Ground Freight

Bloomberg News, Friday's report, citing sources familiar with the situation, reported that Union Pacific, America's largest railroad operator, may reach an agreement early next week to buy rival Norfolk Southern. Union Pacific announced on Thursday that it was in advanced discussions to acquire its competitor, signaling a possible deal to create a $200 billion coast to coast rail company. This could trigger further consolidation of remaining freight rail giants. Union Pacific refused to comment while Norfolk Southern didn't immediately respond to an inquiry for comment. The merger, which would represent the largest ever buyout of the sector, would Create your...

Union Pacific announced on Thursday that it is in advanced talks with Norfolk Southern about a possible mega-merger, which would create a $200 billion transcontinental railroad giant. In early trading, Norfolk shares rose 2% while Union Pacific, which is the largest U.S. rail operator, fell by 2%. If the deal is approved, Union Pacific will be able to combine its dominant position in the Western 2/3 of the U.S., with Norfolk's 19,500 mile route, which primarily spans 22 eastern states. North American railroads have struggled to meet the demands of shippers and their increasing pressure on service reliability. The largest...

Union Pacific, America's largest freight railroad, beat its second-quarter profit expectations on Thursday thanks to higher coal revenue and better pricing. After President Donald Trump's executive orders to boost coal production, the volume of coal shipment has increased. Union Pacific, a barometer of U.S. economic growth, has also seen strong volumes for its grain product segments and industrial chemical shipments. The policy change has given a boost to the rail industry in recent years, but the North American railroad sector has been struggling with unstable freight volumes, rising fuel and labor costs, and increasing pressure from shippers regarding service reliability....

CSX announced a second-quarter profit that was above analyst estimates on Wednesday. This was due to an increase in intermodal volumes. Volumes of intermodal shipping, which includes two or more modes of transport for goods, and will account for 14% in its total revenue by 2024, increased 2% during the third quarter. CSX Chief Executive Joe Hinrichs stated on Wednesday that despite the continued uncertainty in certain industrial markets, the firm remained focused to complete two major infrastructure projects which will "strengthen [our] position to execute many profitable growth opportunities that lie ahead." In extended trading, shares of the Jacksonville-based...

The copper price in the United States rose 3.6% to $5.93 per lb on Wednesday, a new record. This is ahead of Donald Trump's planned 50% tariffs on August 1, which will be imposed on imports. The COMEX copper contract that is most actively traded has gained 32 percent since Trump's investigation into the copper tariffs in February. This prompted a massive flow of metals to the U.S., to take advantage the premium offered over the London Metal Exchange benchmark. The COMEX premium over LME copper was also at a record-high on Wednesday. It topped $3,100 per metric tonne. Trade...

Sources said that BNSF Railway hired Goldman Sachs while CSX Corp was in discussions to hire financial advisers. Union Pacific's interest of acquiring Norfolk Southern sparked a deal wave in preparations for a potential reshaping of the U.S. rail freight industry. The move by BNSF and Jacksonville's CSX, both owned by Warren Buffett and Berkshire Hathaway respectively, comes after Union Pacific started exploring a possible acquisition of Norfolk Southern. This could create a 200 billion dollar coast-tocoast rail network, marking the largest consolidation in this sector for decades. Any deal will be subject to intense regulatory scrutiny, and is still...

Two sources with knowledge of the situation said on Monday that the Berkshire Hathaway owned BNSF Railway was working with Goldman Sachs in order to investigate the acquisition of a competitor railroad. The deal would be the latest in a series of M&As that have taken place in the rail sector. This is due to rival Union Pacific possibly acquiring Norfolk Southern for $200 billion to create a coast-to-coast railway network. The merger of Union Pacific and Norfolk Southern will create the U.S.'s first single-line West-to East freight railroad, changing the competitive landscape in the industry for competitors like BNSF....

A person familiar with this matter has confirmed that Union Pacific, which is the largest U.S. railroad operator in terms of freight, is looking at acquiring Norfolk Southern, to create a coast-to-coast network worth $200 billion. The person stated that the talks are still in their early stages. There is no guarantee that they will continue or any deal will pass what would have to be an extensive, detailed regulatory examination. Both companies declined to make any comments. A deal that unites two of the largest freight rail operators from North America will likely be subject to intense scrutiny by...

