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Transportation Road and Rail

  • MATOAKA, W.Va.— The red caboose parked at the edge of a rundown commercial block is the only rail car some people have seen in Matoaka in more than a year. The major railroads here, Norfolk Southern and CSX, each formed from decades of mergers, have continued to post profits while shedding personnel, idling equipment and cutting overhead. "The fact of the matter still...

  • The Associated Press sent two journalists on a two-day visit to Orlando, Florida— one with perks, and one without. Scott Mayerowitz, who until recently covered the airline industry, has elite status with airlines, hotels and car rental agencies. Candice Choi, who covers the food industry, has no such perks.

  • The Associated Press sent two journalists on a two-day visit to Orlando, Florida— one with perks, and one without. Scott Mayerowitz, who until recently covered the airline industry, has elite status with airlines, hotels and car rental agencies. Candice Choi, who covers the food industry, has no such perks.

  • LONDON, May 25- U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.. Freight movements hit a new record in February, before slipping slightly in March, according to the U.S. Bureau of Transportation Statistics. The ratio of business inventories to sales climbed from 1.28 in January...

  • Gov. Cuomo: Penn Station is 'literally crumbling'

    We are paying the price for ignoring infrastructure funding, says Gov. Andrew Cuomo, (D-N.Y.), talking about the need to address massive structural problems at Penn Station and Amtrak.

  • TORONTO, May 18- The Canada Pension Plan Investment Board, one of the world's biggest infrastructure investors, is regularly losing out in bidding wars for such assets, its chief executive said, as investors seek alternatives to low-yielding government bonds. The CPPIB is one of the world's biggest investors in infrastructure such as roads, bridges and tunnels,...

  • SAN FRANCISCO, May 18- Venture capitalists have poured $18 million into a startup that is helping to digitize the long-haul trucking industry, the latest sign that Silicon Valley is eager to take a piece of a $700 billion- a-year sector that has long relied on pencil and paper. San Francisco- based startup KeepTruckin said on Thursday it raised $18 million in a...

  • SAN FRANCISCO, May 11- Uber Technologies Inc hired the team behind a Chicago transportation brokerage last fall as part of an effort to break into the long-haul trucking industry. Uber Chief Executive Travis Kalanick posted a photo on Twitter on Sunday of a large white truck emblazoned with the words Uber Freight. Since launching its push into trucking about a...

  • Chairman Liu Hualong told CNBC that CRRC doubled the number of contracts and have 10 times more assets abroad today.

  • Since then, billionaire investor Carl Icahn, Hertz's biggest shareholder, has increased his stake in the company, and the company's former CEO, John Tague, has been replaced by Marinello. The company's net loss from continuing operations widened to $223 million, or $2.69 per share, in the first quarter ended March 31, from $52 million, or 61 cents per share, a year...

  • The company's net loss from continuing operations widened to $223 million, or $2.69 per share, in the first quarter ended March 31, from $52 million, or 61 cents per share, a year earlier. Hertz booked an impairment charge of $30 million in the quarter. Revenue fell to $1.92 billion from $1.98 billion.

  • Warren Buffett

    Warren Buffett is looking for investment opportunities in renewable energy.

  • We need stability and ifnancining to develop in US cities

    Alstom CEO Henri Poupart-Lafarge discusses earnings and a potential spending boost for infrastructure in the U.S.

  • SAN FRANCISCO, May 3- A U.S. judge on Wednesday said he had not seen clear evidence that Uber Technologies Inc had conspired with an engineer on its self driving car program to steal trade secrets from Alphabet Inc's Waymo, and that he was wrestling with whether to issue an injunction against the ride service. At a hearing in San Francisco federal court, U.S.

  • SAN FRANCISCO, May 3- An Uber Technologies Inc engineer at the center of a Silicon Valley self-driving technology theft lawsuit received more than $250 million worth of Uber stock which began vesting the day after he left Alphabet Inc's Waymo, lawyers for Waymo said in court on Wednesday. The ride-services company is contesting Waymo's accusation that former...

  • Dirk Ahlborn, CEO of Hyperloop Transportation Technologies, says current transportation relies too much on government subsidies.

  • "The stabilization that we're seeing in the market is much more driven by the price of natural gas as a competitive fuel," Chief Executive Lance Fritz told Reuters after the Omaha, Nebraska- based railroad reported a better-than-expected first-quarter profit that was boosted by a 25 percent increase in coal revenue. He said he was also optimistic that the North...

  • DETROIT, April 27- Union Pacific Corp on Thursday reported better-than-expected quarterly profit, lifted in particular by a 25 percent jump in coal freight volume, and said it expects its freight business to grow in the low single digits in 2017.. Union Pacific said it expects to improve its operating ratio, a key metric for Wall Street that measures expenses as a...

  • The Omaha, Nebraska- based company said on Thursday freight revenue from coal surged 25 percent in the first quarter ended March 31. Union Pacific's net income rose to $1.07 billion, or $1.32 per share, in the first quarter, from $979 million, or $1.16 per share, a year earlier. Analysts on average had expected first-quarter profit of $1.23 per share, and revenue of...

  • April 27- Union Pacific Corp, No. 1 U.S. railroad, reported a 9.5 percent rise in quarterly profit, led by higher freight revenue from coal. The company's net income rose to $1.07 billion, or $1.32 per share, in the first quarter ended March 31, from $979 million, or $1.16 per share, a year earlier. Total operating revenue rose 6.3 percent to $5.13 billion.