Tag: Germany

ALL HANGAR, NO BLIMP

Posted by | Apr 29, 2002 | |

A once-buoyant German venture has a huge shed, but little else to show for $263 million. In Texas real ranchers disparage an upstart by saying he is “all hat, no cattle.” That western saw aptly describes the current predicament of CargoLifter, a would-be manufacturer of heavy-lift dirigibles that so far has only lifted $263 million from investors. Though the German company has been designing a prototype for four years, a finished vehicle does not exist. What does? A gigantic shed outside Berlin.

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EU Reportedly Ready To Fine German Post Office

Posted by | Apr 29, 2002 | |

Germany’s publicly controlled postal system, Deutsche Post, is facing by next month or June at the latest a new multimillion-euro fine by the European Union over its continuing subsidies to its money-losing package delivery service.
Mario Monti of the EU said Deutsche Post was continuing to violate EU competition policy by using revenues from its monopoly on most first-class letters to keep the package service afloat and undercut private-sector competitors.

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Deutsche Post Q1 Financials Expected Tuesday

Posted by | Apr 29, 2002 | |

German postal giant Deutsche Post AG is expected to post an eight percent fall in first quarter core profit on Tuesday, figures which may shed more light on the scale of margin erosion at its mail division. The postal, logistics, express and banking group disappointed investors three weeks ago when it predicted its cash cow would see margins of ‘at least’ 14 percent in 2002, lower than analysts were expecting.

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Deutsche Post to Invest EU1.5 Billion in China

Posted by | Apr 27, 2002 | |

Deutsche Post AG, Europe’s largest postal service, plans to invest more than 1.5 billion euros ($1.4 billion) in China within the next three years to become the country’s No. 1 logistics company, Der Spiegel said.
Deutsche Post’s DHL Worldwide Express Inc. unit holds 35 percent of the Chinese market, more than U.S. rivals United Parcel Service Inc. and FedEx Corp

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Start of pay talks at Deutsche Post

Posted by | Apr 25, 2002 | |

Deutsche Post AG, the German postal service operator, begins pay talks with its 240,000-strong staff today. The services sector union Ver.di is demanding a 6.5 per cent pay rise for a 12-month period.

The union DPV, which represents communication workers with the status of official (Beamte), proposes a pay rise representing half of the increase rate for cash flow, but does not demand a rise of more than 10 per cent.

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