Norway Post said today that cost-cutting and improvements to its business have helped operating profits surge 29% in the first half of the year.

Further changes are on the way, particularly in logistics and the retail division, where nearly 1,000 jobs could go, the company said today.

Releasing its latest financial results for the first two quarters of 2012, Norway Post said it managed to stabilise revenues at a similar level to the first half in 2011, bringing in NOK 11.3bn ($1.9bn USD) during the six months to the end of June.

Operating profit before one-off costs and amortization (EBIT) was NOK 381m ($65.3m) for the half.

Read more: Cost reductions bring 29% profit boost at Norway Post | Post & Parcel.

The European Commission confirmed today that its review of the proposed acquisition of UPS by TNT Express has now resumed.

The European Union’s executive branch suspended its “Phase II” investigation of the proposed EUR 5.16bn offer from US integrator UPS for its Amsterdam-listed rival on 7th August.

Today the Commission said the suspension lasted a week, with investigations resuming on 14th August.

A new provisional deadline for the investigation to be completed has now been set as 20th December, 2012.

Read more: EU restarts clock on UPS-TNT Express merger investigation | Post & Parcel.

Washington, DC – The Postal Regulatory Commission (PRC) today authorized a three-year negotiated service agreement (NSA) between the U.S. Postal Service and Valassis Direct Mail, Inc. (Valassis) that provides discounts for new saturation mail advertising circular volumes. The NSA was approved by a majority of the Commission.

Under the terms of the agreement, discounted prices would be limited to advertisements for durable and semi-durable goods by retailers with physical retail outlets in 30 or more states, in distinct markets where Valassis has and continues to maintain an existing Standard Mail Saturation mailing program. Read the rest of this entry »

Washington, DC – The Postal Regulatory Commission (Commission) today issued an Advisory Opinion on the Postal Service’s Post Office Structure Plan (POStPlan), an initiative to match post office retail hours with workload, Docket N2012-2.

The Postal Service is required to seek an Advisory Opinion if its actions constitute a nationwide change in service levels. The POSTPlan reflects a determination by the Postal Service to explore options to adjust its retail window hours without closing post offices. Retail window hours of operation at more than 13,000 post offices nationwide will be reduced to 6, 4, or 2 hours per weekday, and in approximately 73 locations, hours of operation will increase. Read the rest of this entry »

New Delhi: The government today said around Rs752 crore is lying as unclaimed deposits in more than 2.49 crore inactive savings accounts in post offices, reports PTI.

“Rs752,44,57,414.03 is the amount lying in all inactive (silent) accounts as on 31 March 2011 in 2,49,59,446 accounts,” telecom minister Kapil Sibal said in a written reply to Lok Sabha.

Read more: “Over Rs750 crore lying in inactive post office saving accounts” – Moneylife.

United Parcel Service Inc. UPS said it will extend the offer period for TNT Express NV TNTE by more than two months as the delivery companies await antitrust decisions on the 5.16 billion-euro $6.4 billion takeover plan.TNT shareholders may tender stock until Nov. 9 instead of Aug. 31 because regulatory clearance won’t be received by the original deadline, Atlanta-based UPS said today in a statement. The companies “remain committed” to the plan “and are working to fulfill all offer conditions.”

Read more: UPS Extends TNT Offer to November on Antitrust Procedures – Businessweek.

Delegates to the APWU’s 21st Biennial Convention voted unanimously on Wednesday to endorse President Barack Obama for a second term.

President Obama addresses delegates

In these difficult times for postal workers and for all working people, delegates expressed their clear belief that President Obama stands on the side of workers, while his opponent this November threatens the very existence of the labor movement.

In his State of the Union address earlier in the week, President Guffey told the assembled delegates that “If there’s a Republican House, a Republican Senate and a Republican president [in January], it won’t be a matter of years — it will be a matter of days before we lose our right to collective bargaining.”

Delegates listened to a recorded message from President Obama shortly before the vote.

“We want to build an economy that lasts,” the President said, “and that’s why we’re pushing back against the assault on unions, because the values you stand for — hard work, responsibility, looking out for one another — aren’t just union values.  They’re American values.

“That’s why we’re fighting to make sure that the United States Postal Service keeps delivering for the American people.”

The delegates made clear their approval of this message.