Calls to boycott Royal Mail
As we covered yesterday, this Christmas will be very difficult for those expecting gifts and cards through the post and many businesses may well see their cash flow impacted adversely by the proposed strike action at Royal Mail. Not only has the company allegedly lost a £25 million contract with Amazon but eBay and Argos are reviewing their arrangements ahead of the vital Christmas period. So what next for Royal Mail?
There is no doubt that the company is in a very difficult situation, with business going elsewhere, cash flow under pressure and a massive pension fund deficit. The UK government has effectively washed its hands of the situation at this stage of proceedings although many people feel that Gordon Brown and Lord Mandelson will at some stage have to "join the party". The Royal Mail business is in great danger of going from the pinnacle of the UK postal industry to the bottom of the pile with a chorus of criticism and an expectation that many people will look elsewhere.
While many companies have benefited from moving to more commercial terms ahead of a possible flotation on the stock market, it would appear that Royal Mail is not one of them.
Share this..
Related stories
Scottish government fighting to save Diageo jobs
Recent news of significant job cuts by Diageo in Kilmarnock and Port Dundas in Scotland took both the Scottish government and Diageo workers by surprise. With literally hundreds of jobs on the line, as Diageo looks to close down a plant in Scotland and move the business elsewhere, it seems that while governments and MPs grab the headlines with job saving schemes and other initiatives, ultimately l...
Read MoreHow is the public sector workforce increasing?
It has been revealed today that there has been a significant rise in the number of council officers earning in excess of £50,000 a year throughout the UK. There has also been a significant rise in the number of local authority employees earning in excess of £100,000 a year. At a time when the rest of the economy is struggling how can it be that the public employee numbers continue to rise as do...
Read MoreS&P downbeat on UK banking system
Standard & Poor's, the credit rating agency, has today issued a downbeat assessment of the UK banking system. The agency has reiterated its belief that the UK banking system is no longer considered to be one of the world's elite and is in fact in the agency's third tier banking industry risk assessment category along with the likes of Portugal, Chile and Austria. While the assessment was flagged s...
Read MoreMortgage approvals fall again
30/05/2014 The number of mortgage approvals has fallen for the third consecutive month, according to the British Bankers’ Association (BBA). Whilst approved loans peaked at more than 48,000 in January, this fell consecutively every month up until April 2014 when there were 42,173 approved mortgages. However, despite mortgage approvals falling in numbers, the value of money lent to homeo...
Read MoreEDF Plays Hard Ball And Prepares To Look Elsewhere
As the EDF / British Energy saga continues to roll on we have seen the first signs that the French company might start to play hard ball. The group has suggested that the UK is not the centre of their nuclear ambitions and they have many more alternatives around the world which they are actively considering. Is this a bluff or are they set to walk away once and for all?
Government...