Nov 8, 2019

Royal Mail turns to the courts in bid to block strike

The Royal Mail has turned to the courts to try and block its workers from taking industrial action over Christmas and in the run up to the general election. Rico Back, the chief executive who joined the company in June 2018, has outlined a strategy designed to secure Royal Mail's future, including a cut in dividend payments in order to help fund a £1.8bn, five-year investment drive designed to harness growth in parcels. Bankers for Saudi Aramco's initial public offering have dangled the possibility of bonus payouts that could take the company's annual dividend past $100bn in an effort to woo investors for a flotation tipped to be the biggest ever. Profits at Disney, which owns the Marvel, Pixar and Star Wars franchises as well as TV channels like ESPN and ABC, sank during the final quarter before its new streaming service debuts, as the world's largest media company makes a costly transition towards online entertainment. Shares in the company dropped more than 8 per cent in after-hours trading.

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