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Royal Mail fined £10.5m for missing delivery targets
Royal Mail has been fined £10. 5m by the communications regulator Ofcom for failing to meet delivery targets for first and second-class mail in the 2023-2024 financial year.
London open: Gains muted as UK economy contracts again
London stocks were in the black in early trade on Friday but gains were muted as data showed the UK economy unexpectedly contracted again in October.
GCM Resources extends MoU with PowerChina
GCM Resources announced a 12-month extension of its memorandum of understanding (MoU) with PowerChina on Friday, over the development of the Phulbari coal mine in Bangladesh.
UK economy unexpectedly contracts in October
The UK economy unexpectedly contracted in October, according to data released on Friday by the Office for National Statistics.
London pre-open: Stocks seen down as UK economy unexpectedly contracts
London stocks were set to fall at the open on Friday following weak sessions in the US and Asia, as data showed the UK economy unexpectedly contracted in October.
Friday newspaper round-up: Shein, clean power, farmers
Britain’s financial regulator is taking longer than usual to approve the fast-fashion retailer Shein’s stock market listing because it is checking its supply chain oversight and assessing legal risks after an advocacy group for China’s Uyghur population challenged the listing, according to two sources close to the matter. Britain’s Independent Anti-Slavery Commissioner, a monitoring body of the Home Office, has also raised concerns within government over a Shein initial public offering (IPO) because of allegations about labour practices at its suppliers.
Schroders reportedly looking to offload Indonesian unit
UK-based asset manager Schroders is reportedly looking to sell its Indonesian business as it considers exiting some sub-scale markets under new boss Richard Oldfield.