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Royal Mail reaches three-year pay deal with workers union

Royal Mail reaches three-year pay deal with workers union

Reuters17 hours ago
July 3 (Reuters) - International Distribution Services (ROYMF.PK), opens new tab said on Thursday Royal Mail and the Communication Workers Union (CWU) have agreed on a three-year pay deal.
Royal Mail, whose iconic red post boxes with the Royal Crest dot the country, has struggled with labour strikes, competition and loss of market share.
CWU, the largest union of the UK's Royal Mail, has held multiple strikes in 2022 and 2023, with workers as well as businesses grappling with soaring inflation.
The CWU will shortly issue a ballot with a recommendation to accept and the agreement that includes a three-year basic pay increase made up of a 4.2% increase in 2025, an inflation-linked increase of at least 2% in 2026 and 2% in 2027, IDS said.
Subject to a positive ballot outcome, the increase will be backdated to 1 April 2025.
IDS agreed to a takeover by Czech billionaire Kretinsky in May 2024. The deal was cleared in December after Britain secured commitments from Kretinsky to protect the more than 500-year-old company and the future of thousands of workers and customers.
In late June, EP Group said Kretinsky will become the chairman of Royal Mail.
The CWU did not immediately respond to a Reuters request for comment.
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European shares subdued as investors brace for Trump's tariff deadline
European shares subdued as investors brace for Trump's tariff deadline

Reuters

time7 minutes ago

  • Reuters

European shares subdued as investors brace for Trump's tariff deadline

July 7 (Reuters) - European shares were subdued on Monday, with investors on the lookout for any trade-related headlines in the countdown to U.S. President Donald Trump's tariff deadline. The pan-European STOXX 600 index (.STOXX), opens new tab was flat at 541.15 points, as of 0835 GMT. Other major regional indexes were mixed, with Germany's DAX (.GDAXI), opens new tab up 0.4%, while France's CAC 40 (.FCHI), opens new tab, Spain's IBEX (.IBEX), opens new tab, and the UK's FTSE 100 (.FTSE), opens new tab each fell 0.1%. President Trump said on Sunday, the U.S. is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9. The new rates are set to take effect from August 1. He also said the U.S. will send letters to 12 countries on Monday, detailing the different tariff levels they will face on goods they export to the U.S. "Trade deals have taken years to the U.S. is trying to negotiate so many deals in three months. It will be surprising if they get proper long-lasting deals signed very quickly", said Andrew Lapping, Chief Investment Officer at Ranmore Fund Management. Meanwhile, Trump threatened an extra 10% tariff on countries aligning themselves with the "anti-American policies" of the BRICS group of developing nations. He added to the confusion by mentioning that some tariffs could reach up to 70% levels far higher than the 10%-50% range he announced in April. "Trump is in a teasing mood, hinting that more deals will be inked in the coming are bracing for another burst of volatility, as another cloud of unpredictability descends.", said Susannah Streeter, head of money and markets, Hargreaves Lansdown in a note. Meanwhile, a White House official said on Friday that U.S. trade talks with the European Union were ongoing, and there was optimism that an agreement could be reached in the near future. European energy (.SXEP), opens new tab stocks fell 1.6%, tracking lower oil prices —meanwhile, insurance (.SXIP), opens new tab stocks were up 0.8%. Among individual stocks, Shell fell 3% after the energy major trimmed its second-quarter gas, LNG output outlook and guided for weaker trading results in a quarterly update ahead of full results. Capgemini ( opens new tab fell 4.1% after the French IT services firm agreed to buy technology outsourcing company WNS (WNS.N), opens new tab for a cash payment of $3.3 billion. China's finance ministry said on Sunday it would restrict government purchases of medical devices from the EU that exceed 45 million yuan ($6.3 million) in value, in retaliation for Brussels' curbs last month. Carl Zeiss Meditec ( opens new tab and Merck Kgaa ( opens new tab fell 1.7% and 2.1%, respectively, following China's reciprocal curbs on EU medical devices.

