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The Business Matrix: Saturday 21 June 2014
Royal Mail seeks Ofcom review
Royal Mail has made a formal application to its regulator Ofcom for an immediate review of direct deliveries in this country. Royal Mail warned that TNT Post’s plans for the UK could mean it loses £200m of revenues by 2017-18.
Borrowing rises despite growth
The recovery is yet to feed into improving public finances as borrowing remained worryingly high in May, official figures showed yesterday. Public borrowing of £13.3bn over the month was £4.6bn higher than a year earlier.
Espirito Santo dynasty ends
The family that has run Espirito Santo for 94 years has lost overall control of Portugal’s largest bank. Its chief executive, Ricardo Salgado, the founder’s grandson, stood down after an £800m rights issue cut his family’s stake to 46 per cent.
UBS boss charged with tax fraud
A Belgian judge has charged the head of UBS Belgium with involvement in an alleged multi-billion euro tax fraud by the Swiss bank’s Belgian unit. Marcel Bruehwiler denied all charges, which include organised crime and fiscal fraud.
- 1 What marriage would look like if we actually followed the Bible
- 2 If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
- 3 'Heartbreaking' Syria orphan photo wasn't taken in Syria and not of orphan
- 4 Bob Geldof offers to take four refugee families into his home 'immediately' as he condemns humanitarian crisis as a ‘f**king disgrace'
- 5 Orthorexia nervosa: How becoming obsessed with healthy eating can lead to malnutrition