Fears of parcel crime wave as Royal Mail (RMG) plans ‘massive jobs cuts’ to its investigation unit. The Royal Mail’s investigations department, which catches thieves and fraudsters intercepting parcels and letters, is facing “massive job cuts”, inside sources told the Telegraph.
Finsbury Food Group (FIF) has seized on the burgeoning popularity of gluten-free diets with a £25m takeover of family-owned specialist Ultrapharm. Ultrapharm, based in Pontypool, Wales, makes gluten-free bread, rolls, muffins and cake for clients including Marks & Spencer.
Train operators should be forced to pay higher compensation for delays to “level the playing field” with airlines, the chief executive of Flybe Group (FLYB) has said. Christine Ourmieres-Widener said payouts should be set at three times the value of rail tickets.
A looming crackdown by regulators on equity release mortgages could push retirement specialist Just Group (JUST) towards a fire sale with Legal & General Group (LGEN) viewed as the “ideal home”, according to City sources. The life insurer will find out at the end of the month if rules will be tightened by the Prudential Regulation Authority (PRA) – a move which Just has warned could put strain on its balance sheet.
Mid-size lenders including TSB and Metro Bank (MTRO) are preparing a new campaign against regulation of smaller banks, claiming post-crisis red tape has gone too far and puts them at an unfair disadvantage to the big six. Smaller members of bank trade body UK Finance are working on research that is expected to conclude that the regulatory burden on second tier lenders is damaging competition.
HSBC Holdings (HSBA) is close to launching a new digital bank known internally as “Project Iceberg” in a move to sink new competition from online upstarts. Europe’s largest lender has recruited more than 100 people to the secret project, based in offices in the Aldwych area of central London.
Questor: buy Mondi (MNDI) – it’s well placed to gain from e-commerce and the rise of ‘green’ packaging
