Today’s Solutions: October 17, 2021

Worklife

Ikea raises pay for workers, encouraging wide campaign for better pay

Ikea has announced it will pay its UK staff the living wage. The decision by the Swedish home furnishing retailer is a big boon for a nationwide campaign to raise low wages. Ikea will pay its staff a minimum of £9.15 an hour in London and £7.85 across the rest of the UK. More than 4,500 employees Read More...

Norway to go ahead with biggest coal divestment yet

The fossil fuel divestment movement, which has been taking off since the beginning of this year, just received its biggest boost yet. Norway’s Parliament agreed to sell off all coal investments from its $900-billion sovereign wealth fund. The move will affect some 122 companies to the tune of Read More...

Bitcoin to facilitate money transfers from developed to developing countries

Money transfers from developed countries to developing ones dominate the $582-billion global remittance market. In 2014 only 5 percent of transactions were digital, but the trend is shifting rapidly as mobile phones are becoming ubiquitous in developing countries. Digital transactions offer Read More...

Divestment from coal is good business for French insurance giant Axa

The international fossil fuel divestment movement has been growing steadily, ahead of the U.N. Climate Summit in Paris later this year. The most recent announcement comes from French insurance giant Axa, who is slated to sell $559 million of its coal investments, while having committed over $3 Read More...

NASDAQ marketplace experiments with Bitcoin technology

The digital currency Bitcoin is revolutionary because it operates as a decentralized system where transactions take place directly. No intermediaries require. “Blockchain” is the technology underlying the system, by which each transaction is recorded in a public ledger. A recent, fascinating Read More...

Bitcoin’s new competitor to be backed by gold

Digital currency Bitcoin has blazed a new trail away from the established monetary system. In its wake, metals and technology company Anthem Vault is to launch the Hayek on May 25. The new cryptocurrency will be valued at 1 gram of gold at the day's market price, serving “as a more secure store Read More...

Home loans in India help families excluded from formal banking system escape poverty

Informal workers make up more than four fifth of India’s labor force. Many struggle to make ends meet. For them, poverty typically perpetuates since banks don’t invest in poor people living off an informal income. Exclusion from home loans means being forever at the mercy of landowners in the Read More...

Small-business lending: local community's involvement makes banks obsolete

Community Sourced Capital, a startup based in Seattle, WA, connects small businesses with members of the community who are eager to support their local economy. Loans are repaid with no interest, while CSC takes fees. The goal is to step into the space that banks have left vacant since the Read More...

African migrant workers use bitcoin to send money home

When migrant workers send money home to relatives in Africa, they typically pay 12.3 percent to money transmitters. It’s a big business. Overseas Development Institute estimates the total annual fees paid to money transmitters to be $1.4 billion. These businesses have now found a competitor in Read More...