Overview

• Royal Mail's parent company, IDS, reports a £134m write-down linked to increased national insurance contributions from the Chancellor's recent budget.
• The company warns of potential price increases and job cuts to offset the projected £120m annual cost hike starting in 2025.
• Royal Mail is calling for reforms to its universal service obligations, including a review of its six-day delivery mandate, to address rising costs and operational challenges.
• The proposed £3.6bn takeover of Royal Mail by Czech billionaire Daniel Kretinsky is under government review, focusing on national security and service commitments.
• Despite financial pressures, IDS narrowed its losses in the first half of the year, reporting a £61m operating profit before one-off charges, with revenues rising by 11%.