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Latest Finance News related to Postal Service

Malawi and Unicef launch drone air corridor image
Source : BBC [Read Article] Thursday 29th of June 2017 04:27:48 PM
.... . The plan was to operate fixed-wing drones, carrying a payload of up to 20 kg (44lbs), in sparsely populated and infrastructure poor northern Kenya to supplement the postal services. ...
BT considering closing defined-benefit pensions scheme for existing staff image
....If BT opts to close the scheme to current workers in favour of a cheaper arrangement it is likely to prove highly controversial, as such a move would dramatically reducethe total renumeration packages that employees have signed up to. The Communications Workers Union, which represents Royal Mail as well as BT employees, has already threatened to hold a ballot for industrial action among members at the postal service. ...
Couriers on Britain's shopping addiction: 'Customers don't care as long as it's cheap' image
.... Hermes, ultimately owned by 73-year-old German billionaire Michael Otto and family, turned a profit of £27m in the UK last year using almost entirely self-employed couriers. Another giant, DPD – owned by GeoPost, a subsidiary of France’s postal service – made more than £100m using what it describes as “driver franchisees”: essentially, self-employed drivers. ...
Strike threat after Royal Mail closes pension scheme image
Source : BBC [Read Article] Thursday 13th of April 2017 07:32:05 AM
....Postal unions are threatening to ballot for industrial action after Royal Mail said it would close its defined benefit pension scheme in 2018. The postal service said that the pension plan was currently in surplus, but it was not sustainable. ...
Australia Post chief resigns despite bumper profits image
Source : BBC [Read Article] Thursday 23rd of February 2017 03:35:29 AM
....It said Mr Fahour had developed an entirely new strategy for the business, "focused on investing in the parcels and eCommerce business". "It was the right strategy which has placed the postal service on the path to a sustainable future and avoiding a taxpayer bailout," chairman John Stanhope said. ...
Brexit jitters mean less junk mail (and less money for the Royal Mail) image
Source : Guardian [Read Article] Thursday 19th of January 2017 03:20:30 PM
....Royal Mail’s share price has fallen after uncertainty over the UK’s future relationship with the European Union curbed the amount of junk mail and business letters being sent. While group revenues were flat for the nine months to 25 December, the postal service said correspondence in the business world had slowed. ...
Downing Street distances itself from Grayling calls for anti-strike laws image
Source : Guardian [Read Article] Monday 19th of December 2016 07:00:14 AM
.... A GTR spokeswoman said no further talks were planned but “our door remains open”. The Royal Mail has said it does not anticipate trouble for postal services in the run-up to Christmas despite a planned strike on Monday, Tuesday and Saturday by Post Office staff belonging to the CWU. ...
Christmas shoppers to spend over two hours on online delivery problems image
Source : Guardian [Read Article] Wednesday 7th of December 2016 07:01:24 AM
.... They also also need proof of sending which can be obtained from the Post Office or postal delivery company. If valuables are being sent, Citizens Advice also recommends using an insured service such as Royal Mail’s Special Delivery or shopping around for another postal service. ...
Royal Mail says Brexit uncertainty causing dip in junk mail sent by post image
Source : Guardian [Read Article] Thursday 17th of November 2016 12:47:38 PM
....Dave Ward, general secretary of the Communication Workers Union, urged the postal industry watchdog to step in and protect Royal Mail’s obligation to deliver letters to any address in the UK six days a week. He said: “Given the continued decline in letter volumes and growing competition in the industry, we call on the regulator Ofcom to ensure its ongoing review of Royal Mail guarantees the company has sufficient revenues and resources to protect daily deliveries and support the UK’s vital universal postal service. ...
Rwanda begins Zipline commercial drone deliveries image
Source : BBC [Read Article] Thursday 13th of October 2016 11:01:02 PM
....A Swiss university drew up plans for a futuristic drone delivery project called Flying Donkey about three years ago. The vision, just like the drone delivery project in Rwanda, was to operate fixed-wing drones in northern Kenya, to supplement postal services. ...
