A round-up of recent news from the UK and overseas, including:

London Most Entrepreneurial in the UK

Almost a fifth of Londoners are considering starting their own businesses because of the recession, according to a YouGov survey.

News from the UK and around the world

Poor Prospects for UK School-leavers

UK School-leavers could face the bleakest employment prospects since the economic crisis of 1929, a new report warns. One in five teenagers collecting GCSE results could be claiming Jobseeker's Allowance by the age of 21 if the UK job market continues to deteriorate, according to the research by the Prince's Trust and the University of Sheffield. The report, which makes predictions based on trends recorded during previous recessions, says the number of young people seeking unemployment benefit may double to one million. Those with the fewest qualifications would be the hardest hit and in danger of becoming "a lost generation" said the Prince's Trust, as people leaving school with no GCSEs are twice as likely to sign on the dole. Last week's official jobless figures reached a 14-year high of 2.44 million, with 928,000 unemployed in the under-25 age group.

London's Small Businesses Bullish About Recession

The findings from Business Link in London's new Diverse Business Confidence Index (the Index), the first of its kind, surveyed over 3,000 small businesses in London and found that 84 per cent are planning on expanding and growing their business over the coming year. For the first time, the index identifies variations in how the recession is affecting London's small businesses by sector, sub-region, business type and business ownership (gender, Black, Asian & Minority Ethnic (BAME), Deaf and disabled). Nearly two thirds of entrepreneurs surveyed said that the recession is still affecting their business with 39 per cent saying the recession has significantly impacted overall budgets and expenditure. Making up nearly 99 per cent of London’s business sector, these businesses create half of all the capital's jobs.

Rise in Entrepreneurs in USA

Increasing numbers of unemployed in the USA are taking the entrepreneurial route. The most recent Index of Entrepreneurial Activity by the Kauffman Foundation showed a slight uptick of new businesses in 2008 — a full recessionary year — over 2007. An average of 320 Americans out of 100,000 formed a business each month, Kauffman said. What's more, it found, the patterns "provide some early evidence that 'necessity' entrepreneurship is increasing and 'opportunity' entrepreneurship is decreasing." Accidental or by design, entrepreneurship is on the rise again this year. LegalZoom, the online legal document service, says the number of new businesses it helped to form was up 10 percent in the first half of the year, compared with the period a year earlier. LegalZoom's top five areas of incorporation, he says, are real estate, consulting, Internet (including electronic commerce), retail, and construction and contractors. Despite the risks of starting a business in a recession, many companies with billion-dollar market capitalizations were started during a recession, the report said, including Starbucks, Intuit and PetSmart. Research from Kauffman in June found that more than half of the companies on the Fortune 500 list in 2009 and nearly half of the companies on the Inc. magazine 2008 list were founded during a recession or bear market. Source: New York Times

Schools 'are key to tackling pay gap'

A failure to break down stereotypes at work is responsible for the continuing gender pay gap, according to a report by the Women and Work Commission. Women are paid 22.6 per cent less than men on the measure of median earnings. While this figure has fallen from 27.5 per cent 10 years ago, the gap has widened since 2007, when it was 21.9 per cent. The key to reducing the gap is tackling career stereotypes among schoolgirls and advancing the work-life balance agenda in the private sector, says the think-tank. An alternative measure, which takes into account only full-time work and is preferred by government statisticians, places the pay gap at 12.8 per cent. This has also gone up since 2007, when it was 12.5 per cent.

Social Networking Popular amongst HR Decision Makers

Eight out of ten HR decision makers now belong to online communities or social networking sites, according to new research by Communications Management. The new report 'Senior, Savvy and Social: HR and online social networking,' indicates a significant shift towards online social networking in HR. The findings from the public relations consultancy reveal that HR professionals are using online social networking for focused and commercial purposes, with 32% claiming to have already asked for supplier recommendations through it. More than a quarter have become aware of a supplier this way. Moreover, 28% of respondents have used online networking to share advice or guidance with peers. The report also shows that increased numbers of HR professionals are likely to use online social networking in the future. Of the respondents, 52% say they expect to move towards online social networking in the next year, whereas 20% plan to use it less. Communications Management suggests that these findings indicate the impact of the recession on the way companies operate. Furthermore, they claim that offline networking will always be present in the future of firms, but online social networking will aid the future flexibility of organisations.

Green Shoots in UK Senior Executive Search

Increased activity within the senior executive recruitment industry shows the beginning of recovery in the technology, financial and consumer goods sector. The latest second quarter data from the Association of Executive Search Consultants (AESC) reveals a 1% rise over the first quarter of 2009, attributable to increased searches in technology, financial services, consumer and non-profit. Senior executive searches in the technology and financial sectors, which both saw quarterly declines in Q1 2009, rose 4% in Q2. Similarly, the consumer goods sector witnessed its first green shoot with a 1% increase from Q1 levels.

