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Wednesday newspaper round-up: Royal Mail, China, M&S

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Privatisation of Royal Mail will provoke strike by the Unions; Chinese exports and imports decline in June; last founding member of M&S to sit on its board...

Union leaders have said the privatisation of Royal Mail would provoke a strike as they criticised plans by ministers to give 150,000 workers shares worth up to 2,000 pounds in the flotation of the company, The Times reported.

Chinese exports and imports declined in June by 3.1% and 0.7% year-on-year, respectively, according to data covered by the Financial Times.

Sir David Sieff, the last founding family member of Marks & Spencer to sit on the board has said the retailer has lost its way but backed Chief Executive Marc Bolland’s plan to turn it around, The Telegraph revealed.

The Co-operative Bank‘s £1.5bn rescue package came under fire on Tuesday from bondholders who accused Britain’s Prudential Regulation Authority of taking a punitive and arbitrary approach to the bank’s capital requirements, The Guardian said.

The International Monetary Fund said the UK economy will expand faster than previously forecast this year, but weak manufacturing figures showed that the economy remains deeply unbalanced, The Independent noted.

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