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tv   BBC Business Live  BBC News  April 4, 2018 8:30am-9:01am BST

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hello, this is business live from bbc news with ben thompson and david eades. three quarters of companies in the uk pay men more than women. the uk prime minister calls it a "burning injustice." live from london, that's our top story on wednesday 4th april. some companies are paying women 70% less than men, but in some sectors the gap is much smaller. why, and what's being done to tackle it. we'll explain. also in the programme, the trade spat continues! the united states publishes a list of 1300 chinese goods to be hit by new import tariffs. and that's sparked fears of an all—out trade war between the us and china. that's keeping markets and investors on edge. also, paving the way for the next generation.
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later in the programme, we'll hear how new technology is transforming the way we build our roads. and as more companies report their gender pay figures, today we want to know whether the issue has affected you? do you feel like your pay progression has stalled? or perhaps you work in a company which pays women more. do let us know, just use the hashtag bbcbizlive. hello and welcome to business live. today is the deadline for british businesses to give a breakdown of the gender pay gap between men and women. there are lots of different measures of pay inequality, but on an hourly basis, the last year's figures showed that men are paid 18.4% more than women here in the uk. the world economic forum says that pay inequality is a global issue and that the gap has increased every year since the turn of the decade. but this varies massively across different companies and industries. for example, the consumer goods giant unilever pays
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women 9% more than men. that reflects the fact that the lower paid manufacturing jobs are dominated by men, yet there's nearly a 50:50 split at management level. but at ryanair, the gender pay gap is as much as 67%. many of the highest paid employees at airlines are pilots and the majority of pilots are men. with me is dr zara nanu is the chief executive for gapsquare, a tech start—up focusing on tackling the gender pay gap. as those figures showed, it is a very complex story, the big picture may seem obvious, we named and shamed to a certain extent over weeks and months, but it is not an easy thing to draw comparisons for. absolutely not, the gender pay gap in itself is a complex issue, important to highlight that it is
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not an equal pay issue, if companies have equal pay issues, they must address those separate. it is more about structural inequalities, the motherhood penalty, when women return to work, they look for more flexible work, they look for work thatis flexible work, they look for work that is usually paying less than what they used to get before. so it is about addressing those structural inequalities that can be very complex, and are not necessarily about the business but more about oui’ about the business but more about our society and stereotypes, ingrained biases. what you do about, for example, northern lincolnshire and goole nhs, the gender gap is 95%, i'm not quite sure how you can rebalance that. well, the government currently requires companies to report several key indicators, mean and median, distribution of the workforce across four page quartiles
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and companies can do more by looking more in—depth into data, working at the gender pay gap byjob title, by grade, by age and length of service, to identify exactly where the key challenges are. that is what we do through technology, we help companies to use their dated to understand where the key challenges. and i know it really is a drop in the bucket but there are some businesses, some sectors in fact, where the gender pay gap swings the other way, and the diversity issue is one about getting more men in than women. yes, one in four companies in the uk currently have a negative gender pay gap, or a pay gap of zero. so it is a significant number, but they again are female dominated industries and sometimes what we find is that the sectors in which paper hour is less than in the other sectors and industries where
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the gender pay gap is higher. let me ask you, we have reached the point, 9000 of the biggest organisations and companies by today will have laid bare their position, how important do you think that is and how optimistic does that make you about real change following down the line? pay transparency is absolutely important, this legislation derives from what used to be able and terry gender pay gap reporting, and as pa rt gender pay gap reporting, and as part of that voluntary framework, only a handful of companies have looked into their numbers, the fact we are now reaching the 9000 companies who have reported on gender pay gap is very hopeful for those who believe that we can address structural inequalities and create a more level playing field of employment for both men and women. the pressure is on. thank you very much. bringing you up—to—date with some of the other stories making the headlines. wpp is investigating an allegation of personal misconduct against its chief executive sir martin sorrell.
