Boohoo snaps up Debenhams for £55m; Asos in exclusive talks to buy Topshop – business live

Rolling coverage of the latest economic and financial news as online retailers swoop in on two of Britain’s major high street brands

Cineworld has been dealt a blow after nearly a third of investors voted against a controversial pay plan for its senior bosses.

We acknowledge that there were a significant number of votes cast against the plan and the board will continue to engage with shareholders on remuneration matters in the coming months in light of the feedback received during our consultation.

The economic blow from Covid-19 has cost workers around the world $3.7tn (£2.7tn) in lost earnings, after the pandemic wiped out four times the number of working hours lost in the 2008 financial crisis, according to the UN’s labour body.

The International Labour Organization (ILO) said women and younger workers had borne the brunt of job losses and reductions in hours, and warned that people in sectors hardest-hit by the crisis – such as hospitality and retail – risked being left behind when the economy recovers.

Related: Covid-19 has cost global workers $3.7tn in lost earnings, says ILO

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