Royal Mail 'failing to tackle' fraud image
Source : BBC [Read Article] Monday 10th of October 2016 12:49:45 PM
. Royal Mail has been accused of failing to crack down on scammers contacting vulnerable people via the postal service. ...

Secrets of the Silk Road emerge from ancient latrine pit in China
 image
Source : Telegraph [Read Article] Friday 22nd of July 2016 12:34:12 PM
....The sticks of bamboo, that were wrapped with a small, dirty piece of cloth, showed evidence of “ancient parasite eggs” of roundworm, whipworm, tapeworm and Chinese liver fluke. They were unearthed from an ancient latrine located in Xuanquanzhi, in modern Gansu, which was known as a popular resting stop for travellers, a place where officials changed horses and also a hub for the postal service. ...
Aussie rules? image
Source : BBC [Read Article] Monday 18th of July 2016 11:10:38 PM
....It's a quality Mr Fahour has had to put to the test at the 208-year-old postal firm. Like many postal services, Australia Post has seen the number of letters sent decline sharply as people use email instead, meaning the biggest part of its business is now parcels, driven by online shopping. ...
'Believe in yourself' image
Source : BBC [Read Article] Monday 11th of July 2016 11:06:02 PM
....Ahmed Fahour, boss of Australia Post, has made a big effort to improve the number of senior women at the firm since he took the helm in 2010. Like many postal services that have seen the number of letters sent decline sharply as people use email instead, the biggest part of its business is now parcels driven by online shopping. ...
Royal Mail escapes price caps after Ofcom says service working well image
Source : Guardian [Read Article] Wednesday 25th of May 2016 09:38:51 AM
....”. It added: “The universal postal service is financially sustainable, while current rules and safeguards for people and businesses who use post are generally working well. ...
Exit from Chinese online store costs Asos £10m image
Source : Guardian [Read Article] Thursday 7th of April 2016 01:57:20 PM
....Since then the Chinese market has softened and Asos has prioritised expansion in the UK, Europe and the US. The company has faced difficulties with the Chinese postal service and with local preferences for other brands over its own label. ...
Royal Mail raises stamp prices by 1p image
Source : Guardian [Read Article] Friday 19th of February 2016 12:06:30 PM
.... The price of large letter stamps will also rise by 1p. “We believe these changes are necessary to help ensure the sustainability of the universal postal service,” the company said, adding that stamp prices in the UK are among the best value in Europe. ...
Royal Mail hails good performance image
Source : BBC [Read Article] Thursday 21st of January 2016 07:51:57 AM
....Royal Mail's operations have been under review by the regulator, Ofcom, since last summer. It is looking at the "efficient and financially sustainable provision" of the UK's universal postal service. ...
Want an answer from HMRC? Better off writing a letter than using the phone, say accountants image
....” . The institute found that “the majority of members share the view that HMRC postal services can be relied on for providing a high quality and accurate information and resolving complex queries. ...
BAE gains from US hopes, as miners slow the blue-chips  image
Source : Telegraph [Read Article] Wednesday 6th of January 2016 05:54:22 PM
.... Elsewhere, Royal Mail extended its gains after it received a second rating upgrade in two days. Barclays lifted the stock’s rating to “overweight” as it believes the postal service can deliver higher growth than its peers in the coming three to five years due to its cost-saving measures. ...
Australia Post increases stamp prices for regular mail from 70 cents to $1 image
....In an explanatory video posted on YouTube, Australia Post says the changes are designed to give consumers “more choice over the speed at which you send letters”. Almost-instantaneous delivery of correspondence of any size, to any destination, is not being offered by the postal service. ...
Royal Mail fined £40m in French price-fixing scandal image
Source : Telegraph [Read Article] Tuesday 15th of December 2015 12:50:52 PM
.... . In October, the Government sold off its final 13pc stake in Royal Mail, and gifted the remaining 1pc it owned to postal service employees. ...
