Skip to content
Search

Latest Stories

Fewer top women earners since pandemic: Report

The lack of progression of women to the most senior roles in financial and professional services is a major factor

Fewer top women earners since pandemic: Report

Women make up a smaller proportion of top earners in British financial and professional services than before the COVID-19 pandemic, research from the London School of Economics and Political Science (LSE) showed on Monday.

Women made up 19.4 per cent of the top 1 per cent of earners in the sector on average between the first quarter of 2020 and the second quarter of 2023, down from 19.7 per cent in the three years up to the first quarter of 2020, the research showed.


"The lack of progression of women to the most senior roles in financial and professional services is a major factor contributing to the gender pay gap," said Grace Lordan, an associate professor at the LSE.

"We are going backwards, but I am not surprised. For progress to be made, there needs to be a bigger shift towards recognising that diversity is good for business."

Some of Britain's top financial firms pay women 28.8 per cent less on average than male counterparts, according to salary data from 21 companies reviewed by Reuters last month.

However, the LSE research, based on the government's quarterly Labour Force Survey, showed that women made up 28.3 per cent of the top 10 per cent of earners between the first quarter of 2020 and the second quarter of 2023, a rise of 2.5 per cent from the three-year period up to the first quarter of 2020. (Reuters)

More For You

India and UK flags
Getty Images/iStockphoto

UK-India finance group marks one year, calls for steps to attract global investment

INDIA must take an investor-centric approach to attract global funding for its growing sustainable infrastructure needs, the UK-India Infrastructure Financing Bridge (UKIIFB) said in a report released in London on Monday.

The UKIIFB, co-chaired by NITI Aayog and the City of London Corporation, completed one year this week. The group was launched in September last year to help bridge the gap between global investor interest and infrastructure projects in India.

Keep ReadingShow less
Trump CEOs

Sitting at the centre of a long table, Trump was flanked by First Lady Melania Trump and Microsoft co-founder Bill Gates on one side, and Meta CEO Mark Zuckerberg on the other. (Photo: Getty Images)

At White House dinner, Trump lauds Nadella, Pichai

US PRESIDENT Donald Trump praised Microsoft CEO Satya Nadella and Google CEO Sundar Pichai during a White House dinner with top technology executives on Thursday. The two Indian-American leaders thanked him for his leadership and for policies in the technology and AI sectors.

Trump described the gathering as a “high IQ group,” calling the executives “the most brilliant people.” Sitting at the centre of a long table, Trump was flanked by First Lady Melania Trump and Microsoft co-founder Bill Gates on one side, and Meta CEO Mark Zuckerberg on the other. Pichai and Apple CEO Tim Cook sat across from him, while Nadella was seated toward one end of the table.

Keep ReadingShow less
 India-EU-iStock

The visit coincides with the 13th round of India-EU negotiations on a proposed free trade agreement, which both sides aim to finalise by December. (Representational image: iStock)

iStock

EU envoys to hold strategic talks in India, focus on trade and security

THE EUROPEAN Union's Political and Security Committee (PSC), made up of envoys from the 27 member states, will begin a five-day visit to India on Wednesday. The visit will focus on strengthening overall ties, including efforts to conclude a free trade agreement that has been under negotiation for years.

The committee, headed by Ambassador Delphine Pronk, is visiting India for the first time. It will hold strategic discussions with senior Indian government officials, defence industry representatives, civil society organisations and leading think tanks.

Keep ReadingShow less
Uber

Takeaway apps have become a source of employment for undocumented migrants

Getty Images

Uber warns UK food delivery costs could rise amid crackdown on illegal migration

Highlights:

  • Uber warns Home Office rules targeting illegal gig economy workers could increase takeaway delivery costs in the UK.
  • Undocumented migrants have historically used food delivery apps for work, exploiting limited right-to-work checks.
  • Companies like Uber Eats, Deliveroo, and Just Eat have introduced stricter checks, including facial recognition and document verification.
  • Compliance and administrative costs have contributed to a fall in Uber UK profits despite rising revenues.
  • Government enforcement includes thousands of interviews and hundreds of arrests for suspected illegal working.


Uber’s UK accounts at Companies House welcomed the Home Office’s efforts to deter migrants and people smugglers from risking Channel crossings. However, the company cautioned that “new legislative requirements could have an adverse impact on our business, including expenses necessary to comply with such laws and regulations.”

Takeaway apps have become a source of employment for undocumented migrants, attracted by historically limited right-to-work checks. Delivery riders have sometimes sold or rented their accounts on social media to “substitutes” who may be working illegally.

Keep ReadingShow less
Co-op and Bestway strike new deal to back independent retailers

Dawood Pervez (L), managing director at Bestway Wholesale and Katie Secretan, managing director of Co-op Wholesale

Co-op and Bestway strike new deal to back independent retailers

A NEW partnership has been formed between Co-op Wholesale and Costcutter Supermarkets Group (CSG) to support independent retailers across the UK.

Goes beyond the standard supply deal, it aims to bring the combined expertise and resources of both businesses together, helping local retailers compete in an increasingly tough convenience market, a statement said on Thursday (4).

Keep ReadingShow less