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  • SINGAPORE, March 4- As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry. The New York- based private equity firm had generated "great but not spectacular" gains in its investments in clean tankers, vessels that carry...

  • Is Uber crushing NYC's taxi industry? Tuesday, 3 Mar 2015 | 2:53 PM ET

    Taxi medallion prices are falling in New York as Uber rises, but the head of the Taxi and Limousine Commission says she's not worried.

  • HARTFORD, Conn.— Electric-car maker Tesla Motors on Tuesday offered to make some compromises to help state lawmakers pass legislation this year allowing direct sales to Connecticut consumers. To further limit the impact of the legislation, Tesla said it would agree to language restricting direct sales to manufacturers with an established presence in...

  • Uber, Lyft make moves to benefit drivers Tuesday, 3 Mar 2015 | 2:25 PM ET
    Lyft and Uber ridesharing car apps

    Transportation start-ups Uber and Lyft this week have introduced initiatives aiming to keep drivers happy and connected.

  • AUGUSTA, Maine— Maine needs to consider borrowing money and reallocating resources to find an additional $70 million annually to ensure the safety of the state's bridges and prevent significant long-term costs, transportation officials told lawmakers Tuesday. The Maine Department of Transportation currently dedicates about $70 million annually for...

  • Mongolia, which has Russia and China as its neighbours, has large quantities of natural resources including copper, gold, silver and uranium deposits. Merkel outlined the difficulties involved in getting start-up financing for infrastructure and mining projects, and the need for infrastructure expansion in Mongolia. "Thirdly, Mongolia has big neighbours...

  • Dubai's Emirates says adds $7.6 bln to EU GDP Tuesday, 3 Mar 2015 | 10:34 AM ET

    DUBAI, March 3- Dubai's flagship airline Emirates contributes 6.8 billion euros to the European Union economy, it said on Tuesday, in an apparent response to criticism from rivals that government subsidies give Gulf carriers an unfair advantage. Emirates first flew to Europe in 1987 and since then has grown to 350 passenger flights a week from Europe, its...

  • WASHINGTON— Israeli leader: World must unite to' stop Iran's march of conquest, subjugation and terror'.

  • Now THIS carmaker is planning a driverless car Tuesday, 3 Mar 2015 | 8:29 AM ET

    When it comes autonomous cars, Google has dominated the headlines - but it's not the only company making waves in this space.

  • SCOTTSBLUFF, Neb.— The Scottsbluff airport has joined airports in Kearney and North Platte in recommending new, one-year agreements with Great Lakes Airlines for government-subsidized flights. All three airports had initially selected Beachwood, Ohio- based Aerodynamics Inc., but in January the Transportation Department said Aerodynamics did not...

  • Daimler's best markets are UK, Germany  Tuesday, 3 Mar 2015 | 7:15 AM ET

    Dieter Zetsche, chair of Daimler, talks about the firm's new vehicles and how Daimler's sales are improving in certain markets.

  • Daimler: We welcome an Apple Car  Tuesday, 3 Mar 2015 | 7:15 AM ET

    Dieter Zetsche, chair of Daimler, says that he is unsure why Apple would want to enter the car industry, but that he would welcome them as either a partner or competition. Zetsche adds that Daimler would "exploit" any new technology opportunity.

  • Daylight saving time bill springs forward Tuesday, 3 Mar 2015 | 7:01 AM ET

    JUNEAU, Alaska— A Senate committee advanced legislation Tuesday that would eliminate daylight saving time in Alaska and allow for consideration of another time zone in the state. It would also direct the governor to ask the U.S. Department of Transportation to consider moving part or all of Alaska to Pacific time. Anna MacKinnon, R- Eagle River, originally...

  • DUBAI, United Arab Emirates— The United Arab Emirates' budget carrier flydubai, in its fifth year of operation, has turned a profit of $68 million out of total revenue of $1.2 billion last year. The company's earnings report released Wednesday shows flydubai's profits were around 12 percent higher than in 2013. The fast-growing airliner added 23 new routes last...

  • Audi CEO: We're strong in China, Europe  Tuesday, 3 Mar 2015 | 5:10 AM ET

    Rupert Stadler, CEO of Audi, says the business is going strong in China and Europe, and there's potential within the U.S. market.

  • Audi was 'heavily affected' by Russia  Tuesday, 3 Mar 2015 | 5:10 AM ET

    Rupert Stadler, CEO of Audi, says the devaluation of the Russian ruble had the biggest impact on Audi in Russia.

  • How does Infiniti stay successful?  Tuesday, 3 Mar 2015 | 4:30 AM ET

    Roland Krueger, president of Infiniti, says that the success of the brand is down to its strong partnership with its dealers.

  • RUTHERFORD, N.J.— If New Jersey continues its decades-old pattern of borrowing money to fund transportation infrastructure projects, it will jeopardize its ability to do the same in the future, a legislator told a group of business leaders Tuesday. Assembly Transportation Committee chairman John Wisniewski said the state must identify a dedicated source of...

  • Tests conducted last month by the Federal Aviation Administration show that rechargeable batteries, also called lithium-ion batteries, consistently emit explosive gases when they overheat or short-circuit, The Associated Press has learned. In the recent tests, as well as other FAA tests last year, the buildup of gases— primarily hydrogen— led to fierce...

  • COLUMBUS, Ohio— Prospective Ohio drivers would see added training requirements and the Bureau of Motor Vehicles would be allowed to accept credit and debit cards under a state transportation budget that easily cleared the Ohio House on Tuesday. The $7 billion, two-year spending blueprint lays out priorities for Ohio highway, road, bridge and public safety...

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