Tesco reprimanded over treatment of suppliers

first_imgSupermarket giant Tesco will be censured by the Groceries Code Adjudicator (GCA), following a year-long investigation into its payment terms.Britain’s biggest retailer breached the Groceries Supply Code of Practice by delaying payments to suppliers and demanding extra fees, according to the findings of a year-long investigation.The allegations stated that Tesco delayed payments to suppliers and demanded payments from businesses for more prominent positioning of their products within stores. Tesco has admitted there are likely to have been instances where it breached the Code of Practice.In its annual report, Tesco said: “Regrettably, we have concluded that there have been a number of instances of probable breaches of the Code, which fall short of the high standards we expect to uphold in our dealings with our suppliers.”In September 2014, Dave Lewis, Tesco’s chief executive, revealed that a shortfall had been found in the retailer’s accounts relating to payments from suppliers. Tesco was accused of bringing forward payments to flatter its financial results. The company suspended nine executives, and chairman Sir Richard Broadbent left in the aftermath of the scandal.But the GCA cannot fine Tesco for the results of this investigation, because the offences were allegedly committed before the government handed the GCA the power last year to fine a company up to 1% of its annual revenue. The investigation is the GCA’s first since it was launched in 2013.Good for small businessesTracy Ewen, managing director of IGF Invoice Finance, said: “The news that the GCA will reprimand Tesco over its treatment of suppliers is good news for small businesses in the UK. For many in the supply chain, Tesco’s payment terms have been unsustainable due to delays in payments and unexpected changes in contract terms.“This is a reality that SMEs [small and medium-sized enterprises] have had very little power to change in the past; the GCA stepping in to censure Tesco over its behaviour is a step forward in helping small businesses tackle the constant stream of unfair payment terms coming from large corporations.”Tesco announced last year that it planned to simplify its payment terms, however these will not be brought into effect until June.She added: “Suppliers have been left waiting for the news of the Small Business Commissioner, which was promised as part of the Enterprise Bill, so substantial support from government is still uncertain. In the meantime, there are options available to smaller suppliers to cover the gap between completed work and money in the bank. Businesses must ensure to make use of any free financial advice available, before pressure from larger customers impacts their growth or operations.”There is no direct link between this and the Serious Fraud Office (SFO) investigation into a £326m accounting scandal at Tesco, which is nearing its completion. The retailer could face a fine of up to £500m for this, according to City analysts.Tesco, the SFO and the GCA declined to comment. Tesco’s share price dropped by almost 3% on 25 January.last_img read more

Quick Hits: Historic Bill mandating 100 percent renewable power by 2032 + Vote Delayed for Dominion Pipeline air Permit

first_imgThe Virginia Air Pollution Control Board delays vote for Dominion Pipeline air permitOn Wednesday, the Virginia Air Pollution Control Board delayed their vote on the controversial Minor New Source Review Permit for the Atlantic Coast Pipeline Compressor Station in Virginia’s Buckingham County. If built, the 54,000 horsepower compressor station, which would be situated within a 120 yards of the homes of the rural, low-income, and historically African-American community of Union Hill, would run 24 hours a day while emitting sounds comparable to a jet engine. Similar facilities have also been found to pollute the air with nitrogen oxides, carbon monoxide, volatile organic compounds and particulate matter linked to respiratory and cardiovascular ailments and cancer. The board has not yet set a new public comment period but a vote by the board will come after the comment period expires. Washington D.C. passes historic bill mandating 100 percent renewable power by 2032On Tuesday, city lawmakers in Washington D.C. voted unanimously to pass the Clean Energy D.C. Omnibus Act of 2018 requiring 100 percent renewable electricity in the city by 2032. The new legislation doubles Washington’s current mandate to get half of its energy from zero-emission sources like wind and solar by the same date and applies to federal government buildings including the White House. The legislation is expected to become law and will increase the fees on electricity from coal and gas as well as establish a task force to set aggressive energy-efficiency standards for existing buildings. The legislation also requires all public transportation and privately owned fleet vehicles with more than 50 passengers, including services like Uber and Lyft, to emit zero carbon dioxide by 2045, which aligns with California’s new auto emissions target. Georgia Biologist Honored for longleaf pine preservationGeorgia Department of Natural Resources’ senior biologist Nathan Klaus has been named The Longleaf Alliance’s Bill Boyer Natural Resource Professional of the Year. The award honors efforts to conserve longleaf pine ecosystems. Klaus earned the award after helping to restore 12,000 acres of longleaf in and around Sprewell Bluff Wildlife Management Area in Upson County, promoting prescribed fire, and studying topics such as the mixes of site-prep herbicides that best preserve forest-floor vegetation vital to longleaf habitats. Klaus has spent most of his 19-year career working in the field for the Department of Natural Resources and says that his next goal is to see red-cockaded woodpeckers, endangered birds last documented in the Pine Mountain area over 30 years ago, return to fly among the longleaf. “It’s a tight window to achieve this in my time left,” Klaus said, but he’s hopeful. last_img read more

