Vince Cable calls Royal Mail boss Moya Greene’s stance over universal service scaremongering November 26, 2014 Business Secretary Vince Cable yesterday accused Royal Mail chief executive Moya Greene of scaremongering after she told MPs that there was a threat to the universal service. The universal service means Royal Mail has to deliver across the UK, six days a week, and for the same price. Appearing before the Business, Innovation and Skills Committee, [...]
Amazon debuts Post Office pick-up service in new deal with Royal Mail November 24, 2014 Shoppers will soon be able to collect products ordered on Amazon at their local Post Office branch in a new deal announced today by the online retail giant and the Royal Mail. Amazon said it has signed up Royal Mail’s Local Collect service, giving its customers the option of collecting goods from any one of [...]
Royal Mail frets over Amazon taking business November 19, 2014 FIRST it was publishers, then high street retailers, now US giant Amazon is set to disrupt the business model for Britain’s postal service. Industry leader Royal Mail yesterday warned that the growing dominance of rival delivery offerings from Amazon would cut revenue growth in half at its key parcel delivery division. Royal Mail, which was [...]
Royal Mail and miners weigh heavily on FTSE – London Report November 19, 2014 THE FTSE 100 ended a four-day rally yesterday as falling iron ore prices hit mining stocks and trading updates from Royal Mail and testing firm Intertek disappointed investors. Hit by its heavy weighting in commodity-related stocks, the blue chip index underperformed European peers, dropping 12.53 points, or 0.2 per cent, to 6,696.60 points. One of the [...]
Should Royal Mail still have to deliver to all the UK for the same price? November 19, 2014 Duncan O’Leary, deputy director of Demos, says Yes. Before Royal Mail was privatised, business secretary Vince Cable stated that the “overarching objective” of the sale was to secure the universal service obligation. In doing so, the government entered into a contract with two groups. First, shareholders, who knew what they were investing in – a [...]
Royal Mail share price falls more than 8 per cent after it warns on parcels business November 19, 2014 Shares in Royal Mail had fallen more than eight per cent to 431p in early afternoon trading, after the company posted disappointing half-year profits and warned its parcel business is likely to be impacted by heavy competition. The business, which was floated at 330p last October, has been the subject of fierce debate, with MPs [...]
Royal Mail share price falls as profits drop after struggles with competition November 19, 2014 This isn't what Royal Mail shareholders wanted to hear in the run-up to its busiest month: shares fell 7.3 per cent in the early afternoon as the 500-year-old postal service said its delivery operations faced "stiff competition" in the first half of the financial year. For the six months to 28 September, pre-tax profit [...]
Lord Myners’ report into Royal Mail mustn’t get lost in the post November 5, 2014 It's the privatisation row that won’t go away. Royal Mail’s shares may have performed limply since their post-flotation peak earlier this year, but their initial surge makes it a safe bet that the sell-off will feature heavily during next year’s general election campaign. Two reports – from the National Audit Office and the Business [...]
Rochester and Strood by-election: Royal Mail refuses to deliver “illegal” Britain First leaflet October 31, 2014 Royal Mail is refusing to deliver a leaflet by the far-right group Britain First to voters in Rochester and Strood, saying it “does not comply with the law”. The by-election, due to take place on November 20, is the first time Britain First has run for a parliamentary seat, though it is also endorsing votes [...]
Royal Mail sells Paddington site for £111m October 14, 2014 ROYAL MAIL, led by Moya Greene (pictured above), has sold its mail centre at Paddington to Singaporean property firm Great Western Developments for £111m. The first site to be sold off since the group floated, it will be remodelled into luxury homes, hopefully larger than stamps.