Virgin Media Black Friday 2025: what to expect this November
Virgin Media Black Friday 2025: what to expect this November

The Sun

time12 minutes ago

  • The Sun

Virgin Media Black Friday 2025: what to expect this November

VIRGIN Media's Black Friday deals are among the best. From bargain broadband to data-busting SIMs and bundle deals, we're expecting savings to suit all budgets. 1 Virgin Media Black Friday deals If you're looking for discounts to last well beyond Black Friday, then locking in cheap phone and broadband prices is the way to do it. In 2024, the telecom giant treated shoppers to three months of free service across its broadband and TV combo packages. Other offers included an O2 phone SIM and a free three-month Disney+ subscription with select bundles. When is Black Friday 2025? This year, the annual Black Friday event will take place on November 28. It follows Thanksgiving in the US, where the sale began. Black Friday originated in the States several decades ago, before growing in popularity here in the UK. Visit our ' When is Black Friday?' explainer to find out more. Is Virgin taking part in Black Friday this year? Yes, Virgin Media will be taking part in Black Friday 2025. The sales event is a fantastic time to shop Virgin Media's phone, TV, or broadband deals, as you'll save a sizeable amount on a long-lasting product. You can also treat yourself or your family to fun bonuses like extra TV channels or super-fast broadband. The latter could be incredibly helpful if you work from home. What to expect from Virgin's Black Friday sale 2025 We're expecting to see big savings on mobile phone deals, as well as broadband deals and TV bundles. That makes Black Friday a great opportunity to upgrade or treat yourself to some new gadgets or super-fast broadband. Like many retailers, Virgin releases some of its Black Friday deals ahead of the big day, so it's worth keeping an eye out for any early offers. What was in Virgin's sale last year? Last year, we saw a range of discounts from Virgin Media, including broadband and bundle deals. Here are some of the highlights from the 2024 sale: Broadband M250 fibre broadband, home phone and O2 SIM, £29.99p/m from 4th month - buy here M350 fibre broadband, home phone and O2 SIM, £35.99p/m from 4th month - buy here M500 fibre broadband, home phone and O2 SIM, £41.99p/m from 4th month - buy here Gig1 fibre broadband, home phone and O2 SIM, £29.99p/m from 4th month - buy here TV & broadband bundles Bigger Combo Bundle: 190+ channels, ultrafast fibre broadband, weekend calls, £39.99p/m from 4th month - buy here Bigger Combo Bundle Volt: 190+ channels, ultrafast fibre broadband, weekend calls, £49.99 from 4th month - buy here Bigger Movie Combo Bundle: 200+ channels, ultrafast fibre broadband, weekend calls, £60.99p/m from 4th month - buy here Bigger Movie Combo Bundle & O2 Sim: 200+ channels, ultrafast fibre broadband, weekend calls, £70.99p/m after 4th month - buy here Bigger Sports HD Combo Bundle & O2 Sim: 195+ channels, weekend calls, £69.99p/m after 4th month - buy here Biggest Combo: 210+ channels, weekend calls, £79.99p/m after 4th month - buy here Mega Volt Bundle: 230+ channels, anytime calls, unlimited 10GB O2 SIM, £84.99p/m after 4th month - buy here When is Cyber Monday 2025 and is Virgin taking part? This year, Cyber Monday falls on December 1. According to the provider: ''Cyber Monday, 1 December 2025, the first Monday after the Black Friday weekend, could be your last chance to grab a Virgin Media Black Friday broadband deal.'' Looking to save on more than broadband and phone packages? Check out our best Cyber Monday deals page for more unmissable offers. How much does Virgin's shipping cost? Virgin's shipping costs vary depending on the service and the product you select. Some Virgin services offer free shipping, while others have standard delivery charges. Head to the Virgin Media website to find out more. Does Virgin offer any other discounts? If you're looking to save big ahead of Black Friday, it's worth checking out the retailer's offers page. There you'll find a selection of deals for new and existing customers. Has Virgin Media merged with O2? In June 2021, Virgin Media and O2 joined forces to create one of the UK's largest telecoms providers. In January 2023, Virgin Media announced that its customers would be moving to O2 phone plans by the end of the year. The merger means you can find the fastest, widely available broadband in the same place as O2's great mobile services. If you're already a Virgin Media customer, you'll stay contracted to the company, but O2 will now provide your services. So, you can enjoy reliable WiFi and broadband speed boosts from Virgin Media and special perks via Priority with O2. If you're new to both O2 and Virgin Media, it's well worth having a look at their combined Volt contracts. Can I get Virgin Media? Black Friday is the best time of year to switch to Virgin Media, thanks to the big discounts that come with the mega sale. However, whether or not you can get Virgin Media's broadband depends on the area and type of building you live in. Unfortunately, it's not suitable for all households just yet - but there is an easy way to find out. If you visit the Virgin Media broadband page, you can enter your postcode to check if the service is available in your area. Virgin Media will also advise you on the broadband speed you could expect to receive at your address. You can then browse the various deals on offer, including brilliant bundle bargains. That includes combining Virgin Media broadband with phone and/or TV deals, like the Mega Volt bundles. Does Virgin Experience Days do Black Friday? Yes, Virgin Experience Days offers Black Friday deals. The company provides you, or a loved one, with the chance to try something incredible; whether it's driving a sports car, snorkelling, or enjoying the view from the Shard. In previous years, shoppers were treated to impressive savings on spa breaks, including a deluxe one-night stay at a local Crowne Plaza. Bargain hunters have also enjoyed discounts on afternoon tea at Fortnum & Mason and deals on a Thames lunch cruise; there's a day out for everyone. There's already a Black Friday page that you can bookmark, and we're once again hoping to spot several discounts on days out. Don't forget to check back on Cyber Monday too - Virgin Experience Day discounts typically continue through the weekend. Does Virgin Atlantic have a Black Friday sale? Virgin Atlantic is the company's premier airline, flying customers around the world. You can travel to Europe, North America, the Caribbean, and more. However, we all know that airline tickets can be expensive, especially if you're travelling to a far-flung destination, so any kind of discount is hugely welcome. Luckily for jet-setters, we're expecting Black Friday deals from Virgin Atlantic in 2025. In the past, the company has offered several incredible deals, with up to £200 off flights to the Caribbean.

