This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7046191.stm

The article has changed 12 times. There is an RSS feed of changes available.

Version 5 Version 6
Postal union leaders resume talks Latest postal strike called off
(40 minutes later)
Postal workers' union leaders have resumed talks on whether to accept a deal to end Royal Mail strikes. The Commununication Workers' Union (CWU) has called off strike action which had been set for later this week.
The Communication Workers' Union (CWU) must decide whether to recommend the deal, aimed at resolving a long-running row over pay, jobs and pensions. The suspension comes as the union's executive continues talks on whether to accept a Royal Mail deal.
The deal, being discussed on Tuesday, is thought to give CWU members a 6.9% pay rise over 18 months. The CWU must decide whether or not to recommend the offer, which is aimed at resolving a long-running row over pay, jobs and pensions.
The deal is thought to give CWU members a 6.9% pay rise over 18 months.
A series of 48-hour stoppages and unofficial walkouts is estimated to have cost Royal Mail more than £200m.A series of 48-hour stoppages and unofficial walkouts is estimated to have cost Royal Mail more than £200m.
The union had plans for strikes to be carried out in various parts of the country on different days this week.The union had plans for strikes to be carried out in various parts of the country on different days this week.
But CWU's failure to serve the notice correctly meant strikes planned for Monday and Tuesday had to be called off following a Royal Mail injunction, explained a union representative. Other strikes could still take place.But CWU's failure to serve the notice correctly meant strikes planned for Monday and Tuesday had to be called off following a Royal Mail injunction, explained a union representative. Other strikes could still take place.
The CWU told the BBC an agreement on whether to continue with planned strikes was likely to be resolved on Tuesday afternoon.The CWU told the BBC an agreement on whether to continue with planned strikes was likely to be resolved on Tuesday afternoon.
Marathon talksMarathon talks
Leaders of the CWU are presenting the terms of the deal to the union's executive at their headquarters in Wimbledon.Leaders of the CWU are presenting the terms of the deal to the union's executive at their headquarters in Wimbledon.
DEAL POINTS 6.9% pay rise from 1 October 07 to 1 April 09Consultation on ending final salary pension schemeFlexible working to be trialled and agreed locallyDEAL POINTS 6.9% pay rise from 1 October 07 to 1 April 09Consultation on ending final salary pension schemeFlexible working to be trialled and agreed locally
The agreement was hammered out last week during marathon talks with Royal Mail's chief executive Adam Crozier.The agreement was hammered out last week during marathon talks with Royal Mail's chief executive Adam Crozier.
Despite Friday's agreement, wildcat strikes have continued to disrupt services in some areas.Despite Friday's agreement, wildcat strikes have continued to disrupt services in some areas.
Unofficial action has been taking place in Yorkshire and Liverpool, with union representatives in Yorkshire reportedly opposed to working later hours.Unofficial action has been taking place in Yorkshire and Liverpool, with union representatives in Yorkshire reportedly opposed to working later hours.
In a survey of more than 250 company heads, half of the respondents said the strike had cost their companies at least £1,000.In a survey of more than 250 company heads, half of the respondents said the strike had cost their companies at least £1,000.
According to the London Chamber of Commerce, the nationwide mail strikes have cost the city more than £300m.According to the London Chamber of Commerce, the nationwide mail strikes have cost the city more than £300m.
Flexible workingFlexible working
A ballot of 130,000 workers will be called if the CWU accepts the Royal Mail settlement.A ballot of 130,000 workers will be called if the CWU accepts the Royal Mail settlement.
A simple majority would be needed to approve the deal. The results would be declared one month later.A simple majority would be needed to approve the deal. The results would be declared one month later.
While no details have been released, the BBC understands that the 6.9% pay rise over 18 months will consist of a 5.4% pay rise between 1 October 2007 and 1 April 2008, followed by a 1.5% pay rise from 1 April 2008 to 1 April 2009. Workers will also receive a lump sum payment of £175.While no details have been released, the BBC understands that the 6.9% pay rise over 18 months will consist of a 5.4% pay rise between 1 October 2007 and 1 April 2008, followed by a 1.5% pay rise from 1 April 2008 to 1 April 2009. Workers will also receive a lump sum payment of £175.
In addition, the CWU has agreed to support consultation on ending the current final salary pension scheme.In addition, the CWU has agreed to support consultation on ending the current final salary pension scheme.
The CWU has previously said that the Royal Mail's modernisation plans would cost 40,000 jobs.The CWU has previously said that the Royal Mail's modernisation plans would cost 40,000 jobs.