City round-up

Royal Mail heads to court to head off Christmas walk-out

Royal Mail letters post box

Postal services could be hit (pic: Terry Murden)

Royal Mail says it is making an application to the High Court for an interim order to injunct the CWU trade union over a threatened walk out at Christmas.

The union held a postal ballot of Royal Mail employees for industrial action but the company believes there are potential irregularities which would render it unlawful.

“The company is making this High Court application because the integrity and legal soundness of any electoral process is vital.

“This is particularly the case in relation to potential industrial action around the General Election on 12 December 2019.

“Royal Mail is also making this application because of the damage industrial action would do to the company and its customers in the run-up to Christmas”.

The company said it expects its application to be heard in the High Court next week.

Life company changes

Phoenix, the zombie funds manager, said that Clive Bannister, its chief executive, is retiring and will be replaced on 1 January by former Scottish Widows CEO Andy Briggs, who left Aviva earlier this year.

Full story: Bannister retires at Phoenix, Briggs takes over

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