Today in business: 5 things you need to know

The Postal Service will stop delivering letters on Saturday, RBS pays a hefty fine, and more in our roundup of the business stories that are making news and driving opinion

The Royal Bank of Scotland will pay $612 million to British and U.S. authorities.
(Image credit: Matthew Lloyd/Getty Images)

1. POSTAL SERVICE TO STOP DELIVERING LETTERS ON SATURDAY

The U.S. Postal Service on Wednesday announced that it would stop delivering letters on Saturday, the debt-embattled agency's most drastic step yet to reduce costs. The Postal Service's financial problems largely stem from costly retiree payments, as well as a general decline in mail volume as people increasingly rely on the internet to communicate. The move, which may face resistance from Congress, could affect businesses across the country that expect to receive mail on Saturdays. [Associated Press]

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Ryu Spaeth

Ryu Spaeth is deputy editor at TheWeek.com. Follow him on Twitter.