Patrick Werner, managing director for financial activities at La Poste, the French national postal services group, has said that he intends to submit plans for expansion in financial services, including the creation of a postal bank, to banking regulator CECEI in the second half of September this year. Mr Werner said he expected a response by the end of the year and that the bank would be created early in 2005.
Read MoreThe USPS is ending its sponsorship of celebrated cyclist Lance Armstrong, winner of five consecutive Tour de France races.
The agency has sponsored Armstrong’s pro cycling team for eight years and will continue to do so through the end of 2004. Spokesman Gerry McKiernan said the agency has decided to go “in another direction” with its advertising. Asked if that meant some other sport relationship, he said “it’s possible.”
Cycling is popular in Europe and postal officials had sponsored Armstrong’s team in an effort to increase their international business.
Read MoreAccording to the Estonian Statistical Office 76.8 million letters were sent in Estonia by post in 2003, 1.4 million fewer than in 2002.
The number of parcels sent by post fell from 0.2 million to 0.1 million during the year. Distribution of periodical publications by post declined to 71.3 million copies from 72.4 million the year before.
Read MoreTipton-based Nightspeed Secure Worldwide Express has revealed it is to move into the pallet sector through a partnership, to include cross-selling of services, with an existing network. Alistair Meikle, sales and marketing director, says: “We’re not going to hang around on this and are in the process of talking to a system.”
Read MoreUPS has reported an 11.3percent increase in revenue and a 24percent gain in net income for the first quarter, reflecting strong results in all three business segments. Scott Davis, UPS’s chief financial officer, pointed to three highlights for the quarter including an increase in average U.S. ground and air volume of nearly 600,000 packages a day, or 5percent; a doubling of international profit to USD269 million, and double-digit revenue growth in the UPS Supply Chain Solutions unit.
Read MoreI have heard today that DP have purchased an independent postal operator in Germany called First Mail Düsseldorf. This was done in secret on July 1st 2003 and was not apparently notified to the regulator, which they should have done. The Regulation says that if any company purchases more than 10% of a licensed postal operator they must inform the Regulator, but apparently there is no fine or penalty for not doing so. There have been some rumours and it will be published for the first time by Ludwig-Michael this Saturday – he will send us a copy of the article. The Regulator has confirmed that they have not been formally notified, although they had also heard rumours in the market place.
(above note from Robin Parr-Davies)
La Poste, will reportedly announce a sixfold increase in profit for 2003, to 202m euros, from 34m in 2002. Despite these positive figures, the parent company would reportedly have made a loss in the period in question, had it not received 200m as a result of the increase in the price of postage stamps, which came into effect on 1 June 2003. In addition, the public company registered an operating margin of -0.6 per cent, compared with 5 per cent and 6 per cent respectively for counterparts Deutsche Bank of Germany and TPG of the Netherlands.
Read MoreThe Post Office is to more than double the number of branches which offer on-demand Bureau de Change services. It says it is increasing the provision to keep up with the ever-growing amount of cash UK holiday makers spend abroad. The number of its branches offering the service will rise from 640 to 1,690, as some 15 million British people are expected to spend GBP30 billion abroad in 2004.
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