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News & Policy

BABC member HSBC releases article on Market Risk Management: What treasurers need to consider during

Corporate treasurers considering COVID-19 hedging strategies are facing a complex set of challenges. There is no bigger focus for corporate treasurers these days than managing the impact of COVID-19 on their organization. And while cash is likely to be king for most companies currently, both their current hedge book and future strategy to manage market risks have risen in importance as well, explains Holger Zeuner, Head of Thought Leadership EMEA within HSBC’s Global Markets Corporate Sales team. What makes hedging so difficult in the current environment? There are four factors coming together on this: first, the economic outlook for businesses has become highly uncertain, making the volumes

BABC member Moore Kingston Smith shares insights into the 'reduction in the VAT rate: flat rate

In line with the temporary reduction in the VAT rate to 5% for certain businesses in the hospitality sector, the flat rates for smaller businesses have also been reduced. The VAT flat rate scheme is designed to simplify accounting records of sales and purchases, and the steps necessary to calculate VAT liabilities. It allows for a fixed flat rate percentage to be applied to gross turnover to arrive at the VAT due. Read the full article.

Global mobility survey: Your participation welcomed by July 31

BABC member Moore Kingston Smith is collecting feedback to understand your experience with and response to global mobility since the Coronavirus crisis started. This will help the company share unique insights and guidance on how to support your decisions on international cross-border employment arrangements. The results will be shared with all respondents. To participate, please complete the short survey that will take less than ten minutes before Friday, July 31. Learn more and participate.

BABC member Delta Air Lines teams up with RB, the maker of Lysol®, to advance Delta CareStandard and

Delta is partnering with RB, the makers of Lysol®, to drive greater confidence in travel by innovating cleaner more hygienic experiences for customers and employees, alike. The partnership will pair Delta’s strength in safety and operational rigor with Lysol’s 130 years of germ-kill expertise and innovation to continue improving upon Delta CareStandardSM protocols launched during the COVID-19 pandemic across Delta airport locations and on board our aircraft. Keeping surfaces clean is one of the areas the Delta CareStandard focuses on, along with giving travelers more space, cleaner air and providing safety and personal care from check-in to baggage claim, and every point in between. Read the

BABC member Boeing Advances Environmental Leadership

CHICAGO, July 23, 2020 /PRNewswire/ -- Boeing [NYSE: BA] today released its 2020 Global Environment report, highlighting how the company is sustainably designing and building products, while conserving resources and reducing waste across its global operations. The company has set ambitious 2025 environmental goals – which include significant reductions in emissions, waste, and water and energy consumption – and made solid progress toward these targets in 2019. "Our ongoing commitment to environmental sustainability is important to our overall strategy," said Greg Smith, Boeing executive vice president of Enterprise Operations, chief financial officer and interim leader of Communications. "In

Northwest Aerospace Magazine's 2021 Aerospace Resource Guide: Reserve Your Listing

x-tinymce/html Reach thousands of aerospace professionals for a few hundred dollars in the Northwest Aerospace News magazine's Aerospace Resource Guide. The guide will be included as part of their December/January 2021 edition of the publication. The 2021 Guide mails both in print and digital to 7000+ aerospace professionals worldwide and includes a hotlink to your website in the digital version for a complete message to potential partners. A growing number of Tier 1 and OEM's have indicated they are using Northwest Aerospace Magazine for just this purpose. With 'in-person' trade shows on the decline, this is a very inexpensive, yet impactful way to get your company's information in the hand

From Transactions to Experiences: BABC member Teague Shares Survival Skills for Digital Disruption

In the early to mid-2000s, the retail landscape was a constellation of fallen stars, lagging brands that stalled, consolidated, or fizzled out. From the moment in 1994, when Jeff Bezos founded Amazon in his garage, business changed forever. With algorithms making smarter product suggestions, strategic flexibility, and devotion to user experience, Amazon became the gold standard—the new standard—for the retail experience. Unlike brick and mortar organizations, Amazon could innovate, iterate, and to an unprecedented extent, prioritize customers. The retail industry, as we knew it, was torn apart. Ecommerce became retail’s main storefront. Today, no industry is immune to disruption. As a pandem

