July 19, 1990.

The broader Topix index, meanwhile, gained 16.49 points, or 0.74 percent, to finish at 2,236.28, to book its highest finish since Aug. 1, 1990.

Dealers said that data released Tuesday showing that along with household spending in Japan dropping 4.4 percent in April from a year earlier, wages were also on a downtrend.

They highlighted data showing wages slumped 3.0 percent in April, extending declines for the 13th consecutive month and noted that wages remain behind price rises for commodities and energy prices, with inflation forcing households to make some significant cuts in spending, like outlays for education.

As a result of the downbeat data, market strategists said the likelihood remained that the Bank of Japan would stay pat on its ultra-easy monetary policy, which bolstered buying confidence, despite the BOJ’s stance being in stark contrast to other major global central banks, which have tightened policies to combat oppressive inflation.

Brokers here also pointed to a growing view the U.S. Federal Reserve may forego a rate hike at the conclusion of its next policy-setting meeting, as some data, such as employment figures, have supported the view the U.S. economy may be improving.

But concerns remained, they said, as recent U.S. economic data has been choppy, with the Institute for Supply Management’s non-manufacturing data for May missing median market expectations, for example.

“A big reason why Japanese stocks are sought by global investors is because the improving situation in the United States has reduced downside risks in the world’s largest economy,” Koichi Fujishiro, a senior economist at Dai-ichi Life Research Institute, was quoted as saying.

Heavily weighted components reversed earlier losses and helped prop up the broader market, with Uniqlo clothing chain operator Fast Retailing gaining 1.7 percent.

Trading company Mitsui & Co. climbed 3.9 percent and was another notable winner, while Seven & i Holdings jumped 2.6 percent, following news it will revamp its delivery service to its stores to make it more efficient and profitable.

Banking shares lost ground, however, on reports regulators in the U.S. may increase capital requirements for lenders, in the wake of a number of U.S. bank failures.

Mizuho Financial Group lost 0.5 percent, while Mitsubishi UFJ Financial Group dropped 0.6 percent. Sumitomo Mitsui Financial Group, meanwhile, ended 0.7 percent lower.

By the close of play, wholesale trade, mining and iron and steel-linked issues comprised those that gained the most.

The turnover on the Prime Market on the second trading day of the week came to 3,450.13 billion yen (24.78 billion U.S. dollars). 

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The most active gold contract for August delivery fell 23.10 U.S. dollars, or 1.17 percent, to close at 1,958.40 dollars per ounce.

Gold remained trapped in a tight trading range of about 2 percent from the lower to higher end in the past week, as investors waited for clues on the Federal Reserve’s interest rate direction.

In short term, gold price may remain locked in the range from 1,950 dollars to 2,000 dollars, market analysts hold.

The U.S. Commerce Department reported Wednesday that U.S. trade deficit jumped 23 percent in April to a six-month high of 74.6 billion U.S. dollars, further dampening gold.

Silver for July delivery fell 14.10 cents, or 0.60 percent, to close at 23.529 dollars per ounce. Platinum for July delivery fell 14.10 dollars, or 1.36 percent, to close at 1,024.60 dollars per ounce.

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“The F-35 delivers unsurpassed capability to our warfighters and operational commanders,” said Air Force Lt. Gen. Mike Schmidt, program executive officer, F-35 Joint Program Office. “This contract strikes the right balance between what’s best for the US taxpayers, military services, allies and our foreign military sales customers. The F-35 is the world’s premier multi-mission, 5th-generation weapon system, and the modernized Block 4 capabilities these new aircraft will bring to bear strengthens not just capability, but interoperability with our allies and partners across land, sea, air and cyber domains.”

The agreement includes 145 aircraft for Lot 15, 127 for Lot 16, and up to 126 for the Lot 17 contract option, including the first F-35 aircraft for Belgium, Finland and Poland.

Lot 15-17 aircraft will be the first to include Technical Refresh-3 (TR-3), the modernized hardware needed to power Block 4 capabilities. TR-3 includes a new integrated core processor with greater computing power, a panoramic cockpit display and an enhanced memory unit.

These aircraft will add to the growing global fleet, currently at 894 aircraft after 141 deliveries in 2022. The F-35 team was on track to meet the commitment of 148 aircraft as planned; however, due to a temporary pause in flight operations, which is still in effect, necessary acceptance flight tests could not be performed.

The finalized contract caps off a year of the F-35 delivering combat-proven airpower around the world and continued international growth. This year, Finland, Germany and Switzerland signed Letters of Offer and Acceptance (LOAs) as an important step in their procurement of F-35 aircraft.

F-35 program participants currently include 17 countries. To date, more than 1,870 pilots and 13,500 maintainers have been trained, and the F-35 fleet has surpassed more than 602,000 cumulative flight hours.

The post Contract for Production and Delivery of 398 F-35s to Finland, Germany and Switzerland Finalized appeared first on Policy Print.

Azerbaijan delivered the first quantities of natural gas to Romania in January, and the two state-run companies will sign a contract for new deliveries starting with April, Romanian President Klaus Iohannis said on Thursday after a meeting with his Azeri counterpart, Ilham Aliyev.

Romania will continue to work with Azerbaijan on multiple energy projects, such as the Southern Gas Corridor – an EU initiative to secure a natural gas supply route from Caspian and Middle Eastern regions to Europe – and on the submarine power cable in the Black Sea that works to deliver green energy produced in the Caucasian region.

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