“Leading retailers called for a major overhaul of business rates yesterday after Next suffered a sharp slump in store sales in the run up to Christmas.
With pressure mounting on ministers to reform the outdated tax, fashion chain Next said sales in its 500-plus stores fell 9.2 per cent over the crucial festive period.
In a clear sign of how shopping habits have shifted, the company said online sales soared 15.2 per cent in the same period, meaning overall revenues were up. …”
“… Calculations by the High Pay Centre thinktank and the professional HR body the Chartered Institute of Personnel and Development (CIPD) show top executives are earning 133 times more than the average worker, at a rate of around £1,020 per hour or £3.9m annually. That’s up 11% compared to a year earlier.
It means CEOs working average 12-hour days would only have to clock in for 29 hours in 2019 to earn the median £29,574 of British staff.
The figures have prompted criticism from both unions and shareholder groups. …”