Tag Archives: business

The Czech billionaire vying to buy Royal Mail has pledged not to cut any jobs if his takeover bid is successful. Daniel Kretinsky, known as the “Czech sphinx”, has made private assurances that there will be no compulsory redundancies as a result of his swoop on the 500-year-old postal service. …

The audit firm used by Donald Trump’s social media company has been shut down by US regulators after being accused of running a “sham audit mill”. The Securities and Exchange Commission (SEC) charged BF Borgers and its owner Benjamin Borgers with what it called a “massive fraud”. It said that …

The NHS is to use Google’s autonomous drones to fly blood samples between London hospitals in an effort to speed up medical tests. Wing, the drone operator owned by Google’s parent company Alphabet, has been chosen to deliver high-priority samples between Guy’s and St Thomas’ hospitals in south London. The …

The consultation is expected to include questions about a potential ban on the sale of phones to under-16s and the need for parental approval when teenagers download social media apps such as Facebook and Instagram. However, other more stringent proposals that were expected to feature in the consultation are now …

The swoop is also facing opposition from the CWU, which is instead calling for a “new ownership and governance model” for Royal Mail. Mr Kretinsky’s EP Group, which is expected to make a fresh offer ahead of a deadline of May 15 set under City takeover rules, has held meetings …

Thanks for joining me. Thames Water plans to spend nearly £20bn fixing leaks and sewage spills under a new business plan sent to regulators. The beleaguered water supplier, which has £18bn of debt, wants to spend £1.1bn more than previously thought under proposals sent to the regulator Ofwat, known as …

Royal Mail is pressuring regulators to approve plans for less frequent letter deliveries, as the company scrambles to fend off a £3.1bn takeover bid from a Czech billionaire. International Distributions Services (IDS), Royal Mail’s parent company, said foot-dragging by Ofcom had “held back” plans to modernise the company. Keith Williams, …

Apple has reportedly suspended production of vegan phone cases it started selling less than a year ago. The tech giant is said to have stopped making its FineWoven cases and watch straps following complaints that the £59 cases would become easily scratched and worn out. Apple introduced the material, a …

Bosses are understood to be keen to emphasise that the postal service is at an inflection point as it pushes through a turnaround plan for its struggling letters business. Insiders pointed to the company’s strongest Christmas performance in four years, as well as an ongoing review by Ofcom into its …

Labour may see a split as an opportunity to renationalise the Royal Mail, convinced that the state would make a better fist of reviving it. But shorn of the cross-subsidies that a highly profitable parcels operation provides, mounting losses from letter deliveries risk being immediately thrust onto the taxpayer. It’s …