Deutsche Post World Net AG is mulling taking steps against Deutsche Bank AG for creating uncertainty ahead of the initial public offering (IPO) of Deutsche Post’s Postbank unit, Welt am Sonntag reported citing sources at Deutsche Post.
Deutsche Bank is lead manager for Postbank’s IPO, scheduled for June 21.
Read MoreGeoPost UK is to invest GBP40m (EUR60m) over the next three years in new hubs for its Parceline and Interlink Ireland operations.
The Parceline facility, likely to be built in the Birmingham area, will operate in tandem with the existing Smethwick site and will double current handling capacity of 24,000 parcels an hour. Interlink Ireland’s dated hub in Athlone “will have to be rebuilt by 2006 at the latest,” CEO Kay Phillips told IFW.
Read MoreFedEx, reportedly will sign on June 2 a USD450-million deal to formally relocate its Asia-Pacific business hub to Clark Field, Pampanga from the Subic Bay Freeport in Zambales.
“The deal will be concluded when FedEx executives come to the country this Wednesday. We’re just finalizing the extent of the lot they will lease,” an official said, on condition of anonymity. The official also said China was still hoping to snatch the FedEx deal from the Philippines.
FedEx’s contract with Subic Bay Metropolitan Area (SBMA) lapses in 2007, and the Tennessee-based firm reportedly plans to move to Guangzhou.
Read MoreJapanese Prime Minister Junichiro Koizumi is planning to create a new ministry to direct postal privatisation, the Yomiuri Shimbun newspaper said Monday.
“To ensure the privaization of Japan Post, scheduled for 2007, the prime minister will create a new portfolio for a minister in charge of postal service reforms,” the paper said. It cited sources in Koizumi’s ruling Liberal Democratic Party.
Read MoreRoyal Mail chiefs have clashed with trustees over the amount of equities in the organisation’s GBP16bn pension scheme.
The employer is to maintain a high exposure to equity investment even though trustees want to reduce risk in the fund by investing in more bonds.
The scheme is to move to a 70percent equity position following a review of asset allocation. However, trustees are understood to have wanted to limit equity investment to 65percent in an attempt to control risk.
Read MoreDeutsche Post AG workers will go on a nationwide strike unless the German postal company agrees terms in the next round of wage negotiations starting tomorrow, union ver.di warned. Warning strikes staged over the past several weeks have shown that workers are prepared to walk out, a union spokesman said.
Read MoreThe Royal Mail’s star management team, led by Allan Leighton, the prolific serial director, and Adam Crozier, the former head of the Football Association, should be sacked within a year unless they can improve standards of service, according to an influential Member of Parliament. Martin O’Neill, the chairman of the Commons Trade and Industry Select Committee, told The Sunday Telegraph that the political pressure to get delivery standards to acceptable levels is now intense. “I don’t think anybody is under any illusion that if by this time next year service levels haven’t picked up, the Government will be very impatient with the people who have failed to deliver the goods,” he said. The Government is the sole shareholder in the Royal Mail.
Read MoreBusiness leaders have thrown down a challenge to Royal Mail bosses to improve postal deliveries to small firms. They have been dissatisfied since January, when a new single delivery service replaced the old system of a first and second post. The Federation of Small Businesses met Royal Mail boss Adam Crozier on Friday to demand an improved service to small companies and post delivered at a reasonable and predictable time each day.
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