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M&S increases pay for its retail staff by 6.4 percent

British retailer Marks & Spencer is making a “significant investment” in its retail staff with an inflation-beating 6.4 percent pay rise. From April 1, M&S will invest more than 70 million pounds to increase pay for its UK retail staff by at least 6.4 percent, a rise of more than double the current rate of inflation. M&S’s hourly pay for retail...

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Business

Cyber attack slashes M&S first half profit by 55.4 percent

British retailer Marks & Spencer (M&S) reported a sharp 55.4 percent decline in first-half underlying profit, a drop that directly reflects the profound impact of a cyber security breach in April. The attack forced M&S to suspend its online clothing orders for seven weeks and severely disrupted its e-commerce platform and backend systems, which...

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