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Royal Mail shake-up could see Saturday deliveries scrapped in bid to save service
Ofcom is assessing potential reforms for the UK postal service, suggesting modifications to second class letter deliveries as part of a strategy to rejuvenate Royal Mail. The impetus for these considerations comes from a “national debate” initiated earlier in the year about how to ensure the postal service can be kept affordable, efficient, and sustainable …
Business
Sky News
ASOS offloads Topshop stake amid battle with Asian rivals
Shares in ASOS, the online fashion retailer, have risen sharply after it revealed a sell-off in its Topshop brand and guided that annual profits would come in at the top end of forecasts.The company, which has been struggling in the face of tough competition, said it would offload a 75% stake in the Topshop operations …
Business
Sky News
Silicon Valley star A16Z eyes stake in British start-up 11xAI
One of the world’s most prominent technology investors is considering taking a stake in a British artificial intelligence (AI) start-up which builds automated digital workers.Sky News understands that Andreessen Horowitz – commonly known as A16Z – is targeting an investment in 11xAI, which launched last year. A16Z backed companies including Airbnb and Facebook when they …
Business
Evening Standard
New car market declines for first time in more than two years
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.Monthly sales of new cars have declined for the first time in more than two years, industry figures show.Some 84,575 new cars …
Business
Evening Standard
UK housebuilding grows at fastest pace since 2022 mini-budget
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.The UK’s housing sector has grown at the fastest rate since the mini-budget knocked the industry almost two years ago, according to …
Business
Evening Standard
Fact check: China built more wind and solar than the rest of the world in 2023
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.A widely shared post on social media said China would be installing a lot of wind and solar power if the technologies …
Business
Evening Standard
Soggy early summer weather knocks Primark sales
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.Dismal early summer weather hit sales at budget clothing retailer Primark, owner Associated British Foods has revealed.The group said Primark’s UK like-for-like …
Business
Evening Standard
MP ‘deeply concerned’ as 440 jobs at heat pump factory are put at risk
Our unmissable weekly email of all the gossip, rumours and covert goings-on inside the Square MileSign upI would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.An MP has said he is “deeply concerned” about the risk of 440 jobs being lost at a West Lothian electronics factory …
Business
Sky News
Second class letter deliveries may be cut to three days per week
Royal Mail may be obligated to only deliver second class letters three days per week in future, under plans being considered by the industry regulator.Ofcom, which launched a consultation on the company’s universal service obligation (USO) earlier this year, said such a shift would protect priority deliveries, including first class mail, and help loss-making Royal …
Business
Sky News
Insurer Wefox’s board sounds fresh alarm over possible collapse
The board of Wefox, the troubled European insurance company, has sounded a fresh alarm over its solvency, warning investors that it could collapse before the end of the year without an additional funding boost.Sky News has learnt that investors in Wefox, which is backed by a syndicate of prominent investors including the Abu Dhabi state …
Business
Sky News
Sixth Street lays foundations to rival Persimmon in race for Cala
An American investment firm has joined forces with one of the remaining bidders for Cala Group, the privately owned housebuilder which has been put on the market.Sky News understands that Sixth Street has teamed up with Patron Capital Partners – Cala’s former owner – in an effort to trump a rival offer from Persimmon, the …
Business
Sky News
Water company bosses could face prison time in Labour shake up
Water company bosses could face up to two years in prison and be banned from taking bonuses under the new government’s first major proposals to crack down on England’s sewage, chemical and manure infested waterways.The new Water (Special Measures) Bill is designed to beef up feeble regulators so they can take on water companies releasing …

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