Tag: Domestic

Swiss Post: Postal legislation – Improvements needed

Posted by | Oct 22, 2008 | |

The parameters decided by the Federal Council for the new postal legislation must be improved. Swiss Post needs more entrepreneurial scope to provide a high-quality basic service in the future and to succeed against growing competition from international contenders in the free market. In setting political requirements it is thus calling for a more restrictive stance. Swiss Post is unable to understand why the Federal Council has not proposed a constructive solution for the further development of PostFinance. This is a missed opportunity not only for a successful Swiss Post Group but also for Switzerland’s economy as a whole.
Swiss Post wants to provide a high-quality basic service in the free market too, as decided by the Federal Council. However, it will only be able to do this in the long term if the parameters are right. Under free competition, Swiss Post needs more flexible legal operating conditions so that it can act in an entrepreneurial way in the dynamic logistics and financial services markets. An open company purpose is crucial for this.

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EU OKs aid on Poste Italiane bond distribution

Posted by | Oct 22, 2008 | |

Remuneration paid by Italy to Poste Italiane for postal bond distribution between 2000 and 2006 did not constitute illegal state aid because it was in line with market rates, the European Commission ruled on Wednesday. .
The Commission started looking into Poste Italiane’s activities in postal bond distribution in 2006, following a complaint.
Poste Italiane is remunerated for distributing postal savings books and postal bonds on behalf of Cassa Depositi e Prestiti, whose mission is to foster the development of public investment, local utility infrastructure works and major public works of national interest.
Postal bonds are fund-raising instruments with a low risk profile, as reimbursement is state-guaranteed. The services of placement, management and redemption of postal bonds have to be free of charge for the subscribers.
The collection of postal savings through Poste Italiane on behalf of Cassa Depositi e Prestiti has been qualified as a Service of General Economic Interest since October 2004.
This means Poste Italiane is entitled to receive remuneration for the distribution of postal bonds as compensation for the provision of this public service obligation.
Since 2000, this remuneration has been based on successive Italian conventions.

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Mandelson fuels Royal Mail speculation

Posted by | Oct 22, 2008 | |

A crucial review on the future of Royal Mail is set to be delayed, Lord Mandelson suggested on Tuesday (21st October), as he fuelled speculation that the loss-making postal operator would be privatised.
The Financial Times’ revelation earlier this week that the business secretary supported in principle the partial privatisation of Royal Mail caused a furore among unions and Labour MPs, who see public ownership of the company as a totemic manifesto commitment.
He refused to set any deadline for publishing a government-commissioned review of the postal services sector by Richard Hooper, the former telecoms regulator.
The Hooper review, which will set the context for government decisions on Royal Mail’s future, was expected to report to ministers earlier this month.
The business secretary admitted that the Hooper review’s initial findings earlier this year “paint a rather stark picture of the huge challenges facing Royal Mail”.
But he appeared sceptical in response to calls from Labour MPs to apply tougher pricing controls to Royal Mail’s rivals.
The two principal problems facing the state-owned operator – a reduction in the overall volumes of letters being sent and a huge pensions deficit – “are not down to regulation”, said Lord Mandelson.

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Logistics and ICT ensure growth in Norway Post

Posted by | Oct 22, 2008 | |

Acquisitions and an increase in volume in the Logistics and ICT segments led to the operating revenues for the first three quarters of 2008 increasing by 7 percent compared to the same period in 2007. The total operating revenues came to NOK 20.8 billion.

The combined operating revenues increased by NOK 1.4 billion, of which acquired companies contributed MNOK 721 (53 percent) while the Group’s organic growth contributed MNOK 679 (47 percent).

The Group’s earnings before non-recurring items and impairment losses (EBITE) as at 30 September 2008 came to MNOK 345, a reduction from the MNOK 414 on the same date in 2007. This reduction is mainly due to lower volumes of mail advertising and banking transactions, a change in the mix of letter products, increased personnel and transport costs and the investment in the new brand. The EBIT from logistics and ICT operations increased.

”The Group’s ICT and Logistics segments have grown and their earnings have increased, while the Post segment is affected by a decline in volume and increased personnel and transport costs which cannot be compensated for by corresponding increases in the revenues,” says Group CEO Dag Mejdell.

1 USD = 7.17428 NOK

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Lord Mandelson to face MPs' questions over economy and Royal Mail privatisation

Posted by | Oct 21, 2008 | |

The Business Secretary is expected to be asked about a newspaper interview in which he signalled support for the partial privatisation of Royal Mail, which drew condemnation from Labour colleagues and unions.
John McDonnell MP said: “This proposed privatisation of the Post Office by the newly anointed Business Secretary is madness. It would undermine an essential public service.
“In the current economic climate, throwing the Post Office to the wolves of the private sector will lead to further job losses and cuts in services on an unprecedented scale.”
Billy Hayes, general secretary of the Communication Workers Union, said: “Peter Mandelson has only just come back into Government, but he should be aware that there is a clear commitment from the Labour Government to keep Royal Mail in the public sector, restated earlier this year at the national policy forum in Warwick.
“At a time of economic instability the last thing the British public wants to hear is that privatisation is the solution to Royal Mail’s problems.”
Lord Mandelson is also under fire following the decision by his deparment to re-examine the costs and benefits of new regulations that would extend flexible working.
Although business groups welcomed the move unions, opposition politicians and family campaigners attacked the announcement.

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