Tag Archives: business

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 …

The 48-year-old has cited his time growing up during the Velvet Revolution, as the overhaul of Czechoslovakia’s communist government is known, as a driving force behind his love of free markets. Kretinsky trained as a lawyer before joining Slovakian investment group J&T in 1999, where he made his name as …

While Chancellor Jeremy Hunt last night declined to comment directly on the takeover bid, he signalled that the Government would revisit how “former public sector monopolies” are regulated to safeguard the provision of vital services. However, the Labour Party has signalled it is open to Mr Křetínský’s approach. A spokesman …

Costs have not fallen alongside the lower volumes. Royal Mail has blamed the restrictive framework for its hefty losses of £319m in the first half of the year, as well as for a slump in service quality that sparked a record £5.6m fine from Ofcom. Earlier this month, Royal Mail …

His ownership of significant stakes in Royal Mail and Sainsbury’s has forced him to be more open and, in his first British interview last year, he pledged to keep Royal Mail listed on the stock market, saying it was good if “every British citizen can invest in the shares”. Royal …

In a further headache, Royal Mail risks another clash with unions after bruising strikes last year that cost the company £1m a day. The changes are expected to cut the number of delivery routes by up to 9,000 – a move that is expected to lead to around 1,000 redundancies. …

Logistics and mail group International Distributions Services on Tuesday said it had appointed Emma Gilthorpe as chief executive of its subsidiary Royal Mail. Gilthorpe will join the embattled British postal operator on May 1, working with group chief executive Martin Seidenberg before taking over fully later in the summer months. …