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FT Journalists Call Off Action After Accepting Improved Pay Deal

LONDON -(Dow Jones)- Journalists at the Financial Times newspaper have called off industrial action that was planned for this week, after accepting an improved pay offer from management, the National Union of Journalists said Wednesday. FT Managing Editor Lisa MacLeod told staff in a letter that the FT, which is owned by Pearson PLC (PSON.LN), will increase pay by between 2.5% and 3.0%, having previously offered 2.0% to 2.5%. Some staff could get an additional 0.5%, known as merit pay, subject to their performance. "The offer had been controversial because a third of the money set aside for the year's increase was to be used as merit pay or for staff retention at the managing editor's discretion," the NUJ said in a statement on its website. MacLeod told staff that the award "recognizes the hard work and vital contribution of our editorial team within the context of an extremely challenging commercial environment," according to the NUJ. In February, Pearson said it expected to increase sales and profit in 2012 despite a tough market, as investment in its digital businesses helped drive full-year adjusted earnings above guidance, although net profit fell to GBP957 million from GBP1.30 billion a year earlier. -By Lilly Vitorovich, Dow Jones Newswires; 44-0-207 842 9290; lilly.vitorovich@dowjones.com

Stock News for Pearson (PSO)
DateTimeHeadline
02/28/201417:03:34ADR Shares End Mixed; Pearson Shares Active
02/28/201412:41:09LONDON MARKETS: FTSE Rises 4.6% On The Month; Pearson Slides
02/28/201409:54:38LONDON MARKETS: FTSE Trims Monthly Gain To 4.5% As Pearson Slides
02/28/201409:45:33EUROPE MARKETS: European Stocks Drop After Euro-zone Inflation...
02/28/201409:42:18EUROPE MARKETS: European Stocks Slip Ahead Of Inflation Data
01/27/201412:18:14LONDON MARKETS: BG Leads FTSE 100 To Five-week Low After Profit...
01/23/201412:50:01LONDON MARKETS: Pearson, Miners Lead FTSE 100 Lower
01/23/201412:13:24EUROPE MARKETS: Weaker China PMIs Spark European Stock Selloff
01/23/201407:54:05EUROPE MARKETS: European Stocks Drop With Earnings; China PMI...
01/23/201404:33:22EUROPE MARKETS: European Stocks Inch Higher After Upbeat PMIs
01/23/201403:50:06Pearson Flags Tough Trading
12/03/201304:20:10Pearson Unveils $720 Million Brazil Buy
12/03/201303:04:10Pearson Buys Brazil's Biggest English-Teaching Firm for GBP440...
11/29/201307:27:08Pearson Sells Mergermarket to BC Partners for GBP382 Million
10/30/201317:54:22ADR Shares End Mixed Following Fed Meeting
10/30/201313:21:26LONDON MARKETS: Barclays, Next Lift FTSE For Fifth Straight Day
10/30/201305:20:03Pearson Warns On Profit
10/30/201304:12:14Pearson Warns On Yearly Profit
10/18/201313:38:08Pearson Seeking Up To $500 Million for Mergermarket -Bloomberg
10/10/201317:10:20ADR Shares End Higher Amid Hints of a Debt-Ceiling Reprieve

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