BABC member Moore Kingston Smith Shares Insights on "Global mobility: EU posted workers enforce

The EU’s posted workers directive is coming into full effect on 30 July 2020. Most companies do not understand their obligations and responsibilities in this new compliance environment. This leaves some businesses potentially exposed to penalties for administrative failures. The UK has yet to fully embrace the scheme but UK employers need to review how they are affected when sending people to EU member states. The original EU posted workers directive was designed to ensure workers moving across Europe have the same rights and living conditions as those living and working in the location of their secondment. Subsequent enforcement directives require these conditions to be implemented by the m

Captain Sir Tomas Moore: Making a Difference & Making Headlines

Captain Sir Tom Moore was knighted at Windsor Castle in the Queen's first official in-person engagement since the beginning of the lockdown. After the ceremony, Sir Moore commented: "Never ever did I imagine that I should get so close to the Queen and have such a kind message from her." We all need a little lift here and there and Captain Sir Tomas Moore has been generous enough to share some inspiration across the globe.

BABC Partner, the BBS, Shares Conversation on Guidance for Traveling to the UK During the Coronaviru

BBS President Charles Cockerton and Executive Director Jenn Baker sat down for a conversation with BBS Business Member Karen Beale from Trinity House Paintings. Karen has traveled to the UK several times since late 2019. She discussed her experiences with Charles in the hopes of providing some guidance and comfort for those who are considering traveling to the UK during this time. Karen also shared her guidance and tips, with a Shakespeare twist, that she used in order to navigate the entire process. Members have been looking for answers and practical information about the Coronavirus, and we hope that you will find the conversation and our BBS members' experiences useful.

BABC member Port of Portland Announces PDX Opens Concourse E Extension, First New Gates at Airport i

On July 15 BABC member Port of Portland marked the opening of six new gates in the Concourse E extension, the new home of Southwest Airlines at Portland International Airport. More than 2,000 builders spent over 1,500 days bringing the 830-foot building to life. The Concourse E extension is designed to both reflect the urban landscape of the city and frame classic views of the region. The interior space features new gates, new shops and dining, curated artwork and comfortable spots to relax and recharge. Architectural highlights include high ceilings and a sweeping wall of windows showcasing Mt Hood. Read the full story.

BABC Partner, the WA Council on International Trade, Releases their updated 2020 Trade Policy Agenda

BABC partner, the WA Council on International Trade, has released their their updated 2020 Trade Policy Agenda. The agenda covers the top eight issues facing trade-active Washingtonians shaping our state's economy. The 2020 Trade Policy Agenda summarizes the issues, shares specifics on WCIT's policy positions, and provides links to our related research. Access WCIT's 2020 Trade Policy Agenda.

Priti Patel sets out post-Brexit immigration plan - including health and care visa

Courtesy of BBC News A fast-track health and care visa has been unveiled as part of the UK's plans for a points-based immigration system when freedom of movement with the EU ends in January. Home Secretary Priti Patel said employers would be encouraged to invest in workers from within the UK. But the new system, she added, would also allow them to "attract the best and brightest from around the world". Unions have expressed concerns that the visa will exclude social care workers. The health and care visa will be open to workers who have a confirmed job offer in one of a series of "skilled" roles within the NHS or care sector - or for NHS service providers, such as doctors, nurses, radiograph

How to Make Trade Work for Workers: Charting a Path Between Protectionism and Globalism

Courtesy of Foreign Affairs By: Robert E. Lighthizer The new coronavirus has challenged many long-held assumptions. In the coming months and years, the United States will need to reexamine conventional wisdom in business, medicine, technology, risk management, and many other fields. This should also be a moment for renewed discussions—and, hopefully, a stronger national consensus—about the future of U.S. trade policy. That debate should start with a fundamental question: What should the objective of trade policy be? Some view trade through the lens of foreign policy, arguing that tariffs should be lowered or raised in order to achieve geopolitical goals. Others view trade strictly through th

