Charting the week: Royal Mail, Tesco and the four-day week

From Tesco's pay rises to Royal Mail's surveillance scandal, we analyse the highs and lows of the business world this week
Boom Bust

High: Tesco workers

Tesco agreed this week to increase pay for its store workers for the third time in 10 months. More than 200,000 store staff will get a 7% uplift in their hourly wages. For staff outside London, that will mean earning £11.02 per hour, while London workers will earn at least £11.75 per hour, with an extra 20p for those in inner boroughs.

The move has been welcomed as a relief for employees struggling amid the cost of living crisis – not least by union Usdaw, which called it a "significant step forward for pay within Tesco retail". A spokesperson added: "It demonstrates the value of employers engaging constructively with trade unions at this incredibly difficult time".