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THU 05 NOVMorning5:13 PM

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BIZBBC News

Firms told to publish salaries in job adverts ahead of new law

Photo: BBC

Businesses should publish salaries in job adverts now, Prime Minister Andy Burnham is telling firms, rather than wait for a new law to come in that will force them to do so.

The government is planning to make pay details compulsory in adverts, with legislation on the issue being brought forward "as soon as possible".

It argues the change will help jobseekers, particularly those applying for their first job, and could help prevent pay discrimination. However, one industry group said setting pay was a complex process and regulating adverts was not always suitable.

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BIZThe Guardian

Nasdaq sees worst day in 18 months as investors bet on AI slowdown after Democrats’ election triumph

Nearly $2tn shaved off Nasdaq value as worries of curbs to AI datacenters ripple across bourses The Nasdaq share index had its worst day in 18 months after slumping 5.5% on Thursday amid growing signs that the artificial intelligence industry will face tougher regulation because of the midterm election results. As Wall Street sustained widespread losses, the Nasdaq composite tumbled into “correction territory” – more than 10% below its recent record high – with more than $2tn shaved off its value by the end of trading Thursday. The tech-heavy index had…

BIZBBC News

Interest rates hiked to 4% in first increase in over three years

Interest rates have risen for the first time in more than three years and the Bank of England has signalled a further increase is likely unless the US-Iran war is resolved. Rates rose to 4% from 3.75% in a bid to curb inflation mainly driven by the conflict's impact on global oil prices. Andrew Bailey, the Bank's governor, said the decision "shouldn't be seen as the first in an inevitable long sequence of hikes", but warned "unless the conflict in the Middle East is resolved, neither does it seem likely to be the last increase".

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