Facebook to double London presence, record employment leaves Britain’s poorest behind, and more top news

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Facebook is set to double its London presence after acquiring enough office space to house 6,000 staff. The social network company announced the purchase of nearly 600,000 square feet of office space. Spread across two buildings in King’s Cross, the workspace will be ready by 2021. Facebook did not confirm how many new jobs will be created. The US-owned company added 800 jobs in London last year and expects to employ 2,300 people by the end of 2018.

Britain’s poorest households are worse off than they were 15 years ago, despite record employment levels. New research by the Resolution Foundation showed the average household income in 2017/18 increased by just 0.9%, while the lowest 30% of households saw their income fall as much as ￡150 last year. The foundation pointed to a rise in the cost of living and cuts to benefits, offsetting lacklustre wage growth.

Britain has seen almost 1,300 pubs close down over the last year, amounting to some 25 every week. Altus Group, a real estate advisory, revealed that 1,292 pubs in total have closed, with many converted into either housing or office space. It blamed a lack of support from the government and rising business rates. “The sad reality is that more pubs will continue to call time unless further financial support is provided by the government,” David Shuttleworth, vice president at Altus Group, said, calling for a freeze in business rates for pubs into 2019.

Teachers, doctors and other public sector workers in Britain are likely to get a pay rise after Theresa May moved to scrap her government’s pay cap. Downing Street sources told the Guardian that some state-employed workers could receive pay rises of up to 3.5% a year, while others may qualify for a 2% raise. The deal is unlikely to be enough for trade unions, which wanted a 5% hike. David Cameron froze public sector pay in 2010, and capped it at 1% rise two years later.

Stagecoach is trialling the UK’s first full-sized driverless bus. The single-decker bus will operate autonomously only in depots, and will be able to park and drive itself to refuelling and wash stations. Meanwhile, owners of electric cars have been warned they may face higher energy bills unless they charge their vehicles during off-peak times. Regulator Ofgem has outlined measures in a bid to reduce the impact of electric vehicles on the electricity network.

Idea of the Day: Be true to your values, says Tina Mueller, CEO of German cosmetics retailer Douglas.

“Conventions and shared values give a team or a business a form of consensus, a framework, and behavioural regulation. However, I realised very early on in my career that without authenticity we become like mice on a wheel. A business cannot be successful unless both pillars – convention and authenticity – are supporting it.”

This article has been updated. From earlier: British businesses owned by international investors are up to three-times more productive than those with only UK investors, official figures show. Also: Barclays is planning to create up to 2,500 jobs in Glasgow. The bank is developing a campus in Buchanan Wharf – a move which will double Barclays’ Scottish workforce.

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— Natalie MacDonald