Ground Freight & Logistics

The Trump Administration said on Wednesday that there was no viable way forward for California's High-Speed Rail Project and warned it could revoke $4 billion of government funding in the next few weeks. Transportation Department of the United States released a report by Federal Railroad Administration. The report cited missed timelines, budget shortages, and doubtful ridership projections. California's failure to identify $7 billion additional funding required for a first segment between Merced, California and Bakersfield was cited as a key issue. USDOT gave California California until the middle of July to respond, and then the administration can terminate the grants....

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines - Denmark's Maersk buys Panama Canal railway Deutsche Bank's asset management manager fined 25 Million Euros over greenwashing scandal Steve Buck is named as the new Chief Financial Officer of Thames Water Greencore signs 1.2 billion pound deal with Bakkavor, a UK rival in the ready-meal market View the full article Canadian Pacific Kansas City and Lanco Group, based in the United States, have sold the Panama Canal Railway Company (PCRC) to a Danish Maersk unit. Maersk...

Crowley, a U.S. logistics company, said that only one tank of jet fuel was damaged when a U.S. military tanker transporting a shipment off England's north-east coast was hit by a cargo vessel. Stena Immaculate was anchored off Humberside on 10 March when the smaller Solong struck it. The explosions and fires started. Crowley, the company that manages the tanker said in a Sunday statement the third-party salvage crew had confirmed the damage was "limited to one cargo tank which contained Jet-A1 Fuel and one ballast container containing seawater". Stena Bulk, the owner of the vessel, confirmed Monday that it...

The tariffs imposed by U.S. president Donald Trump on Mexican imports pose a significant risk to farmers in Jacksonville. This is because Mexico's retaliation could cause corn buyers to switch to South American rivals. Mexico is the top corn-importing country in the world. At a time when prices of grains have plummeted and chemical and seed costs for crops are on the rise, this market is crucial for U.S. producers. Farmers in Jacksonville, a small city of 17,000 residents, are more likely to benefit from Mexican demand than other farmers. The residents live near a grain loading facility where corn...

The Trump Administration announced on Thursday that it will review the decision to rescind $4 billion in funding for California's High-Speed Rail Project. The project was approved by voters in 2008 for $10 billion, but costs have increased dramatically and President Donald Trump is a harsh critic of the effort. Under former president Joe Biden, the Transportation Department awarded more than $3 billion to this project. The initial estimate of the total project cost was $40 billion. However, that number has risen to $89 billion and $128 billion. California High-Speed Rail Authority has not yet issued a statement. Federal Railroad...

U.S. trucking firm J.B. Hunt Transportation Services missed out on Wall Street quotes for fourthquarter revenue on Thursday, as high expenditures and a lower truck count weighed on earnings. Repositioning costs connected to network imbalances, in addition to driver hiring and onboarding expenditures, rose in the quarter to support customers' peak season demand, the business stated, referring to its largest section, intermodal. Intermodal shipping includes transferring products by means of two or more ways of transportation. J.B. Hunt's operating earnings from intermodal shipping fell 10% during the reported quarter, regardless of a 5% year-over-year boost in volumes. In its committed...

Unifor stated on Sunday that its members at Canadian National Train have validated a. brand-new fouryear collective agreement, averting a possible strike. action. Unifor, which represents more than 3,000 members at the. railway's Council 4000 and Local 100 committees, said the. agreement consists of enhancements to salaries and advantages as well as. job securities for members operating in CN terminals and. headquarters throughout Canada. The railway earlier this month had actually reached a brand-new tentative. four-year cumulative arrangement with the union. This arrangement protects essential gains that reflect the. important contributions of Unifor members to CN's operations,. Unifor National President...

FedEx's choice to spin off its freight truckload segment will strengthen business while enabling the parcel shipment giant to much better take on challenges in its core operations, analysts stated on Friday. Shares increased 8% before the bell after the announcement late on Thursday and were set to add $5 billion to the company's. market cap, regardless of the bellwether for worldwide trade cutting its. yearly profit projection. FedEx Freight, the largest U.S. service provider of. less-than-truckload (LTL) services, might be valued in between $30. billion and $35 billion, based on a quote from Citi. The decision to continue with...

U.S. Presidentelect Donald Trump has expressed an eager interest in privatizing the U.S. Postal Service in recent weeks, the Washington Post reported on Saturday, mentioning three people with knowledge of the matter. The U.S. Post Workplace, which has lost more than $100 billion given that 2007, reported a net loss of $9.5 billion for its financial year ending Sept. 30, a $3-billion larger loss than in 2015, mostly due to a year-over-year boost in non-cash workers' settlement cost. When informed of the agency's yearly losses, Trump said the government needs to not subsidize the company, according to the Washington Post....

Unifor stated on Monday its members at Canadian National Railway have licensed a strike action at the railway if the celebrations stop working to reach an agreement by Jan. 1. Unifor, which represents more than 3,600 members at the railway's Council 4000 and Local 100 committees, said members voted overwhelmingly in favor of the strike action. CN is dedicated to reaching negotiated agreements with Unifor that benefit workers, clients, and the economy, stated Ashley Michnowski, a representative for Canadian National. Unifor, which represents CN Rail's vehicle technicians and heavy task mechanics among other employees, stated negotiations with the railroad will...

The Dow and the S&P 500 increased somewhat on Wednesday after October data showed consumer rates increasing in line with expectations, adding support to bets that the U.S. Federal Reserve will cut interest rates in December. The consumer price index (CPI) rose 0.2% in October for the 4th straight month and advanced 2.6% on a yearly basis, the Labor Department's Bureau of Labor Statistics said. Leaving out the unpredictable food and energy parts, the CPI increased 0.3%. in October, conference economists' forecasts. After the report, traders' bets showed a more than 82%. possibility for a 25 basis-point rates of interest...

Ayvens, the cars and truck renting system of the French bank Societe Generale, is drawing interest from investment firms who are studying a prospective quote for the company, Bloomberg News reported on Thursday, citing individuals knowledgeable about the matter. Blackstone, Brookfield Property Management and CVC Capital Partners are among the firms thinking about a prospective offer for Ayvens, the report stated, adding the leasing and fleet management business may likewise draw in interest from Japan's JA Mitsui Leasing. SocGen, Brookfield and CVC decreased to comment on the report, while Blackstone did not right away react to a. Reuters ask for...

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...

Blackstone will buy Australian data centre group AirTrunk for an implied enterprise value of over A$ 24 billion ($ 16.10 billion), it said on Wednesday, in what would be Blackstone's biggest financial investment in the Asia Pacific area. The alternative possession supervisor, along with the Canada Pension Strategy Financial Investment Board, is obtaining AirTrunk from Macquarie Asset Management (MAM) and the general public Sector Pension Investment Board (PSP). The deal requires approval from the Australian Foreign Investment Review Board (FIRB), offered the property is being bought by overseas parties. At $16.1 billion, the deal is the biggest buyout in Australia...