Ever wondered where the best places to business are? Well, fear not, because in an era where globalisation has made the world a smaller place than ever before CNN Money has snubbed the conventional top 10 and come up with a list of the top 12 global destinations for today’s intrepid modern executive.

And alongside the usual suspects of London , Shanghai and Hong Kong, there are some surprising entries and some interesting pearls of wisdom for those who travel there.

From a European perspective then, quite frankly, business travellers are spoilt for choice - Barcelona , Helsinki , Tallinn and Stockholm all feature on the list. Tallinn, the capital of Estonia and the home of Skype, could arguably be the most attractive of lot with the “silicon valley of the Baltics”, offering cheap transport, great food and readily available wi-fi.

Elsewhere, Tel-Aviv is perhaps the most surprising location on a list that also includes Tokyo , Singapore and Seoul. But if you’re looking for a cheap haircut (for less than a dollar you would be stupid not to) in a high tech, if slightly chaotic environment, then Bangalore could be the place for you.

The home of Infosys and Google’s research and development centre, is the base for many of the world’s top software engineers as well as offering some of the finest food on the Indian subcontinent. And with global sourcing trends showing no sign of slowing, those involved in procurement who have yet to experience its delights are likely to some time soon.

So whether it’s Latvia or India , South Korea or Sweden , if you’re off, make sure you log-on before you go.

The horse may already have bolted but Beijing is chasing it furiously in an attempt to get it back in its paddock.

After two weeks that have seen the ‘Made in China’ label come under scrutiny like never before, Chinese state media has today reported that senior officials are set to wage a four-month ‘war’ on tainted food, drugs and exports.

However, in the global sourcing game reputation counts for a great deal and when a company the size of Mattel started recalling such huge quantities of toys, the shockwaves could be felt from Seattle to Sydney.

In the US, Wal-Mart has already said that it intends to ask suppliers to resubmit testing documentation for the toys it sells in its thousands of stores across the globe – a move that will undoubtedly be followed by other retailers.

Chinese officials are now scrabbling around looking for way to regain some ground but surely they must fear that, with company’s tightening their quality controls, more scandals will follow before the turn of the year.

News conferences and countless news targets will only get you so far, and you can’t help but feel that for the ‘Made in China’ label, it could all be too little too late.

At the start of this year Andy Kyte, a leading analyst at Gartner, claimed that inflationary pressures would be one of the major challenges facing procurement over the next 12 months.

However, whilst the first eight months of 2007 have seen procurement dominated by issues surrounding risk and supply chain management, inflationary pressures in the eurozone have, up until now, taken a back seat.

Last week inflation in the UK dropped to 1.9% – a sharp fall on the 2.4% seen in June and the first time it has fallen below the Bank of England’s target rate of 2% since March 2006. Inflation in the eurozone followed suit, dropping to 1.8%, the lowest level seen this year.

So far so good then. However, a further statistical analysis by Eurostat, the statistical office of the European Union, suggests that tougher times could lie ahead.

‘Core inflation’ in the eurozone, to many a more accurate barometer of inflationary pressures, remained at 1.9% in July but jumped above the headline rate for the first time in three years, prompting fears that more interest rate rises could be on the way.

Despite the recent volatility in oil prices, and the apparent refusal of OPEC to take action, many analysts still believe that inflation will remain under the 2% barrier that has been the norm since the inception of the euro since 1999.

Whether this proves to be the case, or whether procurement executives will have to brace themselves for more price increases up until the turn of the year, only time will tell.

If you thought that making CSR a fundamental part of your procurement strategy was going to attract fresh new talent then you should think again. At least you should if the results of a recent US survey are anything to go by.

According to recruitment company Hudson, just 30 percent of US workers took into account a company’s CSR program into account when they were weighing up a job offer.

And only a paltry one in 10 of the 2,000 respondents said that they had rejected an offer based on the company’s CSR reputation.

All this despite 75 percent of those questioned believing that the companies attitude to the wider community was important, and almost half (46%) claiming that it was important for companies to have active CSR strategies in place.

However, those procurement executives with gaps to fill (and CSR programs to die-for) shouldn’t lose heart completely. Hudson ’s investigation does claim that employees working for companies with an exemplary record in CSR are far more likely to be positive, engaged and more productive than those working for less responsible employers.

Furthermore, among the 46 percent of workers who work for companies that promote CSR programs, nearly two-thirds actively participate.

After recent headlines it seems that many leading clothes retailers have two major battles to fight.

The first is to ensure that their supply chain is as ethically sound as possible – no easy task when the factories producing their wears are thousands of miles away (although not too far from the reach of news-hungry journalists) – and the second, and possibly most challenging is convincing the public that their ethical values are as set-in-stone as they say they are.

Last week a survey by the BBC highlighted just how testing the task facing them is.

According to the findings of TNS Worldpanel Fashion’s research involving 7000 consumers, almost half (45 percent) were cynical over claims from the retailers that worker abuse did not occur in their supply chains - hardly a ringing endorsement.

In the past month two of the UK ’s leading newspapers – The Sunday Times and The Guardian – have splashed front page leads concerning employee abuse in factories across South East Asia , with some of the UK ’s most prominent retailers coming under fire.

Tesco, Primark, Asda and Arcadia have all faced criticism over working conditions that, according to the newspaper’s investigations have led to many workers working excessively long hours for pitiful wages.

The allegations have been strenuously denied by the companies in question but, true or not, the headlines have been enough to convince the public that the problem not only exists, but perhaps most importantly, shows little sign of going away.

Child labour appears to be a particular concern, with seven out of 10 respondents claiming that it was ‘very important’ that factories should not employ anyone below a legal age.

