Royal Mail has been granted permission by the communications watchdog to slow down first and second-class letter deliveries as part of a cost-cutting measure. As of the end of July, Ofcom’s new regulations will permit Royal Mail to deliver second-class letters on alternate weekdays from Monday to Friday, rather than …
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Bain Capital, one of the world’s leading private equity firms, has reportedly initiated a takeover bid for defence group Chemring. The news was first reported by Sky News’ Mark Kleinman, who stated that Bain has submitted at least one proposal to acquire the FTSE 250 group, which is utilised by …
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Mining behemoths Rio Tinto and Glencore reportedly held merger talks last year, according to the Financial Times. The discussions, which took place as recently as October, did not progress further. A potential merger between Glencore, with a market cap of £46.47bn, and Rio Tinto, valued at £164.99bn, would represent one …
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The owner of Royal Mail is on track to return to profitability as its protracted sale to Daniel Kretinsky nears completion, buoyed by a significant increase in parcel deliveries over the festive period. International Distribution Services (IDS) reported that Royal Mail’s “successful Christmas period” resulted in the processing of 188m …
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The Post Office is forecasting a record-breaking number of personal cash withdrawals this month, expected to exceed £1bn. This prediction surpasses last year’s record numbers during the festive shopping season, with December 2023 witnessing a total of £930m in cash withdrawals, as reported by City AM. The latest figures showed …
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The Post Office has unveiled plans for a significant revamp that includes the shuttering of 115 branches, posing a risk to hundreds of jobs. Unveiled earlier today, the transformation strategy is set to increase the income of UK postmasters by as much as £250m per year by 2030, as reported …
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