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the world's largest advertising agency said its board had appointed independent experts to carry out the investigation. mr sorrell responded on wednesday, saying he rejected the allegations "unreservedly". the advertising standards authority in the uk has taken action against amazon for misleading adverts. four of the online giant's ads have been banned after the asa ruled that recommended retail prices used for a television, gaming monitor, laptop and electric toothbrush were "misleading". spotify has now started publicly trading for the first time on the new york stock exchange. shares of the music—streaming service closed at $149 making the company worth $29.5 billion, well above the value of other tech firms such as twitter. just a few hours ago, the trump administration published its list of around 1,300 chinese products
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that it wants to hit with extra import tariffs in a move worth around $50 billion. china has responded, saying it will take counter measures to the taxes. for more on this we're nowjoined by robin brant from shanghai. it was expected that there would be retaliation, and so this could be a trade war. yes, fair to call this a nascent trade war, moves from the us on solar panels and steel and aluminium, moves from the chinese against fruit and wine and this is the second wave now of these proposals coming from the us, and a chinese response, 1300 items from the us, dirty billion dollars worth of trade they propose to hit with new tariffs, and the chinese response has been to things, a promise of a swift new list, swift retaliation. —— $30 billion. that will be in equal measure, we are told, we have had an easier terrific
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move against either import from the us, reports here in china from the ministry of commerce saying they have increased tariffs, that is specific but shows the response will be very swift. china trying to shame the us administration by saying it sees these measures from the front as protectionist and having a com plete as protectionist and having a complete disregard for its place within the world trade organisation. —— ether imports. this president has said that the trading relationship between the united states and china is very unfairand between the united states and china is very unfair and he wants to see changes on the chinese side. 0ne side last week, the us trade representative expanding by a further 30 days the period of consultation before the latest round of tariffs may be put into action, a clear sign from the us that they are angling for some kind of negotiated settlement. one that we will watch, i'm sure you will stay right across that. the latest on the potential trade war. let's show you what that has done to the numbers, markets we re
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has done to the numbers, markets were a little higher, certainly in japan, tokyo, after the rebound on wall street, markets boosting, despite the fear of an all—out trade war between the us and china. of course, we have heard from china, 110w course, we have heard from china, now promising it will retaliate those sanctions from the us. and that of course could impact any recovery we have seen on that of course could impact any recovery we have seen on global markets after days of uncertainty. let's see what is happening in europe, we will get an update on eurozone inflation, has there been any pick—up in prices during march and the recent slowdown? expectations are for prices in the eurozone blocked by 1.4%, higher than the 1.1% eurozone blocked by 1.4%, higher than the1.1% in eurozone blocked by 1.4%, higher than the 1.1% in february but policymakers hoping for it to be 2%. that would justify them tightening monetary policy, that is the current state of play in europe. 0n
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on wednesday, wall street mulling over the announcement of proposed additional tariffs by the us on 1300 chinese products, including aircraft turbojets and various industrial machinery and assessing the likelihood of a full—blown transpacific trade war, any indication of further retaliation from beijing could send markets in new york plummeting yet again and more information on how things are going. donald trump's policies could force businesses to get their supplies from the us rather than importing them from abroad. joining us is chrisjustham,
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relationship manager for seven investment management. for all the bumping, they don't seem too sure what to make of it. it is a bit of a wait and see at the moment, a lot of uncertainty as your correspondent mentioned, this is the second wave of it, question of understanding where it's will go next, what is more significant is if you ignore the broader indexes and look at the company is exposed, relatively unmoved and unscathed, so certainly initially, a great deal of reaction, as we see this progress and see this potentially escalate, we will see things like the australian dollar, quite exposed, commodities exported, it depends upon exports, we will wait and see. this is a spat between the us and
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china. is there collateral damage, is ita china. is there collateral damage, is it a global issue, is it about two economies slugging it out? —— slugging it out. we are all connected, it is protectionism from donald trump but we are all connected, if you look at the currency market, relative to one another. if you look at domestic sectors, and certain areas within the us economy, certainly some of those companies and share prices will be affected directly for the spotify has heard its public offering and done extremely well. -- spotify has had its public offering. what is more interesting about spotify is it is easy to compare it to other tech businesses, they went direct to market, some fluctuations,
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those were expected, they will be quite pleased, what will be interesting, they do not have fixed costs, for the likes of twitter and snapchat, which voted more recently, and they do not have cost as they continue to pay royalties for every song played, it is difficult to understand when they will make their profit, the more people that you have coming on board, the more songs you have to pay, half of their reve nu es you have to pay, half of their revenues will come from the record companies. thank you very much. see you ina companies. thank you very much. see you in a little while. a warning that workers are at risk as robots could replace six millionjobs, that isa could replace six millionjobs, that is a warning from the 0ecd. still to come: we'll hear from the boss of a company hoping that new technology will provide a smooth future for an entire industry. you're with business live from bbc news. the carfirm ford has