"Over the past few years we have watched consumers flock to the cheapest outlets on the high street, but increasing awareness of the potential cost to humanity for these bargains is hitting home," TNS Worldpanel Fashion executive Elaine Giles told the BBC.

Whether this will be reflected in a fall in profits remains to be seen, but companies and the factories they operate clearly face a demanding period of soul-searching.

There’s nothing government likes more than a good target. Sadly, although inevitably, however, it seems that hitting them is far more difficult than announcing them.

The latest target to come under scrutiny is the commitment by the UK government to adhere to the European Union’s plans concerning energy production from renewable sources. Earlier this year all EU heads of state agreed to work towards producing 20 percent of their country’s energy from renewable sources by 2020 – a figure that according to a report from leading officials now seems not only unlikely, but almost impossible.

The Guardian report that a leaked paper said that Britain “has achieved little so far on renewables”, and claimed that raising the proportion of renewables from two percent to nine percent would be “challenging” – hardly surprising given official’s concerns that this jump would involve a further investment of some four billion pounds. All of which doesn’t auger particularly well for the 11 percent leap that would then be required before 2020.

In another potentially damaging revelation the paper suggests that ministers examine “what options there are for statistical interpretations of the target that would make it easier to achieve.” All of which sounds suspiciously like the kind of spin that Gordon Brown proudly announced the UK had left behind when he took over the reigns at No.10.

There is though, a very slight light at the end of an increasingly dark tunnel. The targets set at the EU’s spring summit set the 20 percent target across the 27-country bloc and did not specify individual targets for member countries. With that in mind the UK will be hoping that the rest of the continent is pulling up its socks with renewed vigour to make up for its own shortfalls.

As anyone involved in procurement will tell you, innovation is key. And the launch of the first ever ‘virtual’ procurement technology event - November’s ProcureTech LIVE (coming soon to a comfy chair near you) is set to raise the bar once more.

As valuable as conventional tradeshows and conferences are – the time, travel and associated costs can sometimes prove a serious barrier to attendance. Which is why ProcureTech offers something really different. It offers global procurement professionals and IT decision makers the opportunity to learn, interact and network without leaving either their home or office – all live through the internet in ‘virtual’ environment.

For technology providers themselves, this event will offer a unique stage to show off what’s fresh, exciting and new in procurement technology. And with executives from across the world able to ‘attend’ the event at any time, there will never be a better opportunity to reach a captive audience.

Among the procurement technology topics being covered at the event will be; eProcurement; eSourcing; Contract Management; Services Procurement; Spend Management; Spend Analysis; Software as a Service (on-demand); and Supplier Networks.

With all the hallmarks of a traditional conference and tradeshow – although in this instance it’s up to you to decide when you want to leave your seat and grab a cappuccino – you’ll be able to attend presentations, key note sessions and view literature. In addition you’ll have the opportunity to participate in ‘live’ webcasts and speak to product specialists from wherever you are in the world.

This is the first procurement event of its kind and demonstrates how innovation can help cut costs whilst delivering an event that people will be talking about for years to come.

To find out more visit the ProcureTech LIVE website – www.procuretechlive.com

Coming hot on the heels of the worst flooding in living memory a bout of foot and mouth was the last thing the British economy needed.

When the news broke of the outbreak in Surrey, near London, those involved in the agriculture industry will have justifiably been left shaking their heads in disbelief. And many reports in today’s newspaper have suggested that for many of those involved in an ailing industry, the latest kick in the teeth may be enough to push some over the edge.

But whilst countless towns across the UK begin the clear-up operation following torrential rain, and farmers begin pacing nervously every time they switch on the television, recent events have once more put into focus the need for a robust risk management strategy. And as the European Commission announced a ban on cattle trade from the UK with immediate effect, many of those strategies will already have swung into effect.

The last outbreak of foot-and-mouth brought the country to a near-standstill as supply chains suffered at the hands of no-go zones in an increasingly desperate attempt to control an outbreak that ultimately spread far from the farm on which the original case was reported.

Back in 2001 experts put estimated the economic cost of foot-and-mouth at £8.2bn - four days into the current crisis the country is hoping that there won’t be a repeat performance.

The recent decision by a number of high profile companies to delist from the NYSE has once again opened the debate concerning the location of the world’s financial capital.

Last week we reported that the BG Group had joined a growing number of companies to abandon the NYSE (citing the familiar burden of Sarbanes-Oxley as its primary reason) and Wall Street, for so long the focal point of the financial world, looks as though it is in danger of losing its gloss as businesses continue leave the Big Apple and head to London.

According to Fortune’s Peter Gumbel, it’s easy to see why.

“To understand why London thinks it's beating New York in a race to become the financial capital of the world, walk across the Millennium Bridge toward St. Paul's Cathedral and count the number of cranes that clutter the skyline,” he says.

“The City, London's financial district, is in the midst of its biggest redevelopment boom since the Blitz, one result of the $100 billion in foreign investment pouring into the British capital annually.”

In June Gordon Brown trumpeted London’s dominant position in the financial world, even going so far as to claim that the current period would be looked upon in the capital as “the beginning of a new golden age”, and as property prices in London continue to soar and city bonuses go on rising, you would find few who disagree.

One indicator of New York’s decline can be seen in figures concerning global IPOs, with a recent McKinsey report suggesting that New York’s share of IPOs worth $1bn has shrunk from a massive 57% in 2001 to a bitesize 16% in 2006.

Of course, defining the relative financial power of any city is exceptionally complex and, some may argue, ultimately futile, but at a time when the ‘special relationship’ between the US and the UK is under greater scrutiny than ever, it seems that London, in business terms at least, is beating its rival from across the pond hands down.