Poste Italiane’s auditor, PricewaterhouseCoopers (PwC), is looking into a swap set up three years ago by the Italian postal group. The auditor has asked to show losses worth €104 million in the group’s accounts. The use of speculative derivatives is now fairly common practice for companies, which are not required by current accounting standards to add them to the balance sheets. The auditors, however, are against this.
Read MoreGeopost, the courier subsidiary of French post office La Poste, is bidding for the 18 percent of Spanish courier group Seur being put up for sale by Justo Yufera, founder of the company. Mr Yufera is selling Seur Madrid, which is the main franchise of the group and represents 18 percent of Seur. Expansion reports that La Poste is in talks to buy a 21.2 pct stake of Seur and that the deal could face difficulties due to the Spanish company’s charter which prevents its sale to a competitor.
Read MoreThe annual general meeting of OptiMail AB held on 10 March 2004, resolved to declare a dividend for 2003 of SEK 0.50 per share, equivalent to SEK 6.5 million. The record day for the dividend is Monday, 15 March 2003. With this record day, it is estimated that payment of the dividend from VPC AB can take place on Thursday, 18 March 2004.
Read MoreWith only a few exceptions, Royal Mail is required to collect mail at least once every working day from all 115,000 post boxes and over 16,000 post offices throughout the UK, as part of its universal postal service.
As part of its process of defining the universal postal service, Postcomm has began consulting on how those few exceptions should be defined. Postcomm has already, in January 2003, issued a direction on exceptions to Royal Mail’s daily postal delivery obligation.
Read MoreA 900-strong postal banking network has been launched across turkey. The Turkish postal telephone and telegraph’s (PTT) new project called PTTBANK was unveiled in a ceremony attended by transportation minister, Binali Yildirim and UPU director general, Thomas Leavey.
Read MoreAustralia post has built its first ‘Biller branded’ internet bill payment system for the Australian Gas Light company (AGL).
The 3.1 million customers of AGL, one of the country’s largest energy suppliers, in selected parts of the country can now pay their bills on-line directly from the AGL web site as well as the POSTbillpay internet portal.
TNT new contracts exceed billion euros
Read MoreHong Kong. FedEx has extended its partnership with Kodak in Ltd in Hong Kong by setting up FedEx self-delivery service counters in Kodak express shops, providing more drop-off points for customers to deliver their shipments. This follows the launch of a similar partnership with Kodak in Malaysia, where eight Kodak stores offer courier services.
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