The Post Office is preparing to offer customers mortgages in direct competition to banks and building societies.
David Mills, appointed in February to turn round the organisation’s fortunes, believes this is the key.
Under the scheme, the Post Office, which is losing (pounds) 163m a year, would offer a full range of financial services, including mortgages, through its 17,500 outlets.
Read MorePanalpina, a provider of airfreight services, is engaged in negotiations to acquire a 12.1 per cent stake in Luxembourg airline, Luxair.
The Swiss company, based in Basel, said in a statement that negotiations between Luxair’s major shareholders and Panalpina have reached an advanced stage.
Read MoreToll Holdings shares are expected to rally today following the company’s acquisition of a stake in the Mayne logistics group.
Toll’s share price could bounce as much as 5 per cent as retail and institutional investors give the thumbs-up to the purchase of the Mayne Express freight company for $20 million.
Jason Smith, transport analyst with Solomon Smith Barney, told The Australian: “The stock is expected to open strongly as the company’s increased earnings are reflected in analysts’ upgrades.”
Read MoreThe Direct Marketing Association (The DMA) today applauded the announcement from the United States Postal Service (USPS) that it may be able to delay future postage rate increases until at least calendar year 2006. This action, however, depends on a change to the current legislative formula that controls how the USPS funds its employees’ retirement. The change to the law is required to ensure that the American mailing public does not overpay for postage.
Read MoreDeutsche Post Global Mail, the reliable international mail services provider, today announced results of a random survey of businesses that send mail internationally conducted at the annual DMA Conference. Survey respondents identified Europe and Latin America as the regions they are most interested in reaching with business mail. The 85th annual event, hosted by the Direct Marketing Association, was held in San Francisco from October 19-22.
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