UPS and TNT Express have submitted remedies to the European Commission to address its competition concerns, extending the review period further. The submission extends the EC’s review period by 15 business days to 5 February 2013. The proposed remedies involve the sale of the business activities and its assets. UPS needs to ensure the long-term viability of these activities and the continuity of service already provided by TNT Express. In order to receive approval, the EC will market-test the remedies. […]
TNT Express said it does not expect to see the full benefit of its profit improvement strategy until 2018-19, as it admits it did not acheive the turnover and profitability it expected in 2014.
Hermes chief executive Carole Woodhead has revealed some of its expansion plans for 2014, as it wins a new contract with jewellery retailer Cadenzza.