Gender equality has stalled, says WEF, as women globally are paid 63% of what men get
The global pay gap between men and women will take 202 years to close, because it is so vast and the pace of change so slow, according to the World Economic Forum.
The WEF, which organises the annual meeting of business and political leaders in Davos, said the global gender pay gap has narrowed slightly over the past year, but the number of women in the professional workplace has fallen. In 2017, the WEF estimated that it would take 217 years to close the pay gap.
Related: Gender pay gap: when does your company stop paying women in 2018?
Related: Carrie Gracie says BBC is blocking pay gap campaigners
IMF chief says increased effort is needed to meet UN’s goal of ending discrimination
Tackling gender inequality will boost economic growth in developing nations, Christine Lagarde has said, as she urged businesses worldwide to appoint more women to senior posts.
The head of the International Monetary Fund said increasing the proportion of women in prominent business and finance industry jobs could raise economic dynamism and shift firms into thinking about the long-term future of the planet.
Related: Sustainable development goals: changing the world in 17 steps – interactive
IMF head says the male domination of banking could lead to another financial crisis
Christine Lagarde has said male domination of the banking industry made the collapse of Lehman Brothers more likely, as she urged further reforms to prevent a repeat of the financial crisis triggered by its failure a decade ago.
Writing on the IMF blog ahead of the 10th anniversary of the US investment bank’s collapse next week, the head of the International Monetary Fund said significant measures had been taken to fix the financial system, although she warned more work was still required, particularly on gender diversity.
She is the first woman to lead the New York Stock Exchange in its 226 years. Faced with falling sales and government pressure, though, she finds the attention to her gender a distraction
The Fearless Girl is on the move. The bronze sculpture of a little girl defiantly facing off against Wall Street’s Charging Bull launched a million selfies and became an unlikely avatar of the #MeToo movement. Soon it will be transported a few hundred metres down the road in downtown Manhattan to confront another symbol of entrenched masculinity: the New York Stock Exchange (NYSE). Stacey Cunningham says she couldn’t be more delighted.
“I think she’s fantastic,” says Cunningham, the 67th president of the NYSE and the first woman to head the male-dominated institution in its 226-year history. “For me, she is a message to individuals, though. I think we need to call ourselves to action, especially as women, not to hold ourselves back.”
Whether or not NYSE is sheltering a marketing operation or a vital financial institution is the least of its problems
Governments and firms urged to spend $7tn by 2030 t0 address gap in social care
The world economy faces a looming “care crisis” risking further division between men and women across the planet, according to a UN report calling for governments and companies worldwide to spend at least an extra $7tn on care by 2030.
Making the case for spending on support for children, old people and the neediest in society to double by the end of the next decade, the UN’s International Labour Organisation (ILO) warned demographic changes alone mean the current path for care funding falls far short of requirements.
Related: Theresa May tells taxpayers to expect to pay more to fund NHS