HONG KONG, Sept 19- Shares in China's largest auto rental company CAR Inc surged as much as 28 percent in their Hong Kong trading debut on Friday as investors scrambled for exposure to a market expected to almost double to $11 billion by 2018..» Read More
The delays have been perpetuated also by a surge in rail deliveries of crude oil and grain, leaving power producers such as FirstEnergy Corp scrambling for transport alternatives before winter sets in, potentially adding to costs.
ULAN BATOR, Aug 22- China and Mongolia have signed 26 new deals on railroads, mining and power generation during Chinese President Xi Jinping's state visit that began on Thursday, Mongolia's Ministry of Foreign Affairs said. Closer economic relations with China may be landlocked Mongolia's answer to recent economic woes.
Hertz, Avis Budget Group Inc and market leader Enterprise Rent-A-Car control about 90 percent of the U.S. car rental market. And more so Hertz, than Avis, since cars are made by General Motors Co account for a bigger portion of its fleet.
Hertz expects 2014 results to be "well below" its previous guidance due to business challenges and costs related to a review of the past three years' results, it said in a regulatory filing on Tuesday.
Aug 19- Canada's Transportation Safety Board on Tuesday released its final report on last year's Lac-Mégantic crude train disaster, including a list of 18 "causes and contributing factors" to the catastrophic derailment that killed 47 people.
LAC-MÉGANTIC, Quebec, Aug 19- The Canadian government did not adequately audit the railroad company at the center of the Lac-Mégantic crude tanker disaster, which last year killed 47 people, an independent federal agency said on Tuesday, as it called for tougher scrutiny of the rail industry.
LAC-MÉGANTIC, Quebec, Aug 19- The Canadian government did not adequately audit the rail firm at the center of the Lac-Mégantic crude tanker disaster that last year killed 47 people, an independent federal agency said on Tuesday, as it called for tougher scrutiny of the rail industry.
LONDON/ HELSINKI/ COPENHAGEN, Aug 19- Team Niinivirta, a Finnish family-run transportation firm, turned 60 this year, but its third-generation managers now don't know if the business will see Christmas, because of Russia's new ban on European food imports.
NEW YORK, Aug 18- Washington's decision to allow exports of an ultra light crude offers a potential boon to U.S. producers that will bypass drillers in the Permian basin, because the country's fastest growing shale play lacks pipelines or affordable trucking.
TORONTO, Aug 15- More than eight months after an extreme winter began snarling North American rail traffic, a Reuters analysis of industry data shows delays lingering, raising the risk of a second winter of chaos on the rails.
LONDON, Aug 13- Gas-fuelled locomotives are not a new idea. Plymouth Locomotive Company built the first propane-fuelled rail engine as early as 1936..
LONDON, Aug 12- From modest beginnings in the Barnett shale beneath the city of Fort Worth, unnoticed by most energy analysts, horizontal drilling and hydraulic fracturing spread across North America and transformed all aspects of the energy landscape in under 10 years.
LONDON, Aug 7- Bakken crude is no more dangerous than other light sweet crudes and poses no greater risk when transported by rail, according to a report prepared for the North Dakota Petroleum Council, which represents oil producers and shippers in the state.
Aug 6- Coal miner Alpha Natural Resources Inc reported a slightly bigger adjusted net loss for the second quarter as coal prices remained weak. Alpha Natural is also being hurt by poor rail service in Wyoming's Powder River Basin, which is preventing the company from cashing in on an uptick in demand for electricity-generating coal.
July 31- Car rental company Avis Budget Group raised its full-year revenue and profit forecast as demand rose in North America and the company raised prices. The company raised its full-year profit forecast to $2.75- $3.05 per share from $2.50- $2.95 earlier and revenue expectation to $8.6- $8.7 billion from $8.4- $8.6 billion earlier.
July 24- Union Pacific Corp, the largest publicly traded U.S. railroad, reported a 17 percent rise in quarterly profit, mainly due to higher shipments of agricultural products and coal. Coal is Union Pacific's largest cargo in terms of volumes. Union Pacific has benefited from a rise in grain shipments meant for export to Mexico and China.
July 24- Union Pacific Corp, the largest publicly traded U.S. railroad, reported a 17 percent rise in quarterly profit, partly due to a rise in shipments at its agricultural products business. Net income rose to $1.29 billion, or $1.43 per share, in the quarter from $1.11 billion, or $1.18 per share, a year earlier. Total revenue rose 10 percent to $6.02 billion.
WASHINGTON, July 23- The U.S. ethanol industry pushed back on Wednesday against what they called a "one size fits all" approach to proposed federal rules for shipping fuel by rail, saying regulators must distinguish between the often corn-based biofuel and crude oil.
NEW YORK, July 23- The U.S. Department of Transportation on Wednesday proposed new safety rules for hauling crude oil by rail after a string of explosive accidents, in a move that could impact railroads, drillers, refiners and railcar makers amid an energy boom.
*2nd- qtr net profit $1.79/ shr vs est $1.74. July 23- U.S. railroad operator Norfolk Southern Corp reported a better-than-expected second-quarter profit, helped by higher volumes across its businesses as the economy improves.