Vince Cable warns against bid by the ‘Czech Sphinx’ for Royal Mail Politics Former business secretary Vince Cable has warned the Government not to wave through the sale of the Royal Mail to Czech tycoon Daniel Kretinsky, citing his links to Russia and the high amount of debt involved. Cable was the architect of the privatisation of the postal service in 2013, overseeing a £3.3bn deal which led [...]
Post Office predicts record-high £1bn in cash withdrawals ahead of Christmas News The Post Office is predicting a record-high number of personal cash withdrawals this month, reaching upwards of £1bn. The prediction exceeds last year’s record-breaking numbers during the festive shopping season, with December 2023 seeing a total of £930m in cash withdrawals. A total of £916m in personal cash was withdrawn in November, the latest figures [...]
Post Office: Jobs and branches could be axed in post-scandal shake up Business The Post Office has announced a significant overhaul, with the closing of 115 branches and hundreds of jobs at risk.
Fujitsu won £1.4m in public contracts since pledge to stop bidding November 3, 2024 Fujitsu, the firm at the heart of the Post Office scandal, has been given £1.4m in public sector contracts since it pledged to stop bidding for them. The technology company voluntarily agreed in January not to bid for any further awards until the Post Office inquiry had been concluded. However, the commitment did not cover [...]
Post Office: MPs to hold inquiry into compensation ‘unfinished business’ October 31, 2024 MPs are set to launch an inquiry into the “unfinished business” of financial redress for victims of the Post Office Horizon scandal. The business and trade committee will hold a short probe focused on “fast and fair redress” for those affected by what has been dubbed the biggest miscarriage of justice in UK history. It [...]
Government should consider Post Office mutualisation, ex-minister says October 20, 2024 The government should consider plans to turn the Post Office into a John Lewis-style mutual, a former business minister has said, amid reports Whitehall is looking at the viability. Conservative shadow business secretary Kevin Hollinrake has said he would support a proposal to transform the Post Office’s business structure into a mutual in which customers [...]
Post Office boss told he did not need to ‘dig into’ Horizon scandal October 9, 2024 The outgoing Post Office chief executive said he was told he “did not need to dig into the details” of the Horizon IT scandal when he joined the business despite it having led to the wrongful prosecution of hundreds of sub-postmasters. During what was the first of three days of evidence at the Horizon inquiry, [...]
Mark Kleinman: Post Office needs a boss who can read the room September 26, 2024 Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his weekly City AM column.
Post Office boss Nick Read to step down next year as successor named September 18, 2024 Post Office chief executive Nick Read will step down from the role in March next year, the company has announced. Neil Brocklehurst, the current interim chief operating officer, is expected to replace Read, who temporarily stepped back from the role in July to give his “entire attention” to the Horizon scandal inquiry. At the time, [...]
Post Office boss Nick Read to step back temporarily as Horizon enquiry enters next stage July 12, 2024 In a note to staff today, Nick Read said the organisation was now entering a "critical phase" of the enquiry in September, and amid a strategic review of the organisation.