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Transportation Road and Rail

  • *Sixt owns 50 percent of BMW's car-sharing firm DriveNow. FRANKFURT, Aug 17- German carmakers Daimler and BMW may be in talks to combine their car-sharing services Car2Go and DriveNow, the chief executive of car rental company and DriveNow partner Sixt hinted on Thursday. Asked whether Sixt was involved in merger talks with Daimler and BMW, Chief Executive Erich...

  • FRANKFURT, Aug 17- German carmakers Daimler and BMW may be in talks to combine their car-sharing services Car2Go and DriveNow, the chief executive of car rental company and DriveNow partner Sixt hinted on Thursday. Asked whether Sixt was involved in merger talks with Daimler and BMW, Chief Executive Erich Sixt said: "At the last press conference I made clear that...

  • Aug 16- General Motors Co's Maven car sharing and rental unit is expanding its partnerships in ride and delivery services as parent GM considers whether to enter the on-demand mobility business now dominated by Uber Technologies and Lyft Inc.. Through Gig, Maven can provide GM vehicles directly to ride-sharing drivers who previously leased them through...

  • Aug 16- General Motors Co's Maven car sharing and rental unit could wind up competing with two of its biggest customers, Uber Technologies and Lyft Inc, with an ambitious expansion plan that could take it eventually into ride and delivery services. Through Gig, Maven can provide GM vehicles directly to ride-sharing drivers who previously leased them through...

  • The letter, from the Rail Customer Coalition sent on Monday, is the latest challenge to CSX Chief Executive Hunter Harrison's effort to ramp up productivity at the Jacksonville, Florida- based railroad and fulfill investor expectations for substantially better financial performance. Senators John Thune of South Dakota and Bill Nelson from Florida, and...

  • CALGARY, Alberta, Aug 14- M&G Investment Management Ltd, the largest shareholder in Canada's Gibson Energy, on Monday urged the Calgary- based oil and gas infrastructure company to launch a strategic review process to cut costs and boost returns. Monday's letter, signed by M&G's Global Dividend Fund manager Stuart Rhodes, said the fund had been trying to apply "...

  • CALGARY, Alberta, Aug 14- M&G Investment Management Ltd, the largest shareholder in Canada's Gibson Energy, on Monday urged the Calgary- based oil and gas infrastructure company to launch a strategic review process to cut costs and boost returns. Monday's letter, signed by M&G's Global Dividend Fund manager Stuart Rhodes, said the fund had been trying to apply "...

  • Aug 14- U.S. truck leasing and rental company Ryder Systems Inc said on Monday it would become the exclusive sales partner for California- based electric truck maker Chanje, which would roll out its first commercial vehicle in the last quarter of 2017.. Ryder said it placed its first order for medium-duty electric trucks made by Chanje, as it looks to make...

  • SAN FRANCISCO, Aug 9- Tesla Inc is developing a long-haul, electric semi-truck that can drive itself and move in "platoons" that automatically follow a lead vehicle, and is getting closer to testing a prototype, according to an email discussion of potential road tests between the car company and the Nevada Department of Motor Vehicles, seen by Reuters.

  • SAN FRANCISCO, Aug 9- Tesla Inc is developing a long-haul, electric semi-truck that can drive itself and move in "platoons" that automatically follow a lead vehicle, and is getting closer to testing a prototype, according to an email discussion of potential road tests between the car company and the Nevada Department of Motor Vehicles, seen by Reuters.

  • Net income for Omaha, Nebraska- based Berkshire fell to $4.26 billion, or $2,592 per Class A share, from $5 billion, or $3,042 per share, a year earlier. Operating profit declined 11 percent to $4.12 billion, or $2,505 per Class A share, from $4.61 billion, or $2,803 per share. "They had a good quarter," said Bill Smead, chief executive of Smead Capital Management Inc in...

  • Net income for Omaha, Nebraska- based Berkshire fell to $4.26 billion, or $2,592 per Class A share, from $5 billion, or $3,042 per share, a year earlier. Operating profit declined 11 percent to $4.12 billion, or $2,505 per Class A share, from $4.61 billion, or $2,803 per share. "They had a good quarter," said Bill Smead, chief executive of Smead Capital Management Inc in...

  • Hyndman, Pa., Aug 2- Rail cars carrying gas and sulfur on a CSX Corp freight train skidded off the tracks and burst into flames on Wednesday in a small Pennsylvania town, forcing hundreds of residents to flee their homes as firefighters fought the blaze. No injuries were reported after the crash in Hyndman, about 100 miles southeast of Pittsburgh.

  • Aug 2- A CSX Corp freight train carrying flammable materials derailed as it moved through a southern Pennsylvania town on Wednesday, striking a residential garage that caught fire, forcing more than 100 residents from their homes, authorities said. No injuries were reported after the crash in Hyndman, about 100 miles southeast of Pittsburgh, but CSX warned...

  • Aug 2- A CSX Corp freight train derailed as it moved through a southern Pennsylvania town on Wednesday, striking a residential garage that caught fire and forcing more than 100 residents from their homes, authorities said. No injuries were reported after the crash in Hyndman, about 100 miles southeast of Pittsburgh, but CSX warned customers of service...

  • CN chief executive Luc Jobin said on a call with analysts that he expects volume growth during the second half of the year, despite tougher comparable figures from the fourth quarter of 2016. "It's a lot of volume coming at us," CN chief financial officer Ghislain Houle said on the call. CN reaffirmed 2017 adjusted earnings per share of C $4.95 to C $5.10, despite...

  • Canada's largest railroad company said net income rose to C $1.03 billion, or C $1.36 per share, in the second quarter ended June 30 from C $858 million, C $1.10 per share, a year earlier. Excluding items, the company earned C $1.34 per share, slightly ahead of analysts' average estimate of C $1.32, according to Thomson Reuters I/B/E/S. Revenue rose 17 percent to C $3.33...

  • July 25- Canadian National Railway Co reported a 20 percent rise in quarterly profit on Tuesday as the railroad moved higher volumes of commodities including Canadian grains and fertilizers. Canada's largest railroad company said net income rose to C $1.03 billion, or C $1.36 per share, in the second quarter ended June 30 from C $858 million, C $1.10 per share, a...

  • SAN FRANCISCO, July 25- Convoy, an app connecting truck drivers with loads of freight, has raised more than $60 million as startup investors double down on technology bets to transform the long-haul trucking industry. The funding round was led by Y Combinator, a technology startup accelerator based in Silicon Valley, Convoy Chief Executive Officer Dan Lewis...

  • Artist's impression of the MTR Express' newly unveiled Trainy McTrainface

    A train operator in Sweden has vowed to name one of its trains Trainy McTrainface in a bid to bring “joy” to all those disappointed when the U.K. overturned a public vote to name a polar research ship with a similar quirky name.