Category: Mail
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Royal Mail fined record £10.5m for late deliveries
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Royal Mail has been fined a record £10.5 million by the postal regulator after more than a quarter of first-class letters were delivered late. Ofcom said the company had failed to meet its obligations to deal with letters quickly enough, marking the second financial penalty it faces in just over…
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Royal Mail warns of £120 million cost increase due to National Insurance rise
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Royal Mail has warned it faces an additional £120 million in costs due to the upcoming increase in employers’ National Insurance contributions announced in the latest Budget. The loss-making Postal Service said the rise would disproportionately affect its operations due to its large workforce of about 130,000 employees. The company,…
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Czech Billionaire Plans £400m Overhaul for Royal Mail, Sparking Job Concerns
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Daniel Kretinski, the Czech billionaire preparing to take over Royal Mail, has unveiled a transformative vision for the company, which includes a £400m investment to create a network of drop boxes and delivery lockers across the UK. The move could significantly impact tens of thousands of postal delivery jobs and…
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Hunt Pledges to Safeguard Key Royal Mail Services Amid £3.6bn Takeover
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Chancellor Jeremy Hunt has urged regulators to closely examine Daniel Kretinsky’s proposed £3.6bn takeover of Royal Mail, amid concerns about the potential break-up of the iconic postal service. Hunt stressed the importance of extending the guarantees currently promised by Kretinsky beyond their initial periods. Speaking to LBC, Hunt highlighted the…
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Royal Mail, which lost $450m last year, bought by a Czech billionaire
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The owner of Britain’s Royal Mail said on Wednesday that it had accepted a takeover offer worth 3.6 billion pounds ($4.6 billion) from Czech investor Daniel Kretinski. Under the deal, Křetínský’s EP Group will buy International Distribution Services, which owns Royal Mail, for 370 pence ($4.72) per share. Including debt,…
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Royal Mail, which lost $450m last year, bought by a Czech billionaire
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The owner of Britain’s Royal Mail said on Wednesday that it had accepted a takeover offer worth 3.6 billion pounds ($4.6 billion) from Czech investor Daniel Kretinski. Under the deal, Křetínský’s EP Group will buy International Distribution Services, which owns Royal Mail, for 370 pence ($4.72) per share. Including debt,…
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Ofcom Investigates Royal Mail for Missing Delivery Targets
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Royal Mail is under investigation by Ofcom after failing to meet delivery targets, with less than three-quarters of first class mail delivered on time last year. According to Royal Mail’s parent company, International Distribution Services (IDS), only 74.5% of first class mail meets one business day delivery requirements. Ofcom regulations…