FYT - Weekly News 9th October


100 high flying businesswomen launch #MeTooPay.


The campaign aims to end gender pay discrimination


The women include: Former Royal Mail boss Dame Moya Greene, GSK Chief Exec Emma Walmsley, and former TalkTalk boss Lady Dido Harding.  


Stunned by a recent high profile case of sex bias pay and victimisation of a female broker at BNP Paribas UK, Harding said

"It was a real wakeup call to all of us"

Stacey Macken successfully sued BNP Paribas in a 3 year legal battle. She was treated as a “junior" purely because she’s a woman. Her salary was £120k. A man recruited to the same position was offered £160k. His bonuses were £167k over 4 years. 

Hers were £33k.  



What is unequal pay?




When pay is less than someone doing the same job.


The law says Equal Pay for Equal Work regardless of gender.




If you think your pay is unequal….

  1. Talk to your employer

  2. Put complaint in writing

  3. Talk to employee representative like trades union official

  4. Employer may have equal opportunities policy, ask to see it

  5. Use employer’s grievance procedure



UK Golden Visas applications from mega rich on the rise 

Despite clampdown after Salisbury novichok



Wealthy foreigners investing £2m+ in the UK in return for 5 year visas is at a 5 year high.


Home Office gave out 255 tier-1 investor visas in the first half of 2019, the most in a 6 month period since 2014



Naomi Hirst, Anti-corruption campaigner, Global Witness said

“The UK is once again opening its arms to high risk but wealthy individuals”

After the novichok poisoning case which the UK govt accuses Russia of ordering, the Home Office said it would crack down on the scheme and review 700 Russians on tier-1 visas



11,000 people, mostly from Russia and China, have entered the UK on the golden visa scheme since 2008.


Among them are Roman Abramovich, billionaire owner of Chelsea football club, although the govt didn’t renew his visa last year.


Zamira Hajiyeva of the ‘dirty money’ case who spent £16m in Harrods.


Banksy Chimps MPs painting sells for £9.9m


The 4 metre artwork ‘Devolved Parliament’ was sold by Sotheby’s London for 9 times its previous record. The anonymous Bristol painter said

“Record price for a Banksy painting, shame I didn’t still own it”


Young loyal customers charged £226 more to insure cars


Drivers pay an average of £109 per car more than they need to because they don’t shop around.


For younger motorists aged 17 - 24 the difference between average and cheapest premiums was much higher at £226 per car.


Why?


The research by Comparethemarket suggests it’s fuelled by motorists who select auto-renewal on their policy, with loyal customers paying far more than those who shop around and switch providers.


Top tip at renewal stage

Check your increase! Insurers MUST show price of previous year’s premium on renewal notices

Uni students and unfinished housing crisis


This term, 22 new private student accommodation blocks (those not owned by Uni’s) across the UK remain unfinished. That’s nearly 1/3rd of those being built in locations from Portsmouth to Swansea, Lincoln to Liverpool. In Bristol, delays have meant students being put up temporarily in Wales.

Alex, a student from Netherlands said “On the day they told people they can’t move in, they were asking for money from them”

Portsmouth student Bilgesu is in a hotel with no free wifi and isolated from student life

Destiny, one of 250 students at University of Portsmouth left in the lurch, is stuck in a hotel with no cooking facilities living on takeaways for the past 3 weeks.

Universities, who have no control over private developments, are angry too and want better consumer protection for students.  Graham

Galbraith, University of Portsmouth vice-chancellor says “These housing providers know that the universities will step in. Where does the responsibility for this lie? They seem to be able to walk away”.)



The power of compounding!



Indian Princes win £35m held in British Bank since 1948


Two descendants of royalty in India have won a high court battle with Pakistan over the right to £35m stashed in a London bank since 1948 after ‘partition’ when British India was divided into India and Pakistan.



The original sum of £1m in cash was handed to Pakistan’s London ambassador for safe-keeping in a NatWest account by the 7th Nizam of Hyderabad. He feared the money would be stolen by India after partition. The funds have sat there gaining interest to reach the sum of £35m.

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