OTTAWA.—  Postal Union (CUPW) announced it had reached “agreements in principle with Canada Post covering both postal bargaining units”. According to the union, this means both sides have agreed on the main points of the deals, but “we need to agree on the contractual language that will form the collective agreements that would be put to a vote by the members,” it added. Under the terms of the agreements in principle with Canada Post, the current collective agreements will remain in full force and effect. “Upon signing the agreements, the union agrees to pause its strike action, and the employer agrees to suspend its right to lockout. The union will retain the right to strike until new agreements are ratified,” CUPW added in its statement. Canada Post has reported a C$541m pre-tax loss in the third quarter of 2205, the company’s largest ever recorded quarterly loss and up C$226m compared to the same quarter last year. Canada Post’s revenue fell by C$283m, or 18% compared to the same periods of the prior year.