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Nik Storonsky, CEO of Revolut, expressed concerns about the UK stock market's liquidity and high transaction costs compared to the US. He indicated that a public listing in the US is more appealing for the fintech company, which recently achieved a $45 billion valuation. Barclays' CEO echoed similar concerns about the UK market's decline.
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Daniel Kretinsky's bid to acquire Royal Mail's parent company, International Distribution Services, is nearing completion. The UK government is reviewing the deal under the National Security and Investment Act, with Kretinsky offering guarantees to address concerns about his alleged ties to Russia.
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Ofcom has imposed a £10.5 million fine on Royal Mail for failing to meet delivery targets in the 2023-2024 financial year. This marks the second consecutive year the company has faced penalties for poor service, with only 74.7% of first-class mail delivered on time.
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The UK government has approved Daniel Kretinsky's £3.6 billion takeover of Royal Mail's parent company, International Distribution Services. The deal includes commitments to maintain the postal service's operations and headquarters in the UK, ensuring its long-term viability amidst declining usage.