follow us on twitter @elitebizmag find us on facebook connect with us on linkedin google+ page

In the loop: Zuckerberg’s parliamentary grilling, gender diversity funding and the world’s most reputable CEOs

Written by Zen Terrelonge on Friday, 18 May 2018. Posted in Insight, Analysis

There’s a royal wedding happening this week, Instagram is clamping down on users and female founders are being overlooked for investment in favour of lining men’s pockets – though the latter stands to change

In the loop: Zuckerberg’s parliamentary grilling, gender diversity funding and the world’s most reputable CEOs

Mark Zuckerberg to face European parliament

Theresa May’s summons to the billionaire boss behind Facebook following the Cambridge Analytica data disaster may have fallen on deaf ears but the EU parliament’s invitation to Mark Zuckerberg has seemingly been accepted, effectively leaving the UK’s prime minister out in the cold not once but twice.

The social media mogul could appear in Brussels during the week commencing Monday May 21, answering questions relating to the personal details of millions of its users in the same way he did when attending US congress. However, the key difference between this and the hearing in front of the US congress is that the Zuck will reportedly be grilled behind closed doors away from the spotlight accompanying him Stateside, which has led people to complain.

They’ve got a point – why does he get the perks of privacy when so many who had data snatched did not?

Fund dedicated to gender diversity launches

A move from Legal & General Investment Management (LGIM), the asset manager and investor, could make a lot of businesswomen very happy. The firm has launched a new Gender in Leadership (GIRL) fund dedicated to backing UK listed businesses based on their gender diversity. For example, with four measures including women on the board and female executives, those seeking cash from the GIRL fund will need at least 30% across the targets.

Commenting on the fund, Helena Morrissey, head of personal investing at LGIM, said: “Gender inequality is one of the key issues of our time – and one that generates so much frustration. Rather than feeling trapped or despondent, let’s do something about it. I’m excited about the launch of the GIRL Fund, which empowers us all to use our money to help companies to progress. When we invest in the success of women, we are investing in the success of business. Collectively, we can help achieve gender equality and improve gender diversity in the UK.”

It’s encouraging to see LGIM make a move like this, especially in the wake of news that female founders raise just 44p to every £1 secured by male counterparts.

And the most reputable CEO in the world is…

No, it’s not Mark Zuckerberg. It’s actually Google’s Sundar Pichai, according to Reputation Institute, the reputation intelligence service. The findings were revealed in the inaugural CEORepTrak study, with Pichai hailed for “responsible leadership” and “fiscal, social and environment responsibility”.

Taking the top spot is quite the accolade for Pichai, as the research was taken from 28,000 ratings across the G15 territories. Additionally, he saw off competition from the likes of Giorgio Armani, as well as the CEOs of Nintendo, LinkedIn and InterContinental Hotels.

Commenting on the findings, Stephen Hahn-Griffiths, chief reputation officer at Reputation Institute, said: “The rubric for what it takes to be a great leader is quickly shifting. There is a new era emerging. To be relevant as a contemporary leader today, you need to be a CEO with conscience.”

So there you have it – it pays to listen to the winged conscience on your shoulder and not the red horned one.

PayPal makes iZettle part of the family for $2.2bn

In a move that allows it to gain in-store access, US transactions titan PayPal has acquired Sweden’s iZettle, the payments service provider dedicated to helping small businesses, in a $2.2bn deal. It comes just a month after iZettle expanded its predominantly real-world service to digital with the introduction of e-commerce stores.

Through the deal, PayPal will secure store access across 11 markets including Brazil, France, Italy, Mexico, Spain and Sweden. After completion, iZettle CEO Jacob de Geer will continue to steer the business forward while reporting into PayPal COO Bill Ready.

“Small businesses are the engine of the global economy and we are continuing to expand our platform to help them compete and win online, in-store and via mobile,” said Dan Schulman, PayPal president and CEO. “iZettle and PayPal are a strategic fit, with a shared mission, values and culture—and complementary product offerings and geographies.”

Seemingly this is yet another step towards the cashless society that we continue to hear so much about.

The work issues impacting the mental health of employees and employers

A survey of 540 British employees revealed that over two-thirds  were stressed on the job for at least a week within the past year. Additionally, a fifth of respondents had been off work due to stress. But employers are also feeling the burn of work.

Dealing with the always-on culture cutting into personal time

In keeping with wellbeing of the mind, a worrying trend of being always-on has arisen, which is leaving blurred lines around where the working day ends and personal time begins, and it’s causing mental health risks. So how are bosses supporting staff?

50 Cent retaliates against Instagram after revenge porn block

Having posted content that breached Instagram’s terms of use, rapper 50 Cent had the reportedly pornographic material removed from his page, which led him to turn to Twitter. And interestingly, startup leaders can take more than Just a Lil Bit away from the situation.

Beware this big business blunder

Starting a company is undoubtedly incredibly exciting but one entrepreneur reveals the main mistake that rising business owners make on the way to shake up industries with their propositions.

Time out for Instagram?

If you’re reading this 50 Cent, look away now. Following the rapper’s complaints about censorship, it’s rumoured that Instagram could now be setting time limits on user activity. Where will that leave businesses marketing on the platform though?

Capitalising on the royal wedding 

With Prince Harry to follow in his big brother’s footsteps this weekend by settling down, his marriage to Meghan Markle will be watched by millions around the world. And speaking of millions, UK businesses stand to make a pretty penny from the big day. Cheers to that!

About the Author

Zen Terrelonge

Zen Terrelonge

As web editor, Terrelonge can be found combing the internet for all things startup – that's when he's not busy talking babies via DADult Life. Whether it's health or hospitality, food or philanthropy, tech or travel, he'll be seeking out the most interesting entrepreneurial developments to run online.

Proud Partners

Strategic Media Partners

Event Media Partners