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News digest 16/10/15: Women less likely to receive bonuses and Kids Company scrutinised

16 October 2015 by Henry Ker

Women less likely to receive bonuses - read more

New findings show that women are less likely to receive bonuses

New findings from employment firm Glassdoor have found that women are 15% less likely to receive bonuses than men. The Glassdoor UK Employment Confidence Survey found 29% of women receive any kind of bonus, in contrast to 44% of men. In addition, of those women who regularly received a bonus, only 61% expected to receive one again this year, compared to 75% of men.

Kids Company leaders face 3-hour grilling from MPs
During an intense examination in the commons over the failings of the charity Kids Company, its leaders Camila Batmanghelidjh and Alan Yentob denied allegations of impropriety and financial mismanagement at the charity.
The Charity Commission is investigating Kids Company’s governance and management and its chair William Shawcross said the trustees must take ‘full legal responsibility’.

Money laundering risk for finance sector
In the first official report of this type, the government has assessed that the size of the UK accountancy, banking and law industries makes them a prime target for billions of pounds of money laundering – more so than in other country. The report claims the same reasons which make the UK attractive for business, also makes it attractive to ‘clean’ illegal funds.

Increase in Volkwagen cars registered
Volkswagen has reported an 8.3% growth on the number of VWs registered in Europe in September 2015 compared to 2014, despite the emissions scandal that surfaced on 18 September. The scandal has cost VW billions of dollars in potential fines, lost ground to competitors in its control of the European car industry and a slumping share price. Yet these figures suggest the average car buyer is not so concerned and there is still reasons for VW stakeholders to be optimistic for the success of its company.

Government concedes on ringfencing
Banks’ major concerns around the expected ringfencing of their industry have been somewhat alleviated, with the proposed rules turning out to be less severe than expected. The rules were expected to heavily affect those with large investment banking divisions and put them at a disadvantage against their overseas competitors.

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