Financial news

• Trump is on path to full-scale trade war: first China, then Europe

  18-03-2018 12:54 via theguardian.com
  US protectionism is in accord with the spirit of the times – but it won’t have a happy endingMuch to the delight of Hollywood, Donald Trump wants to open a new front in his trade offensive by punishing China for theft of America’s intellectual property rights.The US entertainment industry is not awfully keen on Trump, having strongly backed Hillary Clinton in the 2016 election, but is even less keen on its movies and TV shows being ripped off by the world’s most populous
  
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• The great British chef shortage: why eating out is under threat

  18-03-2018 12:30 via theguardian.com
  We are in a golden age for dining out – but now there aren’t enough trained chefs and waiters to go round – and Brexit is not going to helpIt was, says chef patron Alexis Gauthier, “not the last resort”, but almost. Last September, he needed to fill three positions at his central London restaurant, Gauthier Soho: a pastry chef; a chef de partie, to head up one of the stations in the kitchen; and a sommelier. Gauthier has held a Michelin star since 2011, but that is
  
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• No CEO should earn 1,000 times more than a regular employee | Sarah Anderson

  18-03-2018 11:00 via theguardian.com
  For the first time ever, US corporations have begun reporting pay ratio data. And a movement is building to crack down on companies that don’t share the wealth The CEO of Marathon Petroleum, Gary Heminger, took home an astonishing 935 times more pay than his typical employee in 2017. In other words, one of Marathon’s gas station workers would have to toil more than nine centuries to make as much as Heminger grabbed in just one year. Employees of at least five other US firms would hav
  
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• Simon Wolfson and Ray Kelvin: fashion’s one-club men

  18-03-2018 08:00 via theguardian.com
  Like footballers of yore, the two retail chief executives have battled in midfield for the same company their entire careersIn the world of football, the traditional notion of a one-club man – a player who spends his whole career turning out for the same team – has been going out of fashion for decades.We may revere Franco Baresi’s peerless defending during his years at AC Milan, the wonder goals of Southampton’s Matt Le Tissier and the, er, sensational dribbles of Liverp
  
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• May pledges to fine company bosses if they endanger staff pension funds

  18-03-2018 01:05 via theguardian.com
  New criminal offence of neglecting pension responsibilities to be announced this weekRogue bosses will face fines or prosecution for putting the pensions of their workers at risk under new laws to be unveiled by the government.Ministers will confirm this week that they will target reckless employers with new rules designed to protect pension pots when companies go under. There will also be measures designed to target directors who are guilty of mismanagement. Continue reading...
  
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• Brain drain of graduates to London leaves cities facing skills shortage

  18-03-2018 01:05 via theguardian.com
  Mayors and businesses call for action on young people quitting regions after completing degreesBritain’s regions are suffering a “brain drain” to London as about a third of departing graduates head to the capital each year, analysis has revealed. Ministers are under renewed pressure to tackle the stubbornly unbalanced map of Britain’s economy, with warnings that some big cities are left with serious skills shortages.Higher education data reveals that more than 100,000 of
  
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