Mexican truck drivers from the border city Ciudad Juarez are studying English to comply with a President Donald Trump executive order that requires commercial drivers to be proficient in English. To meet U.S. standards, 50 truck drivers hauling goods between Ciudad Juarez, Mexico, and El Paso in Texas attend four to eight hours a week of English classes organized by their employers, Fletes Sotelo. Manuel Sotelo said that classes began six weeks ago and the goal was to have all drivers of the company know basic English. Sotelo also serves as the president of Ciudad Juarez's transport association. Jose Murguia...

The Wall Street Journal reported that Union Pacific was looking at a deal with rival Norfolk Southern. This merger could be a game changer for the industry and attract intense regulatory scrutiny. Norfolk's shares grew 4% in extended trade. The Journal, citing sources familiar with the situation, said that the talks were in an early stage, and there was no guarantee they would lead to a deal or regulatory approval. Union Pacific and Norfolk Southern have not responded to comments immediately. The acquisition could create a railroad titan with a combined value of around $200 billion. This would further consolidate...

U.S. Transportation secretary Sean Duffy is confident that the administration will win any lawsuits challenging the department's decisions to rescind the $4 billion of U.S. Government funding for California's High-Speed Rail Project. "I wish that it had gone to California. We supported the California project but it will cost more than $130 billion, and there is no funding plan or timeline for completion. Duffy told reporters in front of the department's HQ that "we have to pull out the plug". California High-Speed Rail System (California High-Speed Rail System) is a two-phase 800-mile (1,287-km) system that will connect San Francisco with...

The U.S. president Donald Trump announced on Wednesday that the Transportation Department will revoke $4 billion of U.S. Government funding for California's High-Speed Rail Project. The Department said that there is no viable way forward for California High-Speed Rail and was considering clawing back any additional funding for the project. Last month, the Federal Railroad Administration released a 315 page report citing missed timelines, budget shortages and questionable projections of ridership. California has not allocated the $7 billion additional funding required to build a 171-mile initial segment between Merced, California and Bakersfield. California High-Speed Rail System (California High-Speed Rail System)...

After years of discussions and complaints by licensed taxi drivers in Hong Kong, the Hong Kong government has presented proposals to regulate ride-hailing services, such as Uber. Uber, the first ride-hailing service in Hong Kong to operate without regulation, was launched in 2014. Uber drivers were arrested for driving without a licence after police raided the office of Uber in 2015. Ride-hailing services have an unfair advantage over taxis, according to the city's taxi sector, which is struggling with a decline in income. The Transport and Logistics Bureau stated in a document submitted to the Legislature that all platforms offering...

According to the CEO of the London Metal Exchange, there is a strong demand for metal delivery before the new warehouses open in Hong Kong next month. This is partly due the tightness of the copper market. The LME approved the construction of three new warehouses in Hong Kong last month, bringing the total up to seven. This is part of its efforts to increase its presence in this city, which is the gateway for the world's largest metals consumer - China. Hong Kong's high costs have led to questions regarding the viability and cost of new storage facilities in...

Leasys, an auto leasing company, aims to double its fleet's share of electric and hybrid vehicles by the end of next year. The rapid advancements in electric technology present challenges to the industry. Leasys, a 50-50 joint venture between Stellantis in Italy and France's Credit Agricole is the third-largest player in Europe's long term auto rental industry. The long-term lease, which allows the customer to rent a car at a fixed rate per month, usually for a minimum of 365 days, is an alternative to owning. In recent years, corporate clients have driven its popularity. Leasys is present in 11...

Reports citing four traders indicate that copper inventories at the Shanghai Futures Exchange will continue to fall this week. This would be a continuation of the steep drop, and could trigger a price spike. Traders said that the surge in prices for ShFE copper, an important metal used by China's massive manufacturing sector, would attract more metal into the exchange warehouses. This will make a complete depletion of the stock unlikely. Yangshan copper premium is already tightening up. It is a measure of China's appetite to import copper. On Monday, it was at $93 per ton, its highest level since...

