“The good school” is the title of the reform to the Italian educational system proposed by the Prime Minister Matteo Renzi that was approved by the lower chamber of parliament on the 20th of May and that now needs to be approved by the upper chamber in the next few weeks.
In the words of the Ministry of Education Stefania Giannini the reform is aimed at improving “autonomy, transparency, responsibility, fair valuation and merits” in the educational system. The reforms involve funding for hiring thousands of temporary teachers on permanent contracts, more training, the introduction of a one year trial for new teachers and larger school autonomy among other – sometimes controversial – measures. Read more
Banks have paid more than $160bn in fines and legal settlements with US regulators since the financial crisis, data compiled by FT reporters shows. Update, May 22, 2015: Six global banks – Bank of America, UBS, RBS, JP Morgan, Citigroup, and Barclays – will pay more than $5.6bn to settle allegations that they rigged foreign exchange markets. Separately, New York’s banking regulator is intensifying a probe into the use of computer-driven currency trading to allegedly abuse forex markets. Update, April 24, 2015: The data now includes Deutsche Bank’s settlements over Libor manipulation. Deutsche Bank paid out $775m to the US Department of Justice, $800m to the Commodity Futures Trading Commission and $600m to the New York Department of Financial Services. Update, November 12, 2014: Our dataset now includes the settlements with the US Office of the Comptroller of the Currency and the Commodity Futures Trading Commission relating to the global probe into allegations of widespread forex rate-rigging. The new data bring the total fines and settlements in 2014 to $56.7bn, making it the most expensive year on record. Update, August 7, 2014: Bank of America’s $16bn settlement over allegations of misselling mortgage-backed securities brings the total for the first eight months of 2014 to more than $54bn, exceeding the total collected in the whole of 2013.
You can now download the full bank fines data as a CSV file that can be imported into any spreadsheet or statistical software package. This link will always provide the most up-to-date version of the data compiled by the FT.
Guest post by Paul Hodges
Demographic change is creating major headwinds for the US economy, as confirmed by its disappointing first quarter GDP growth of 0.2 per cent. Consumption accounts for around 70 per cent of US GDP, and new data on household spending from the US Bureau of Labor Statistics (BLS) demonstrate how the ageing of the US population is creating major structural change in the economy. Read more
Here’s a simple question: which of Britain’s parliamentary constituencies have seen the biggest job market recoveries since the coalition government took office in 2010?
The answer, I thought, might well generate a news story in the week of the UK general election. So I downloaded a time-series of the number of Jobseeker’s Allowance benefit claimants in each constituency. (I used JSA claimant data because, when you’re looking at small geographical areas, they’re far more accurate than survey-based measures of employment and unemployment.) Read more
By Robin Kwong and Steve Bernard
New York, Rome, Berlin and Mexico City. Which is the odd one out?
It is Rome. It missed out on being in the top 10 cities out of 55 indexed by Youthful Cities, a Toronto-based organisation that has started ranking metropolises based on their ability to meet the demands of their young residents (aged 15-29).
New York topped the list, with London coming in second and Berlin third. More interestingly Mexico City slipped into the top 10, the only non US, Canadian or European city to do so. The mix gets more interesting for the top 20, with the likes of Tel Aviv, Hong Kong and Santiago making the cut. (See full post for list.) Read more
Polls suggest that the UK general election on May 7 will result in a hung parliament. A coalition, or a minority government backed by a “confidence and supply” deal with other parties, is likely to come to power.
This interactive graphic shows the scenarios possible based on the current projection from ElectionForecast.co.uk. Read more
Our new unemployment tracker shows the latest jobs data across the European Union, including top-line figures for each country’s constituent regions. The most recent figures are for September 2014.
You can also download the latest data using the link beneath the graphic. Read more
The Electoral Commission keeps a record of every donation above £7,500 to Britain’s political parties. Although nominally transparent, the records are difficult to use: the only unique identifier for each donor is their name.
This is further complicated by the inconsistent use of titles and initials as well as addresses attached to the names of businesses and organisations.
The FT has cleaned the data to make it easier to use with this interactive graphic. Donations to individual members of parliament are included in their party’s totals. Read more
Shift from traditional two-party race means different ways of predicting vote result are being used Read more
Updated May 06 2015
Note: the five parties shown are those for which every polling company in our poll-of-polls provides individual figures.
UK voters will elect a new parliament in a general election on May 7. Our poll-of-polls tracks all national-level voting intention polling figures going back to the 2010 election – the dots on our chart – and then calculates a rolling score for each party adjusted for recency and different pollsters. Read more
2013 protest in Manchester against widening pay gap © Getty
By David Oakley
Britain’s top 10 highest paid bosses earn more than a combined £100m in the most recent financial year. For these top earners, their £118.9m aggregate pay packet was 27 per cent higher than what they received in the previous year.
This – at a time when real household median incomes in the UK is only just returning to 2007-2008 levels – is likely to put executive pay firmly back into the spotlight as the UK general election approaches and shareholders gather at upcoming annual general meetings. Read more
Some have suggested the BBC should become like Netflix and fund itself through viewer subscriptions. If you were in charge, what TV channels and radio stations would you offer?
David Cameron is taking a leaf from Shinzo Abe’s book. “It’s time Britain had a pay rise,” the UK prime minister plans to tell business leaders on Tuesday (unlike the Japanese prime minister, he will deliver his message in a speech rather than over a few rounds of golf.) It seems like a political no-brainer with an election in May and a workforce that has suffered six years of real terms pay cuts. But is it really that simple? And what can Mr Cameron do about it anyway? Here are six charts that explain what is really going on.
1. It’s true that UK workers have suffered a brutal real-terms pay cut since the crisis.
The world is awash with even more debt than before the financial crisis. Use the FT interactive tool to compare countries’ debt levels Read more
Guest post by Paul Hodges
The UK’s ageing population is creating major headwinds for economic growth, data published last month Office of National Statistics shows. Read more
The UK’s ‘two speed’ housing market is not a novel concept, but new figures highlight the regional and political split like never before.
Use our interactive graphic to explore how geography and politics divide fortunes in Britain’s property market. Read more
Renewables outstripped lignite, the most polluting form of coal, as Germany’s top power source for the first time ever in 2014.
This was a big milestone for the country’s energy transition, or Energiewende, which aims to use renewables for 80 per cent of Germany’s energy needs by 2050, and to stop using nuclear energy by 2022. Read more
The global crisis left many economies heavily indebted. But there are ways policy makers can repair the damage Read more