Ofcom hands Royal Mail price-setting powers

LONDON (Reuters) – Royal Mail will be able to set prices for most of the letters and parcels it delivers under a new seven year framework, industry regulator Ofcom said on Tuesday. Royal Mail, earmarked for privatisation, made a 41 million pounds ($65.34 million) operating loss on letters and parcels in the six months to September 25 as it fights against the rising use of email hitting its …

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