The Royal Mail has said that it will have to raise prices for customers and cut costs amid the growing cost of living crisis.
After it was confirmed by the Office for National Statistics (ONS) yesterday that UK inflation has now risen to 9% – which is the highest the figure has been for the last 40 years – with prices hiked across a broad range of everyday goods and services during April, the Royal Mail has issued a statement this morning warning that it sees “significant headwinds” from rising costs – including wages, energy, and fuel.
In an attempt to bolster its position, the postal and courier service revealed that it aimed to make cost savings of £350 million over the course of its current financial year.
Today’s statement on price rises comes after the group already notably hiked the cost of posting letters by an average of around 7%, and parcel prices by an average of about 4% – which took the cost of a first-class stamp to 95p, and a second-class stamp to 68p.
But the Royal Mail says it still sees numerous threats from rising costs ahead, and claimed that it is now at a “crossroads”.
ADVERTISEMENT
The Royal Mail has said that it will have to raise prices for customers and cut costs / Credit: Geograph | Royal Mail
Explaining the current situation in its most-recent results statement, the Royal Mail said: “We are now at a crossroads.
“We need to deliver the benefits from change more quickly to deliver sustainable growth. We have made significant operational change already, but this needs to translate into real efficiency savings which deliver a financial benefit next year and beyond.
“Delivery of our existing agreements and the successful transition into the next agreements, as part of the current negotiations with the CWU, will be key to future profitable growth. We have made a substantial pay offer to our people which will enable the change we need to remain competitive, grow and secure their jobs for the future.
“Our market is changing quickly, and agility in our response is key.”
ADVERTISEMENT
The UK’s largest postal and courier service claimed it’s now at a “crossroads” / Credit: Royal Mail
Speaking more on the need to raise prices and cut costs going forward, Simon Thompson – Chief Executive at the Royal Mail – added: “As we emerge from the pandemic, the need to accelerate the transformation of our business, particularly in delivery, has become more urgent.
“Our future is as a parcels business, so we need to adapt old ways of working designed for letters and do it much more quickly to a world increasingly dominated by parcels.”
He added: “Our focus now is to work at pace with our people and our trade unions to reinvent this British icon for the next generations, so that we can give our customers what they want, grow our business sustainably and deliver long-term job security for our great team.
Almost Famous announce they are closing their Withington restaurant in candid statement
Danny Jones
The unfortunate hospitality news just keeps coming, it seems, as Almost Famous have announced they will soon be closing their Withington restaurant.
A staple of the Manchester foodie scene for over a decade now and with a growing empire across the North, the ‘dirty burger’ pioneers aren’t just one of the most recognisable restaurant names in Greater Manchester, they’re tastemakers and have been for years.
However, unlike the OG site in the Northern Quarter which first began blowing burger fans away back in 2012, their Great Northern Warehouse venue or their locations in Leeds, Almost Famous‘ Withington site simply isn’t working.
In truth, their most recent restaurant and fifth all-told had been struggling for a while and it was only back in May that they were thanking customers for helping them ‘pull through’ a rough patch, but it seems they’ve sadly slumped back into being quiet and can no longer continue in this fashion.
Explaining in the lengthy and clearly emotional statement, beloved owner Beau Myers wrote: “Announcement (sad sh***y one, sorry).
Sorry to say we will be closing the Withington branch of Almost Famous. It’s not working, we’re not busy enough and it’s dragging us down.
“Really sorry to disappoint you guys, we’ve tried and we’ve pushed and you’ve been amazing for supporting us, this just isn’t the one. Sometimes you have to hold your hands up, admit you f****d up, learn from your mistakes limit the damage and move on.
“We got sucked in with perhaps the most beautiful site ever in the wrong location (for us). It really is/was my fav[ourite] famous and I’m gutted it’s closing, it looks the coolest, we had the staff party there this year. I wish some of the art wasn’t straight on the wall so we could take it with us.”
Almost Famous Withington will be closing after their final dinner service next weekend. (Credit: The Manc Group)
They go on to add: “We will be closing after service on Sunday 22nd (next weekend). Please come down and say goodbye and enjoy this beautiful place one last time before it goes forever. There will be drinks and tears and laughs.
Having visited the particular branch a few times ourselves not only in a work capacity but in our own personal time, we can confirm the Withington restaurant had a special charm to it and we’re also very sad to see it go.
It goes without saying that the comments were filled with support, with one person writing, “This is so sad I’m so sorry: you’ve tried really hard. Sad loss for Withington”, and another adding, “Always sad when a place with friendly staff, serving good food, good drinks and at a reasonable price doesn’t make it… onwards and upwards.”
RIP Almost Famous Withy — we hope you come back one day soon and we’re sure the whole team will bounce back stronger than ever no matter what comes next for the much-loved brand.
The hearing over Manchester City’s 115 FFP charges will officially start next week
Danny Jones
After more than a year of speculation as to when proceedings will finally start, it has been confirmed that the hearing regarding Manchester City and their 115 FFP charges is set to begin next week.
Man City were first slapped with the laundry list of alleged breaches of FFP (financial fair play) and failure to comply with Premier League rules on profit and sustainability (PSR) back in February 2023, but little movement on the case has been reported since then.
In that time, they also won the coveted Treble and their record-breaking fourth league title in a row; meanwhile, the club have continued to deny all claims of rule-breaking.
However, it has now been revealed that City‘s hearing will now kick off on Monday, 16 September.
BREAKING: The hearing over Manchester City's 115 charges will start on Monday 🚨 pic.twitter.com/9ujOCryVMF
As explained in various reports, given the extended nature of the claims made against the Manchester side, it is estimated that the case could run on for up to two months if not longer.
Furthermore, it is thought a decision isn’t expected to arrive until spring 2025 – again, this is simply due to the number of charges brought up over the best part of a decade.
In case you need a refresher, the allegations levelled at Man City date back to 2009 and concern a supposed nine years of financial irregularities, as well as subverting UEFA FFP rules.
Some of the accusations made against them also include failing to cooperate with the European football body and the Premier League, as well as offering ‘secret contracts’ so as to pay one particular manager a larger sum than what they recorded in their financial statements.
The final verdict, whenever it is reached, will be handed down by an independent commission and City will still be able to make an official appeal.
It goes without saying that were they to be found guilty, it would be the biggest financial scandal in English football history and could be seismic for the future of money in the sport and regulations surrounding ownership, which have already grown tighter following the charges being issued.
And in case you needed a more detailed refresher on what exactly they are being tried for and what the possibilities are regarding punishment if found guilty, here’s a quick rundown:
Emily Sergeant -
19th May 2022 