The following are the leading stories on the business pages of British newspapers. Reuters has not verified these stories and does not guarantee their precision. The Times - The takeover of Harland & & Wolff by the Spanish state-owned shipbuilder Navantia has been finished in an offer anticipated to secure more than 1,000 British tasks. - More than $700 billion was wiped from the worth of the world's biggest technology business after the emergence of a. cut-price Chinese rival to ChatGPT raised doubts over whether. America can sustain its lead in expert system. The Guardian - Elon Musk's Tesla has...

The London Metal Exchange (LME) has authorized Hong Kong as an LME delivery point and the listing will become active three months after the first warehouse company has been approved, it stated on Monday. The metals approved for shipment in Hong Kong SAR are aluminium alloy, copper, lead, nickel, primary aluminium, tin, and zinc, the LME stated. Companies looking for approval to operate a warehouse in Hong Kong needs to reveal that they have access to the needed experience needed to run a storage facility in accordance with the LME procedures, it stated. Authorizing storage facilities in China, the world's...

Hong Konglisted JD Logistics will get the 36.43% stake it does not currently own in KuayueExpress Group for not more than 6.48 billion yuan ($ 892 million), the business stated on Friday. Under a contract, Suqian Jingdong Bohai Enterprise Management, a system of JD Logistics, will acquire the staying stake in Kuayue-Express. JD Logistics got a controlling stake in Kuayue-Express, a logistics providers in China, in 2020 to further improve its freight business and reinforce its services. The acquisition of Kuayue-Express will allow JD to focus on even more synergies between the companies and accelerate its development and competitiveness, JD...

Shooters took 6 captives this month while exchanging fire with troops in India's. northeastern state of Manipur after a rocketpropelled grenade. decreased lorries and homes to charred hulks in the sloping. district of Jiribam. Ethnic clashes over land and quotas in education and. federal government jobs have killed a minimum of 258 people and displaced. more than 60,000 given that in 2015 in the greatest law-and-order. failure for Prime Minister Narendra Modi's celebration, which guidelines. the state. Retaliatory fire by troops killed at least 10 gunmen in the. Nov. 11 attack, which authorities blamed on the Hmar group among. the...

Warehouse designer IndoSpace stated on Tuesday it will increase investment in the southern state of Tamil Nadu by 41% over the next three years, to meet increasing need for industrial parks as more companies set up bases in India. Storage facility developers are facing a mad demand rush as companies bank on the country's economic boom and attempt to diversify supply chains beyond China. India's warehousing market is expected to more than double to $37 billion by 2032, speaking with company IMARC Group estimates. Since 2023, the marketplace was valued at $16.4 billion. IndoSpace, which has actually currently invested $380...

China's BingEx said on Friday it had raised $66 million in its U.S. going public valuing the courier delivery company at $1.17 billion, signaling a recovery in financiers' risk hunger and easing regulatory obstacles. The company, which brands its services as FlashEx, sold 4 million American depositary shares (ADS) in the offering priced at $16.50 each. It had actually intended to offer shares at a variety in between $ 15 and $17. The IPO bodes well for the broader market which had been depressed for nearly 2 years due to higher-for-longer interest rates and chaos in the stock markets. The...

The London Metal Exchange ( LME) is set to approve the expansion of its international metals warehousing network into Hong Kong before completion of this year, 3 sources with knowledge of the matter stated, opening the door to mainland China. Registering warehouses in China, the world's biggest consumer of commercial metals, to keep metal traded on the LME has been a strategic aim because Hong Kong Exchanges and Cleaning ( HKEx) bought the LME in 2012 for $2.2 billion. Broadening into Hong Kong would indicate a considerable increase to LME trading volumes. In a discussion made to the LME's warehousing...

China's Dongfeng Motor Group needs to assess sales prospects in Europe before choosing the possible opening of a factory in the area, one of its magnates said on Thursday. Ma Lei, the general manager of Dongfeng worldwide business, was speaking at an item event in Turin, Italy, in the middle of efforts by the Italian government to convince Chinese automakers to produce in the nation. Rome has stated it remains in conversations with Chinese business consisting of Dongfeng and Chery Automobile. Talks with Dongfeng authorities about an automobile plant in Italy are at an advanced stage, sources stated in August....