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teamed with the social movement time to change to launch a nationwide awareness campaign to highlight the issues related to mental health. ford is hoping the campaign will see some of its 15,000 employees open up about any mental health issues they may have. we're nowjoined by sue baker, the director of time to change. good morning. a very important initiative, clearly getting people to talk about mental health issues, but i imagine in somewhere like ford, blue—collar in many respects, might be difficult for workers to do so. might be difficult for workers to do so. so important that men in all workforces find a way to support a colleague who is struggling, you don't need to have the right terminology, you don't need to be a mental health professional, people in banks, in confectionery, in retail, all kinds of men in
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workforces are starting to find ways of showing that they would not judge a colleague, a manager, someone they manage, if they developed a mental health problem like depression, anxiety, bipolar. really important, because we lose 6000 men a year and women to suicide, that as a nation in britain and the biggest killer of young men is suicide, more even than road deaths. we have to do something to get men to talk. what prompted the involvement of ford? we are currently working with 800 employers, big companies and small employers, big companies and small employers and mental health is an issue in every single workforce, blue—collar, white—collar, high—level industry leaders are starting to talk about mental health. it is something that affects one infour
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health. it is something that affects one in four people each year. i think they recognise mental health is suddenly moving out of the dark ages and out of the two blue and into the public domain. but i also think there is some personal drive here as well. the chairman is very passionate about this issue as well. thank you very much for that indeed, a critically important area. you're watching business live. the beast from the east, good news for supermarkets because we all stocked up. more news on that on the website. our top story today is the deadline for british businesses to give a breakdown of the gender pay gap between men and women. of those that have already published data, it's been found that 78% of companies pay men more than women. much more on the website as those
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details come through to us. the deadline later today and many firms need to report, many more have issued those figures. we might take them for granted, but they're the backbone of global infrastructure. the road network is often overlooked when it comes to government spending with bigger, more glamorous projects like airports and railways grabbing the headlines. but what would life be like without the humble tarmac road? asphalt covers most of europe's 5 million kilometres of roads. and that makes the asphalt industry huge, employing around 180,000 people. the uk firm minster surfacing is a major player in the sector with big infrastucture projects around the country. but it's also looking to green the industry by helping pioneer a revolutionary recycling technique. bruce spencer—knott, founder of construction firm, minster surfacing. good morning, nice to see you. we
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are smiling because it is not the most exciting industry or the most glamorous, but it is absolutely fundamental to our everyday lives, to business, the economy and the wider world. absolutely, most of those people who panicked and went to the supermarket had to travel on the road estimation mark it is a fundamentally important infrastructure. but you are having a problem getting the people you need to do that work. it is very difficult to get the younger industry interested. they do not wa nt to industry interested. they do not want to be involved in any kind of physical, hard work. they are more interested in the ipad. you have given us an idea of what you can earn as a relative youngster and it is good money. it is. iwent earn as a relative youngster and it is good money. it is. i went through school, i did well, i did my a—levels, i fell into the back of a
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transit van and i went out with a bunch of gorillas for a few years and immediately i was earning good money. as an 18—year—old i was getting through £350 a week and then asa getting through £350 a week and then as a form and £750 a week. and today? the guys i was employing were working hard couple of years ago with £2000 a week and they are earning a significant amount of money. we are in the wrong job. the question i suppose now for the industry is if you look down any high street right now or any road there are potholes. we have had a tough winter. there is a lot of criticism that government is prioritising spending on airports and big railway projects. is there spending on roads right now?l significant amount of money has been
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committed by central government and it is making its way to local government and they are spending it on maintenance cycles and pothole works and we are coming to the end ofa works and we are coming to the end of a significantly strong and lengthy winter which has found out the failures in the roads, but central government are acting upon that now. it is a pretty straightforward operation what you have to do. you have talked about technology, innovation and recycling. what are you doing? when we re m ove recycling. what are you doing? when we remove the old road, if it has got cold heart in it which is hazardous, most roads before 1985 contain this material, so instead of that going to landfill which is costing ratepayers a lot of money, we ta ke costing ratepayers a lot of money, we take the material, we crush it and scream it and reintroduce its to bitch in an cement and create another material. that material is then reintroduced into the lower layers of the carriageway. the
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council managers to maintain ownership of this material which is hazardous and we as ratepayers are getting more bang for our buck, so it isa getting more bang for our buck, so it is a win— win. getting more bang for our buck, so it is a win- win. recycling is a huge issue this year and plastic is one of the biggest issues and some firms could use plastic waste on roads. how would that change the way you work? it would not change it so much, it is a small amount of reintroduction of plastic. we do not wa nt to reintroduction of plastic. we do not want to see it in the sea, we have seen the photographs and the films, and it can be introduced into the lower layers of the roads. it is a binding agent. it cannot take over from the other binders or the tyre, but it would help to bind it altogether. thank you very much indeed forjoining us. thank you very much indeed forjoining us. in a moment we'll take a look through the business pages but first here's a quick reminder of how to get in touch with us.
