The future of Royal Mail is set to be hamstrung by surging interest payments following Daniel Kretinsky’s debt-fuelled takeover of the postal service. The £3.6bn offer from Mr Kretinsky – known as the “Czech sphinx” – for Royal Mail’s parent company International Distribution Services (IDS) risks trebling its borrowing costs …
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Royal Mail has said its sale to the Czech billionaire Daniel Kretinsky risks triggering a financial squeeze, raising fresh fears about the potential threat to the postal service from his debt-fuelled takeover. Parent company International Distribution Services (IDS) has said that nearly £2.4bn of loans could be called in as …
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The regulator said some adverts were still promoting the benefits of buy now, pay later without also warning it risked causing debt, poor credit ratings and charges for late payments. All adverts in the sector must be approved by a firm authorised by the FCA, which has changed or banned …
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The world has never been more indebted after a year of battling Covid-19. And there’s even more borrowing ahead. Governments, companies and households raised $24 trillion last year to offset the pandemic’s economic toll, bringing the global debt total to an all-time high of $281 trillion by the end of …
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European institutional investors and bond managers are moving up the risk spectrum, favouring emerging market debt and high yield bonds in current fixed income allocations in the increasingly difficult search for yield. Their willingness to embrace more risk in their fixed income portfolios in order to obtain yields of over …
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A postman who stole packages to fund his cocaine and gambling debts has walked free after claiming stealing was “commonplace” in the Royal Mail. Lee Flanagan, 34, took parcels containing clothing and perfume after being left owing £7,000 worth of cocaine and gambling debts. The thieving postie from Gorton in …
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