EU countries seek more cuts to deforestation rules, letter shows
EU countries seek more cuts to deforestation rules, letter shows

Reuters

time13 minutes ago

  • Reuters

EU countries seek more cuts to deforestation rules, letter shows

BRUSSELS, July 7 (Reuters) - Most European Union countries have demanded further changes to the bloc's anti-deforestation law, saying some of its producers cannot be expected to meet its terms and face a competitive disadvantage, a letter seen by Reuters showed. From December, the deforestation law, a world first, will require operators placing goods including soy, beef and palm oil, onto the EU market to provide proof their products did not cause deforestation. Felling CO2-storing forests is a major cause of climate change. But despite worsening extreme weather, political will to impose strict emissions-cutting policies has ebbed, as governments worry about the financial costs. Brussels has already delayed its launch by a year and cut back reporting rules following criticism from trading partners, including the United States, as well as from EU countries. Of the EU's 27 member countries, agriculture ministers from 18 wrote to the Commission on Monday, demanding the EU rules are not applied to countries deemed to have a low risk of deforestation. They should stick to national measures instead, they said. "Excessive and redundant due diligence requirements should be removed in countries where agricultural expansion is not significantly reducing the forest area," the letter said. It was signed by Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Finland, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Poland, Portugal, Romania, Slovakia, Slovenia and Sweden. The deforestation law also applies to EU exports, prompting the 18 countries to voice concern that European producers would relocate abroad to avoid the additional cost of complying with the rules. "The full traceability within the EU-market required for all commodities by the regulation will be extremely difficult, if not impossible for some of them," the letter added. The countries said Brussels should consider delaying the launch of the policy again, while it drafts proposals to simplify the rules further. A Commission spokesperson did not immediately respond to a request for comment. The EU policy aims to end the 10% of global deforestation linked to EU consumption of imported goods.

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