Royal Mail PLC (RMG.L)
** Britain's former postal monopoly Royal Mail Plc down 3.1% at 197.1p after HSBC downgrades stock to 'hold' from 'buy' and cuts PT to 216p
** Royal Mail shares hit record low of 198.25p, down 9.2%, taking this week's losses to 15%
Royal Mail Plc slashed its dividend by 40% on Wednesday to fund a new five-year turnaround drive focused on expanding its parcels business internationally to better position the group for a future dominated by online deliveries.
* UK growth, parcels push main priority - CEO (Adds CEO, analyst comments, shares, details on parcels push)
May 22 Royal Mail Plc on Wednesday slashed its dividend by 40% and said it would invest a further 1.8 billion pounds ($2.29 billion) in its UK postal service over the next five years in hopes of turning the business around.
Royal Mail Plc said Deputy Chairman Keith Williams will replace Les Owen as chairman, becoming the third person to hold the role in the past year.
March 22 Royal Mail Plc said Deputy Chairman Keith Williams will replace Les Owen as chairman, becoming the third person to hold the role in the past year.
March 22 Royal Mail Plc said on Friday Deputy Chairman Keith Williams will succeed Les Owen as chairman in May.
* SCHRODERS PLC DISCLOSES 5.005 PERCENT STAKE IN ROYAL MAIL PLC - FILING Source text for Eikon: Further company coverage:
Royal Mail Plc reined in its full-year profit forecast on Tuesday and spoke of a larger than expected decline in letter volumes, sending its shares down as much as 18 percent to a record low.