Thursday, April 25News For London

economy

What is the gender pay gap?

What is the gender pay gap?

economy, Gender, News
With so much conversation about the pay gap in recent years, it can be tricky to decipher the facts and figures and know what it actually means for women in 2019. What does it mean? First, it’s important to note how the pay gap is defined. ONS measures the difference in percentage between men's and women’s median hourly earnings across all jobs in the UK. It is not comparing men and women doing the same job. The Office for National Statistics (ONS) reported in 2018 that the gender pay gap fell to 8.6 per cent among full-time employees in 2018. Among all employees, the gap is higher, however, at 17.9 per cent. This is largely due to the larger proportion of women in part-time jobs, which receive lower pay (“an average hourly rate is £9.36 compared with £14.31, excluding overtime, f

Local Council Funding Crisis

Adults, children, Data Journalism, economy, Law, London, London Mayor, News
In a recent FOI request by investigative bureau we gain some insight into local authority funding crisis. Since the fall of funding to local councils local authorities have had to find new ways to fund their needs. Before 2016 local authorities had to use money raised from selling public assets (known as capital receipts) to contribute towards debt. They were not able to use this money towards their general budget. However, in 2016 Chancellor George Osborne amended the rules to allow for ‘flexible use of capital assets.’ As a result, local councils began to sell public places such as libraries and community centres to use the capital towards their general budget. Consequently, local residents are left without community owned spaces and local jobs. Below are some staggering insi
The UK is still the largest country to scrutinize the explosive topic of the pay gap

The UK is still the largest country to scrutinize the explosive topic of the pay gap

Adults, Business, economy, Education, International, Law, News, Politics, trends
2019 has been the second year that all companies and charities in Britain with more than 250 employees - covering almost half the country's workforce - have had to report their gender pay gap to the Government Equalities Office (GEO). 1.How does it work? Employers must submit an assessment of the gap between what man and women earn on average amongst their personnel. The deadline for reporting these numbers each year is 31st March for public sector organisations and 5th April for businesses and charities. All companies must report the differences between salaries and bonus of employees from both genders on a mean and median hourly basis.   2.What surprises did we get? The Fawcett Society, the UK's leading charity campaigning for gender equality and women's rights, has defi...
13 reasons why Portugal is a better destination than the UK

13 reasons why Portugal is a better destination than the UK

Art, Blogs, Climate, Culture, economy, Entertainment, Environment, Food, Instagram, International, LifeStyle, News, Opinion, Retro, Student, Travel, trends, Uncategorized, urban, youth
Everyone seems to be travelling to Portugal these days. Indeed, this year the country reported gleefully on another record year for overseas arrivals. Just over 12.7 million foreigners visited the country in 2017 – up 12 per cent year-on-year. Here's why it is proving so popular. Portugal has been recognized by many newspapers and magazines, including The Guardian, Condé Nast Traveller, Forbes, The New York Times, El País, CNN, World Travel Awards, the Best Of Wine Tourism, Great Wine Capitals, Catavinum and many more. These awards recognize the country’s tourism excellence. 1.Lisbon’s charm Lisbon's century-old wooden trams and iron funiculars that still lurch and rumble their way through the city are unique. Wandering from Baixa district to Graça you'll see a very traditional side
UK economic slows, rising question of economic health after Brexit

UK economic slows, rising question of economic health after Brexit

Business, economy
After a growth over the summer, Britain’s economy lost its speed in three months to October, latest official data shows. According to the Office for National Statistics, GDP grows by 0.4 per cent from July to October, coming down from 0.6per cent, the rate of the third quarter of the year. In October, the GDP growth is 0.1 per cent. The increases are roughly flat in the three most recent month, August, September and October. “The latest data confirm that UK GDP growth is slowing after a strong performance in the middle of the year, and the risks appear to be to the downside ” Garry Young, head of macroeconomic modelling and forecasting at NIESR recommends. In this three months, services sector, with a 0.3 per cent growth, and construction sector are the main contributors to GD
Homelessness: Is contactless the solution?

