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11/10/2013
Royal Mail Shares Soar
Shares in the Royal Mail have jumped more than 30%.
The value of the firm has been boosted to over £4.5bn, dramatic rise from the pre-flotation pricing of £3.3bn.
Business Secretary Vince Cable, who is a member of the Liberal Democrats dismissed claims the sale had been undervalued, telling BBC Radio that the sharp price rise was no more than "froth and speculation".
The Communications Workers Union (CWU) general secretary Billy Hayes hit out at today's flotation of Royal Mail.
He said: "Privatisation is all about greed". His comments were made as the company's share price jumped by more than a third in the opening minutes of trading.
Mr Hayes said: "The massive jump in the share price confirms that the government and its expensive city advisors got the pricing structure wrong and have undervalued this treasured national institution. The taxpayer has lost out immediately and we all now face an uncertain future for our postal services which will be run for profit instead of public service.
"Privatisation is about greed. I think Vince Cable is one of the cleverest men in the government, but he's made one of the stupidest mistakes in politics on privatising Royal Mail.
"Shares will make no scintilla of difference to postal workers who are far more concerned about their jobs. We expect our members will vote to protect their terms and conditions in our strike ballot next week. It's more important than ever to get protections for jobs security and terms and conditions under privatisation. CWU won't stand idly by; whoever owns the company will have to deal with us and the workforce."
Postal workers protested outside the London Stock Exchange this morning as Royal Mail was floated and trading began on shares. Demonstrators dressed as robbers with swag bags represented how private investors are being allowed to steal public assets, while others wearing Cameron, Osborne and Cable masks firmly pointed where the blame laid.
(CD/IT)
The value of the firm has been boosted to over £4.5bn, dramatic rise from the pre-flotation pricing of £3.3bn.
Business Secretary Vince Cable, who is a member of the Liberal Democrats dismissed claims the sale had been undervalued, telling BBC Radio that the sharp price rise was no more than "froth and speculation".
The Communications Workers Union (CWU) general secretary Billy Hayes hit out at today's flotation of Royal Mail.
He said: "Privatisation is all about greed". His comments were made as the company's share price jumped by more than a third in the opening minutes of trading.
Mr Hayes said: "The massive jump in the share price confirms that the government and its expensive city advisors got the pricing structure wrong and have undervalued this treasured national institution. The taxpayer has lost out immediately and we all now face an uncertain future for our postal services which will be run for profit instead of public service.
"Privatisation is about greed. I think Vince Cable is one of the cleverest men in the government, but he's made one of the stupidest mistakes in politics on privatising Royal Mail.
"Shares will make no scintilla of difference to postal workers who are far more concerned about their jobs. We expect our members will vote to protect their terms and conditions in our strike ballot next week. It's more important than ever to get protections for jobs security and terms and conditions under privatisation. CWU won't stand idly by; whoever owns the company will have to deal with us and the workforce."
Postal workers protested outside the London Stock Exchange this morning as Royal Mail was floated and trading began on shares. Demonstrators dressed as robbers with swag bags represented how private investors are being allowed to steal public assets, while others wearing Cameron, Osborne and Cable masks firmly pointed where the blame laid.
(CD/IT)
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20 September 2013
Postal Workers To Be Balloted Over Strike Action
Some 115,000 postal workers are to be balloted over possibly strike against in a dispute over the privatisation of the Royal Mail.
Postal Workers To Be Balloted Over Strike Action
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25 January 2011
Met Police Seize Scam Mail Aimed At UK Victims
In the first operation of its kind, officers from the Metropolitan Police Service's Economic and Specialist Crime Unit (Operation Sterling) took possession of a bulk delivery of scam mail intended for vulnerable victims across the UK and searched and closed five virtual offices used by the scammers.
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In the first operation of its kind, officers from the Metropolitan Police Service's Economic and Specialist Crime Unit (Operation Sterling) took possession of a bulk delivery of scam mail intended for vulnerable victims across the UK and searched and closed five virtual offices used by the scammers.
30 April 2014
Govt Names Royal Mail Investors
Business Secretary Vince Cable has released the names of the 16 'pilot fishing investors' who gave government the confidence to launch the Royal Mail Initial Public Offering (IPO) and who were later allocated shares. He said: "I told the BIS Select Committee yesterday I wanted to be as helpful and transparent as possible.
Govt Names Royal Mail Investors
Business Secretary Vince Cable has released the names of the 16 'pilot fishing investors' who gave government the confidence to launch the Royal Mail Initial Public Offering (IPO) and who were later allocated shares. He said: "I told the BIS Select Committee yesterday I wanted to be as helpful and transparent as possible.
01 April 2014
Royal Mail Sale Price Was Too Cautious - NAO
By floating Royal Mail on the Stock Exchange within this Parliament, the Government achieved its primary objective, according to the National Audit Office (NAO).
Royal Mail Sale Price Was Too Cautious - NAO
By floating Royal Mail on the Stock Exchange within this Parliament, the Government achieved its primary objective, according to the National Audit Office (NAO).
12 September 2013
Royal Mail To Be Privatised 'In Coming Weeks'
The UK government has given formal notice to the stock exchange that it plans to privatise Royal Mail "in the coming weeks". It has not provided specific details as to how much of the group will be sold, but it is understood to be a majority.
Royal Mail To Be Privatised 'In Coming Weeks'
The UK government has given formal notice to the stock exchange that it plans to privatise Royal Mail "in the coming weeks". It has not provided specific details as to how much of the group will be sold, but it is understood to be a majority.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
