Sainsbury’s to hike wages by 5% after ‘biggest ever Christmas’; pound dips after bond sell-off – business live
Rolling coverage of the latest economic and financial newsThe pound is a little weaker this morning, but higher than the lows touched during Thursday’s choppy trading.Sterling has dipped by a third of a cent to $1.227 in early trading, towards the 14-month trough touched yesterday.The UK – which has a huge debt, dismal productivity and growth and a thick layer of unnecessary regulation like continental Europe – still has a debt-to-GDP level lower than other developed economies like France, Italy, Spain and Japan! But the country faces relatively tougher market reaction to its political decisions.I have the feeling that investors somehow continue to blame the UK for its decision to quit the EU.“Our people are fundamental to achieving our Next Level Sainsbury’s plan and we are pleased to announce that we will raise pay for our hourly-paid colleagues by five per cent in the year ahead, split into two separate increases to help manage a particularly tough cost inflation environment.We believe in rewarding our colleagues well for delivering leading service and productivity and we will be the best paying UK grocer from March.” Continue reading...
Rolling coverage of the latest economic and financial news
The pound is a little weaker this morning, but higher than the lows touched during Thursday’s choppy trading.
Sterling has dipped by a third of a cent to $1.227 in early trading, towards the 14-month trough touched yesterday.
The UK – which has a huge debt, dismal productivity and growth and a thick layer of unnecessary regulation like continental Europe – still has a debt-to-GDP level lower than other developed economies like France, Italy, Spain and Japan! But the country faces relatively tougher market reaction to its political decisions.
I have the feeling that investors somehow continue to blame the UK for its decision to quit the EU.
“Our people are fundamental to achieving our Next Level Sainsbury’s plan and we are pleased to announce that we will raise pay for our hourly-paid colleagues by five per cent in the year ahead, split into two separate increases to help manage a particularly tough cost inflation environment.
We believe in rewarding our colleagues well for delivering leading service and productivity and we will be the best paying UK grocer from March.” Continue reading...
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