Your next big payrise isn’t due until 2020 May 16, 2016 Workers banking on a bumper pay boost might find themselves disappointed, as a report out today has found that payrises have ground to an almost halt and could stay that way for the rest of the decade. A survey of more than 1,000 employers by the Chartered Institute of Personnel and Development (CIPD) discovered that pay [...]
Forget the gender pay gap – it’s the gender investment gap you really have to worry about May 16, 2016 It's not just the gap in pay that women need to worry about, as a study out today shows they are also getting a raw deal on their investments. The research by investment provider Radius Equity found that men make an average of £3,794 per year from their investments, which is 57 per cent more than women's [...]
Payroll tax errors bag the taxman an extra £737m May 16, 2016 Payroll errors are costing companies, particularly smaller companies, a pretty penny, research released today has found. According to the study by accountancy firm UHY Hacker Young, HM Revenue & Customs (HMRC) has bagged itself an additional £737m through investigations into slip-ups on payroll compliance, and over half (£373m) of that amount comes from SMEs. UHY Hacker [...]
Why this year’s votes against exec pay are not just a knee-jerk reaction May 15, 2016 As the world’s largest investment fund, Norway’s £590 billion oil fund is an unusually forward thinking animal. Well known in asset management circles for its stance against companies involved in the production of tobacco, nuclear weapons and most recently coal firms, the fund has announced that it will target executive pay which it deems excessive. [...]
The financial sector contains all the elements to make it the perfect target for cyber crime May 15, 2016 Telecomms giant Talk Talk and affairs facilitator Ashley Madison may have made headlines when they suffered data breaches last year, but a report due out on Tuesday will warn that the financial sector is the real top target for cyber attacks. The study by Marsh and TheCityUK will explore the extent of the risk that cyber crime poses to the City [...]
Top City advisers to be grilled by MPs in wake of BHS collapse May 15, 2016 A string of top City advisers are set for a grilling over the BHS fiasco after being called to give evidence in front of MPs. The business, innovation and skills committee is currently running an inquiry into the sale and acquisition of BHS, which kicked off last week with a joint hearing alongside the work [...]
Libor probe dropped in Germany for ex-Deutsche Bank staff May 15, 2016 Frankfurt prosecutors late last week dropped a case into five former Deutsche Bank staff for alleged Libor manipulation. It is understood that it could not be established that any erroneous information submitted by staff could have influenced the rate, and that the law did not provide any basis for prosecution. "We investigated whether there was a violation of [...]
EMBARGOED UNTIL MONDAY: ‘PENSIONS DASHBOARDS – TIME FOR THE GOVERNMENT TO STEP UP A GEAR’ – STEVE WEBB May 15, 2016 NULL
MPs warn that not enough is being done to protect consumers from mis-selling, and that the recently introduced pensions freedoms could spark a whole new scandal May 13, 2016 MPs are warning that the next financial scandal could be on the horizon, as too little is being done to address the cultural aspects that lead to wrongdoings, such as payment protection insurance (PPI) mis-selling, while a landmark pensions change has created new opportunities for such behaviours to flourish. A report released today by the Public Accounts Committee (PAC) [...]
