What is this little lock icon next to my battery life on my iphone?

I recently updated to the IOS 7 and today this appeared on my phone and then my location services started to mess up. What is this icon and how do I turn it off?

That's portrait lock. It keep your screen from flipping when you turn your phone. Starting from the bottom of your screen slide up so that the settings pop up. In the top right corner click the same symbol and it will turn it off

It means that no matter how you turn your phone, the screen itself won't turn with the phone…

Say you're looking at an image while holding your phone vertical, and you decide to turn the phone horizontal, the image will remain vertically aligned with your phone, and will not turn the 90 degrees you turned the phone.

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