Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
EX THERANOS BOSS HOLMES JAILED FOR OVER 11 YEARS FOR FRAUD
The former CEO of US medtech company Theranos, Elizabeth Holmes, has been sentenced to 11 years and three months imprisonment plus three years of supervised release once she leaves prison, after being convicted in January of four counts of fraud and conspiracy.…
CRYPTO FRAUD LEAPS 32% IN YEAR IN UK TO HIT GBP226 MILLION
The value of crypto fraud losses leapt 32% in a single year to hit GBP226 million (USD269.75 million) in the year to September 30 (from October 1, 2021) from GBP171 (USD204.1 million) year-on-year, according to the latest data released by international law firm Pinsent Masons LLP.…
INFLATION AND ENERGY CRISIS POSING UNPRECEDENTED CHALLENGES TO GERMANY’S BEER SECTOR
Germany’s estimated 1,300 breweries are leaving the Covid-19 pandemic behind only to find themselves faced with skyrocketing energy prices and the affiliated rapid consumer price inflation. Several of large German brewery groups have already raised their prices to compensate for their past Coronavirus losses, and a second wave of price increases has recently been announced for early 2023.…
COVID-19 FRAUD BOOM CONTINUES AS RECESSIONS FUEL DISHONESTY
Fraud has spiked since the outbreak of Covid-19 and is still on an upward trajectory as economies struggle to rebound from the pandemic, according to research by Grant Thornton and the US-based Association of Certified Fraud Examiners (ACFE). One of the biggest growth areas in fraudulent activity, according to the American Bankers Association (ABA) is related to the exploitation of the elderly, particularly in ageing societies such as the USA, Europe and the east Asia.…
ETHIOPIA LOOKS FOR ALTERNATIVE EXPORT MARKETS TO OFFSET EFFECT OF AGOA BAN
The textile and fibre sectors of Ethiopia have been looking to expand domestic sakes as Ethiopia approaches one year anniversary of its exclusion of the USA’s Africa Growth and Opportunity Act (AGOA). This process continues even as a new peace deal between the government and rebel Tigray forces is being rolled out, growing hope that Ethiopia may be readmitted to AGOA and its preferential US market access in 2023.…
INFLATION CAUSES HUGE FOOD PRICE HIKE BUT CANS WILL SURVIVE, SAY EXPERTS
WORLDWIDE inflation is impacting the can making industry and its supply chain partners. Indeed, metal packaging prices have risen by at least 25% this year, according to industry association FoodDrinkEurope. A key reason has been soaring prices for energy used in manufacture, up more than 50% in 2022 according to the World Bank.…
EUROPE’S HYDROGEN ECONOMY IS GROWING, WITH MAJOR INVESTMENTS BEING RELEASED
WHEN European energy experts consider the future of hydrogen as an energy source, assessments sound remarkably like comments made about wind or solar power in the late 1990s – it is a great idea, but it would help if production and processing were less expensive.…
EU/WTO REGULATORY ROUND UP – EU EXPLORES TOUGHER RESTRICTIONS ON NITROSAMINES IN FOOD AND DRINK
European Union (EU) food manufacturers are facing the potential imposition of new rules on the presence of nitrosamines in food products, following a European Food Safety Authority (EFSA) review that ended in November. EFSA has concluded that “it is highly likely that for all age groups dietary exposure to nitrosamines is above the level that could indicate a health concern”.…
MAJOR INTERNATIONAL POLICE AND PROSECUTOR ACTION BUSTS CROSS-BORDER SCRYPTO INVESTMENT SCAM
An international operation led by the European Union’s (EU) police and judicial agencies, Europol and Eurojust brought down the criminal gang behind a multimillion-Euro crypto investment scam. In a November 8 and 9 action day, raids on 15 call centres across eastern Europe – six in Albania, five in Georgia, one in North Macedonia and three in Ukraine – led to five arrests.…
AFRICA’S CLOTHING SECTOR EYES GROWTH POTENTIAL – BUT INFLATION AND RECESSION IS HAMPERING AMBITION
An African garment and textile sector rebounding from the Covid-19 pandemic has seen strong export growth in the first three-quarters of 2022 start to sputter through a tightening of retail demand in Europe and the United States. These remain Africa’s two primary export markets and their consumers are reducing spending as inflation and recession concerns grow.…