Author: Archive

‘Express’ courier cos seek independent regulatory body

Posted by | Nov 21, 2005 | |

‘Express’ courier operators are seeking an independent regulatory authority to regulate the written communications sector. This follows a move by the government to entrust the Department of Posts to register operators carrying out functions of collection, transmission and delivery of documents and parcels through a proposed amendment. Section 4 of the Indian Post Office Act 1898 confers on the central government the exclusive privilege of collection, transmission and delivery of letters. In a memorandum addressed to union minister of information technology & communications Dayanidhi Maran, Express Industry Council states, “The proposed amendment to this section seeks to confer on the central government the discretion to authorise any person to engage in any or all the activities stated in that section.” In fact, this would mean direct competition to the traditional postal service, erode its financial viability and consequently, its ability to provide an affordable universal service.

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UK mail firm bosses jailed for dumping post

Posted by | Nov 21, 2005 | |

Two company directors who made a fortune from Britain’s biggest mail-dumping operation were both jailed for two years today. Inderpal Narula, 33, and Royston Heaton, 42, binned more than 360,000 letters and parcels in skips while working at London-based mail company Mail Logistics. The pair, who police believe could have netted as much as GBP3 million between them, were also fined hundreds of thousands of pounds each. Narula, from Green Lane, Burnham in Berkshire, was told to pay GBP500,000 and Heaton, of The Granary, Holton, Oxford GBP400,000 in compensation.

Passing sentence, Judge Andrew Goymer, gave them four months to find the money.

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Japan Post’s April-Sept net profit jumps 2.8 times

Posted by | Nov 21, 2005 | |

Japan Post’s net profit totaled 998.4 billion yen in April-September, about 2.8 times the figure for the same period last year, the state-run postal service company said Monday. Although Japan Post reported an asset impairment loss of 224.3 billion yen and costs of about 5 billion yen to prepare for privatization, such red ink was more than offset by returns from stock investment. Recurring profit went 2.38-fold to 1,526.6 billion yen, while revenue rose 20.0 pct to 12,220.4 billion yen.

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UK Royal Mail‘s Crozier denies pounds 2bn pensions rescue

Posted by | Nov 21, 2005 | |

Adam Crozier, chief executive of Royal Mail, last nightscotched reports that the Government had agreed to hand over pounds 2 billion to plug a pounds 4 billion pension black hole. “Absolutely not,” Mr Crozier said. “There is some confusion out there. It is not for the Government to finance the business but for the regulator Postcomm to ensure that the business can fund its activities and that is quite a difficult task.” A spokesman for the Department of Trade and Industry said that no decision had yet been taken about whether to give any money to plug the pension deficit.

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FedEx to set up Philippine backroom office after 2008

Posted by | Nov 21, 2005 | |

FedEx will consolidate its Asia-Pacific business process operations in the Philippines after it closes its regional air transshipment hub at the Subic Freeport zone in December 2008. The backroom office, to be located in a still unnamed site in Metro Manila, will handle most of FedEx’s human resource and accounting functions in Asia Pacific, from payroll to billing and invoicing.
“We are still working out the number of headcounts needed. But this will probably need close to 100 people,” Clifton Chua, managing director for Thailand, Indochina and the Philippines, said. At present, core accounting and human resource functions of FedEx in Asia Pacific are done individually per country, although it maintains a regional financial center in Singapore because its data center is there. “We will integrate whatever is possible. At the end of the day, there is some functions that you need to leave at the local country like the day- to-day servicing of your employees,” he said.

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Royal Mail research reveals Internet fuels growth of catalogues

Posted by | Nov 21, 2005 | |

According to new research from British postal service Royal Mail, online retailers will be relying on catalogues this Christmas to drive sales over the festive season. The survey conducted by Royal Mail questioned more than 20 online retailers including John Lewis Direct and Firebox.com and the findings highlighted the use of catalogues as one of the most effective promotion channels for generating online orders.

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British govt to bail out Royal Mail with 2 bln stg lifeline

Posted by | Nov 20, 2005 | |

The British government has agreed to inject 2 bln stg into Royal Mail, securing the future of the monopoly operator of the country’s household postal delivery service, the Financial Mail on Sunday reported. The paper, citing an unnamed company source, said finance minister Gordon Brown had approved a deal to subscribe for new shares in Royal Mail. The funds will be used partly to plug a 4.5 bln stg pension fund deficit. Stamp prices will also be raised in order to help pay for an extra 2 bln stg of investment in new equipment.

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Minister moves to allay UK Royal Mail sell-off fears

Posted by | Nov 19, 2005 | |

A minister has moved to allay Labour MPs’ fears that the government might stage a back-door privatisation of Royal Mail, telling them it will not renege on a manifesto pledge to keep the postal operator in public hands. Opposition to any change in ownership has grown. Nick Brown, a former cabinet minister and an ex-party whip, added his name to a Commons motion on the issue yesterday, taking the number of Labour signatories to 185, more than half the parliamentary party.
In a briefing note to backbenchers Alan Johnson, trade and industry secretary, moved to ease their concerns, saying the government, the sole shareholder, had an open mind on a proposal to set up a share trust for Royal Mail workers “as long as it would be compatible with our manifesto commitments”. Mr Johnson’s note argued that an employee share scheme, an idea that is opposed by the Communication Workers Union, was “one option . . which could help give workers a stake in the company that they worked for”. He added: “We are not committed to this scheme, and there are other alternative ways to increase employee involvement.”

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