'Are Bankers That Bad' - Poll Results

A poll by website ‘Hereisthecity.com’ of over 3,000 bankers revealed that 51.2% of respondents agreed or totally agreed with the statement that unethical behaviour was rife in the financial markets, while 5.3% totally disagreed. 28.1% of respondents agreed or totally agreed with the statement that racist behaviour was rife in the financial markets, while 18.3% disagreed. 57.3% of respondents agreed or totally agreed with the statement that sexist behaviour was rife in the financial markets, while 6.1% totally disagreed. 35.6% of respondents agreed or totally agreed with the statement that homophobic behaviour was rife in the financial markets, while 21.5% disagreed. 51.9% of respondents said that they agreed or totally agreed with the statement that drunken behaviour was rife in the financial markets, while 8.9% totally disagreed. 41.7% of respondents agreed or totally agreed with the statement that the use of drugs was rife in the financial markets.

UK Graduates choose Retail over the City

Supermarkets are expanding their graduate recruitment programmes as students turn their backs on jobs in the City. Sainsbury’s will increase its graduate intake by 30 per cent to 85 places in 2010, up from 65 this year, while discount retailer Aldi will increase placements from 90 to 120. Tesco is keeping graduate numbers roughly the same at 200 but this still goes against the grain of the largely contracting graduate jobs market. Sainsbury’s received 180 applications during the first week of opening the schemes, without any on-campus marketing, and the number of students registering interest jumped to over 1,300, up from 250 last year. Applications for Tesco's 2009 graduate programme were up 41 per cent on the previous year. Graduate starting salaries at supermarkets are also becoming more competitive. At German-owned Aldi, graduates earn £40,000 in their first year, rising to £60,000 after three years, while Tesco graduates that make it to store manager level can expect to earn £47,000 within four years. Last year the average graduate starting salary across all sectors was £25,000, according to the Association of Graduate Recruiters. Those in investment banks began on £35,000.

Travel Does Broaden the Mind

Travelling overseas while young can have a life-long impact on people from disadvantaged backgrounds. That's the key finding from research by the Institute of Public Policy Research (IPPR) examining the long-term impact on former participants from disadvantaged and working-class backgrounds who had travelled a broad with the youth and education charity, Raleigh International. Consulting more than 100 former Raleigh 'venturers' from disadvantaged backgrounds, who had been on expeditions between 5 and 15 years ago, the study included young people who had experienced a range of difficulties including homelessness, drug and alcohol problems, mental illness and violence. The report found that mixing young people from different social backgrounds increased aspirations and interest in education and learning. The study also discovered that intensive experiences and breaks have the potential to widen young people's horizons and networks and break away from destructive influences and patterns of behaviour. 94% said their understanding of other people's cultures and backgrounds increased. 81% said their experienced increased their friendships with people from different backgrounds.

UK City Recruitment Market Improving

Recruitment in the City of London has improved in recent weeks but it is not a recovery says veteran headhunter Robert Walters. His recruitment firm Robert Walters reported a pre-tax loss of £2.6 million in the first half. In 2008, the firm made first-half profits of £9.8 million.

London Most Entrepreneurial in the UK

Almost a fifth of Londoners are considering starting their own businesses because of the recession, according to a YouGov survey. A poll of 2500 Britons revealed that London's workforce is the most entrepreneurial in the country, with 19% having started or looking to start a new business in the downturn, compared to 11% in Scotland.

SAP Named Highest-Ranked Software Company in 2009 Dow Jones Sustainability Indexes

SAP has announced that for the third consecutive year it has been named as the leader of the software sector of the Dow Jones Sustainability Indexes (DJSI), comprising the Dow Jones Sustainability Index World and Dow Jones STOXX Sustainability Index. For the software sector, DJSI reviewed the social, economic and environmental aspects of 34 software companies. Compared with the 2008 rankings, SAP improved in all three aspects and had sector-leading scores in 12 of the 20 key dimensions, including operational eco-efficiency (where it scored 100 percent), brand management, human capital development, corporate citizenship and codes of conduct. SAP also received a 100 percent rating for its environmental reporting, driven by its innovative and interactive online sustainability report. The DJSI follow a best-in-class approach and include sustainability leaders from each industry on a global and regional level respectively. The annual review of the DJSI family is based on a thorough analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, branding, climate change mitigation, supply chain standards and labor practices. As part of its focus, SAP committed to an aggressive goal of reducing its carbon footprint to year-2000 levels by 2020, representing a nearly 50 percent reduction from SAP's 2007 carbon emissions.

Abbott Again Named One of the 'Best Places to Launch a Career' by BusinessWeek

For the fourth consecutive year, Abbott has been named one of the "50 Best Places to Launch a Career" by BusinessWeek magazine. The list highlights companies that excel at offering a superior workplace for entry-level employees. This year, Abbott moved up to No. 13, and was once again the top-ranked health care company on the list. Abbott has Many entry-level employees participate in Abbott's Professional Development Programs, which are two- to three-year programs that rotate new employees through several different positions across multiple divisions and locations in the areas of engineering, environmental health & safety, finance and accounting, human resources, information technology, manufacturing operations, marketing and quality. These programs provide graduates with the opportunity to experience a variety of challenging assignments and develop well-rounded skills before they settle into a long-term career choice, while making meaningful contributions to Abbott's business. Training and development are integral parts of the program, and participants also have the opportunity to interact with, and be mentored by, senior Abbott leaders. In addition to being included in BusinessWeek's "50 Best Places to Launch a Career," The company employs more than 72,000 people and markets its products in more than 130 countries.

