Sweden

Global fashion brand Hennes & Mauritz (H&M) says that increasing wages for workers in Asian garment factories is a tough proposition because it would eat into their profits. Following news that the company had fallen short of its first-quarter profit forecasts, the company said that weak consumer demand and stiff global competition make it harder for them to pass the increased costs on to consumers, meaning that the company’s bottom line would take a hit if they paid their factory workers more. The company buys about 80% of its products from Asian countries, including China, Cambodia, and Bangladesh. (Reuters)