Sainsbury’s has seen off an attempt by a group of shareholders to force it to commit to paying the so-called real living wage to all staff (The Times £). Sainsbury’s shareholders have been accused of ‘prioritising short-term returns’ as they overwhelmingly voted against a call to pay all its workers the real living wage (The Daily Mail)

Campaigners pushing for Britain’s biggest employers to pay their staff the real living wage claim to have sent a powerful message after almost a sixth of shareholders at Sainsbury’s voted in favour of a resolution that would have introduced the policy at the country’s second largest supermarket group. (The Guardian)

The Guardian’s Nils Pratley writes: “On the one hand, [the 16.7% supporting it] was less than the 20% that is often regarded as a minimum target since it obliges a company to engage formally. On the other, a quarter of Sainsbury’s shares are owned by two big investors, the Qatar Investment Authority and Czech billionaire Daniel Křetínský, who were presumably loyal to the board, so an eye-catching figure was probably out of reach anyway.” (The Guardian)

Sky’s Ian King writes: “Investors will have undoubtedly been swayed by the influential proxy advisers Glass Lewis and Institutional Shareholder Services (ISS). The pair, who have in the past been perfectly willing on a number of occasions to advise voting against company boards, agreed that Sainsbury’s would have been hemming itself in by agreeing to commit to the real living wage.” (Sky News)

Retail sales have grown at their lowest rate since February last year as high inflation and the deepening cost of living crisis deter consumers. (The Times £)

Wine production could boom in Britain as the climate crisis transforms conditions to those similar in famous vineyard regions such as France’s Champagne and Burgundy, and Baden in Germany, a new study projects. (Sky News)

Animal welfare campaigners are calling on UK supermarkets to stop selling premium ham, including Parma, produced in “sow stalls” on EU farms. (The Guardian)

China’s ice cream brands outpace inflation with soaring prices – China’s rising ice cream prices come as inflation drives up food costs around the world, after poor weather, the coronavirus pandemic and Russia’s invasion of Ukraine caused havoc in the global food supply chain. (The Financial Times £)

Farmers feel heat as northern Italy suffers worst drought in decades. Lack of rain linked to climate change threatens power generation and agricultural output. (The Financial Times £)

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