Dow Jones Sustainability Index Ranks Barrick as World Leader

Barrick Gold Corporation has been named to the Dow Jones Sustainability World Index, ranking the company as a top performer in corporate social responsibility worldwide for the second consecutive year. Barrick was first listed on the prestigious DJSI World index in 2008, and has been part of the North America listing since 2007. The renewed listing on both indices reinforces Barrick's position among the most sustainability-driven companies in the world. This year, Barrick introduced a new Community Relations Strategy and Guidelines for Local Procurement. These policies assist operations and projects in implementing world class community relations programs and help to maximize the company's contribution to economic development. In 2008, Barrick purchased $5.7 billion in local and regional good and services - $2 billion in developing countries alone - which supports the growth of the business sector and creates employment. Last year, over $9 million was invested in community development infrastructure such as schools and hospitals. Barrick is currently implementing a global Climate Change program - one of the first in the gold mining industry - as well as water and energy conservation policies.

Britain Struggles to Compete at University Level

Britain is falling down global university graduation rankings, a report suggests. The UK is struggling to keep up with other developed countries as they continue expanding their higher education. Britain fell from third in the graduation rate table in 2000 to joint 11th position – alongside Japan and the Slovak Republic – in 2007. The average graduation rate across all OECD countries has doubled in these years, while Britain climbed by just 2% - to 39%. Some 420,000 students will start degree courses this autumn but the report suggests that 257,000 will drop out before graduating.

Labour Market 'at turning point', says Report

The labour market is showing signs of recovery, with employers reporting positive hiring intentions for the first time in three years, according to a new report. The survey of 2,100 UK employers found that 80 per cent anticipated no change in headcount over the next three months, while 9 per cent intended to increase the numbers in their workforce. This raised the net employment outlook (the balance between reducing staff levels and hiring) to -2 per cent, up from -6 per cent the previous quarter. The report, by recruitment specialists Manpower, also noted that employers in finance and business services were sending "positive signals" for the first time since the collapse of investment bank Lehman Brothers in September last year. Employers in four out of the nine sectors surveyed reported positive hiring prospects over the next quarter but there was significant regional variation, with employers in the north-east being the most optimistic. Firms in the West Midlands remained the most downbeat, while in London recruitment intentions also declined. The Manpower report also found further evidence of the impact of the recession on younger workers, now dubbed a "lost generation". Cahill said employers were using more experienced workers to fill roles traditionally resourced by graduates or first jobbers.

City Women Earn 80% Less in Bonuses than Men

Women working in banks are paid 80 per cent less in bonuses than their male colleagues, a new report has found. The inquiry into 50 leading City firms also found that starting salaries for women working in the financial sector were significantly lower than men. Overall, including bonuses and salaries, the gender pay gap in the City stands at 47 per cent, compared with a national average of 17 per cent. Women employees earned an average of £2,875 in performance-related pay every year, while their male counterparts earned £14,554, according to the report by the Equality and Human Rights Commission (EHRC). In 86 per cent of responses to the inquiry, from firms representing 23 per cent of the financial sector's workforce, women had begun their jobs on lower salaries then men. A key factor behind the difference in pay is believed to be the sector's age profile, with most workers aged between 25 and 39, the age at which women tend to have childcare responsibilities. The inquiry also revealed that less than half of the firms were making any effort to address the gender pay gap and less than a quarter (23 per cent) had undertaken an equal pay audit.

A "Creative" Way for Manchester's SMEs to Beat Recession

An innovative £600,000 pilot programme has been announced to help Manchester-based small businesses make the most of the city’s booming creative industries sector. From October 2009, innovation support body NESTA's (National Endowment for Science, Technology and the Arts) Creative Credits scheme will offer SMEs £4,000 to buy services and expertise from a local creative firm. Participating businesses will be expected to add to the £4,000 grant with £1,000 from their own pockets. NESTA is introducing the initiative because it believes the innovation of creative industries companies can drive forward business performance in other sectors, especially in terms of developing new products and processes. A total of 150 firms will take part in the programme, with an initial application round set to start early in September, followed by a second wave in February. The programme officially opened to applications from 9 September and interested businesses are asked to email creativecredits@nesta.org.uk for further details.

New Charity Website Launched

See the Difference site aims to raise £250 million for charities using short films. The site intends to establish a video library about charities’ work allowing the public to view how their projects are run. Registered charities will be able to upload their videos to the site enabling users to search the films before deciding whether to make a donation. The site will be up and running this year but will be formally launched in 2010. It is expected to meet its £250 million target within five years. Donations can be made to the site using a service operated by Virgin Money Giving. According to the founder, by having all charities together in one place and showing users what they are up to, people will be able to decide and understand where they put their money and how it will be used.