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In today’s top stories, International Distributions Services has blamed striking workers for Royal Mail’s £1bn loss. Elsewhere, Japanese PM Fumio Kishida met with semiconductor industry leaders to discuss his commitment to making the country a hub for chip manufacturing, while BT Group is to cut as many as 55,000 jobs …

REFRESH PAGE FOR UPDATES Royal Mail Royal Mail swung to a £419 million adjusted operating loss after a brutal battle with unions over pay and conditions. The loss compared with a profit of £416m last time. Parent company International Distributions Services reported a group adjusted operating loss of 71 million …

Royal Mail has blamed strike action for helping send it slumping to a full-year loss of more than £1 billion. The group’s owner, International Distributions Services, revealed Royal Mail swung to an operating loss of £1.04 billion for the year to March 26, against earnings of £250 million the previous …

“We have grounds for optimism,” said Keith Williams, chair of Royal Mail’s parent company, adopting a tone that hasn’t been heard from the boardroom in a while. What’s more, you can see what he means. While a full-year “adjusted” operating loss of £419m at Royal Mail is nobody’s idea of …

The Royal Mail share price, whose parent company is International Distributions Services PLC (LON: IDS), fell after reporting a massive £1 billion loss. The news comes just five days after announcing that its CEO Simon Thompson, who came under fire for misleading MPs, would leave the firm in October. YOUR …

The UK’s Competition Appeal Tribunal has allowed DAF to challenge aspects of its decision awarding £17.5 million in damages to BT and Royal Mail, three months after the company failed to fend off what became the country’s first successful follow-on claim against a member of the EU Trucks cartel. To …

Support us and go ad-free As predicted, beleaguered Royal Mail made huge losses during the last financial year. It’s hardly a surprise, given what the Communication Workers Union (CWU) previously called bosses’ “gross mismanagement” of the company. However, Royal Mail’s financial catastrophe throws into question the deal it offered the …

Royal Mail has swung to a £1bn loss and does not expect to turn a profit until 2025, as it races to recover from a dispute with postal workers that contributed to deteriorating delivery standards. A £539mn impairment charge on the value of Royal Mail led to its £1bn operating …

The postal service is being investigated for failing to meet its delivery targets over the past year The group’s owner International Distribution Services (IDS) blamed the downturn on industrial action, which led to an operating loss of £1.04 billion for the year to 26 March, against earnings of £250 million …

(Bloomberg) — Royal Mail reported an operating loss of £1 billion ($1.25 billion) after the beleaguered delivery service endured a long dispute with a trade union.  International Distributions Services Plc, which owns the UK postal service, said industrial action, a weak online retail market and severance costs from redundancies had …