In Westminster, the shadow chancellor, John McDonnell, said: “If these allegations of breaches of the national minimum wage by Sports Direct are true, then it should be setting off alarm bells at HMRC. The stock market value of News Direct has fallen by over £ 500 m as its shares fell by 13 % after workers were shown to be receiving effective hourly rates of pay below the minimum wage . Ashley Hamilton Claxton , a corporate governance manager at Royal London Investment Management , said that if the company continued to ignore the issues , it ran the risk of “ eroding shareholder value ” .
The stock market value of News Direct has fallen by over £ 500 m as its shares fell by 13 % after workers were shown to be receiving effective hourly rates of pay below the minimum wage . Ashley Hamilton Claxton , a corporate governance manager at Royal London Investment Management , said that if the company continued to ignore the issues , it ran the risk of “ eroding shareholder value ” .