Daily Market Update - November 25, 2014

‘No more fossil fuels’ says Obama’s climate change envoy… International poll reveals growing fear over internet privacy… Business travelers warned of increase in ‘recline rage’…

Risk Management News

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‘No more fossil fuels’ says Obama’s climate change envoy
If we are to tackle global warming then we may have to leave fossil fuels in the ground. That was the message from President Obama’s climate change envoy on Monday. Todd Stern said that reserves of oil, gas and coal would have to stay in the ground and noted that “companies and investors are going to be starting at some point to be factoring in what the future is for fossil fuel.” With the US and China now broadly in agreement and a consensus growing in much of the world about measures that need to be taken businesses should be assessing how to make changes in their own time before regulations force changes.
 
International poll reveals growing fear over internet privacy
Consumers are increasingly concerned about their privacy online according to a new study. The CIGI-Ipsos Global Survey on Internet Security and Trust highlights the importance that businesses that process customer information online do so in a secure manner and communicate that level of care to their customers or clients. The poll was carried out from October 7 to November 12 in 24 countries including Australia, Canada and the US. It found that 64 per cent of respondents were more concerned about their privacy online now than they were a year ago. While 37 per cent say they share information with private companies online all the time and “it’s no big deal” 74 per cent are concerned about companies monitoring their online usage and selling that information for commercial purposes. Compared to a year ago 43 per cent avoid certain websites and change their passwords more frequently.
 
Business travelers warned of increase in ‘recline rage’
No it’s not April 1, there is a reported increase in incidents of airline passengers getting into disputes with other passengers over the issue of reclining seats. For the passenger wanting to recline they believe that they have every right to recline when as a far as they wish, while the passenger behind them believes that it’s their space that’s being infringed. There is added fury at those that have taken to using the Knee Defender, a device that fixes to an airline tray table and prevents the seat from being reclined. Although less of an issue in business class than economy it does highlight potential risks when employees are traveling on business. The reclining seat debate is just one of a number of potential hazards for travelers and guidance for staff is good practice for businesses. 

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