Company briefs: DHL
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DHL
Logistics giant DHL will charge private customers more for parcel deliveries from July 1 as labour and transport costs have made price increases unavoidable, said the company yesterday.
DHL, part of the Deutsche Post DHL Group, will raise the price to ship a parcel abroad by between €1 (S$1.45) and €3.50, excluding those bound for the United States which, depending on the parcel size, will nearly double in price. It added that even with the price increases, it would still remain below average parcel prices in Europe, based on a comparison published by the network regulator last November.
REUTERS
Credit Suisse
The UK's financial regulator has added Credit Suisse Group to a watch-list over concerns that it has not sufficiently addressed risky culture. The Financial Conduct Authority told Credit Suisse last month that it was adding the bank's United Kingdom operations and international unit to a list of firms warranting close monitoring after a series of scandals, said a source. The regulator cited concern over risk controls, governance and culture.
Officials have asked the firm's top management to offer evidence of the steps it would take to improve, going forward, the source added.
BLOOMBERG
LG Energy Solution
LG Energy Solution (LGES) said yesterday it will invest 730 billion won (S$788 million) to expand its production capacity at its Ochang production site in South Korea. The battery maker, which counts Tesla, General Motors and Volkswagen among others as customers, said it planned to invest 580 billion won to add 9 giga-watt hours' worth of production capacity of 4,680 cylindrical batteries at its No. 2 Ochang factory.
LGES will also invest 150 billion won in the No. 1 Ochang factory to add 4 GWh worth of production capacity of 2,170 cylindrical battery cells.
REUTERS