Questor share tip: Royal Mail shares a solid long term bet image
Source : Telegraph [Read Article] Friday 20th of November 2015 09:16:01 AM
.... . There is also a new cloud on the horizon as the postal service is under investigation by Ofcom, the regulator, over claims that it used its dominant market position to unfairly price out competitors. ...
Royal Mail profits beat expectations as 3,000 jobs go image
Source : Telegraph [Read Article] Thursday 19th of November 2015 08:32:58 AM
.... . The UK’s national postal service said it has stepped up its move to automated sorting as it fights to keep up with new entrants such as Amazon and smaller rivals that are hurting its lucrative parcel delivery business. ...
Newton Global Income fund focus: 'The US stock market is expensive - but it's China that worries me' image
.... . I have recently taken profits on a couple of businesses that I think have become too expensive, including Reynolds American and Deutsche Post, the German postal service. ...
Royal Mail expands same-day parcel delivery image
Source : Telegraph [Read Article] Wednesday 18th of November 2015 08:03:41 PM
.... . The results will be the first in its 500-year history as an entirely private company after the Government sold off its final 13pc stake in Royal Mail, and gifted the remaining 1pc it owned to postal service employees, last month. ...
UK Mail shares plunge after troubled move to new automated plant  image
Source : Telegraph [Read Article] Wednesday 18th of November 2015 08:20:47 AM
.... . The independent postal services provider said the difficult transition to a new head office and hub from Birmingham to Coventry meant expectations for next year's financial performance had "softened slightly". ...
The week ahead in business and finance  image
Source : Telegraph [Read Article] Sunday 15th of November 2015 09:59:55 PM
Questor share tip: Royal Mail shares offer long term value image
Source : Telegraph [Read Article] Tuesday 13th of October 2015 06:52:10 PM
.... . The 500-year-old postal service is facing some big challenges, but it has the dominant market position and balance sheet strength to survive. ...
Government to sell remaining 14% stake in Royal Mail image
Source : Guardian [Read Article] Monday 12th of October 2015 05:51:06 PM
.... No shares are being sold directly to private investors. A Department for Business spokesperson said: “The universal postal service is strongly protected by law and Ofcom has a duty to ensure its provision. ...
Government raises £591m selling off final Royal Mail shareholding image
Source : Telegraph [Read Article] Monday 12th of October 2015 04:42:08 PM
. The Government has sold off a 13pc stake in Royal Mail, and gifted the remaining 1pc it owned to postal service employees. ...
Government to sell rest of Royal Mail image
Source : BBC [Read Article] Monday 12th of October 2015 04:25:54 PM
....The Department of Business, Innovation and Skills wrote: "Current market conditions should allow a successful sale and the realisation of value for the taxpayer. "The universal postal service is strongly protected by law and Ofcom has a duty to ensure its provision. ...
Royal Mail float helped create a new generation of retail investors image
Source : Telegraph [Read Article] Saturday 10th of October 2015 06:20:26 PM
.... . Analysis of thousands of first-time share buyers who invested in the 500-year-old postal service showed over 75pc still hold an open trading-account. ...
Royal Mint sells biggest ever gold bars – but you’ll need a big wallet if you want one image
....34kg gold bar that is stored in the vault. Customers can have the bullion delivered direct to their home by an insured postal service or store their gold in 'the vault' - the Royal Mint's on-site precious storage facility which is protected around the clock by the Ministry of Defence. ...
Royal Mint to sell 1kg gold bars image
Source : Guardian [Read Article] Tuesday 6th of October 2015 11:01:33 PM
....”. Customers can have the bullion delivered direct to their home by an insured postal service or store their gold in “the vault” - the Royal Mint’s on-site precious storage facility which is protected around the clock by the Ministry of Defence. ...
