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Workers walk during the morning rush hour in the Canary Wharf business district of London November 9, 2016. — Reuters picLONDON, April 6 — Britain has become one of the first countries to require large firms to report pay discrepancies between male and female employees under a law that came into effect today, as part of a push to promote gender equality in the workplace.

The pay gap between British men and women is at a record low, the government said, with women earning 18 per cent less than men in the UK in 2016.

Closing Britain’s pay gap could add £150 billion (RM828.60 billion) to the country’s annual gross domestic product by 2025, according to consulting firm McKinsey Global Institute.

The new regulations will cover companies with at least 250 workers – which equates to more than 15 million employees or almost half of Britain’s workforce, the government said.

Employers must also reveal pay gaps in bonus payments and publish the proportion of male and female staff across each salary bracket, among other requirements.

“We have more women in work, more women-led businesses than ever before and the highest proportion of women on the boards of our biggest companies,” said Minister for Women and Equalities Justine Greening in a statement.

“This has helped us to narrow the gender pay gap to a record 18.1 per cent – but we want to eliminate it completely.”

Other countries to introduce mandatory gender pay gap reporting include Australia, which passed similar legislation in 2012, and Germany, where a forthcoming law will affect companies that have more than 500 employees.

The government said the new law was part of a longer term scheme to support women in the workplace, including investing £5 million to help parents return to work, providing 30 hours of free childcare, and introducing shared parental leave.

Women’s rights group Fawcett Society said they “strongly welcome” the gender pay gap reporting legislation.

“Employers should see it as an opportunity not a threat. Through gender pay gap reporting they can address the productivity gap and get the best person for the job at the right level,” Sam Smethers, chief executive of Fawcett Society said in a statement.

A parliamentary committee in February said Britain will fail to close the pay gap within a generation as promised without more flexible working, paternal leave, and encouraging women aged over 40 back to work.

Yesterday, parliament’s Business, Energy and Industrial Strategy (BEIS) Committee said that companies should publish pay ratios annually, give workers a seat on the committee that sets pay and have women make up half of all new senior and executive level appointments from 2020. — Reuters  

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A law to fine social media companies more than $76 million if they do not remove discrimination and fake news from their site quickly has been passed by German ministers. 

Germany’s justice minister, Heiko Maas, revealed the law to cut back ‘criminal content’ online in his country in March. 

It stated that social media firms such as Facebook and Twitter would have 24 hours to remove hate speech and fake news from its site within 24 hours or within seven days if an investigation had to take place. 

The head of social media companies in Germany could be personally fined almost $8m if their firm did not comply. 

READ MORE: 
* Germany plans to fine social media sites over hate speech
* Advertisers keen to protect their image are boycotting YouTube

Maas said that Facebook and Twitter were not good enough at removing hate speech from their sites, the BBC reported. 

“Twitter only removes 1 per cent of these hate speeches, Facebook removes less than 50 per cent,” he said.

“But we know this is possible, because YouTube manages to remove 99 per cent of them.”

The law was amended to include child abuse imagery as offensive content, and mentioned the precaution to not ruin democratic freedom of speech. 

“[It] sets out binding standards for the way operators of social networks deal with complaints and obliges them to delete criminal content,” Maas said in a statement when he announced the planned legislation. 

A Facebook spokeswoman told the BBC it would be difficult in practice.

“We work very hard to remove illegal content from our platform and are determined to work with others to solve this problem,” she said.

“As experts have pointed out, this legislation would force private companies rather than the courts to become the judges of what is illegal in Germany.”

German digital trade association Bitkom told the Financial Times that the requirements would be “utterly impossible to implement in operational terms”.

 – Stuff

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WASHINGTON (AP) — U.S. services companies saw their growth rate taper off in March, as hiring and business activity remained positive but dipped relative to February.

The Institute for Supply Management, a trade group for purchasing managers, said Wednesday that its services index fell to 55.2 last month from 57.6 in February. Any reading above 50 signals growth.

The report points to the United States continuing its nearly eight-year recovery from the Great Recession, a sign that many consumers and businesses are on a solid footing. Services — which can range from home buying to doctor’s visits to hair salons — account for the vast majority of the U.S. economic activity.

But some firms also reported a degree of uncertainty regarding the Trump administration in the survey used to compile the report.

One finance company said there is a “large amount of future uncertainty” regarding efforts to replace former President Barack Obama’s health insurance law. Another health care firm highlighted uncertainty as well, while a company in the accommodation and food services sector said there are possible challenges because President Donald Trump’s exact policies on trade and immigration are “unknown.”

