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.
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
A breakdown of all of the recepients in this year’s list Read more
Europe’s producers of pears are leaving crops to rot because of retaliation by Russia, the biggest buyer of European pears, against sanctions.
Many growers say it is cheaper not to harvest any but the most perfect fruit in a year when, according to Mintec, the commodities research and data group, overall production in Europe is estimated at 2.27m tonnes, down 2 per cent year-on-year from high output levels of 2013. Read more
The amount the NHS spends per patient will fall by at least £98 by 2020 under funding pledges made by each of the main political parties, figures based on NHS England’s internal calculations reveal.
The figures show that despite the current “ring fence” which protects the NHS budget in England from inflation, spending measured on health officials’ preferred measure – estimated patient numbers, which take account of the fact that as people age, they get sicker – has already dropped by £50 per patient since 2009. Read more
Russia’s ban on importing EU agricultural products will cause the loss of more than 300,000 tonnes of apples grown in Poland, a quantity more than the whole crop of the Netherlands or the UK, and risks causing a European glut of the fruit.
Poland’s apple and pear growers face substantial losses due the Russian embargo on farm imports from EU nations and other western countries which this year imposed sanctions on Russia over the Ukraine crisis. Read more
Are you a wealth accumulator, making good progress or burdened by debt? New research from think-tank the Smith Institute attempts to put a human face on all those distributional graphs of wealth inequality.
The report, published on Wednesday, calculates that property ownership in the UK, having risen dramatically in the last century, has peaked at 67 per cent of households and is likely to fall to 60 per cent by 2025. Read more
After a 13-year long war, UK forces and the US marines ended operations in Afghanistan on Sunday: in total 453 UK citizens lost their lives in the conflict and over 21,000 Afghanis are estimated to have died. The operational cost to the government is thought to be around £19bn. Read more
The European Central Bank on Sunday released the long-awaited results of its stress test.
The test, conducted on 130 euro area lenders, requires banks to have common equity tier one ratios of more than 5.5 per cent even under a “adverse scenario” of falling economic output, rising unemployment and declining house prices.
The stress test found 25 banks had capital shortfalls under the adverse scenario applied to banks’ balance sheets as of the end of 2013. However, that number fell to 13 once capital raised by the banks in 2014 was taken into account.
This sortable table shows a summary of the results of the stress test, including any shortfall after net capital raised since December 2013 is taken into account. Read more
Even before the dispute with Russia began battering their economy, hundreds of thousands of Ukrainians fled their country looking for a better life elsewhere. Ukrainians are now the largest group of migrants from non-European Union countries applying for residence in the bloc.
Eurostat said on Wednesday that the number of Ukrainians issued with EU residence permits rose by 48 per cent in 2013. Most Ukrainians moved to Poland looking for work. In total 236,691 permits were granted to Ukrainians, which means that the country has overtaken the US as the most common source country for migrants to the EU — India has also overtaken the US to take second place. Read more
What to do about British manufacturing? There is hardly a politician in the country who hasn’t called for the sector to get a boost. But the Office for National Statistics is set to stress today that popular perceptions manufacturing is disappearing from the UK are wide of the mark.
New analysis, to be presented by ONS chief economist Joe Grice at a conference on the changing shape of manufacturing, will focus on the sector’s move up the value chain despite an unquestioned reduction in employee numbers. Read more
More than half of children born in Britain in 2013 had a mother above the age of 30. For the first time since the government began keeping track. The mean age has been rising since a record low in the mid-1970s, after it fell from 29 just before the second world war. The average used by the Office for National Statistics is standardised to take account of the changes in the age distribution of the whole and allows the trends over time to be understood.
More migrants die crossing the Mediterranean than any other border in the world. In total the Mediterranean accounts for 75 per cent of the world’s migrant deaths. So far this year the Italian navy’s Mare Nostrum rescue operation has saved 100,000 migrant who tried to make the crossing but it is set to be replaced by a smaller and EU-managed force known as Triton.
by Gavin Jackson and Keith Fray
On Tuesday the International Monetary Fund released its latest World Economic Outlook. A striking new finding emerges: the seven largest emerging markets are now bigger, in gross domestic product terms, than the long established G7 group of industrialised nations, when measured at purchasing power parity (PPP). Read more
No one knows how many Chinese people live in Europe.
The United Nations estimated Europe’s China-born population at 886,882 in 2010, its most recent count, while Chinese-based social scientists put it somewhere between 2m and 3m.
Why, in the age of big data, is there so much uncertainty where our neighbours are from? Read more
This weekend the FT Weekend Magazine publishes its first guide to all things gastronomic in the French capital. All the articles – on fine dining, natural wine bars, street markets, specialist coffee hangouts, food politics and more – can be found on the magazine’s website.
The interactive map below shows the locations of more than 100 restaurants, bars, shops and cafes listed in the magazine.