Hedge fund puts its stamp on Royal Mail shares image
Source : Telegraph [Read Article] Saturday 19th of September 2015 06:57:10 PM
.... . The postal service’s shares soared in the months after their debut, rocketing from 330p to more than 600p, before falling back to under 400p within a year. ...
UK Mail warns on profits after influx of oversized parcels overwhelms new hub  image
.... . The independent postal services provider said that a larger proportion of parcels than expected had proved "incompatible" with its state-of-the-art automated sorting equipment at the brand new facility in Coventry. ...
Pay-TV and superfast broadband drive first growth in spending for five years image
.... The industry regulator Ofcom said that the average British household spent a total of £117. 71 per month last year on broadband, phone, mobile, television, radio and postal services. ...
Equities bounce back as investors shrug off Chinese woes image
Source : Telegraph [Read Article] Tuesday 28th of July 2015 05:10:24 PM
.... . Elsewhere, Royal Mail took a bruising as Ofcom found the postal service had breached competition law by engaging in unlawful discrimination in the access mail market. ...
Ofcom accuses Royal Mail of bid to crush competition with price hikes image
Source : Telegraph [Read Article] Tuesday 28th of July 2015 10:42:39 AM
.... . Ofcom, which regulates postal services, issued a statement of objections against the former state monopoly, which amounts to a provisional but formal allegation that the company broke law meant to protect competition and consumers. ...
Royal Mail 'broke competition law' image
Source : BBC [Read Article] Tuesday 28th of July 2015 08:19:54 AM
....The review could result in a price cap being imposed on the postal operator, it said. Ofcom's inquiry will examine the "efficient and financially sustainable provision" of the UK's universal postal service - in other words, Royal Mail's commitment to deliver to all of the UK for the same price. ...
Royal Mail letter revenues fall in 'challenging' trading image
Source : Guardian [Read Article] Tuesday 21st of July 2015 09:04:52 AM
....Brokers at Bank of America Merrill Lynch said trading was broadly in line with expectations with “mail performing slightly below expectations and with the GLS and parcels’ divisions performing slightly ahead”. Ofcom has said its inquiry will look at whether current regulation secures “the efficient and financially sustainable provision” of the country’s universal postal service. ...
Royal Mail reports flat revenues image
Source : BBC [Read Article] Tuesday 21st of July 2015 07:02:42 AM
.... That removed any national competition for the direct delivery of letters. Ofcom said the "fundamental" review would "ensure regulation remains appropriate and sufficient to secure the universal postal service". ...
Royal Mail boosted by Whistl blow image
Source : Daily Express [Read Article] Sunday 19th of July 2015 08:55:00 PM
. The letter-delivery service arm of Whistl and parcel firm City Link both folded within the past seven months, highlighting strength of the competition in the sector and raising concerns about the universal postal service the Royal Mail is tasked with maintaining. ...
Royal Mail could be forced to cap prices image
Source : Daily Express [Read Article] Friday 17th of July 2015 05:37:00 PM
....As a result Ofcom said it may roll back some of the commercial flexibility granted to Royal Mail in 2012, including the ability to put up its prices, amid a review of the company's operations. The inquiry will look at whether the future of the country's universal postal service is secure, which is the Royal Mail's commitment to make deliveries to all parts of the UK at a flat rate, six days a week. ...
Ocado falls sharply amid Amazon Fresh concerns image
Source : Telegraph [Read Article] Friday 17th of July 2015 04:38:47 PM
.... . Royal Mail took a bruising after a consultation document by market regulator Ofcom revealed why it will review the regulation of the postal service next year. ...
Royal Mail down on Ofcom review image
Source : BBC [Read Article] Friday 17th of July 2015 03:09:26 PM
....The review could result in a price cap being imposed on the postal operator. The regulator said the inquiry will examine the "efficient and financially sustainable provision" of the UK's universal postal service. ...
