Ground Freight

The U.S. administration of President Donald Trump froze $2.1 Billion in Chicago transit funding Friday, starving yet another Democratic city as the government shutdown enters its third day. Budget director Russ Vought stated that the money, which was earmarked to build elevated train lines, has been placed on hold in order to prevent it from "flowing through race-based contracts." Trump has escalated his campaign to use extraordinary powers of the U.S. Government to punish political opponents. Later in the day, The White House announced that it would identify funds that could be held back from Portland, Oregon. Portland is a...

A major Australian pension fund, Aware Super, has said that it will continue to invest in U.S. real estate, as they are confident of the long-term economic fundamentals, and that domestic consumption levels, won't be affected by current political volatility. One of Australia's largest pension funds (A$190 billion, or 125 billion dollars) announced this week it will be embarking on an $1.3 billion venture to purchase a U.S. Industrial Property Fund that owns three Los Angeles logistics sites. Superannuation funds, Australia's compulsory retirement saving scheme worth A$4.1 trillion (US$2.7 trillion), are turning more and more to international investments for higher...

Mexico's automotive industry has warned of "complexity" in the future of the United States-Mexico-Canada Agreement. Executives cited concerns about tighter rules for origin and the scrutiny of Asian components. Heavy-vehicle makers expressed their concerns at the CIAN Automotive Conference about adapting to current rules while meeting USMCA requirements. To qualify for tariff-free entry, the agreement requires that a percentage of vehicle components originate in North America. Rogelio Garca, president of the National Association of Bus, Truck and Tractor Truck Manufacturers, (ANPACT), said that the current rule is not feasible, given the fact that components are often imported multiple times prior...

The National Transportation Safety Board urged Southeastern Pennsylvania Transportation Authority on Wednesday to take immediate action to eliminate the fire risk in its fleet Silverliner IV Railcars. The safety board stated that the design and maintenance practices of the agency and their railcars are outdated and pose "an immediate and unacceptable risk due to the severity and frequency of electrical fires which can spread into occupied compartments." The NTSB investigated five fires that occurred in SEPTA vehicles since February. SEPTA is the sixth largest public transit system in America. It provides service in five counties of the Greater Philadelphia Area...

A Surface Transportation Board member who was fired by President Donald Trump last August has filed a lawsuit on Wednesday. He is challenging his dismissal as the Surface Transportation Board prepares to consider a major decision regarding combining railways. Robert Primus referred to his firing as an "illegal removal". He said that Trump had "failed to provide a single reason for the termination, much less one that satisfied the statutory requirements of inefficiency, negligence of duty or malfeasance at office." Primus asked a U.S. District Judge in Washington, D.C., to reinstate him. The U.S. Rail regulator is considering a proposed...

The latest funding round for Swedish self-driving vehicle startup Einride raised $100 million from investors including asset management company EQT Ventures, and quantum computing firm IonQ at an undisclosed value. The company said that the capital would allow them to expand their customer base, develop new technology and scale up the deployment of their autonomous freight trucks. Self-driving trucking technology is a promising way to grow the long-haul and freight industry. However, it faces regulatory scrutiny. As they follow fixed routes, usually on highways with no pedestrians or intersections, self-driving services do not require as much mapping. Einride will raise...

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. A court filing on Monday revealed that Alphabet, which owns YouTube, has agreed to pay the $24.5 million settlement to settle the lawsuit brought by U.S. president Donald Trump against the company for the suspension of the account after the January 2021 U.S. Capitol Riots. Trump announced that he would impose 10% tariffs on imported wood and lumber, and 25% on kitchen cabinets and bathroom vanities, as well as upholstered furniture....

