German discount supermarket Aldi has increased the wages of its 28,000 UK staff for the third time in a year. From July, they will receive a minimum of £11.40 ($15.13) per hour, with those based in London earning at least £12.85. The new hourly rate is more than 13% higher than a year ago, and will make Aldi the UK’s highest payer of retail staff. Earlier in 2018, Aldi also hiked wages for 7,000 warehouse workers by up to 20%. Sainsbury’s raised hourly pay for staff to £11 in February, while Tesco and Asda have also raised remuneration recently.
Discount retailer Home Bargains saw a fall in profits in the year to June 2022 from £393m to £293m. The company said sales increased by 2% to £3.41bn over the same period, due to the opening of new stores. The firm, which has almost 600 outlets in the UK, plans to increase its estate to 1,000.
Swiss bank Credit Suisse experienced a share price slump of over 10% on Friday, despite an injection of £45bn from Switzerland’s central bank. On the same day, the FTSE 100 dropped over 1%. There are now concerns that the expected rise in interest rates by the Bank of England could be scrapped.
A report by the Royal Society for Public Health (RSPH) claims that online influencers using social media to promote products are undermining children’s health. The organisation argues that children exposed to videos of influencers eating junk food, for instance, were “significantly more likely” to eat such products. The research also claimed that some influencers aimed their promotional activity at children under 16, despite stating that their products were intended for adults only. The RSPH called for clearer disclosure of paid-for content, and for restrictions on how products can be promoted to children.