Senior Marrow prepares to play ACC schools she grew up following

first_imgDuring a team conference call after practice in fall 2011, Aleah Marrow heard news she wasn’t expecting.While the Syracuse tennis team was gathered at Drumlins Country Club, SU head coach Luke Jensen announced over the phone that the Orange would move to the Atlantic Coast Conference starting in the 2013–14 season.“I couldn’t believe it,” Marrow said. “I was in shock.”Jensen’s players knew that moving from the Big East provides an opportunity to play better competition and nationally ranked teams regularly. But for Marrow, who has won 61 percent of her career matches, moving to the ACC meant something more.Marrow, who grew up in Durham, N.C., will have the chance to play against teams that she has followed her whole life — especially North Carolina, Duke and North Carolina State.AdvertisementThis is placeholder text“Those are extremely competitive schools,” Marrow said. “Growing up, watching them compete against each other was awesome. I was a Carolina fan growing up, so going back there to play there is awesome. I’m excited.”Marrow was originally recruited by North Carolina, making the connection even more personal. However, it was Jensen and his coaching staff that emphasized molding players into professionals that helped woo her to Central New York.Years later, though, Jensen said he still understands how meaningful her ties to her home state are.“Aleah has a unique opportunity because she grew up in the conference,” Jensen said. “She grew up surrounded by the ACC country, the ACC Tobacco Road aura, the legend, all that stuff.”Syracuse will open its ACC schedule in Raleigh, N.C., against North Carolina State on Feb. 21. Two days later, Marrow will return to her hometown of Durham when Syracuse faces Duke on Feb. 23.Currently, eight teams from the ACC rank inside the Top 25. Competing against tougher competition and more ranked teams than in years past is one of the challenges the Orange will face this season.Jensen said he believes the biggest difference between the Big East and ACC is confidence. Though the competition may be tough at first, Jensen hopes that the effects will ultimately pay dividends for the Orange.“You walk around with a confidence,” Jensen said, “and I think what’s neat for us, is that we get to join that conference and be proud of that conference, represent that conference and start to don that same identity.”Marrow’s connection is something the entire team can rally around, said co-captain and senior teammate Maddie Kobelt. Marrow’s emotions toward some of the ACC teams could spill over to the rest of their teammates, she said. The entire team gets energized when it plays opponents from a teammate’s hometown.Jensen emphasized how exciting the new opponents are, specifically for Marrow.“She’s kind of getting amped up and she’s really looking forward to it,” said Jensen. “I know she’s been just giddy about it.”Marrow will now have a chance to play North Carolina and Duke after years of closely following them. “I’m trying to go in and beat them,” Marrow said. “Take them out.” Comments Published on January 29, 2014 at 12:54 am Contact Paul: [email protected] | @pschweds Facebook Twitter Google+last_img read more

Hyena Threatens Finito With Demolition

first_imgSpeaking in Lagos yesterday, Hyena said he is looking beyond Afinni, whom he intends to use as a stepping stone to bigger things, including the national lightweight cruiserweight title.“I am in camp and as you can see, I have been training really hard for the fight. I am not called Hyena for nothing. I will eat up Afinni. He calls himself Finito. That means he would be finished off. He is just another opponent I have to dismiss quickly, as I aim for the national, West African, African and world cruiserweight titles. I know that he is handsome, but my goal is to mess up his handsome face,” raved Hyena.The headline bout at the event will see Nigeria’s Waidi “Skoro” Usman take another stab at the African Boxing Union (ABU) featherweight title when he takes on Kenya’s Michael “Shaka” Nywade. The Nigerian’s previous attempt ended in defeat to Uganda’s Edward “Shaka” Kakembo in December 2015.Also seeking a title is Rilwan “Baby Face” Babatunde, who takes on Djossou “Agoy” Basile of the Republic of Benin in the West African Boxing Union (WABU) welterweight title fight. Rilwan “Real One” Oladosu, winner of the best boxer award at GOtv Boxing Night 13, would seek to continue his meteoric rise by attempting to win the national lightweight title when he confronts Kazeem “Ijoba” Badmus.Another big star scheduled to be in action is the ABU and Commonwealth Africa lightweight champion, Oto “Joe Boy” Joseph, who faces the dogged Prince “Lion” Nwoye in a national challenge bout. The other fights will feature middleweight tyro, Chukuwebuka “Wize King” Ezewudo up against Semiu “Jagaban” Olapade, while Majesty Maduka will confront Sulaimon Adeosun.The best boxer at the event, to be beamed live by SuperSport in 47 African countries, will go home with a cash prize of N1million attached to the Mojisola Ogunsanya Memorial Trophy.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram GOTV BOXING NIGHT 14Razak “Hyena” Ramon, the rising cruiserweight boxer billed to face Abiodun “Finito” Afinni in a national challenge bout at GOtv Boxing Night 14, has threatened to do to his opponent what hyenas do to prey.Their highly anticipated clash is one of the seven lined up at the show, which holds at the Indoor Sports Hall of the National Stadium, Lagos, on 14 April.last_img read more