Tag Archives: business

Sam Bankman-Fried has issued a mea culpa in a letter apologising to FTX staff for the collapse of his crypt empire. It comes as US bankruptcy proceedings have revealed that tens of thousands of British traders have been left out of pocket by the implosion of the cryptocurrency exchange FTX. …

Royal Mail has made an improved pay offer in a final effort to avoid 10 days of strike action by post men and women in the run-up to Christmas. The FTSE 250 company is understood to have offered a 9pc pay rise spread over 18 months, rather than two years, …

Royal Mail workers are to launch a fresh wave of strikes throughout December in a round of industrial action set to cause misery for millions of households posting gifts in the run up to Christmas. The walkouts have been organised by the Communication Workers’ Union amid a row with the …

Royal Mail has accelerated plans to axe Saturday letter deliveries by asking the Government to consider changing postal laws to allow a five-day-a-week operation. The postal monopoly, which has a legal requirement under its “Universal Service Obligation” to deliver letters six-days-a-week, is seeking permission for “an early move to five …

The Chancellor will most likely not include business rates relief in his autumn statement this week. Insiders in the government have signalled that Jeremy Hunt will not give into calls to delay the uprating of business rates nor to extend relief from the tax. They are set to rise in …

Royal Mail workers are set to take four days of industrial action over the next two months. Among those affected by the planned strikes is Tom Yendell, a disabled artist. Tom was born without any arms due to a disease called Thalidomide, he now represents 30 disabled artists who create …

The RMT said that it would now enter into “intensive negotiations” to strike a deal with Network Rail. Staff at train operating companies have also cancelled strikes. Mr Lynch claimed victory and said that the RMT action this summer had “made rail employers see sense”. He added: “We have always …

From a standing start roughly three years ago, Openreach’s full fibre network now reaches 9m homes and businesses across the UK, while the pace of engineering is expected to ramp up from 2.6m premises last year to more than 3m this year, and again in 2023. But here’s the bit …

A billionaire Czech investor is expected to push for the end of Saturday letter deliveries and a renewed focus on parcels after ministers gave him licence to tighten his grip on Royal Mail. Daniel Kretinsky, dubbed the “Czech sphinx” for his inscrutable approach to investing, will be free to increase his …

Unions have been forced to call off a wave of planned strike action at Royal Mail after being challenged by the company on a legal technicality.  The Communication Workers Union (CWU), which represents 115,000 Royal Mail employees, said that following a letter from Royal Mail’s legal team, it had decided …