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Business Transportation


  • WASHINGTON, May 19- The U.S. House of Representatives overwhelmingly passed on Tuesday a two-month extension of federal spending authority on transportation projects, delaying decisions over longer-term funding until the Highway Trust Fund is depleted in July. Because it relies on the remaining money in the Highway Trust Fund, the House measure requires no...

  • How much will Philadelphia crash cost Amtrak? Tuesday, 19 May 2015 | 1:58 PM ET
    Officials meet at the site of a derailed Amtrak train in Philadelphia, May 13, 2015.

    If Congress lifts a claims cap, Amtrak could face damages of as much as half a billion dollars from losses related to last week's crash.

  • Video shows Uber drivers how to manipulate prices Tuesday, 19 May 2015 | 1:32 PM ET
    Uber Winter Storm

    The online video, which appeared on an Uber driver online forum, appears to show how repeatedly canceling planned pickups causes fees to increase.

  • RIO DE JANEIRO, May 19- Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co, as it looks to raise cash in the midst of an iron ore price slump. In a separate statement on Tuesday, the miner said it had completed the sale of four other large iron ore carriers to China Ocean Shipping Company, which was...

  • WASHINGTON, May 19- UPS has agreed to pay $25 million to settle some allegations that it submitted false claims to the U.S. government in an attempt to hide late deliveries, according court documents unsealed on Tuesday and released by the U.S. Department of Justice. The federal government as well as nineteen states, the District of Columbia and the cities of...

  • BERLIN, May 19- German industry warned that a train drivers' strike that began on Tuesday, the ninth in 10 months, could cost Europe's biggest economy 100 million euros a day and hurt its image as an industrial and logistics hub. Freight services in Germany were disrupted as drivers at rail operator Deutsche Bahn went out on a strike organised by the GDL union,...

  • BEIJING, May 19- China has unveiled a vision for the next stage of its economic ascent, moving from plain manufacturing to a world of prosperity from space, e-commerce, green energy and bioengineering, among others. Faced by economic growth at its lowest level in decades and rising wages and resource costs that are eroding its appeal as a low-cost factory for the...

  • BEIJING, May 19- A Chinese consortium of Ruili Airlines, a privately-owned start-up budget carrier, and two leasing firms has signed a deal to buy 60 B737 MAX jets from Boeing Co for 38 billion yuan, the official Xinhua News Agency said late on Monday. One-year-old Ruili, based in southwestern China's Yunnan province, aims to expand its fleet to 56 jets by the end of...

  • Taxi medallions becoming unsellable Monday, 18 May 2015 | 1:58 PM ET
    A woman hails a taxi in New York.

    The slide in medallion prices has left many owner-operators and big fleet managers pessimistic about their assets, USA Today reports.

  • No fatalities have been reported from the defect so far, the National Highway Traffic Safety Administration said on Monday. "Nissan is cooperating fully to answer the agency's questions regarding this issue in a timely manner. Nissan is committed to a high level of customer safety, service and satisfaction, " Nissan North America spokesman Steve Yaeger said.

  • May 18- U.S. vehicle safety regulators have launched a preliminary evaluation of about 130,000 Nissan Versa cars after receiving complaints about fractures in the front suspension coil spring. Some owners of these cars have complained that the fractures could lead to tire puncture or brake line damage while driving, the National Highway Traffic Safety...

  • Amtrak trains rolling on busy Northeast Corridor Monday, 18 May 2015 | 7:00 AM ET
    Amtrak train car on teh 5:30am from Penn Station days after a deadly derailment.

    Amtrak trains began rolling on the busy Northeast Corridor early Monday, the first time in almost a week following a deadly crash.

  • May 18- Summer travel on U.S. airlines is expected to reach an all-time high this year on the wings of a strong U.S. economy, Washington- based trade group Airlines for America said on Monday. The top three nonstop international destinations from the United States are Canada, Mexico and the United Kingdom, the group said. Strong U.S. domestic demand is poised to...

  • Amtrak ordered to take rail safety steps after crash Sunday, 17 May 2015 | 6:46 AM ET
    Men walk towards the site of a derailed Amtrak train in Philadelphia, May 13, 2015.

    Amtrak must take immediate steps to improve the safety of its busiest route after a derailment in Philadelphia that killed eight passengers and sent more than 200 to hospitals.

  • May 15- Delta Air Lines Inc said on Friday that Amtrak customers whose tickets were canceled because of Tuesday's train crash in Philadelphia can fly between New York and Boston or Washington for free on Delta's shuttle service for the next four days. The Atlanta- based airline is adding seats along the Eastern Seaboard in response to the crash by flying more...

  • Amtrak train possibly struck before it derailed Friday, 15 May 2015 | 6:57 PM ET
    Men walk towards the site of a derailed Amtrak train in Philadelphia, May 13, 2015.

    An assistant conductor on the derailed Amtrak train believes she heard the engineer say it had been struck. NYT reports.

  • Rallying together for a ride Friday, 15 May 2015 | 4:44 PM ET
    Rallying together for a ride

    Rally Bus connects you with other riders who are traveling to the same event or destination and delivers high-end buses for transport. How the service works, with founder and CEO Numaan Akram.

  • LISBON, May 15- Portugal's government has received three bids for the struggling state-owned flag carrier TAP in its second attempt to privatise the heavily indebted airline since 2012, Transport Secretary Sergio Monteiro said on Friday. One of the interested parties was Brazilian-American businessman David Neeleman, the founder of U.S. airline JetBlue...

  • Icahn hitches ride with Lyft Friday, 15 May 2015 | 3:39 PM ET
    A Lyft customer gets into a car on January 21, 2014 in San Francisco.

    Famed investor Carl Icahn is leading a round of $150 million in new funding for Lyft. Discussing what the move means for the ride-sharing company, with CNBC's Kate Rogers and Andrew Romans, Rubicon Venture Capital.

  • Transports run out of steam: Pro Friday, 15 May 2015 | 3:24 PM ET
    Transports run out of steam: Pro

    Stock brawl! Carter Worth, Conerstone Macro, predicts downside in the transports, while Gary Bradshaw, Hodges Capital Management, sees value in the space.

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