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Tag Archives: newspaper

Sunday newspaper round-up: Royal Mail, Shein, Canary Wharf

The heads of the Communication Workers Union have acquiesced to Royal Mail’s demand to end six-day-a-week letter deliveries, paving the way for historic cuts to postal services. Royal Mail wants to amend its universal service obligation so that it must only deliver second-class post every other day. Nonetheless, first-class mail …

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Sunday newspaper round-up: IDS, Ocado, Foxtons

Asset manager Redwheel told regulators they should reduce the UK postal service’s legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to …

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Sunday newspaper round-up: Tesco, National Grid, Morrisons

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. …

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