WASHINGTON— The oil and railroad industries are urging federal regulators to allow them as long as seven years to retrofit existing tank cars that transport highly volatile crude oil, a top oil industry official said Tuesday.» Read More
FRANKFURT/ NEW YORK- Officials from Pimco and its German parent Allianz scramble to contain the fallout from star bond manager Bill Gross' stunning exit last week, and money continues to leave the firm, giving a huge boost to rival bond houses like DoubleLine, which saw record inflows. Canada's Encana to buy Athlon Energy for $5.93 bln.
Uber said it would start its UberTaxi service-- which uses regular taxi drivers to pick up rides in their down time-- in Berlin and Hamburg before rolling it out in other cities.
HARTFORD, Conn.— An engineer who was injured in the May 2013 derailment of a commuter train in Bridgeport, Connecticut, has sued Metro-North Railroad. Steven Bauer of Orange says in his lawsuit filed last week in U.S. District Court that he suffered serious and permanent injuries.
Officials tell The Buffalo News that 78- year-old Anthony Mercurio and 14- year-old James Metz were killed in the Saturday morning collision about six miles outside of Buffalo-Lancanster Regional Airport. The newspaper says the SeaRey, piloted by 59- year-old Kevin D'Angelo, of Orchard Park, landed safely in a field in Alden.
Dick Durbin of Illinois told The Associated Press that he will ask inspectors general at the U.S. Department of Transportation and the Federal Aviation Administration to investigate whether there was a security breach when the employee entered the building early Friday with a suitcase without causing suspicion.
OAKLAND, Calif.— Officials say a group of pro-Palestinian protesters are again blocking an Israeli-owned commercial ship from unloading its cargo at a port in California.
CHICAGO— Airlines were scrambling to accommodate travelers whose flights were canceled after a contract employee allegedly set a fire at a suburban Chicago air traffic control center where he worked, halting flights at two of the nation's busiest airports. By Friday night, more than 2,000 flights in and out of Chicago had been canceled.
Transportation officials said Thursday that inspectors last week discovered that several of the galvanized steel rods that anchor the 525- foot tower to its base had been sitting in water that could cause corrosion, according to the San Francisco Chronicle.
Ridesharing services Uber, Lyft and Sidecar are facing legal threats from Los Angeles and San Francisco. CNBC's Kate Rogers explains how the services may be violating California business law.
A major Japanese shipping company agreed Friday to pay the United States a $67.7 million criminal fine for conspiring to fix prices for international ocean shipments of cars, trucks and other wheeled vehicles at the Port of Baltimore and other locations, the Justice Department said.
NBC's Kevin Tibbles reports the latest on a Chicago fire that knocked out an air traffic control facility causing travel headaches in the Midwest.
WASHINGTON— WASHINGTON— In a story Sept. 25 about the Federal Aviation Administration granting permits for drones to be used in moviemaking, The Associated Press reported erroneously that ConocoPhillips was the only company previously granted a permit for commercial drone fights.
LONDON, Sept 26- Higher oil prices have had a traumatic effect on U.S. airlines, forcing carriers to re-examine every aspect of the way they do business in a bid to control costs.
Prices at the pump head below $3 in much of US. The average in Springfield, Missouri, is already below $3, according to Tom Kloza, chief oil analyst at the Oil Price Information Service and GasBuddy.com. The gap is 20 cents or more in seven states, including California, Kansas, South Dakota and Connecticut, according to AAA.
CHICAGO, Sept 25- With a record U.S. harvest just coming in, the river transportation system that is at the heart of the nation's farm economy is overstrained by rising demand for shipping capacity, a low barge inventory, and a dilapidated lock system.
The six companies are Astraeus Aerial, Aerial MOB LLC, HeliVideo Productions LLC, Pictorvision Inc, RC Pro Productions Consulting LLC dba Vortex Aerial, and Snaproll Media, LLC. The FAA said it has asked for additional information from Flying-Cam Inc, a seventh aerial video company that filed for exemptions with this group in June.
CNBC's Dominic Chu explains why railroad stocks have been steady all year and discusses if even bigger gains are ahead.
BILLINGS, Montana— The oil industry's lead trade group released new standards on Thursday for testing and classifying crude shipped by rail after prior shipments were misclassified, including a train that derailed in Canada and killed 47 people.
Up until today, transportation stocks had been showing signs of strength. CNBC's Dominic Chu reports the road and rail group is still one of the best performing in the S&P this month, and provides insight to trucking and transport company Ryder System.
HONOLULU— A former Alaska bush pilot safely avoided beachgoers when he crash-landed his small airplane in the ocean just off a beach on Oahu's North Shore after running out of fuel. Greg Harding, 59, considered landing the plane on either a road or the beach, but then he saw about a dozen people on shore, the Honolulu Star-Advertiser reported.