THE DAILY BRIEFING
POSTAL WOE The cost of maintaining its defined pension scheme would be higher than previously expected, the Royal Mail claimed yesterday.
The delivery firm is looking at ways to replace the scheme after a backlash from unions over its closure.
It said the annual cost of funding the plan would be £1.3bn after next year having previously said the amount would rise to £1bn by 2018.
BOSS QUITS The boss of BT’s television and sports business has resigned in the wake of the telecoms giant’s successful £1.2bn bid to retain the rights to Uefa Champions League football. Delia Bushell is expected to remain in her post until June.
ANNUAL BOOST Sales in The Hut Group soared by 50pc to £510m in the year to December 31 as the online health and beauty retailer ramped up its acquisitions. The group spent more than £60m on deals last year. International sales rose 89pc to £316m in a year it added 1,200 UK jobs.
FLIGHT TIMES No-frills Ryanair said 91pc of its flights arrived on time last month. The airline, which flew over 62,000 times in April, had received less than 1.5 complaints per 1,000 customers.
BOARD ROLE The former boss of hedge fund Lansdowne Partners has joined the board of South Americafocused oil and gas producer Amerisur Resources. Alex Snow has been made a senior independent non- executive director. The 48-year-old quit the Mayfair hedge fund at the end of last year.
OFFERS CALL Renewable energy firm Active Energy Group says it will consider offers for its wood chip operations in Ukraine. The company wants to focus instead on forestry management in other parts of the world and on developing its biomass product. Shares fell 3.2pc or 0.08p to 2.3p.
PAY DEAL Logistics firm DHL has agreed to pay workers more after they threatened to strike. Staff at three supply chain sites in South Yorkshire have accepted a pay offer of 2.6pc, up from the 1.26pc offered at first.
DEB’S STAKE Sports Direct has again upped its stake in Debenhams. Mike Ashley’s brand holds 17.08pc of the department store chain’s shares, in a combination of share options and contracts-for-differences.