Passenger Transportation

Ground Transportation

BP types offshore wind joint venture in renewables pull away

BP and Japanese power generator JERA have agreed to sign up with forces to form one of the world's biggest overseas wind operators, a major step in CEO Murray Auchincloss' efforts to reduce BP's focus on renewables. BP's retreat from overseas wind shows a similar trend at competitors Shell and Equinor, which are trying to boost near-term earnings by investing more on higher-return oil and gas operations. The 50-50 endeavor, called JERA Nex bp, will pool together operating properties and advancement projects with a potential generation capability of 13 gigawatts (GW), the two companies stated in a statement. The partners...

Passenger Ground & Sea Transportation

Japan's Nikkei ends greater as investors assess favorable US information

Japan's Nikkei share average ended higher on Monday as local financiers found convenience from current U.S. data that indicated strong business activity in the world's biggest economy. A measure of U.S. service activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trump's. administration next year. The Nikkei increased 1.3% to close at 38,780.14 on. Monday. The index touched an intraday high of 39,053.64,. crossing the 39,000 level for the very first time since Nov. 15. The more comprehensive Topix gained 0.71% to 2,715.6. Abroad elements are essential...

Ground Transportation

Japan's Mount Fuji eyes China-made tram to transfer hikers, source says

Japanese authorities seeking to lower the carbon footprint and overcrowding at Mount Fuji will propose a trackless, rubbertyred cable car system made by China's CRRC to transport climbers, a person with direct understanding of the plan stated. The brand-new proposition, which has not been formerly reported, would change the original plan to develop a light-rail system linking the base to the fifth hiking station of the popular Yoshida Path to the top after a local city and other celebrations, voiced issue over its ecological and expense effect. Yamanashi Prefecture, home of the most popular path utilized by climbers of the...

Passenger Transportation Services

Magnitude-5.3 earthquake strikes Tokyo after Japan issued megaquake advisory

A magnitude5.3 earthquake hit Tokyo and eastern parts of Japan on Friday evening, the government stated, a day after it released the firstever advisory about the threat of a substantial earthquake in the west of the country. Although damage to the areas closest to the epicentre was not instantly clear, Prime Minister Fumio Kishida said the federal government had actually not gotten any reports of significant damage, speaking at his Tokyo workplace quickly after the quake. The quake's epicentre remained in the Kanagawa prefecture south next to the capital, at a depth of 10 km (6.2 miles), Japan Meteorological Firm...

Passenger Transportation

Financial Times - Oct 24

The following are the leading stories in the Financial Times. Reuters has actually not validated these stories and does not guarantee their accuracy. Headings - Addison Lee to be bought by Singapore-listed group in 269 mln pounds deal - UK ministers explore utilizing break stipulations in asylum real estate agreements - Arm cancels Qualcomm's chip design licence amidst legal dispute - UK competition regulator to probe investment barriers - Intesa Sanpaolo unveils plans to cut 9000 tasks Overview - Addison Lee, the UK-based private-hire taxi and carrier business, has actually accepted be purchased by Singapore-listed transportation conglomerate ComfortDelGro in an...

Passenger Transportation Services

Martin Midstream buyout faces opposition from hedge funds Nut Tree and Caspian Capital

Hedge funds Nut Tree Capital Management and Caspian Capital are planning to oppose the takeover of Martin Midstream Partners by the company's largest shareholder, according to a joint statement from the funds. The hedge funds, that made a competing quote to buy Martin Midstream for $4.50 per system in July, have actually argued that Martin Resource Management Corporation's $157 million deal to buy Martin Midstream undervalues the fuels storage and transporter and raises concerns over disputes of interest. MRMC and Martin Midstream did not right away react to requests for remark. Earlier in October, MRMC accepted buy the common units...

Passenger Transportation Services

China's drivers stress as robotaxis pick up speed - and guests

Liu Yi is among China's 7 million ridehailing chauffeurs. A 36yearold Wuhan citizen, he started driving parttime this year when construction work slowed in the face of an across the country excess of unsold houses. Now he forecasts another crisis as he stands beside his car seeing neighbours order driverless taxis. Everybody will go starving, he said of Wuhan motorists competing versus robotaxis from Apollo Go, a subsidiary of innovation huge Baidu. Baidu and the Ministry of Industry and Info Technology declined comment. Ride-hailing and cab driver are among the first workers globally to face the threat of task loss...