Lord Myners’ report could finally ease pressure on Vince Cable over Royal Mail December 17, 2014 Vince Cable knew what he was letting himself in for when he asked Lord Myners to oversee a review of the British government’s privatisations. So the business secretary will, I suspect, be relieved that the independent-minded former City minister has concluded that taxpayers were less short-changed from Royal Mail’s initial public offering (IPO) [...]
Royal Mail has taken a battering but is still valued brand – Brand Index December 16, 2014 THE CHRISTMAS period is always one of great stress and pressure for the delivery sector. With Royal Mail’s hold over the industry beginning to be threatened, I can use YouGov BrandIndex data to assess how it has been performing in the run up to this crucial time. Of course, Royal Mail has been repeatedly in [...]
Ed Richards delivers blow to Royal Mail as Ofcom rejects competition claims and launches investigation December 2, 2014 The postal service is finding it tough grappling with rivals while having to provide the universal service. Royal Mail was hit by a double-whammy of bad news yesterday after Ofcom rejected its claims that competition was undermining its ability to deliver a nationwide service. On top of that rejection, the regulator said it was launching [...]
Royal Mail share price drops as Ofcom says the postal service “isn’t under threat” December 2, 2014 The UK’s postal service is not under threat, Ofcom has said, delivering a blow for Royal Mail, whose boss Moya Green told MPs it faced competitors which made a universal service “unfinanceable and uneconomic”. Shares in the newly-privatised Royal Mail fell 3.2 per cent in mid-morning trading, after it emerged its complaints competitors were undercutting [...]
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 [...]