Friday newspaper round-up: Gender gap, high streets, Aviva, oil prices
Hundreds of companies are being pursued by Britain’s equality watchdog after failing to file gender pay gap data on time. This year, for the first time, all companies and public bodies with more than 250 employees were legally obliged to publish the gap between the average amount paid to a man in their business compared with the average for a woman. The data compares men in all roles with women in all roles, rather than those in similar jobs, in a bid to highlight the prevalence of men in high-paid and management roles and to encourage companies to make changes. – Guardian
A cross-party group of MPs is to investigate how to revive England’s ailing town centres which are under increasing threat from online shopping and the financial problems facing some of the biggest high street names. The housing, communities and local government committee has invited submissions to an inquiry that will consider what high streets and town centres could look like by 2030. – Guardian
The Ministry of Defence's refusal to admit to a £21bn black hole is putting Britain’s national security at risk and making it impossible for arms companies to plan for what the military can actually afford. The claim comes in a damning report by the MPs who make up the Government’s spending watchdog committee. In it they attack the 10-year “equipment plan” setting out defence spending priorities, saying the MoD “simply does not have enough money to buy all the equipment it says it needs”. – Telegraph
Dropbox said the number of subscribers opting for paid-for versions of its cloud-based software jumped 24pc in the first quarter of 2018, in what was a maiden set of results for the company since going public. The San Francisco-based group said paying users hit 11.5 million in the three month period, up from 9.3 million the same period a year earlier, and it made $114.30 (£85) in revenue from each of those users on average, compared to $110.79 last year. - Telegraph
The chairman and other non-executive directors of Britain’s biggest general insurer could have some of their fees docked in an unprecedented move to atone for the disastrous preference shares episode in March. Sir Adrian Montague, chairman, conceded that all board members could be penalised after coming under pressure from investors, who accused them of being responsible for “a fiasco” and a “calamitous and self-inflicted” wound at the annual meeting yesterday. – The Times
Oil prices could rise to $100 a barrel, an American broker forecast yesterday, amid the prospect of renewed sanctions on Iran. Bank of America Merrill Lynch raised its average forecast for Brent crude, the international benchmark, for this year and next to $70 a barrel and $75 a barrel respectively but said the price could hit $100. – The Times