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Royal Mail to cut 2,500 jobs in operational review


By Dan McGrath

Royal Mail has announced that it is to cut up to 2,500 jobs by the end of 2027 as the business implements universal service reform as part of its transformation programme.

The postal service said that the reduction equates to less than 2% of its current workforce, and is subject to a consultation, after briefing the unions on its proposals


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Pennon plans £550m rights issue and cuts dividend

Environmental utility infrastructure company Pennon shares fell more than 15% after the company unveiled a £550m rights issue, cut its dividend and announced a major "operational reset" aimed at improving performance, particularly at South West Water

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Kenmare confirms takeover approach from Abu Dhabi-backed investor

Kenmare Resources has confirmed that it has received a non-binding proposal from International Resources Holdings RSC (IRH) regarding a possible cash offer for the entire London-listed company.

The Irish-headquartered miner said talks with IRH are ongoing, but cautioned that there is no certainty that a formal offer will emerge or what terms any bid might contain

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Asos shares drop following alleged hacking

Shares in Asos have fallen by over 13% after the online fashion retailer was allegedly hacked earlier today

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Clarksons ups profit guidance amid ‘record freight rates’

Clarksons has stated that it expects its underlying profit before tax for the full year to not be less than £135m in the year to 31 December

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TW Kempton Pension Scheme finalises £1.5m buy-in with Just Group

The TW Kempton Pension Scheme has finalised a £1.5m buy-in with Just Group, securing the benefits of four pensioners and one deferred member

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Hammerson appoints AEW exec Gina Szymanski as CFO

FTSE 250 property group Hammerson has appointed Gina Szymanski as CFO and a director, with her expected to join its board by 1 January 2027

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Informa buys Clarion for £2.24bn and plans to offload academic business

Informa has agreed to buy B2B events organiser Clarion from private equity firm Blackstone for £2.24bn as it launches a formal process to separate its academic publishing business, Taylor & Francis, in an effort to sharpen its focus on events

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UK venture investment reaches £16.9bn but weak exits threaten capital recycling

UK venture-backed companies attracted £16.9bn across 1,417 deals in the first seven months of 2026, but a lack of exits and a concentration of investment in fewer, larger funding rounds could hinder the ecosystem's future growth, according to a NatWest and PitchBook report

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BT acquires TalkTalk operations from administration

BT Group has acquired TalkTalk Telecommunications and PlatformX Communications (PXC) out of administration on a debt-free basis, securing continuity of broadband services for around 2.5 million customers in an "unprecedented situation".

The deal was completed overnight following a settlement with TalkTalk’s largest lender, Ares Management, which BT agreed to pay around £100m to resolve the weekend impasse with creditors and avoid a potentially prolonged legal dispute.

DWS buys Peakside Capital Advisors in European real estate push

DWS, the asset management arm of Deutsche Bank, has agreed to acquire Peakside Capital Advisors, a specialist real estate investment manager focused on Germany and Central and Eastern Europe, as it seeks to expand its alternatives business
National Grid ups earnings guidance in trading update

National Grid has increased its earnings per share guidance for the full-year, following a strong first half performance in its Ventures and Other division
Ithaca Energy expands into Canada with $1.1bn Suncor deal

FTSE 100 oil and gas producer Ithaca Energy has agreed to acquire a portfolio of offshore Canadian oil assets from Suncor Energy for up to US$1.1bn (£830m), its first international acquisition outside the North Sea
IG shares plummet on growth outlook cut

Shares in FTSE 250 trading platform operator IG Group fell by as much as 27% on Friday after the company warned Q3 revenue would be down 14% year-on-year and cut its revenue growth expectations for 2026.

IG said weaker-than-expected revenue retention in its over-the-counter (OTC) derivatives business would hit third-quarter revenue and lead to a downgrade to its full-year growth outlook

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