Snohomish County Aerospace Grant for Workforce Training

APPLICATIONS DUE JULY 17, 2020 Workforce training grant supports the County’s leadership in aerospace SNOHOMISH COUNTY, Wash., July 9, 2020 – In recognition of the profound impact COVID-19 has had on the aerospace industry and its workforce, Snohomish County today launched a grant program for customized, short-term training, the Aerospace Employment Recovery & Training Program (AERO-ERTP). This program aims to increase the resiliency of local businesses and to facilitate the hiring or retention of furloughed workers. “This program supports Snohomish County’s world-class aerospace workforce through training and education programs,” said Snohomish County Executive Dave Somers. “This training w

BABC member Microsoft reimagines virtual collaboration for the future of work and learning

As the global response to COVID-19 evolves, communities around the world have moved from an era of “remote everything” into a more hybrid model of work, learning, and life. And as we all scramble to keep up, the future of work and education is being shaped before our eyes. BABC member Microsoft has spent the last few months learning from its customers and studying how they use their tools. They've also worked with experts across virtual reality, AI, and productivity research to help understand the future of work. These findings, which are published here, guide them as they design technology to help customers today and in the future. Yesterday, Microsoft announced a set of new features in Mic

BABC member Amazon promotes a more sustainable future through Amazon Air

Amazon Air has secured up to six million gallons of sustainable aviation fuel (SAF) supplied by Shell Aviation and produced by World Energy. Amazon’s commitment to The Climate Pledge means that we are focused—first and foremost—on decarbonizing our operations and sending strong signals that we are in need of new solutions and technologies to help accelerate our path to net zero carbon by 2040. Air cargo is an important part of Amazon operations, but also a highly carbon-intensive part of the global supply chain. Finding sustainable alternatives and working with all industries to accelerate the transition to more sustainable products and services is one of the most important, yet challenging,

BABC member Teague shares "Insights to Accelerate Our Return to Air Travel"

Recovering from 2020’s pandemic catastrophe is an uphill battle for the aviation and airline industries. Sure, scientific evidence is guiding health and safety improvements, and border restrictions will eventually ease, but further changes are needed to make passengers feel safe. A transactional relationship is no longer enough. Airlines must connect with their customers to truly understand their anxieties and perspectives on taking to the skies again. Teague’s Flying Aces program is gathering these ground-level insights. Read the article & learn more about the Flying Aces program & how you can participate.

UK unveils back-to-work bonus scheme and restaurant discounts for all citizens

Courtesy of CNBC U.K. Finance Minister Rishi Sunak has announced a back-to-work bonus scheme for businesses bringing furloughed employees back to work, and a 50% restaurant discount for all citizens through the month of August. In a de-facto “mini-budget” unveiled Wednesday, Sunak told the House of Commons that the jobs retention scheme, which has subsidized wages for 9.3 million furloughed workers, will be tapered down to end in October. Businesses will receive £1,000 ($1254.55) bonuses per furloughed worker retained through January earning at least £520 per month. Read the full article. Photo: Chancellor of the Exchequer Rishi Sunak leaves 10 Downing Street after attending a Cabinet meetin

BABC Member Moore Kingston Smith Releases their Summer Economic Update 2020

BABC member Moore Kingston Smith has released their Summer Economic Update 2020. The summer economic update had the feel of a mini-Budget, with the Chancellor announcing a number of new measures as part of his “plan for jobs”. The £160 billion spent by the Treasury so far on Coronavirus-related measures has constituted the first “protection” phase of the government’s response to the virus. The Chancellor told us that we are now in the second phase, in which the government will focus on supporting people to find jobs and on giving businesses incentives to create and protect jobs. The third “rebuild” phase will follow. Read the full update and watch the video.

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Moore Kingston Smith is a dynamic, leading UK firm of accountants and advisers to businesses which range from entrepreneurial start-ups through to large international groups. The firm is a leading member of Moore Global, a worldwide accountancy and consulting network of more than 260 firms, helping to navigate the complexities and opportunities of business on local, national and international levels. Moore Kingston Smith has a dedicated North America Group of international expansion specialists that have been supporting both UK companies planning to expand to North America and businesses from across the Atlantic looking to enter the UK market for over three decades.

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