Business
True cost of becoming a mum highlighted in new data on pay
Femilola MillerMums in England face a “substantial and long-lasting reduction” in earnings after having children, according to new findings from the Office for National Statistics (ONS).
Five years after having their first child, mums’ earnings drop by an average of £1,051 a month compared with their salary one year before having a child.
Mums’ earnings continue to be affected after the births of second and third children.
Rachel Grocott, chief executive of campaign group Pregnant Then Screwed, called the findings “completely abhorrent” and said the impact of the motherhood penalty is “not just unfair – it’s avoidable”.
In the first dataset of its kind, the ONS has looked at the earnings and employment status of mums after having a first, second and third child over an eight-year period from April 2014 to December 2022.
Mums earn £313 a month less on average five years after the birth of their second child, and £689 a month less five years after their third child. Each figure is compared to their salary one year before each birth.
Mums suffer “maximum losses” in the first year after their children are born, when they are more likely to take extended parental leave than dads.
When compared with a mum’s earnings in the year before the birth of a child, the total loss in earnings over five years was:
- £65,618 for a first child
- £26,317 for a second child
- £32,456 for a third child
Femilola Miller, from London, has three children aged seven, five and three.
Before starting a family, she and her husband David had similar salaries, but he now earns £55,000 a year more than her.
Both she and her husband took several months off work after the birth of each child, “but every time my husband went back to work, he got a promotion”.
“Mothers are not compensated even if they return to work full time and are dedicated to their career.”
She believes the motherhood penalty is “engrained in society” and some people enforce the stereotypes “without even realising”, she says, remembering several comments people had made to her about whether she would return to work after having children.
“It was not even a question about what was going to happen to David’s career,” she says.
“I had a career before I had children and I want to carry on working full-time.”
Femilola MillerAlthough the gender pay gap is slowly reducing in the UK, women working full time still earn 7% less than men.
Joeli Brearley, founder of Pregnant Then Screwed, said the motherhood penalty was “a perfect storm of bias, outdated legislation and cultural norms”.
She added “the vast majority” of the gender pay gap is linked to the motherhood penalty, which can be attributed to a number of factors, including:
- unaffordable childcare costs for some families
- an unbalanced parental leave system
- some jobs not offering flexible and part-time working hours
- pregnancy and maternity discrimination
The government has introduced 30 hours a week of funded childcare for working parents and is undertaking a review of parental leave.
New laws also came into force in England, Wales and Scotland last year which give women greater protection against redundancy while pregnant or on maternity leave.
But, according to research from Pregnant then Screwed and Women in Data, up to 74,000 new or expectant mums lose their jobs each year due to pregnancy and maternity discrimination.
Evie JayEvie, 33, from Newcastle, says she feels as though her career is “on hold” until her daughter goes to school.
Evie initially reduced her hours at work when three-year-old Ellie was born, but now works 35 hours a week in the NHS.
She wants to retrain as a therapist, but doing so would mean she could no longer work from home, which isn’t compatible with her childcare arrangements.
She described becoming a mum as “the best thing that’s happened to me, but career-wise, it has been a punishment”.
“You’re expected to be a parent like you don’t work, but work like you haven’t got kids. You can’t win.”
Emma Potts, manager of Market Place Cafe in Stoke-on-Trent, says it is “a really difficult balance” for small businesses like hers to accommodate flexible working, part-time hours or maternity cover.
“We always try to be as supportive as possible, but the reality is that in a small team, flexibility is much harder to manage.”
If staff members were to reduce their hours to part-time, “it would cause real issues”, she says.
“Ultimately, smaller businesses like ours don’t have the luxury of large teams or spare capacity.
“Every shift matters, every deadline matters, and every absence makes a difference.”
Katie Guild, co-founder of Nugget Savings, a business that helps new and expectant parents with financial planning, says the impact of having children can be “shocking” on finances, but there are a number of things parents can do.
This includes checking which benefits you are entitled to and ensuring your employer still contributes to your pension based on your salary as it was before maternity leave.
“Unfortunately, a lot of what we deal with is mothers having difficult situations with their employers and not knowing whether they have a leg to stand on legally,” she says.
“Knowing your rights is really crucial.”
Business
Best Buy’s holiday sales disappoint, but retailer shows progress in growing profits
Sign at the main entrance to a Best Buy store in Venice, Florida.
Erik McGregor | Lightrocket | Getty Images
Best Buy posted mixed results on Tuesday as the retailer’s holiday-quarter sales declined and missed Wall Street’s expectations, but its earnings topped estimates as it showed improved profitability.
For the current fiscal year, the consumer electronics retailer expects revenue to range between $41.2 billion and $42.1 billion, compared with $41.69 billion in the most recent fiscal year. It expects adjusted earnings per share to range from $6.30 to $6.60, after it reported adjusted earnings per share of $6.43 for the previous fiscal year.
