Confusion over Bank of Japan move pressures markets – live

Discussion in 'Market News' started by Lily, Dec 18, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Dollar in for wild ride after Japanese central bank’s supplementary measures

    9.30am GMT

    Sports Direct has issued a long list of rebuttals of criticism of its employment practices. More details in my updated story. You can read the company’s statement here.

    8.37am GMT

    Sports Direct has announced it will launch a review of all agency staff’s terms and conditions, to be overseen personally by its founder Mike Ashley.

    The move follows a Guardian investigation, which revealed how temporary warehouse workers at Britain’s biggest sportswear chain are subjected to an extraordinary regime of searches and surveillance. Undercover reporters also came up with evidence that thousands of workers were receiving effective hourly rates of pay below the minimum wage.

    The board takes its responsibilities towards all the company’s stakeholders, be they staff, contractors, suppliers or customers, extremely seriously. Without our commitment to our staff and the implementation of a performance-led culture which encourages success, there is no way Sports Direct would have been able to grow from a single sports shop over 33 years ago to the global retailer it is today.”

    Sports Direct always seeks to improve and do things better, listens to criticism and acts where appropriate.

    With that in mind ... the board has agreed that Mike Ashley shall personally oversee a review of all agency worker terms and conditions to ensure the company does not just meet its legal obligations, but also provides a good environment for the entire workforce. We expect him to start that work in the New Year.”

    8.07am GMT

    European stock markets have opened lower, as expected.

    7.51am GMT

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    The Bank of Japan surprised financial markets on Friday by taking steps to bolster its quantitative easing programme, which it said were supplementary measures.

    Continue reading...

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