Homelessness: Is contactless the solution?

Breaking News, Charity, economy, Health, Housing, London, London Mayor, News, ReportingWeek1, ReportingWeek2
Despite being one of the richest countries in the world, the United Kingdom faces a growing issue with homelessness. Many charities collect money and support those without a home but unfortunately, they fail to reach everyone in need. Stephen, 55, an ex-serviceman from the armed forces, represents a soundboard for many who have lost faith in charity. He is of the opinion that charities cheat people in the name of donation. “I would love to know where the money goes. But I already know where it goes. It goes for wages and it’s all a con. That is all it is. You’ve got the Royal British Legion. Last year they raised 42 million pounds. But it never went to the ex-servicemen. 75 percent of the people that live on the street are ex-forces. We are in a society now. We’re being lied to.”
Sluggish job market: Where do media graduates stand?

Sluggish job market: Where do media graduates stand?

Breaking News, economy, International, London, Media, News, Opinion, ReportingWeek1, Social media, Student, Technology, trends
Education has become of utmost importance globally and continues to grow. This is evident in the UK as the number of recent graduates have increased from 22% in 2002 to 40% in 2017. However, the number of entry level jobs is not rising at the same pace. As of March 2018, information and communication jobs are less than half in comparison to wholesale and retail trade jobs. Considering London’s significance as a media hub, it is startling that half of its population is comprised of graduates yet it has the highest unemployment rate in the UK. Abby and Holly, employees of a talent agency in advertising, shed some light on the matter. We asked them if they would prefer much younger and fresher faces in media instead of the older, accomplished presenters, Holly said: “I would pro
ICAN bags the 2017 Nobel Peace Prize

ICAN bags the 2017 Nobel Peace Prize

Business, economy, Environment, EU investment, EU talents, International
A civil society network ICAN representing of over 450 organisations in one hundred countries, was awarded the Nobel Peace Prize for 2017. ICAN ,Co-Chair ,Rebecca Johnson, said:“Our international network has worked so hard to ban and eliminate nuclear weapons.   The nuclear threats being issued by President Trump and North Korea remind us that nuclear sabre rattling can lead to nuclear war through arrogance or miscalculation”. “ICAN collaboration with the British civil society for nuclear disarmament for many years had brought in to limelight that the Nobel Award encourages efforts to persuade the British government to sign the UN Nuclear Prohibition Treaty, cancel Trident and take the lead to eliminate all of these abhorrent weapons of mass destruction,"said Johnson. The global tr
Uber’s appeal will not be heard until Spring 2018

Uber’s appeal will not be heard until Spring 2018

Business, economy, London, London Mayor, News, Tech, Transport
Uber's appeal against TFL’s decision, to not renew their licence will not be heard until the spring of 2018. Judge Emma Arbuthnot proposed two dates, April 30 or June 25th for the five-day trial at Westminster magistrates court on Monday morning. TFL’s decision came after the company was declared not “fit and proper” after a series of failures over passenger safety. TfL said that the company’s approach and conduct “demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications.” The company is in the process of repairing its reputation after they were hit with several controversies including harassment and a data breach that is thought to have affected millions. Chief executive Dara Khosrowshahi fle
Cryptocurrency: Dawn of a new economy?

Cryptocurrency: Dawn of a new economy?

economy, Technology, Uncategorized
The rise of cryptocurrency has become a popular method of payment as it’s growingly accepted across London. Imagine a time where carrying a wallet of cash is rendered useless, where figuring out what to do with all that change the cashier gave you isn't an annoyance. Transferring funds worldwide instantly becomes as easy as a tap of the screen. There is a new age on the horizon ‘a cashless society’ and its increasingly becoming popular capturing the imagination of some, striking fear among others, and confusing the rest of us. Today, London is a recent addition to the ever-growing list of destinations where retailers and traders have began accepting bitcoin. The enthusiasm and fascination of cryptocurrency provoked a massive increase in users. until recently users were quite limited to