Royal Mail shares drop as Ofcom launches ‘fundamental’ review of postal sector image
.... . The communications watchdog is seeking views on how regulation of the sector should change as it looks to secure the future of the universal postal service in a changing market, and tackle concerns that the company no longer faces competition in the delivery of letters. ...
The innovators: Nimber delivers latest development in the sharing economy image
....Kestin believes that because many of the items that are sent are outsized, their prices are competitive with other transport options such as the Royal Mail. “It compares very well because normally the items are very bulky, they are awkward, they don’t fit the normal dimensions of the postal service,” he said. ...
Union warns Royal Mail over threat to working conditions image
Source : Guardian [Read Article] Thursday 9th of July 2015 06:09:40 PM
....Ofcom’s comments about flexibility in workforces at other European postal companies and the regulator’s call for greater efficiency at Royal Mail show the regulator has working conditions in its sights, the CWU added. Both risk undermining working conditions and ultimately the universal postal service that delivers to all parts of the country for the same price, the CWU said. ...
....5p. The Government has already banked £750m from the sale of half the shares it kept after the IPO, but it still has another 15 per cent stake in the postal service to get rid of. ...
Lovespace hits £1m in sales moving boxes for start-ups image
Source : Telegraph [Read Article] Tuesday 7th of July 2015 04:00:01 AM
.... . This has led to hundreds of start-ups using Lovespace as a logistics partner – storing stock that is then delivered direct to customers, cutting out the postal services. ...
Royal Mail chair Donald Brydon to join the London Stock Exchange board image
.... . The outgoing chairman of the postal service will join the exchange's group board immediately and become chairman on July 1. ...
Sajid Javid overruled top official's Royal Mail share warning image
Source : Guardian [Read Article] Wednesday 17th of June 2015 12:41:24 PM
....The business secretary, Sajid Javid, has overruled a warning from his most senior department official that giving Royal Mail shares to staff as part of its selloff would not represent value for money. The government sold half its 30% stake in the postal service for £750m last week, at 500p a share – a considerable premium to the 330p float price. ...
Royal Mail Ofcom review could deliver new price caps on stamps image
Source : Independent [Read Article] Wednesday 17th of June 2015 12:54:17 AM
....At the same time, Ofcom wants to make sure that Royal Mail can continue to deliver letters for the same price anywhere in the country – the so-called “universal service”, which it says must remain “affordable” to all. Ofcom said: “The review will ensure regulation remains appropriate and sufficient to secure the universal postal service, given the recent withdrawal by Whistl from the ‘direct delivery’ letters market, which has resulted in Royal Mail no longer being subject to national competition. ...
Royal Mail faces further controls on stamp prices image
Source : Daily Express [Read Article] Tuesday 16th of June 2015 10:35:00 PM
....The recent withdrawal of a rival gave it a monopoly of the direct delivery letter market. Now an inquiry aims to ensure the universal postal service is secured, guaranteeing single-priced, six-day-a- week deliveries across the country. ...
Royal Mail 'under review' by Ofcom for holding UK monopoly image
Source : Telegraph [Read Article] Tuesday 16th of June 2015 07:46:35 AM
. Royal Mail is undergoing a "fundamental review" by Ofcom following the withdrawal of rival postal service Whistl from the market. ...
First-class stamp prices could be controlled as Royal Mail faces more regulation image
....The regulator decided to undertake the review after Whistl, Royal Mail’s only national competitor for direct delivery of letters, pulled out of the market. Ofcom said it was concerned that without competition for letter delivery, Royal Mail might fail to make itself more efficient, threatening the universal postal service in the long run. ...
Royal Mail regulation to be reviewed image
Source : BBC [Read Article] Tuesday 16th of June 2015 07:13:54 AM
....The regulation of Royal Mail is to be reviewed by Ofcom after the withdrawal of rival Whistl from the direct delivery letters market. Ofcom said the "fundamental" review would "ensure regulation remains appropriate and sufficient to secure the universal postal service". ...
