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☆ Royal Mail owner agrees to ₤3.6 billion takeover by Czech billionaire Kretinsky
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

Royal Mail's parent company International Distributions Services said on Wednesday it had agreed to a 3.57 billion pound ($4.55 billion) formal takeover offer by Czech billionaire Daniel Kretinsky. The offer valued IDS, which owns Royal Mail and international parcels network GLS, at 370 pence per share. Royal Mail has been trying to transform itself into a parcel-led business as letter volumes declined sharply over the years. Kretinsky has said that private investment in Royal Mail was crucial given its challenging situation with poor service delivery, slow transformation and increasing competition. Any takeover bid for Royal Mail would be subject to "normal" national security scrutiny but it would not be opposed in principle, Finance Minister Jeremy Hunt said earlier.

Persons: Daniel Kretinsky, Keith Williams, Kretinsky, Jeremy Hunt, Jonathan Reynolds Organizations: International, Services, Royal Mail, Service, Government, IDS, Labour, VESA Equity Locations: Czech, London

☆ Royal Mail owner IDS set to agree $4.4 bln Kretinsky takeover bid
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

IDS owns UK's Royal Mail, which is loss making, and international parcels network GLS. Royal Mail was privatised in 2013 in one of Britain's biggest state sell-offs in decades. It is expected the commitment to offer these contractual undertakings to the British government would be reflected in the cooperation agreement between the parties if a firm offer is made, it added. EP Group now has until May 29 to make a formal offer or walk away. EP is a 100% shareholder in VESA Equity investment which owns Kretinsky's IDS stake of nearly 28%.

Persons: Daniel Kretinsky, Keith Williams Organizations: International, Services, IDS, Royal Mail, UK's, Royal, National Security and Investment, Reuters, Equity Locations: Czech, London, Britain, British

☆ Mercedes applies for tax relief for projects at two U.S. plants
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsCompanies Mercedes Benz Group AG FollowBERLIN, Sept 25 (Reuters) - German carmaker Mercedes-Benz (MBGn.DE) has applied for tax breaks for potential projects at two of its U.S. plants under the Inflation Reduction Act (IRA), a company spokesperson said on Monday. "We have decided to participate in the application process for production-related tax relief" under the IRA for the plants in Alabama and South Carolina, according to the spokesperson. A final decision is expected later this year or early next year, Handelsblatt reported. Mercedes did not want to comment on the production plan for the electric GLS. Reporting by Ilona Wissenbach, Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, Mercedes, Handelsblatt, Ilona Wissenbach, Miranda Murray, Friederike Heine Our Organizations: Benz, REUTERS, Companies Mercedes Benz Group, Thomson Locations: Woodstock , Alabama, U.S, Alabama, South Carolina, United States

☆ Biomaterials startup Traceless wants to help tackle plastic pollution. It just raised $39 million in debt and equity with this 15-slide pitch deck.
▼ + stars: | 2023-09-25 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A German startup hoping to help put an end to plastic pollution has just raised 36.6 million euro (around $38.9 million) in a mixture of equity and debt. Hamburg-based Traceless, founded in 2020, has developed a plant-based biomaterial using agricultural waste to replace plastics. The startup material uses the existing natural polymers that are in its raw material, which requires up to 80% less energy to process compared to conventional plastics, Lamp said. Traceless produces its material as small pellets to provide to product manufacturers, which then mould it to their needs. The startup hopes to have replaced 1 million tonnes of plastic by 2030.

Persons: Anne Lamp, compostable, Traceless, Joanna Baare, Baare, Hamburger Sparkasse Organizations: UB Forest Industry, Growth, SWEN Capital Partners, GLS Bank, Planet A Ventures, Tech Locations: Hamburg, Antarctica

☆ Royal Mail's owner picks international parcels boss as group CEO
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

July 20 (Reuters) - Royal Mail's parent group International Distributions Services (IDS) (IDSI.L) appointed Martin Seidenberg, CEO of the group's international parcels network, as its new group CEO on Thursday. Seidenberg will be tasked with mending relationships with labour union CWU and driving the group and the loss-making UK business back to profitability. He will be appointing CEOs for the two units - its UK business Royal Mail and GLS - in due course, the company said. Seidenberg said Royal Mail has "plenty of opportunity ahead" given its brand and scale. Simon Thompson, the current CEO of Royal Mail announced his resignation earlier this year after months of labour strife.

Persons: Martin Seidenberg, Seidenberg, Simon Thompson, GLS, Yadarisa, Dhanya Ann Thoppil, Janane Venkatraman, Sonali Paul Organizations: International, Services, GLS, IDS, Royal Mail, Deutsche Post DHL, Royal, Thomson Locations: Bengaluru

☆ UK's IDS targets return to profit after Royal Mail beats expectations
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

The economic climate remains challenging, and Royal Mail faces the task of rebuilding business from the damage caused by industrial action," Chairman Keith Williams said in a statement. International Distributions Services (IDS) is targeting a group adjusted operating profit in this financial year, said the group, which is still looking for a replacement for Royal Mail CEO Simon Thompson. IDS, which includes Royal Mail UK and international operations GLS, reported a group adjusted operating loss of 71 million pounds for the year ended March 26, compared with a profit of 758 million pounds a year earlier. Analysts on average had expected a loss of 114 million pounds, according to a company-compiled consensus. Analysts on average had expected Royal Mail UK's adjusted operating loss to come in at 449 million pounds for the year.

