Author: Archive

Salvesen half year results

Christian Salvesen PLC, the European logistics group,
reported a 17.4 pct fall in underlying pretax profit, blaming its German and
Spanish operations, where the downturn in the industrial market place combined
with the ongoing impact of the sharp rise in fuel prices a year ago, has
resulted in poor performances.

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US Postal Service reports $1.7B loss

Battered by the terrorist attacks and a declining economy, the Postal Service saw its first drop in volume in a decade and finished the fiscal year with a $1.68 billion loss.
Managers are scrambling to cut expenses, seeking help from Congress and discussing the possibility of speeding up a rate increase.
“The economic recession, the Sept. 11 attacks and the anthrax attacks tossed our financial situation up in the air,” Postmaster General John Potter said Tuesday.

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Global crossing managed IP network helps Royal Mail get sorted

Global Crossing (NYSE: GX) has begun the implementation of a fully managed wide area network for the Royal Mail in the UK under a contract with Lockheed Martin Integrated Systems worth an estimated GBP23 million. Royal Mail is the nationwide postal service operated by holding company Consignia.

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