Sunday 24 September 2017

Eurowide push for female directors

THE European Parliament has ratified a proposal that will require listed EU companies to have 40pc of director positions filled by women by January 2020, and in some cases even earlier.

"The sanctions applicable to companies who do not comply with the legislation are sufficiently dissuasive and progressive and will ensure transparency in companies' recruitment, selection and appointment procedures," said Independent MEP Marian Harkin.

WEB RETAILERS LOSE €20M TO FRAUD

ONLINE Irish companies lose at least €20m to credit card fraud every year, according to the Irish Payment Service Organisation.

Research partly attributes this to the lack of a postcode structure in Ireland, since this makes it impractical for Irish retailers to check that a purchaser's address is the same as the address associated with their bank account.

MORE PROTECTION FOR ONLINE TRAVEL

TRAVELLERS buying package holidays online could soon enjoy improved legal protection.

The European Commission is proposing to reform the laws in this area so that people are covered if they book on the internet, even through several different companies.

BOOST TO CAPITAL REQUIREMENTS

US REGULATORS may boost capital standards at the biggest US lenders above global requirements.

Capital reserve standards would rise to 5pc of assets for parent companies and 6pc for their banking units under a plan proposed yesterday by federal regulators. This goes beyond rules approved in 2010 by the 27-nation Basel Committee on Banking Supervision to prevent a repeat of the 2008 crisis that almost destroyed the financial system.

BIG US BOOKSELLER FACES BREAK-UP

IT LOOKS increasingly likely that Barnes and Noble, the largest US bookstore chain, will be broken up after its chief executive officer resigned and it named a manager with a history of spinning off units to its most senior position, according to analysts.

Barnes and Noble is considering splitting up its businesses after chairman Leonard Riggio said in February that he planned to make an offer for its 680 stores and website.

Irish Independent

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