Business Transportation

  • NEW YORK, Sept 16- Motorists logged 287.5 billion miles on U.S. roads in July, the most ever for the month and a 2 percent increase over last year, according to data released Friday by the U.S. Department of Transportation. Driving activity is closely watched since the United States accounts for about 10 percent of global gasoline demand. Gasoline demand in June was...

  • A file photo of a Hanjin container ship.

    A lawyer for Hanjin Shipping Co Ltd said on Thursday a U.S.-bound vessel was held "hostage" by disputes over payments.

  • LONDON/ FRANKFURT, Sept 15- German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders- among the biggest backers of shipowners over the past 20 years- are behind up to a quarter of the world's $400 billion of outstanding shipping loans, three shipping financiers told Reuters.

  • Sept 15- A lawyer for Hanjin Shipping Co Ltd, the failed South Korean container carrier, said on Thursday a U.S.-bound vessel was held "hostage" by disputes over payments, adding to the struggles in getting $14 billion of cargo off its ships stranded at sea. "There is no clear visibility yet on what will happen with this business," Hanjin lawyer Ilana Volkov said at a...

  • Sept 15- A lawyer for Hanjin Shipping Co Ltd, the failed South Korean container carrier, said on Thursday a U.S.-bound vessel was held "hostage" by disputes over payments, adding to the struggles in getting $14 billion of cargo off its ships stranded at sea. "There is no clear visibility yet on what will happen with this business," Hanjin lawyer Ilana Volkov said at a...

  • DETROIT, Sept 15- Self-driving cars and electric vehicles could provide important sources of new revenue for Adient, the $17- billion automotive seating and interiors business that is being spun out of Johnson Controls Inc, Adient's top executive said on Thursday. Adient will be the world's largest supplier of seats and interiors when it begins trading Oct. 31...

  • LONDON/ FRANKFURT, Sept 15- German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders- among the biggest backers of shipowners over the past 20 years- are behind up to a quarter of the world's $400 billion of outstanding shipping loans, three shipping financiers told Reuters.

  • SAN FRANCISCO, Sept 15- China- based internet company Baidu has received a permit to test its self-driving cars in California from the state's Department of Motor Vehicles, as the race to introduce driverless automobiles accelerates. California is seen as a crucial testing ground for autonomous vehicles due to technological innovations being developed in...

  • LIMA, Sept 15- A more than 3,000- mile-long railway proposed by China to bridge Atlantic and Pacific ports in South America would cost $60 billion, Peru said on Thursday, further dampening prospects of the project coming to fruition. Last year, China and Peru agreed to study the feasibility of the railway that would cross the Amazon and Andes to slash the cost of...

  • AMERICAN AIRLINES HAS REALIZED MORE THAN HALF OF EXPECTED SYNERGIES SO FAR SINCE 2013 MERGER WITH US AIRWAYS- CHIEF INTEGRATION OFFICER.

  • LONDON, Sept 14- Authorities in a port controlled by Yemen's Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships' owners, an incident which could make it more difficult for the country to import vital supplies. Ocean Tankers, the Singapore- based owner of the two 74,000 tonne ships, the Chao Hu and the...

  • Elon Musk

    Autopilot isn't designed to cover all possible crash situations in a safe manner, Amnon Shashua, chair and CTO at Mobileye, says.

  • Hanjin reflects the state of shipping carriers industry: Peel Ports Group

    The shipping industry has been facing challenges such as insufficient return-on-capital and low shipping rates, says Peel Ports Group's Jeremy Masters.

  • LONDON, Sept 14- Authorities in a port controlled by Yemen's Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships' owners, an incident which could make it more difficult for the country to import vital supplies. Ocean Tankers, the Singapore- based owner of the two 74,000 tonne ships, the Chao Hu and the...

  • CHICAGO, Sept 14- Package delivery company United Parcel Service Inc said on Wednesday it plans to hire around 95,000 seasonal employees for its crucial peak holiday season this year, unchanged from the past two years as improvements to its network should help it handle rising ecommerce volumes. "We're always looking for how we can improve efficiencies as a...

  • JetBlue

    A spat among airlines over which deserved the contract to fly U.S. government workers on certain routes intensified on Tuesday.

  • Uber’s self-driving Volvo XC90

    The first self-driving Uber vehicles are moving into the next phase — giving real customers rides.

  • PITTSBURGH, Sept 14- When Pittsburgh wakes up on Wednesday morning, some residents will have the choice of going about their day in an Uber that drives itself. The launch of Uber's self-driving pilot program marks the public unveiling of the company's secretive work in autonomous vehicles and the first time self-driving cars have been so freely available to...

  • SHANGHAI/ SINGAPORE, Sept 14- Three ships chartered to Hanjin Shipping Co Ltd have been sold and two more vessels are up for sale, ship brokers said on Wednesday, kicking off an asset sale sparked by the failure of the world's seventh largest container shipper. Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms...

  • SINGAPORE, Sept 14- Singapore Airlines Ltd will not extend the lease on its first Airbus A380 jet when it expires next year, a further blow for Airbus Group as the manufacturer seeks to bolster new sales of the world's largest passenger plane. "Our first five A380s are on a 10- year lease, with options to extend. The first one will expire in October next year, and we have...

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