International Distribution Services (IDS) said the government's decision to raise employers' national insurance contributions (NICs) corn pounded challenges for the business as it faces one of the most turbulent periods in the history of its 508-yearold subsidiary, Royal Mail.
The group, which is the subject of a takeover bid, took a £134m writedown on the Value of Royal Mail and said the NICs changes would cost the business about £120m a year from 2025-26. Royal Mail is one ofthe UK's largest employers, with 130,000 staff.
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We're at risk' Guardiola fears City will miss out on Champions League
Pep Guardiola has admitted he fears Manchester City will not qualify for the Champions League.
Champions stripped of old aura, says Dyche
Sean Dyche believes Manchester City's dramatic slump has changed \"the feel\" around the Premier League champions and given their opponents more belief.
Slot wary of Van Nistelrooy after tussles back home
Arne Slot has said his experience of facing Ruud van Nistelrooy in the Netherlands, plus Liverpool's brief drop-off against Tottenham, ensures Leicester will not be underestimated at Anfield tonight.
Amorim wants proof Rashford can be a leader
Ruben Amorim says Marcus Rashford has a \"big responsibility\" to help Manchester United out of one of the club's lowest moments by performing at his best, with the manager insisting the forward wants to play.
How City went from world's best to straw men in 12 months
Guardiola seems unable to solve the most profound internal collapse of any great team in the modern age
Secret of Fulham's success: no project, just love and care
Marco Silva's side stand in contrast to Chelsea, as they thrive by giving unwanted players a second chance
Arteta: a steely Spanish coach with 'British DNA' running through him
Five years since he took over at Arsenal, his ex-managers Moyes and McLeish reflect on their pupil turned title chaser
Gloves are off for Boxing Day in tense Championship fight
Sheffield United lead the way but Leeds look strong while Sunderland and Burnley are hot on their heels
Grey Dawning bids to follow path of Desert Orchid in King George
This throwback to a different age has a chance to emulate the tradition of great greys triumphing at Kempton
Favourites face questions before wide-open showpiece
There have been many renewals of the King George VI Chase in recent years which revolved around a clear market leader but there is no obvious starting point for weighing up this year's race at Kempton today, as nine of the 11 runners already have at least one Grade One victory over fences to their name and at least four - Spillane's Tower, Banbridge, Grey Dawning and Il Est Francais - could conceivably set off as favourite.