Source : Independent [Read Article] Friday 12th of June 2015 11:52:28 PM
....7p to 507p, recovered from the losses that followed the Government’s share sale at 500p. Woodford Investment Management, run by the star fund manager Neil Woodford, said its stake in the postal service was now up to 5. ...
Greek woes depress FTSE 100 further image
Source : BBC [Read Article] Friday 12th of June 2015 03:57:28 PM
....78%, recouping some of Thursday's losses. The postal services company had fallen 4. ...
Market Report: Short-sellers raid Edi Truell’s Tungsten Corporation image
Source : Independent [Read Article] Thursday 11th of June 2015 08:28:29 PM
....3p, after the Government sold a 15 per cent stake for 500p per share. JPMorgan Cazenove, which has a 605p target price, told its clients to buy shares in the postal service, suggesting the Government’s sale might simplify upcoming labour and pension negotiations. ...
Government sells 15% of Royal Mail at £5 a share image
Source : Guardian [Read Article] Thursday 11th of June 2015 07:44:33 AM
.... It now has the ability to access the funds it needs to ensure that it has a sustainable future and can adapt to the changes in the postal market. The universal postal service remains well protected by law and by Ofcom. ...
Government makes £750m from sale of Royal Mail stake image
Source : Telegraph [Read Article] Thursday 11th of June 2015 07:01:25 AM
.... • George Osborne announces Royal Mail sell off and deep spending cuts . The 499-year-old postal service was privatised in 2013. ...
Government begins sale of remaining stake in Royal Mail image
Source : Guardian [Read Article] Wednesday 10th of June 2015 06:31:57 PM
. The government has begun selling the taxpayer’s remaining stake in Royal Mail, in a move expected to raise about £775m and halve the government’s remaining 30% holding in postal service. ...
Government to sell 15pc of Royal Mail overnight image
Source : Telegraph [Read Article] Wednesday 10th of June 2015 04:10:54 PM
.... • George Osborne announces Royal Mail sell off and deep spending cuts . The 499-year-old postal service was privatised in 2013, but the 38pc rise in its share price on its first day on the stock market led to accusations that the Government had sold it off too cheaply. ...
MPs to analyse economic pros and cons of Britain's EU membership image
Source : Independent [Read Article] Sunday 7th of June 2015 08:54:22 PM
.... Committees can hold joint inquiries if necessary  to avoid duplication in their work. Mr Wright said that he was also keen to look into the implications of the announcement last week that the Government is to sell its remaining stake in the Royal Mail, fully privatising the five-century-old postal service. ...
Source : Independent [Read Article] Friday 5th of June 2015 01:05:45 AM
. The recent rise in Royal Mail shares has not gone unnoticed by George Osborne, with the Chancellor deciding to cash in on the postal service’s 22 per cent rise in 2015. ...
Royal Mail shares fall after Osborne announces sale plan image
Source : Telegraph [Read Article] Thursday 4th of June 2015 01:34:16 PM
.... • George Osborne announces Royal Mail sell off and deep spending cuts . The 499-year-old postal service was privatised in 2013, but the 38pc rise in its share price on its first day on the stock market led to accusations that the Government had sold it off too cheaply. ...
Royal Mail stake to be sold off image
Source : BBC [Read Article] Thursday 4th of June 2015 12:30:33 PM
....Labour accused Mr Osborne of "ripping up" his long term economic plan by springing the announcement on MPs. The SNP said the move "poses real danger to the postal service and, in particular, the universal service obligation which is of huge importance to Scotland". ...
Royal Mail 'to appoint Tui boss Peter Long as chairman' image
Source : Telegraph [Read Article] Tuesday 2nd of June 2015 09:46:42 PM
.... . Mr Long, who has narrowed losses and recently launched a restructuring, joins Royal Mail amid a period of uncertainty at the 500-year-old postal service. ...

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