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Tesco‘s pension fund lost £9bn in value and fell into a deficit after multiple safe investments went sour. In particular, the fund is heavily exposed to so-called Liability Driven Investments. Those LDIs came unstuck in 2022 following a sharp rise in interest rates that left pension funds nursing heavy losses. …

Royal Mail chief executive Simon Thompson has quit after a bitter year-long dispute with the postal workers’ union, the company said on Friday. Thompson, who was in the top job for just over two years, last month finally reached a deal with the Communication Workers Union o pay and conditions …

Wall Street stocks were mostly lower early on Monday as traders braced for another earnings-heavy week. As of 1545 BST, the Dow Jones Industrial Average was up 0.01% at 33,812.01, while the S&P 500 lost 0.14% to 4,127.68 and the Nasdaq Composite came out the gate 0.54% weaker at 12,007.87. …

The Financial Mail on Sunday‘s Midas column touted shares of steel group Billington Holdings. The tipster highlighted the company’s move into multiple high-growth fields, ranging from movie studios to renewable energies, data centres or online warehouses. Among its green projects was the recent construction of energy-from-waste plants, including that at …

People in Britain have more confidence in the EU than the UK parliament, reversing a state of affairs that has lasted for more than 30 years, research reveals. Since the UK voted for Brexit, the proportion of people declaring confidence in parliament has slumped by 10 percentage points to 22% …

Royal Mail issued a threat to put its loss-making postal service into administration, it emerged on Tuesday, amid escalating talks with union chiefs. According to the Telegraph, the postal operator – part of the recently-renamed International Distributions Services – had warned unions that it could place the regulated part of …

Long-running talks between Royal Mail and the Communication Workers Union are on the brink of collapse, with the company’s board thought to have threatened to put the loss-making postal service – the regulated UK entity that delivers to every address in the country – into a form of administration if …

Royal Mail said on Tuesday that its international services have now been restored following a cyber incident last month. This applies to services to all destinations for purchase online, through shipping solutions and over the counter at Post Office branches. Nevertheless, the company cautioned that the delivery of international items …

Royal Mail said it had resumed overseas tracked and signed-for services to all destinations for online customers after the cyber attack by ransomware gang Lockbit, which has links to Russia. The carrier, owned by International Distribution Services, said it had “made further progress in exporting an increasing number of items …

The UK’s impending recession could be twice as bad as previously thought, according to leading economic forecasters at the business consultancy EY. Reduced government support, higher taxes and an overall worsening outlook have all led the firm’s analysts to conclude that the next three years could be worse than they …