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Transportation Road and Rail

  • Feb 27- Car rental company Hertz Global Holdings Inc reported a bigger quarterly loss from continuing operations, partly due to an impairment charge. Net loss from continuing operations widened to $438 million, or $5.28 per share, in the fourth quarter ended Dec. 31, from a loss of $37 million, or 43 cents per share, a year earlier. Total revenue fell to $2.01 billion...

  • TORONTO, Feb 24- Passenger and freight train service across southern Ontario started to resume on Friday after being halted due to a power outage at Canadian National Railway's rail traffic control center, officials said. The domino effect could slow national freight routes as outages at a traffic control centre could mean signals turn red throughout the...

  • Using PPP on the road to infrastructure funding: CEO

    You need to think of infrastructure more as an investment than a cost, says Scott Rechler, RXR Realty CEO, talking about why it makes sense to fund infrastructure projects through public-private partnerships.

  • SAN FRANCISCO, Feb 23- Alphabet Inc's Waymo self-driving car unit sued Uber Technologies and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology. "Uber's LiDAR technology is actually Waymo's LiDAR technology," said Waymo's complaint in the Northern District of California.

  • Sales at its logistics business, under which the company offers services such as warehousing and distribution, rose 8.6 percent to $1.38 billion in the fourth quarter ended Dec. 31. The company sold its truckload shipping business, acquired as part of its $3 billion Con-way deal, to Canadian trucking company TransForce Inc for $558 million in October.

  • Bombardier takes part in India's infrastructure build

    Harsh Dhingra of Bombardier Transportation talks about the company's role in developing metro projects in India.

  • Pacific Northwest, sending freight rates soaring and prompting Asian buyers to seek fill-in loads as they wait for the backlog at ports to clear. The setbacks come at a critical time for U.S. exporters, who are trying to move as much grain as possible before buyers turn their attention to South America when corn and soybean harvests in Argentina and Brazil...

  • Pacific Northwest, sending freight rates soaring and prompting Asian buyers to seek fill-in loads as they wait for the backlog at ports to clear. The setbacks come at a critical time for U.S. exporters, who are trying to move as much grain as possible before buyers turn their attention to South America when corn and soybean harvests in Argentina and Brazil...

  • MOSCOW, Jan 31- Freight One, Russia's largest freight rail operator and part of Vladimir Lisin's UCL Holding, has submitted an official bid for a stake in Transcontainer, Freight One board member Alexander Sapronov was quoted as saying by Interfax on Tuesday. Transcontainer is controlled by Russian Railways, which via associated companies owns around 63...

  • NEW YORK, Jan 25- BNSF Railway Co will start offering discounts to ethanol shippers this April if they agree to use new, safer train cars, as it pushes to scrub puncture-prone ones from its rail lines at a faster pace than required by U.S. regulations. There were 35,252 tank cars hauling ethanol in September, and 84 percent, or 29,597, were DOT 111 s, according to the...

  • Train slams through FedEx truck in dashcam video

    Authorities in Utah have released dashcam video showing the exact moment a train slammed into a FedEx truck.

  • The Norfolk, Virginia- based company said it planned $100 million in cost cuts in 2017 as part of its plan announced last year to deliver $650 million in annual savings by 2020.. Coal freight revenue fell 7 percent to $403 million from $433 million, compared with double-digit declines over the past two years. Overall, the railroad said it should benefit from...

  • Canada's largest railroad company said net income rose 8 percent to C $1.02 billion, or C $1.32 per share, in the fourth quarter ended Dec. 31 from C $941 million, C $1.18 per share, a year earlier. Quarterly revenue rose to C $3.22 billion from C $3.17 billion. "While the environment remains somewhat mixed, we do expect to see moderate volume growth," Chief Executive Luc...

  • Indian rescue workers look for survivors at the site of the derailment of the Jagdalpur-Bhubaneswar express train near Kuneru station in southern Andhra Pradesh state on January 22, 2017.

    India recorded 27,581 railway deaths in 2014, the most recent year for which figures are available.

  • BEIJING, Jan 20- China's rail freight volume in December rose 9.8 percent from the same period last year to 315.79 million tonnes, the National Bureau of Statistics said on Friday. China's November rail freight volume rose 13.9 percent from a year earlier. Rail freight volume grew in August for the first time after falling for 31 consecutive months since...

  • DETROIT, Jan 19- The top executive at Union Pacific Corp said on Thursday that the No. 1 U.S. railroad remains opposed to mergers between major railroads in the United States. Union Pacific CEO Lance Fritz told Reuters that "we still think Class 1 mergers in the United States are not a good idea." CSX shares rose nearly 19 percent on Thursday on the news of talks between...

  • Jan 18- Canadian Pacific Railway Ltd, Canada's No. 2 railroad operator, said on Wednesday its chief executive would leave five months earlier than originally expected and it reported a lower-than-expected adjusted quarterly profit. Hunter Harrison will officially step down on Jan. 31 and be replaced by Chief Operating Officer Keith Creel.

  • Jan 18- Canadian Pacific Railway Ltd, Canada's No. 2 railroad operator, reported a lower-than-expected adjusted quarterly profit on Wednesday and said its chief executive would leave five months earlier than originally expected. Hunter Harrison will officially step down Jan. 31 and will take vacation leave with immediate effect. He will be replaced by Chief...

  • CSX EPS misses, revenues beat

    Earnings are out for CSX. CNBC's Morgan Brennan reports the details.

  • MEXICO CITY, Jan 17- Mexico's state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations under the country's energy opening, a senior executive said in an interview. The cargo of just under 60,000 barrels arrived from Port Arthur, Texas, on...