Welcome to your daily dose of business news. Today, we're covering a range of topics from stock market fluctuations to wage disparities and environmental initiatives. Let's dive in.
Argo Blockchain Shares See a Dip
Argo Blockchain plc (LON:ARB) experienced a downturn in its stock value during Saturday's mid-day trading. Shares fell by 4.2%, hitting a low of GBX 3.13 ($0.04) before settling at GBX 3.71 ($0.05). What's noteworthy is the significant increase in trading volume, which surged by 119% compared to the daily average. Is this a buying opportunity, or a sign of deeper troubles? Only time will tell.
Australia Grapples with Gender Pay Gap
The latest report from Australia's Workplace Gender Equality Agency reveals a persistent gender pay gap. Across the country, nearly three-quarters of employers (72.2%) exhibit a pay gap that favors men. On average, Australian women earn $28,425 less than their male counterparts annually. The report indicates that women earn 78 cents for every dollar earned by men. Factors contributing to this disparity include fewer women in senior roles, cultural expectations around caregiving responsibilities, and the undervaluation of traditionally female-dominated industries.
"These figures are a stark reminder that we still have a long way to go in achieving gender equality in the workplace," said a spokesperson for the Workplace Gender Equality Agency.
Greggs Feels the Pinch
British bakery chain Greggs is facing headwinds. The company reported its worst sales growth since the pandemic, citing poor weather and a decrease in snack consumption by Britons. Shares in Greggs plummeted over 10% after the company announced that sales growth at established stores had slowed to 1.7% in the nine weeks since late December. This follows a previous slowdown where growth more than halved to 2.5%. Could a recent price increase in their beloved sausage rolls be partly to blame?
London's Affordable Housing Crisis
Residents of affordable housing in London are facing increasing financial strain. Marco Scalvini, a lecturer living in a shared ownership flat, saw his service charge increase by a staggering 77%, from £4,500 to £8,000 annually. This situation highlights the challenges faced by first-time buyers in London's expensive housing market. Some residents are even forced to use a "poor door," a separate entrance for affordable housing residents, further exacerbating the issue.
Rewilding in Scotland
In more positive news, the Scottish Wildlife Trust (SWT) has received a generous £17.5 million donation from a mystery benefactor. This funding will enable the SWT to purchase the Inverbroom estate near Ullapool in north-west Scotland and transform it into a rewilding showcase. Plans include creating a rainforest, restoring peatland, and ending deer stalking. This ambitious project aims to demonstrate the potential for large-scale ecological restoration in the Scottish Highlands.
That's all for today's business update. Stay tuned for more news and analysis.