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The FTSE 100 bounced back yesterday, boosted by retailers and mining giant Glencore.

Food prices have deflated in the midst of a race to discount items, with German rivals Aldi and Lidl becoming increasingly prominent threats to the market shares of the “big four”.

Today it announced plans to increase its standard rate of pay to £7.36 per hour – an inflation-busting 4% raise that takes its workers above the Government-mandated “national living wage” of £7.20 that will come into force next April.

Thomson ReutersA Sainsbury’s supermarket sign is seen in LondonLONDON (Reuters) – British supermarket chain Sainsbury’s will hand its 137,000 non-management store staff their highest pay increase in more than a decade this month, it said on Thursday, lifting its...