Best Buy anticipates that comparable sales, a metric that tracks sales online and in stores open at least 14 months, will range from a decline of 1% to an increase of 1%.
In a news release, CEO Corie Barry said demand for consumer electronics remained lackluster during the gift-giving season, but the company’s internal data indicates that Best Buy’s market share in the industry “was at least flat.”
Chief Financial Officer Matt Bilunas said in his own statement that the company is “excited about the momentum in our business.” But he added that company leaders “expect to continue to navigate a mixed macro environment.”
Shares jumped more than 10% in premarket trading.
Here’s how the retailer did for the fiscal fourth quarter compared with what Wall Street was expecting, according to a survey of analysts by LSEG:
- Earnings per share: $2.61 adjusted vs. $2.47 expected
- Revenue: $13.81 billion vs. $13.88 billion expected
In the three-month period that ended Jan. 31, Best Buy’s net income jumped to $541 million, or $2.56 per share, from $117 million, or 54 cents per share, in the year-ago quarter. Excluding one-time expenses, including charges for its health business, Best Buy reported adjusted earnings per share of $2.61.
Revenue decreased from $13.95 billion in the year-ago quarter. Yet on an annual basis, revenue rose to $41.69 billion from $41.53 billion in the prior fiscal year. Best Buy’s annual revenue declined in the three previous fiscal years.
For about four years, Best Buy has pinned its slower sales on more price-sensitive U.S. consumers, a slower housing market and less tech innovation. All of those factors have caused some shoppers to delay tech purchases, particularly big-ticket items like new refrigerators. Higher tariffs have also added costs for Best Buy, since many consumer electronics are imported.
Comparable sales dropped 0.8% in the fourth quarter as the company saw softer sales of appliances and home theaters. Those declines were partially offset by sales growth in computing and mobile phones, the company said.
Best Buy has leaned into more profitable businesses, including selling ads and offering more merchandise through its third-party marketplace, which launched in August. Barry said in the company’s news release that Best Buy’s advertising partners nearly doubled compared to the prior year and she said the retailer has significantly increased the number of available products on the marketplace.
The company has a scheduled earnings call at 9 a.m. ET.
Business
US-Iran War: India Has Over 50 Days Of Crude Oil Stocks, In ‘Comfortable Position’: Report
Last Updated:
The Indian government has over 50 days of crude oil stocks and is in a ‘comfortable position’. They remain cautiously optimistic about diversification.

Crude Oil
US-Iran War: The Indian government has confirmed that the country has over 50 days of crude oil stocks and is in a ‘comfortable position’, according to a Moneycontrol report.
The MC report added that the government continues to be cautiously optimistic that it is capable of taking domestic steps and diversifying as the need arises.
The government’s comment plays down any concern arising over India’s energy security in crude oil amid the rising tension in the Middle East and complete closure of the Strait of Hormuz.
Global crude shipments moving through the Strait of Hormuz have nearly ground to a halt, disrupting close to 86% of the usual east–west oil traffic and rattling energy markets worldwide.
According to maritime intelligence firms Windward and Kpler, the strategic chokepoint remains technically open, but vessel movement has slowed to a fraction of normal levels. On March 1, just three oil tankers transporting a combined 2.8 million barrels transited the strait — a steep 86% drop compared to the 2026 daily average of 19.8 million barrels.
By early March 2, activity had thinned further, with only one small tanker and a single cargo vessel recorded moving through the primary shipping lanes, underscoring the scale of the disruption.
Brent curde oil futures were also trading over USD 80 per barrel for the past two days, with anticipation to rise in three digit soon.
India is highly dependent on other countries for its crude oil requirements, with imports accounting for around 88–90 per cent of total demand. In 2024, India surpassed China as the world’s largest oil demand driver, driven by rising fuel consumption, particularly in transportation.
So, what happens if there is a large-scale disruption in crude oil supply? Is India prepared to handle such a situation, and for how long?
India has a dedicated special purpose vehicle called Indian Strategic Petroleum Reserves Limited (ISPRL), which is responsible for maintaining petroleum reserves for such emergencies.
The Government of India decided to establish 5 million metric tonnes (MMT) of strategic crude oil storage across three locations.
ISPRL functions under the Ministry of Petroleum and Natural Gas, and the project was executed by Engineers India Limited (EIL). The strategic reserves are situated in Visakhapatnam, Mangalore, and Padur (near Udupi).
These crude oil storages are built in underground rock caverns along both the eastern and western coasts of India. Crude oil from these caverns can be supplied to Indian refineries through pipelines or a combination of pipelines and coastal transport.
Underground rock caverns are considered one of the safest methods for storing hydrocarbons.
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March 03, 2026, 16:14 IST
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