☆ UPS and FedEx are clawing back ground from smaller package-delivery firms. Here's how the little guys plan to defend their share.
▼ + stars: | 2023-04-13 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Amazon, FedEx, UPS, and the postal service hold 97% of the US package delivery market. Smaller delivery companies were major beneficiaries of the pandemic boom times for e-commerce. "There was a long runway for these delivery companies when FedEx and UPS didn't want your business," said Derek Lossing, an Amazon Logistics alum who now advises investors. Smaller carriers are competing less with UPS and FedEx, and more with each other. UPS and FedEx will still be in the picture, but the smaller players can outperform them in some areas.

☆ A startup raised $79 million for its open smart-locker network. Check out the pitch deck it used to raise the funds.
▼ + stars: | 2023-03-08 | by ( Maybrit Martschin | Nathan Rennolds | Business Insider Deutschland | ) www.businessinsider.com time to read: +2 min

Myflexbox is an Austrian startup that offers a smart-locker network. The company uses an open API to connect operating systems from different delivery providers. Insider has an exclusive copy of the pitch deck it used to raise 75 million euros. To help them achieve this, the founders recently secured 75 million euros, or about $79 million, in new funding. Insider has an exclusive copy of the pitch deck it used to raise the funds.

☆ I drove Mercedes-Benz's $135,000 Tesla rival and experienced the electric, screen-filled future of luxury SUVs
▼ + stars: | 2023-02-25 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

I drove the 2023 Mercedes-Benz EQS SUV, the brand's first electric SUV for the US market. What the EQS SUV does right: An amazingly luxurious interiorThe 2023 Mercedes-Benz EQS SUV. The 2023 Mercedes-Benz EQS SUV. The 2023 Mercedes-Benz EQS SUV. The 2023 Mercedes-Benz EQS SUV.

☆ Cars leased in 2020 are worth an average $4,000 more than expected. These models have fared the best
▼ + stars: | 2023-02-24 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Newsday Llc | Newsday | Getty Images3.3 million cars were leased in 2020An estimated 3.3 million leases were originated in 2020, according to Edmunds. "February 2023 trade-in equity is still more than double the pre-pandemic level," said Thomas King, president of the data and analytics division at J.D. Leased models that have the most extra valueAmong cars leased in 2020, the Mercedes-Benz GLS-Class has the highest dollar difference between current trade-in value ($62,257) and its originally estimated residual value ($50,942). The Toyota Sienna has a trade-in value ($30,207) that's $8,741 (or 41%) higher than the $21,465 residual value. If you want to try capitalizing on the positive equity as a trade-in or for cash, start by finding what your vehicle is worth.

Nanoco and Chicago-based litigation funding firm GLS Capital said in a release that the settlement, which includes a license agreement and the "transfer of certain patents," resolves litigation in the United States, Germany and China. Nanoco's quantum dots improve the backlighting of LED displays without the use of toxic heavy metals like cadmium. The Texas lawsuit said Samsung began incorporating Nanoco's technology into high-end QLED TVs launched in 2017. Third-party funding of lawsuits has becoming increasingly common in recent years, though details about specific investments are rarely publicized. The case is Nanoco Technologies Ltd v. Samsung Electronics Co, U.S. District Court for the Eastern District of Texas, No.

☆ Royal Mail parent slides to half-yearly loss as UK business drags
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Royal Mail's parent company International Distributions Services (IDSI.L) on Thursday reported a first-half loss of 57 million pounds ($67.88 million) as higher costs and disruptions arising from strikes by its postal workers put a strain on its finances. The former British postal monopoly, which recently changed the name of its holding company from Royal Mail Plc, still expects full-year adjusted operating loss for Royal Mail - its UK business - of around 350 million to 450 million pounds. It is targeting for Royal Mail to return to adjusted operating profit in full year 2024-25. Royal Mail had said it could cut up to 10,000 jobs and warned of more layoffs and even deeper financial losses if it cannot reach an agreement with the CWU. ($1 = 0.8397 pounds)Reporting by Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Royal Mail could cut 5,000-6,000 jobs by next August
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

Oct 14 (Reuters) - Royal Mail could cut as many as 5,000 to 6,000 jobs by the end of August next year, parent company International Distributions Services (IDSI.L) said on Friday, as the British company remains locked in a bitter dispute with its largest labour union. The Communication and Workers Union (CWU), representing 115,000 Royal Mail postal workers, have held strikes in September and early October, and have threatened more strikes this month and next. Royal Mail would post an adjusted operating loss of around 350 million pounds this year, after taking into account the hit from the strikes that have taken place or are scheduled, International Distributions Services forecast. The company said there could be more job losses at Royal Mail, its UK business, if strikes went ahead during the holiday period. Royal Mail, the former British postal monopoly recently changed the name of its holding company to International Distributions Services from Royal Mail Plc.

Şi chiar dacă până şi Wrangler se pregăteşte de o viitoare versiune electrică, noul Grand Cherokee debutează exclusiv cu tehnologii convenţionale, de şcoală veche. Ba dimpotrivă, spre satisfacţia amatorilor de maşini „cum să făceau odată”, noul Jeep Grand Cherokee se lansează în SUA doar cu motoare V8 şi V6. V6-ele este cel pe nume Pentastar, de 3.6 litri, şi va livra pe Grand Cherokee o putere de 294 CP şi 348 Nm. Jeep Grand Cherokee / Sursa:PiataAuto.mdNoul Grand Cherokee se laudă cu o platformă tehnică absolut nouă, chiar dacă ceea ce am descris mai sus la nivel de componente-cheie nu sunt o noutate. Jeep Grand Cherokee / Sursa:PiataAuto.mdLa exterior Jeep Grand Cherokee a devenit mai mare şi mai lat, dar a păstrat forme foarte rectangulare şi a crescut mult în lungime, cel puţin în versiunea L, lansată iniţial.

Organizations: Cherokee, Jeep, Chrysler - Dodge, X7, Mercedes - Benz Locations: SUA, Noul

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