The US jobs report highlights a super hot US economy, underscoring that there is a real risk that interest rates won’t be cut until 2025, the CEO of a leading financial advisory and fintech has warned. The U.S. economy added 272,000 non-farm jobs in May, much more than expected, while Wall Street had forecast an … Read more
Tesco, Britain’s largest retailer, announced a 9.1% increase in hourly pay for store workers, raising the base pay from 11.02 pounds to 12.02 pounds starting April. This pay rise, negotiated with the shopworkers’ union USDAW, surpasses the government’s national living wage increase of 9.8% to 11.44 pounds an hour. Tesco’s London workers will receive 13.15 pounds an hour. The pay rise will cost Tesco over 300 million pounds. Other UK retailers, including Sainsbury’s, Asda, Marks & Spencer, Amazon, Aldi, Lidl, and Costa Coffee, have also announced pay increases for 2024.