Post Office counter staff have overwhelmingly rejected a 2.4pc pay offer, opening up a second front in the Royal Mail’s ongoing dispute with the Communication Workers Union.
National officer Andy Furey warned that a refusal to sweeten the offer could lead to a ballot over industrial action by more than 7,000 counter services and cash-in-transit staff.
In a consultative ballot, 91pc of votes were cast against accepting the Post Office’s offer.
Read MoreTNT Germany at Bern said that the German mail market was 10 billion Euros with 40% liberalised. There is no real competition and no clear time table for liberalisation. TNT want the German regulator to ensure the level playing field and fair play and not manage competition.
If the regulator sets out subscribed models then he restricts innovation, which was his major comment.
Paul J
Deutsche Post AG said it is redeeming the three-year exchangeable bonds it issued in 2004, by allowing bondholders to exchange them for Deutsche Postbank AG shares one year before the issue matures in July 2007.
In a statement, the post office group said bondholders can exercise their right to exchange the bonds for Postbank shares from July 3-23 this year. Once all the bonds are exchanged for Postbank shares, the banking unit’s free float will increase to 49.9 pct from the present 33.3 pct, while Deutsche Post’s stake in the unit will be reduced to about 50.1 pct.
Read MoreUPS Inc. and its pilots union have reached a tentative agreement on a new contract, which, if approved, would end a stalemate that dragged on for more than three years and included the pilots’ threat of a strike, the union said Friday.
The union said in a statement that the agreement would run through 2011 and must be ratified by the nearly 2,500 pilots at the Atlanta-based company.
Terms of the new contract include an hourly pay raise of 17.7 percent for top captains with at least 12 years of service and higher health care premiums paid by all pilots, according to a person who has seen the agreement but spoke on condition of anonymity because neither side has been authorized to release details.
Read MoreThe Independent Pilots Association (IPA) and UPS Airlines today announced a tentative agreement on a new labor contract.
The agreement provides for wage and pension improvements and a variety of changes to work rules. It also enables the company to reward its pilots in a responsible manner, maintaining the flexibility needed to serve customers and expand the business while remaining competitive.
Specific details of the accord will not be disclosed before the IPA presents the tentative contract to all UPS pilots. The contract must be ratified by a majority of UPS’s 2,700 pilots. According to the IPA, a vote by the pilots probably will be completed by mid-September.
Read MoreInternational Mail Air Rates
Read MoreUPS and the U.S. Postal Service extend the olive branch yesterday and signed a three-year contract that will see UPS fly first-class and priority mail to 98 cities.
The two have been rivals for several years, but both agreed that the agreement would be beneficial to both sides and could mean further cooperation in the future. The contract, which includes an option for one two-year extension, expands an existing relationship between UPS and the USPS under which the company provides airlift for mail transportation between 16 cities. The contract will start July 1.
Read MoreBrazilian state-run postal service company Correios recorded a record-high net profit of 400 mln Brazilian reais ($180.28 mln/143.8 mln euro) in 2005, up 30 pct year-on-year, the local media reported on June 29, 2006.
The company’s net revenue hit 8.7 bln reais ($3.921 bln/3.128 bln euro) in 2005, a 7.5 pct year-on-year increase.
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