Royal Mail plans to reduce up to 2,500 jobs by the end of next year as it faces a decline in letter volumes and competition from the parcel delivery market. The company has reviewed its head office and support functions, aiming to simplify processes and save money. The reductions will come through natural attrition and voluntary redundancies, with frontline roles in delivery and processing unaffected. Royal Mail, owned by Czech billionaire Daniel Křetínský, is adapting to a rapidly changing market where letter volumes have fallen by more than 70% since their peak. The company has begun consultations with unions over the proposed changes.
The increase is attributed to record prices driven by global shortages and the impact of the Middle East crisis on supply. Shell’s refineries are expected to generate nearly double the profit per barrel due to higher refined fuel prices. The Middle East crisis also contributed to Europe’s largest oil and gas company recording a profit of nearly $10 billion in the second quarter of 2026, more than double the previous year’s figure.
Georgieva of the IMF warned that the AI boom could pose a 'far-reaching shock' if not managed properly, highlighting potential risks including large-scale labor market disruptions and cyber threats. However, she also noted that AI could boost global growth by half a percentage point annually if implemented correctly.