For more than a year, an egalitarian narrative dominated the discussion about US wages. Lower income workers were seeing the biggest pay increases while gains for better-paid employees lagged behind. But the quarterly results posted by banks last week may upend the dialogue. The five biggest American banks boosted compensation by 15% last year, more than twice as much ...

  Bloomberg Aerojet Rocketdyne Holdings Inc. said it’s investigating Executive Chairman Warren Lichtenstein and accused him of launching a proxy fight in an effort to maintain his board position. An internal probe involving Lichtenstein is being conducted under the oversight of a committee of independent directors, the company said in a statement. The investigation is not related to Aerojet’s operations ...

  Bloomberg UK retailers raised their prices at the fastest pace in more than nine years in January, a survey showed, passing on soaring costs to consumers already grappling with a cost-of-living squeeze. The report by the British Retail Consortium suggests inflation is spreading well beyond energy prices, with goods from food to furniture seeing prices driven higher in a ...