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as of today, the bosses of britain s biggest companies will have made more money in 2024 so far than the typical worker makes all year. and that pay gap is growing. the average pay of the top ftse 100 chiefs amounts to £3.81 million per year, including pensions according to the think tank, the high pay centre. that s equivalent to wait for it £1,170 an hour 109 times the average worker whose median annual salary is just under £35,000. sorry to upset your lunch or dinner. joining me now is chris roebuck a global leadership expert who has worked in major organisations assessing senior leaders performance. hello, lovely to have you with us on the bbc. that will be tough to swallow, won t it? are those figures justified? i swallow, won t it? are those figures “ustified? ~ , ., swallow, won t it? are those figures ustified? ~ , ., ., ., justified? i think you need to ask the question. justified? i think you need to ask the question, lobbyists - justified? ....
that s according to the think tank, the high pay centre who have calculated that the average pay of top bosses will overtake the average full time workers annual pay by 1300 gmt today. joining me now is susannah streeter. happy new year. anybody looking at those and struggling on an annual salary of 34,963, the average, will be aghast. take a through the figures. be aghast. take a through the fiaures. . , be aghast. take a through the fiaures. ., , ., , be aghast. take a through the fiaures. . , ., ,, figures. it really does stick in the craw, figures. it really does stick in the craw. doesn t figures. it really does stick in the craw, doesn t it? figures. it really does stick in the craw, doesn t it? this figures. it really does stick in the craw, doesn t it? this has - figures. it really does stick in the i craw, doesn t it? this has come out today and at a time when the cost of living crisis is still swelling in the uk and the ftse 100 has also the uk and the ....
if you have joined if you havejoined us, you are welcome and we are looking at the top business stories. we start here in the uk, where there is some relief for millions of people facing soaring housing costs. lenders have started the new year by slashing the cost of mortgages as financial markets bet the bank of england will soon begin to cut interest rates from their 15 year high. from today banking giant hsbc becomes the first major lender to bring back mortgages below 4% since last march. it comes as rival halifax slashed almost a percentage point off some of its mortgage rates this week. and it s raised hopes of a price war between banks. hsbc is offering a five year fixed rate mortgage at 3.94%. it s only available to people remortgaging their home not to first time buyers. but it s far below rates of almost 6.5% that borrowers were facing just a few months ago. and it will be a welcome development for many uk households as our cost of living correspondent kevin ....
On foreign factories. michelle, thank you very on foreign factories. michelle, thank you very much - on foreign factories. michelle, thank you very much indeed. i on foreign factories. michelle, - thank you very much indeed. michelle fleury there. let s stay in the us because spacex the rocket company run by multi billionaire, elon musk is in trouble with labour authorities. it s being accused of unlawfully firing eight workers who were critical of mr musk. 0ur reporterjoao da silva has the details. this complaint started with an open letter addressed to spacex s executives in 2022. the letter focused on a series of tweets by elon musk, some of which were sexually suggestive. in the letter, the employees accused mr musk of being a distraction and an embarrassment. they said the ceo s statements were not in line with the space company s own policies on diversity and workplace misconduct. now, according to the complaint that has been filed with this us labour agency, before lawfu ....
In december when they issued projections as to where the rates are going in 2024, and that suggested probably three rate cuts between now and the end of this year. the markets themselves are looking for somewhere along the line of six rate cuts. i don t think they are going to get that but where they meet in between is going to be extremely important. the economy is holding up well. gdp now, which is put out by the federal reserve in atlanta, suggests the economy is growing at 2.5% clip, it grew 4.9% in the three months that ended in october. so we are a long way from recession. and i think, if thejob market can hold up, and inflation can continue to slow as it has been doing, the fed can delicately cut rates at a quarter of a point at a time and not really cause too much disruption. let s stay in the us because spacex the rocket company run by multi billionaire, elon musk is in trouble with labour authorities. it s being accused of unlawfully firing eight workers who were critic ....