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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Orders will restrict travel
The warrants relate to the Hamas attack on Israel on 7 October 2023 and the Israeli military response in Gaza.
'I cannot leave now' Guardiola says City's slump sparked new two-year contract
Pep Guardiola has signed a new two-year contract with Manchester City that will extend his tenure as the manager to 2027, with the Catalan stating the champions' current bad form stopped him leaving in the upcoming summer.
Furious drivers hit out at F1 leadership over radio silence
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Broja closing in on long-awaited Everton debut
Sean Dyche believes Armando Broja is close to his Everton debut, with the club hoping to fast-track the on-loan Chelsea forward's return.
Vinicius calls for help in ongoing fight against racism
The Real Madrid forward Vinicius Junior has spoken about his fight against racism, describing it as an ongoing battle that he is happy to take on, but warning that he alone \"can't fight all that Black people have been suffering\".
Premier League vote hangs in balance as City tensions rise
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Maresca unsure of James return date after new hamstring injury
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Shaw has last laugh after double earns spot in final eight
Long has the Women's Champions League craved the sight of a jam-packed, vociferous, all-standing section of home supporters roaring their team on from behind the home goal.
Hurtig's late strike knocks Out Juventus as Arsenal progress
Lina Hurtig's late poke-in ensured Arsenal secured a spot in the Champions League knockout stage with two group games remaining, a 1-0 win over Juventus enough to put them clear at the expense ofthe Italian club.
'It's sad to see the state the RFU is in'
Former union chief executive Francis Baron urges game to 'wake up' to financial state amid potential record losses