The Nasdaq Composite and S&P 500 both closed slightly higher on Monday, as investors purchased heavyweight technology shares and shrugged aside the uncertainty surrounding a possible U.S. Government shutdown and hawkish comments from a Federal Reserve Official. Investors bet on artificial intelligence's growth and expected that the Fed would continue to cut interest rates in order to combat persistent inflation and labor uncertainty. Wall Street has been focusing on a funding standoff between Republicans, and Democrats, which could lead to a shutdown of the government beginning Wednesday. This is the first day of fiscal year 2026 for the U.S. Lindsey...

Two U.S. Senators urged on Monday the country's automotive safety regulator to look into reported failures by Tesla's Full Self-Driving System to detect and respond safely to railroad crossings. They cited risks of "catastrophic collisions". According to Tesla, the Full Self-Driving System allows a car to drive its occupants “almost anywhere”, handling everything from navigation, lane changes and steering to parking. However, a human must still supervise. In a letter sent to the National Highway Traffic Safety Administration, Democratic Senators Ed Markey, and Richard Blumenthal called for an investigation. They cited the growing number of near-collisions reported. The letter was...

Ancora Holdings, an activist investor, welcomed the news on Monday that railroad operator CSX had replaced its CEO. It said they expected his successor to find a merger partner. Ancora Holdings, an activist investor, said it was pleased to hear that CSX had replaced its CEO Joe Hinrichs by Steve Angel on Monday. CSX responded after Ancora urged them to find a new leader or pursue a merger. Ancora announced in August that it was ready to engage in a proxy battle to force these changes. It said CSX stood to lose most after the news in July of Union...

Investors shrugged off concerns about a government shutdown, and Federal Reserve officials' hawkish comments. The S&P 500 index and Nasdaq index rose on Monday. The rise in stock prices reflects a risk-on attitude among investors. Their expectations of a Fed that is dovish have allowed equities to maintain lofty valuations even as inflation fears and labor market uncertainty persist. "Dip purchasers are rewarded on this market." "One day, they will not, but until proven differently, you need to buy dips," Matthew Tuttle said, CEO of Tuttle Capital Management. At 11:52 am. The Dow Jones Industrial Average dropped 92.77, or 0.2%...

S&P 500 index and Nasdaq index both gained on Monday. Investors shrugged of hawkish remarks by a Federal Reserve official, and weighed in on the potential impact of a government shutdown. These moves are a continuation of Friday's gains. An in-line inflation reading kept the hopes for rate reductions alive, and lifted all three main indexes despite their weekly declines. Beth Hammack of the Cleveland Fed, one of the Fed's most hawkish officials, and who did not vote on the policy for this year, stated that the central bank must maintain a restrictive monetary policy in order to cool the...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Mexico is planning to increase import tariffs on almost 1,500 products including cars, steel, textiles and appliances to protect the domestic industry and job opportunities, particularly from cheap Chinese goods. This comes amid wider trade talks with both the U.S. Oracle has signed an unprecedented $300 billion cloud computing contract with OpenAI to support massive AI expansion starting in 2027. This is one of the biggest tech contracts ever, and signals a high-stakes wager on ChatGPT’s continued...

Two sources familiar with the matter said that JD.Com's property investment arm and two other firms are planning to launch a Singapore based real estate trust (REIT), with assets valued at potentially more than $1 billion. Sources said that JD Property (the unlisted infrastructure investment platform and asset management platform for JD.Com) is creating the REIT in partnership with Partners Group, a Swiss investment firm, and EZA Hill Property which is backed up by Asian investment firm Hillhouse. Sources who refused to name themselves because the matter was private said that the REIT plan could be listed at the Singapore...

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. Vinay Prashad, chief medical and scientific officer of the U.S. Food and Drug Administration, has resigned from the U.S. Department of Health and Human Services (which oversees the FDA). After a rare 8.8-magnitude earthquake hit Russia's east coast, the National Weather Service upgraded its tsunami warning to cover a 100-mile stretch of Northern California coastline between Cape Mendocino bordering Oregon. Union Pacific announced that it would purchase smaller rival Norfolk Southern...

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...