The services sector has now expanded for 87 straight months. But the employment reading dropped to 51.6 last month from 55.2 in February, while business activity and production pulled back to a reading of 58.9 from a solid 63.6.

Fifteen services industries reported growth in March, including retailers, real estate and food services. But three sectors contracted: information, education and scientific and technical services.

The report also raises questions about job gains in the government’s employment report to be released Friday. Analysts predict that report will show 178,000 jobs were added in March, according to data provider FactSet. But a private survey by payroll processor ADP said Wednesday that businesses added 263,000 jobs in March, the most since December 2014.

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NEW YORK, April 05, 2017 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Omega Protein Corporation (“Omega” or the “Company”) (NYSE:OME) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-02448 is on behalf of a class consisting of investors who purchased or otherwise acquired Omega securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Omega securities between June 4, 2013 and March 1, 2017, both dates inclusive, you have until May 1, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased. 

[Click here to join this class action]

Omega is a nutritional products company that purportedly develops, produces, and delivers products to improve the nutritional integrity of foods, dietary supplements, and animal feeds.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:  (i) Omega’s subsidiary was potentially not in compliance with its probation terms; (ii) the Company was not properly protecting whistleblower employees; (iii) as a result of the foregoing, the Company was vulnerable to a Securities and Exchange Commission investigation and potential civil and criminal liability; and (iv) as a result of the foregoing, Omega’s public statements were materially false and misleading at all relevant times.   

On March 1, 2017, post-market, Omega disclosed that in December 2016 it received a subpoena from the U.S. Securities and Exchange Commission seeking information in connection with an investigation of an Omega subsidiary’s compliance with its probation terms and the Company’s protection of whistleblower employees. The Company also disclosed that the investigation could result in a material adverse effect on the Company’s business, reputation, results of operation, and financial condition.

On this news, Omega’s share price fell $6.25, or 23.81%, to close at $20.00 on March 2, 2017.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:

Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

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ALL wise employers understand the value of apprenticeships.

Many apprentices have risen through the ranks to become captains of industry. This year, The Yorkshire Post’s Excellence in Business Awards will honour an employer who is passionate about apprenticeships and really takes time to nurture their staff.

They will be looking to emulate the success of Christeyns, the Bradford-based laundry chemicals manufacturer, which triumphed in the fiercely contested apprenticeship category at the 2016 Excellence in Business Awards.

Christeyns’ managing director Nick Garthwaite, who started his own career as an apprentice, received the award from Michael Portillo, the former cabinet minister turned broadcaster.

This year sees us welcome back global law firm DLA Piper as sponsor. We also welcome new sponsors Doncaster Sheffield Airport and Leeds Beckett University who will back the categories of Commercial Space and Entrepreneur respectively. CNG are also confirmed as table sponsors.

Over the last decade the awards have attracted a host of high profile speakers, including David Cameron, who attended when he was leader of the opposition, and the Chancellor George Osborne.

Other senior figures who have spoken at the awards include the former Shadow Chancellor Ed Balls, and Nick Clegg, the former Deputy Prime Minister. Apart from the apprenticeship category, entries are being welcomed in the following categories:

Companies with a turnover over £50m. Sponsored by DLA Piper: This category honours the commercial giants which conduct business on a vast scale.

Companies with a turnover between £10m and £50m: This award focuses on mid-tier firms which are the real powerhouse of the region’s economy.

Companies with a turnover up to £10m: Our region has a world class collection of SMEs and it is here we honour them.

Commercial space. Sponsored by Doncaster Sheffield Airport: Seeking inspiring uses of commercial space which showcase the real value of world class architects and designers. It can be a new build or an existing project.

Entrepreneur. Sponsored by Leeds Beckett: This award honours a rare individual who inspires others to greatness.

Young Business: Focusing on rapidly growing businesses in our region.

Outstanding Employer: This award recognises those employers that truly value their staff, and reward them in a sustainable way that nurtures the company.

Exporter: The winner of this award is really helping to drive the export-led recovery.

Technology: In this category, we are seeking a winner who harnesses technology to give their firm the edge. They are leaders, and not followers, in the technological arena.

Turnaround: This award honours a business that is flourishing after coming back from the brink.

Diversity: This honours companies that value every employee, and have gone beyond the call of duty to ensure they attract and retain a workforce that reflects the diversity of British society.

Leadership: Nobody forgets a great leader, and this award honours an individual who has displayed courage, tenacity and wisdom in a tough role.

To enter visit: http://www.jpeventsnorth.co.uk/yp/events/excellence-in-business/index.php

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