5 Things You Need To Know (3/8/17)
Welcome to our daily update, where we summarise the key talking points from the last 24 hours.
The Bank Of England has lowered the UK growth forecast from 1.9% to 1.7%, additionally lowering the 2018 forecast from 1.7% to 1.6%.
Governor Mark Carney described the slowdown as a result of Brexit, stating “uncertainties about the eventual relationship are weighing on the decisions of some businesses.”
2. FTSE 100 Pay
It will take 160 years for the average UK worker to earn the typical annual salary of a FTSE 100 boss, a study by the CIPD has revealed.
This represents a 20 year increase on the pay gap since 2015. Tim Roache, General Secretary of the GMB Union, said the figures are “scandalous.”
3. Government withholding record number of documents
The government are withholding a record number of sensitive documents, with an application to hold back 986 documents from 1986 and 1987, which had been due for release to the National Archives.
Government documents are normally released after 30 years has passed, however, exceptions can be made if publication would damage foreign relations or security.
4. Neymar deal held up
The record breaking transfer of Barcelona’s Neymar to Paris St-Germain has been held up after La Liga officials rejected the £198 million bid to pay his buyout clause.
The Spanish league believes PSG are violating UEFA Financial Fair Play rules, but the French club are still confident of completing the deal.
5. Trump transcripts
Transcripts of President Donald Trump’s phone calls have been published by the Washington Post.
The calls, just after he took office in January, include criticism of Australia and Mexico.
“I have had it. I have been making these calls all day and this is the most unpleasant call all day. Putin was a pleasant call. This is ridiculous,” he told Australia’s Prime Minister Malcolm Turnbull.