The average pay of a woman in the United Kingdom will overtake that of a male worker within the decade if current trends in the labour market continue, showed the latest figures from the Office for National Statistics (ONS) on Thursday.
British women in their 20s already earn 3.6 percent more than men of the same age on average, while the overall gender pay gap within the country has shrunk by less than 10 percent for the first time.
After a much publicised outcry, the American Department of Justice is now calling for a review to determine if banks violated antitrust laws in their concerted and unsuccessful attempt at imposing debit card fees.
In a letter made public on Tuesday, the U.S. Justice Department is “reviewing statements and actions by banks and their trade associations regarding possible increases in consumer fees for using debit cards.”
The banking industry may have a reputation for its generous bonuses, but as we all know, money does not always bring happiness. In London, psychologists are reporting a higher rate of depression, insomnia and stress-related problems among bankers.
In 2011, student debt in the United States topped $1 trillion—more than any other kind of consumer debt in the country. After bankruptcy protection was removed from private student loans in 2005, default — and the ruined credit score it results in — has been the only option left for struggling student loan debtors.
The US does not need an experiment with a flat tax. A careful study of countries that have embraced a flat tax system demonstrated three main pre-conditions that required a flat tax; none of which the US has. Adopting a flat tax would only confirm what many suspect but hope is not true: that America is broke, desperate for inward investment, incompetently governed, and increasingly ruled by a self-regarding oligarchic elite.
The US Digital Promise, also known as the National Center for Research in Advanced Information and Digital Technologies, was a non-profit organization originated by the U.S. Congress in 2008 as part of its Higher Education Act to help bridge the digital divide in education, especially in areas of new media and Internet use.
A group of bipartisan senators in the United States is pushing forward an online sales tax bill, which could spell an abrupt end to tax-free internet shopping.
On Wednesday, a group of Republican and Democratic senators jointly introduced a bill, dubbed the Marketplace Fairness Act, which would give states the authority to collect internet sales tax from all out-of-state retailers. Online retailers with less than $500,000 in annual sales would be exempted.
The average Wall Street worker will see his bonus fall by 20-30 percent this year as compared to 2010, said compensation consulting firm Johnson Associates in its annual compensation analysis report on Tuesday.
Last Saturday, community banks and credit unions in the United States saw a record amount in daily incoming transfers, as customers moved funds out of big financial institutions.
The occupy movement, whose agenda is still not quite yet defined, on Saturday inspired a grassroots level Internet-launched call to move money from the big transnational financial institutions down to the neighbourhood level.
Government officials in New York’s Suffolk County sacked its long-running Santa Claus Christmas performer last Friday, claiming that it was a necessary step to trim the county’s budget of US$2.7 billion, particularly in today’s economy.
