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Asda is facing claims from 400 female employees who are bringing equal pay test cases against the retailer.If the climants win then they will be entitled to six years of back pay and it could open the floodgates for more cases to be brought against other supermarkets.Michael Newman from lawyers...
Economic forecaster the EY ITEM Club has said that wages could rise by more than inflation as early as this month.It will be the first time in six years that earnings have exceeded the cost of living.In a statement, EY said: “We expect wage growth to overtake CPI inflation as...
The former Co-operative Group director Lord Myners has said that he wants to see the group survive and that he supports its model of governance.Lord Myners, who was made a director in December but resigned last week after his suggestions for reforming the group’s management hit resistance.In an open letter...
Japanese camera firm Olympus is being sued by six banks for fraud, following 2011’s accounting scandal that revealed losses at the firm dating back to the 1990s.The banks are seeking compensation of 28bn yen ($273m; £164m) over false financial statements which were made from 2000 to 2011.The fraud was brought...
An new agreement between a group of French employers and unions will protect workers from having to answer work emails out of office hours.The new rules mean that employers covered by the agreement cannot force staff to check messages or emails after 6pm or before 9am.France is currently the only...
Uniqlo owner Fast Retailing has said that full year profits are likely to be lower than previously thought.Shares at the Japanese retailer dropped 6.5% at the open of trading in Tokyo after it confirmed that sales in its home market were lower than expected.The group’s international operations are performing well,...
Games Workshop has said that trading is continuing “broadly in line with expectations” In a statement covering the four month period from 2 December 2013 to 6 April 2014.In January, the firm reported a drop in profits and revenue for the preceding six months as falling sales and the cost...
Mothercare has said that profits for the full year are expected to be in line with current forecasts following a rise in sales for the fourth quarter.In an “encouraging” trading update, the group said that group reported sales were up 0.6%, a rise from the 6.1% fall in the previous...
Marks & Spencer has said that its womenswear division was showing “clear signs of improvement”, outperforming clothing in general in the fourth quarter.In the 13 weeks to 29th March, group sales rose 1.9%, with a 2.5% rise in food sales and a 0.2% rise in general merchandise.Marc Bolland, chief executive...
The former City minister Lord Myners has quit the board of the Co-operative Group after the company declined to take on his suggestions for reforming the business.The move comes after the resignation of group's chief executive, Euan Sutherland who left after branding the Co-operative Group “ungovernable” in its current form.Lord...
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