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While many of the headlines in the global economy are negative, the news is not all negative. For instance, the Biden administration is stepping up efforts to reduce methane emissions from oil fields. Nevertheless, it’s worth noting that the European Commission’s autumn forecast predicts lower economic output in the fourth quarter of this year. Meanwhile, Canada’s foreign minister has warned against China’s disruptive policies.
Social responsibility (CSR) is a growing concept in business today. Companies are increasingly aware of their responsibility to their communities, employees, and the environment. For example, Johnson & Johnson has focused on reducing its impact on the environment for three decades. It has undertaken initiatives ranging from harnessing the power of wind to providing clean water to communities. It has also committed to pay equity by conducting a diversity audit and introducing a global salaried pay ratio that takes into account gender and race.
The collapse of FTX has set off a reckoning on risky cryptocurrency practices. Cryptocurrencies were originally developed as a corrective measure to the 2008 financial crisis, but this bankruptcy will almost certainly lead to months, if not years, of legal fallout. Already, the company is the target of investigations by the SEC and the Justice Department. These investigations have focused on whether FTX improperly used customer funds.
Aus Pie Co
The Australian Pie Company has been in business for 25 years and has managed to stay true to its original vision and values. Their business philosophy centers on customer service, quality and process. Their success is an inspiration to other pie-centric restaurants across the world. In addition to producing and selling pies in their own restaurants, they have expanded their operations by selling their pastries in supermarkets. A recent acquisition was the result of the company buying the Mrs. Mac’s Pie Company from the former owner of the company.
FTX agreed earlier this week to sell itself to bigger rival Binance
Following the public announcement that it would be acquiring FTX, the crypto exchange plunged into chaos. Its customers reported having trouble withdrawing money from the exchange in the past 48 hours, and its stock plunged to $3 from around $20.