Year: 2005

TNT says it finds evidence of illegal acts in tax

Posted by | Sep 23, 2005 | |

TNT NV said it has found evidence past tax transactions were handled illegally, sending the shares down as much as 8.1 percent, the most in four years. The company, based in the Dutch city of Hoofddorp, is probing tax matters in the UK as well as the tax position of some non-UK subsidiaries, TNT said a statement on its Web site. TNT spokeswoman Daphne Andriesse declined to give further details. TNT, which employs 161,000 people and delivers packages around the world, in March last year took a charge of 59 million euros (USD72 million) for underestimating UK tax liabilities. TNT may face tax claims of as much as 400 million euros, including interest and possible fines, Dutch daily De Telegraaf reported, without saying where it got the information.

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UK Postal Competition Countdown: 100 days to go

Posted by | Sep 23, 2005 | |

There are just 100 days to go to the New Year and a fully free and open UK postal market. Already competition for bulk mail has brought about improvements in prices, quality and range of services. Postcomm, the regulator, and Postwatch, the consumer watchdog, expect full competition to continue this momentum, further improving postal services, keeping prices in check and stimulating much-needed innovation. Nigel Stapleton, chairman of Postcomm said: “Opening the mail market to competition will create a more vibrant postal market in the UK. It will introduce choice to a market that has been a monopoly for 350 years. “With 100 days to go, we believe that everyone will win. Customers will win through greater choice, new operators can win by innovating and developing new services, and Royal Mail can continue to grow and thrive. We have already seen marked improvements in Royal Mail’s performance as we move towards full market opening.”

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Businesses using new licensed operators

Posted by | Sep 23, 2005 | |

From Postcomm press release
Examples of well-known businesses that have moved mailings to the new licensed operators include: Vodafone, Powergen, Royal Bank of Scotland and the Inland Revenue who use UK Mail. Waitrose, Barclay’s, Alliance & Leicester, BSkyB and Lloyd’s TSB who use TNT Mail and Tesco, which uses DHL Global Mail

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Portugal CTT to launch express mail service on Iberian Peninsula

Posted by | Sep 23, 2005 | |

Portugal’s postal operator CTT-Correios de Portugal will launch as of October 1, 2005 its express mail service on the whole Iberian Peninsula, it was reported on September 21, 2005. Tourline Express will be the company responsible for CTT’s express mail services in Spain. CTT acquired Tourline Express for 28.5 mln euro (USD34.6 mln) in June 2005. According to CTT’s chairman, Luis Nazare, the acquisition of Tourline Express was the first step in the process of integration of all CTT’s operations in the segment of the express mail deliveries on the Iberian Peninsula market.

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DHL Express to set up 10 new centres in India

Posted by | Sep 23, 2005 | |

DHL Express (India) Pvt Ltd is investing USD10 million to set up 10 new centres during 2005 and 2006. It has a share of 60 percent in the domestic express shipments market. The company intends to maintain its annual growth rate of 25 percent.

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Post Office and Gift Voucher Shop join forces with top UK retailers to deliver new gift voucher service

Posted by | Sep 23, 2005 | |

The Post Office and The Gift Voucher Shop today announce an exciting new gift voucher service to help lift some of the gloom surrounding declining high street retail sales. The new gift voucher service will be available at all of the 14,600 Post Office branches nationwide, giving the 28 million customers who visit the Post Office every week access to an extensive range of high street retailers.

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FedEx raises earning hopes

Posted by | Sep 22, 2005 | |

FedEx yesterday increased its full-year earnings forecast following a stronger-than-expected first fiscal quarter. The upbeat announcement erased much of the concern sparked among investors by more sluggish results in the fourth quarter of last year. Shares in the company rose nearly 8 per cent to Dollars 83.15 in response. Fred Smith, chairman and chief executive, said he remained optimistic about the US and world economy despite the impact of record fuel prices and Hurricane Katrina. FedEx and other logistics companies are considered economic bellwethers because of theircentral role in global trade. “We see continued improvement in the global economy. Trade is deepening and global trade is growing faster than (US) gross domestic product,” he said. First-quarter net profit increased by a modest 3 per cent to Dollars 339m, or Dollars 1.10 a share. However, those figures were depressed by a Dollars 79m one-off charge related to accounting changes.

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K+N protests as Deutsche Post swoops for Exel

Posted by | Sep 22, 2005 | |

Swiss logistics company Kuehne + Nagel has criticised the likely takeover of UK-based supply chain giant Exel by Germany’s Deutsche Post. ‘This is a serious threat to free market competition,’ K+N’s chairman Klaus-Michael Kuehne said, according to Swiss daily Tages- Anzeiger. Mr Kuehne has repeatedly attacked the German market leader for its monopoly in standard letter delivery, which was providing easy cash funds for acquisitions in the logistics industry. ‘Apart from the fact that the logistics industry in its medium-sized structure will be faced with unfair competition, there is now a serious threat to free competition through the utilisation of the mail monopoly to finance the merger of Deutsche Post and Exel,’ he said earlier this month. A spokesman for Deutsche Post strongly dismissed the attacks. In response to suggestions that there was a connection between profits from the mail business and investments in logistics companies such as Danzas, DHL or Airborne, he said: ‘This is definitely wrong. Mr Kuehne is telling untruths.’

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