Trust Digest 45 (April 1, 2014)


How Sevenly Became America's Most Social Small Business
This month, Mashable announced Sevenly as the winner of America's Most Social Small Business. The three-year-old social good apparel company has gone from a closet office with four employees to a 33-person operation that's raised more than $3 million for charities around the world. Read on to learn how Sevenly harnessed the power of social media to change the way people think about — and wear — charity.
Key Words: Social Responsibility
Trust Issues: Responsibility, Benevolent Concern


Swissness is Not Enough
Like their country’s watchmakers, Swiss banks have enjoyed a reputation for quality, reliability and watertight discretion. But since 2008, spectacular coups by neighbouring countries’ tax authorities and investigations by America’s Department of Justice have torn at their reputation. Now they are trying to rebuild one as squeaky-clean money managers.
Key Words: Swiss Banks, Trust
Trust Issues: Responsibility, Reputation


'Trust Me' Isn’t Good Enough for Stress Tests
The U.S. Federal Reserve has surprised investors by concluding that one of the country's biggest banks, Citigroup Inc., doesn’t have an acceptably good grasp of its own finances. Until the Fed explains its reasoning, one is bound to wonder: What makes it so sure the others do?
Key Words: Stress Tests, Citigroup, The Federal Reserve
Trust Issues: Communication, Competence, Regulation


U.S. Must Win Back Trust on Intelligence Gathering, Obama Says
Saying that U.S. intelligence agencies have to "win back the trust, not just of governments but more importantly of ordinary citizens," President Obama confirmed that he will propose to Congress that the National Security Agency no longer have the authority to collect and hold years' worth of telephone calling records.
Key Words: Trust, NSA, Transparency
Trust Issues: Transparency, Reputation, Regulation


Alstom Said to Face Wider Bribery Probe and Record Fine
The Justice Department is building a bribery case against Alstom SA (ALO), the French maker of trains and power equipment, that is likely to result in one of the largest U.S. anticorruption enforcement actions, according to two people with knowledge of the probe.
Key Words: Alstom, Corruption
Trust Issues: Corruption, Regulation


South Africa Mining Strike Damage is 'Irreparable'
Leaders of South Africa's platinum mines have said the nine-week long strike by workers has caused 'irreparable' damage and has cost the sector nearly $1bn. Miners at Anglo American Platinum, Lonmin, and Impala Platinum want their pay to be doubled. But the companies said they cannot afford to meet the workers' demands.
Key Words: Platinum, Strikes, Mining
Trust Issues: Stakeholders, Communication


Michael Lewis, 'Flash Boys,' and '60 Minutes'
Michael Lewis gave an interview to "60 Minutes" ahead of the publication of his book, "Flash Boys." He alleges that the stock market is "rigged" by a cabal of high frequency traders, stock exchanges, and Wall Street firms. He alleges that a lone fellow, a trader named Brad Katsuyama, figured this out and formed a new exchange, IEX, to combat abuses perpetrated against the investing community.
Key Words: Flash Boys, Michael Lewis, Wall Street, High Frequency Trading, Front Running
Trust Issues: Corruption, Accountability


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