Daily Archive: April 2, 2017

Apr
02

Brexit top risk for UK bosses but fears of impact receding – poll

Survey of chief financial officers reveals drop in negative sentiment but leaving EU is still top concern

Fears about the effect of Brexit are receding among Britain’s company bosses – although the UK’s departure from the EU remains their top risk.

Nearly a third of chief financial officers said they are more optimistic about the prospects for their company than they were three months ago – the highest level since 2015 – a poll by advisory firm Deloitte has found.

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Apr
02

UK’s gender pay rankings will put discrimination under spotlight

The naming and shaming of employers is welcome, but the fight for equal pay for women has just begun

It’s like air pollution. Everyone knows it is happening, but they don’t want to admit they are part of the problem.

Britain’s gender pay gap has refused to close for years. At 9.4% in 2016, the difference between average pay for male and female full-time employees was little changed from the 10.5% gap five years earlier.

Related: Government failure to act means gender pay gap will remain, say MPs

Related: New GlaxoSmithKline chief to earn 25% less than her predecessor

We also suspect there will be a certain degree of licence for employers to exclude and manipulate data, which is highly subjective [and open to] interpretation in any event.

We expect big-budget organisations to be hiring expert pay consultants to identify and manipulate the numbers, how the parameters of the quartiles are identified, which people are counted and to put a positive spin on the data”

Related: It’s time to rewrite the rules of economics to end the growing chasm of inequality | Liam Byrne

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Apr
02

Hull after Brexit – will the City of Culture regret voting out?

It’s riding high as the UK City of Culture and beneficiary of huge investment from Siemens. But Hull voted overwhelmingly for Brexit, and uncertainty after the referendum led the German giant to put expansion plans on hold. Should residents be worried?

At the start of this year, the civic columns and royal statue of Hull’s Queen Victoria Square were brutally intruded on by a 75-metre-long white turbine blade on a plinth. This was the 2017 UK City of Culture’s monument to wind power, its new hope for a sustainable future at sea.

Hull has never recovered from the near-total ending of its long-distance fishing industry after the “cod wars” with Iceland in the 1970s. For all its efforts, it is Britain’s third most deprived local authority, with one large ward, Orchard Park and Greenwood, suffering some of the country’s deepest poverty. So the decision by the German manufacturer Siemens in November 2014 to establish Hull as the home of its factory to make blades for Britain’s vast new North Sea wind farms delivered the city’s most far-reaching economic boost for decades.

Related: Siemens freezes new UK wind power investment following Brexit vote

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