Author: Archive

DPWN to Issue €1 Billion Bond

Posted by | Aug 29, 2002 | |

Corporate bond prices hit rock bottom at the start of August, and have been rising ever since. Analysts say that spreads on European corporate bonds have tightened by 40 to 50 basis points on average in that period, with telecoms and autos spreads between 100 and 200 basis points tighter, depending on company. Industrial credits have seen more modest tightening, of between 10 and 20 basis points. ‘We have had a very good run over the last two weeks or so, in terms of both equity prices and credit spreads,’ said Giles Hudson on the syndicate at Morgan Stanley. ‘But things are now flattening out a bit.’ While there is theoretically still more potential for credit spread tightening, according to analysts, whether prices will continue to rise or not will depend on a number of factors. These include the amount of new corporate bond supply, the uncertain geopolitical situation regarding US and Iraq, and the health of the US economy.

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Czech Post Office Ceska Posta to raise rates by 6 pct as of Sept

Posted by | Aug 29, 2002 | |

The Czech Post Office Ceska posta will raise its rates by 6 pct on average as of September, which will bring in an additional Kc250m in its revenues, head of Ceska posta CEO’s office Karel Kettner told CTK today.
For example, it will cost Kc1 more, Kc6.40 instead of Kc5.40, to send letters and postcards. To send a registered letter one will have to pay Kc17 instead of the current Kc14.40. Fees for payments by postal orders will also rise.
Ceska posta will use the funds for investment which has been long planned, Kettner elaborated.
The company invests some Kc1bn annually.

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Deutsche Post wins approval to deliver UK mail

Posted by | Aug 29, 2002 | |

Deutsche Post has become the first of the big foreign postal operators to attempt to show the loss-making Royal Mail that it can deliver the post more efficiently. The German company yesterday was awarded an interim licence from the regulator Postcomm, pitting against the likes of Hays and Express Dairies’ milk floats in the battle to provide an alternative to Royal Mail.

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Postcomm consults on a licence modification for UK Mail

Posted by | Aug 29, 2002 | |

Postcomm today began consultation on an application from UK Mail Ltd for a modification to its interim postal licence. If granted, the modification would enable the company to provide a full postal service to an unrestricted range of existing customers in the event of serious industrial disruption to the universal service.

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Postcomm grants an interim licence to Deutsche Post

Posted by | Aug 28, 2002 | |

Following consultation, Postcomm today issued a short-term licence to Deutsche Post Global Mail (UK) Ltd. The licence, which runs for one year, will enable Deutsche Post to provide a mail service to a small group of new clients and existing clients of the company’s cross-border postal services between customers in different member states of the European Union.

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A new substantial customer for Business Post

Posted by | Aug 27, 2002 | |

Business Post Group PLC, one of the UK’s leading express delivery companies, announces that its Express business has reached agreement to act as sole carrier for Systemax Europe Limited with immediate effect.
Systemax, which trades in the UK as Globaldirect, Misco and Simply Computers, is a supplier of computer hardware, software and peripherals. The distribution warehouse for Systemax is based in Greenock, Scotland. The account, which is estimated to have an annual value of over £3.5 million, will be handled by Business Post’s Glasgow depot.

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Multi-Modal Service Speeds Shipments Across the U.S.

Posted by | Aug 27, 2002 | |

UPS (NYSE:UPS) has launched a new ocean option for shippers who manufacture goods in China and Brazil and import into the United States. The new service dramatically speeds the movement of ocean-transported goods by minimizing stops on land. The new service, UPS Trade Direct Ocean, transforms ocean-containers into pre-labeled small packages or less-than-truckload shipments. Shipments move from the ports to nearby UPS freight facilities with minimal handling, processing and storage.

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Security fears on pinta post mail `left on open view'

Posted by | Aug 27, 2002 | |

Milkmen delivering mail in Liverpool could be wide open to theft, a detective has warned. Express Dairies is piloting a “pints and parcels” project in the city. The dairy insists the mail is kept in a secure locker. But one worried policeman says he saw mail left on open view.

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