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stay up—to—date with all that they's business use as it happens on the bbc‘s business live page. there is insight and analysis from our team of editors right around the globe. and we want to hear from you as well. get involved on the bbc‘s business live web page. we are also on twitter at bbc business, and you can find us on facebook. business live, on tv and online. what you need to know and when you need to know it. we are going to pick up on some of the tweets we have had in with regard to the gender gap. we have had quite a few. matt says when it compares like for like jobs i will take notice of it. that is some of the challenge of reporting the gender pay gap because it is not
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necessarily comparing like—for—like. it is about looking at the business overall, like in ryanair were more of the pilots will be men and the lower paid jobs will be done by women. justin says, does it make a difference to you? he says, no, but i get difference to you? he says, no, but igeta difference to you? he says, no, but i get a bigger apartment, i get to travel more. he also raises an issue about having a child because women taking time off work means they are out of the workforce. another one says, the pay gap is not real it takes all society as a whole and looks at average paid. it isa and looks at average paid. it is a complex area. random bicycle is more to the point, stop this leftist propaganda, equality of opportunity already exists. that gives me more motivation to succeed says another. it is about the difference it makes day—to—day and the perception of the business. they are talking aboutjobs. what other business stories has the media been
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taking an interest in? chrisjustham from seven investment management isjoining us again to discuss. robots are set to replace 66 million jobs across europe but i it is a sensationalist headline. we see these things pop up from time to time. this is talking about a study by the 0ecd and they mention those countries exposed to highly automated jobs and they will be heavily impacted. it is pointing out the obvious. it does not help those individuals in those roles at the moment, but there is a big question about it in the future. you say it isa about it in the future. you say it is a figure that is sensational, but people recognise jobs will be going. what struck me is that germany will struggle and britain is one that will get of relatively lightly. that reflects what both countries do, which areas dominate the economy. we area which areas dominate the economy. we are a service sector dominated economy. 75% means we rely on that
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sector and it is less automated. in germany, there are comparisons between germany and the uk, and they area big between germany and the uk, and they are a big manufacturing powerhouse and a lot of theirjobs could be automated. in slovakia 33% of their jobs are highly automated and that leaves them very exposed. we are going to leave it there. good to have you here on the programme. thank you for your company and all of the messages you have sent through. more of them coming in. we will do it at the same time tomorrow. goodbye for now. good morning. a real contrast in
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temperatures in the north and south today. in the north further snowfall parts of scotland and temperatures struggling into the low single figures and further south temperatures in double figures with the risk of thundery showers. this area of low pressure is dominating our weather today and it is working its way north east. we will see further outbreaks of snow in scotla nd further outbreaks of snow in scotland and it will push into the south. patchy outbreaks of rain for eastern parts of northern ireland and brightening up from the west with sunny spells. in england and wales at sunny spells with thundery showers this afternoon. highs of 13 degrees and it will be windy in the south with gusts of 45 miles an hour in the southern counties. this evening and overnight that area of low pressure he is towards the south—east. temperatures will fall away, so tomorrow morning bright but
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cold start for many of us away from the south east. there it starts off a bit cloudier. there will be plenty of sunshine through the day, temperatures at a maximum 15, perhaps more in the patchy cloud moving into the west later. that is thanks to the weather front that is coming in from the west. there will be more in the way of cloud and outbreaks of rain, so for friday we are looking at the east— west split. we will see outbreaks of rain and increased amounts of cloud moved into the west. the heaviest rain in the western powers of scotland and with a southerly breeze temperatures are on the way up. 16 degrees by the time we get to friday. some uncertainty at the weekend, but a mixture of sunny spells and showers. hello it's wednesday it's 9 o'clock, i'm victoria derbyshire, welcome to the programme top story: theresa may says the gender pay gap is a burning injustice which must be tackled. companies have until midnight tonight to publish their own stats,
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what will they show? 0ne one of them is the fact that there is less senior women in senior roles in industry generally. so how do we best tackle the gender pay gap? your suggestions are one. also on the programme, 48 murders on the streets of london in the space ofjust three months. we'll ask what can be done to cut the growing violence. and, the hidden problem of aloholism amongst british punjabis at the age of
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