Irregular dimension and freight specialist Nightfreight has launched QuorumValue, a new service which operates on the basis of the bigger the volumes inputted, the better the value for the customer.
Read MoreThe European Commission has begun its initial investigation into the acquisition of Exel PLC by Deutsche Post. All mergers and acquistitions and joint ventures that meet certain sales thresholds in the EU are subject to approval by the commission. The initial probe lasts one month. The commission will decide on the outcome of its initial probe into this deal on Nov 24. At the end of its initial probe, the commission can decide to clear the deal, conditionally clear it, or open an in-depth probe lasting up to four months if there are serious competition concerns.
Read MorePlans by the Royal Mail to offer its workers a stake in the company are being opposed by almost half of Labour MPs, including allies of Gordon Brown, the chancellor, raising the prospect of a parliamentary clash over the issue in the new year.
Some 160 Labour MPs have signed a Commons motion urging the government to hold on to all shares in the Royal Mail and stick by a general election manifesto commitment to keep it in public hands.
On Tuesday, Allan Leighton, Royal Mail chairman, said he was optimistic of securing government approval for his plan to give a fifth of the company’s shares to its staff.
He told the trade and industry select committee that it would be “very straightforward” to set up a share ownership scheme for employees of the postal services operator.
Read MoreRoyal Mail is not in a state fit for a full-scale privatisation, its chairman told MPs yesterday as he confirmed plans for employees to be given a 20 per cent stake in the business.
Allan Leighton said that the postal group’s Pounds 4 billion pension deficit and its need for a Pounds 2 billion investment made it unsuitable for a sale.
In a submission to the Trade and Industry Select Committee, Royal Mail said that its pensions deficit made it technically insolvent. However, Mr Leighton said that new plans for Royal Mail’s structure would make it a model that other large public organisations would follow.
His comments come as Sir George Bain is close to completing a report into Royal Mail that is expected to pave the way for a stake in the business to be given to Royal Mail’s 180,000 employees. He said: “This is a commercial entity. Everyone thinks it is a public service, but it is not.”
Read MoreRoyal Mail revealed yesterday that the overall volume of mail is declining for the first time in 25 years, and claimed it was evidence of economic downturn in Britain. Chairman Allan Leighton said yesterday that the organisation was “a barometer of the economy”, adding that Royal Mail was “very much dependent on GDP”. Overall mail volumes handled by the provider are down 1pc in the current year, with nearly all the loss in the profitable business mailings sector.
A spokesman said there had been a particularly noticeable downturn in letters inviting people to apply for credit cards. Mr Leighton disclosed that the fall for the first time at a Trade & Industry Select Committee where he also warned that the Royal Mail’s ”one price goes anywhere” service would be under threat unless it was allowed to charge 39p for a first class stamp by 2009-10.
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