Ground Transportation

Sky News reported Wednesday that UK-based Long Harbour had secured funding to launch an alleged 700 million pound (944.5 million dollars) takeover bid of PRS REIT. Following the news, shares in PRS jumped 5.2% to reach a new record high of 125p. In February, the real estate investment trust that was created to invest in private rental sectors said it received multiple proposals from unnamed bidders. Sky News' report could not be verified immediately. PRS and Long Harbour have not responded to comments immediately. Sky News declined to comment on the companies' refusal to comment. The report said that Long...

The British Columbia Environmental Assessment Office determined on Thursday that the work on the Prince Rupert Gas Transmission Natural Gas Pipeline Project has already been substantially begun, according to the provincial government. B.C. said that the decision meant a certificate of environmental assessment for 2014 will remain valid indefinitely unless it is suspended or revoked under the Environmental Assessment Act. In a press statement, the government confirmed this. The PRGT project, which spans 900 km from Hudson's Hope to Lelu Island near Prince Rupert on Canada's Pacific Coast. The 900-kilometre PRGT project will run from Hudson's Hope in northeastern B.C....

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....

Maria Zakharova, spokeswoman for the Russian Foreign Ministry, said that on Wednesday, the West had been involved both directly and indirectly in Ukrainian "terrorist" attacks against civilian targets within Russia. The U.S. President Donald Trump’s Ukraine envoy stated that the risk of an escalation in the war in Ukraine had "gone way up" since Ukrainian forces used drones against nuclear-capable aircraft at several airbases inside Russia. The Russian State Investigative Committee accused Ukraine on Tuesday of "acts" of terrorism by blowing two railway bridges up in Russia at the weekend. The explosion of a highway overpass in Russia was a...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Headlines - KKR feared a political risk in the Thames Water Rescue deal UK Serious Fraud Office investigates company who sold solar farms Thurrock Council British Industry Exempted From Trump's Doubling of Steel Tariffs Rachel Reeves, British Finance Minister, will support the Manchester-Liverpool railway link as part of a boost to transport spending Andrew Bailey, Governor of the Bank of England defends UK rules on ringfencing for lenders View the full article Thames Water...

Russian authorities announced early Sunday that at least seven people had died and 30 others were hospitalized after "illegal intervention" caused a collapsed bridge and train derailment in the Bryansk region of Russia, which borders Ukraine. Russian Railways announced on Telegram that the train's locomotive, along with several cars, had derailed due to "the collapse of a span-structure of the road bridge in response to an illegal interference with the operation of transportation." Alexander Bogomaz said that two children, including one in a critical condition, were hospitalized. The state-run Russian news agencies cited medics to report that the driver of...

The U.S. Supreme Court gave a blow to environmentalists by allowing federal agencies the ability to limit their review of the environmental impact on projects that they regulate. However, the justices supported a Utah railroad project designed to transport crude oil. The 8-0 decision overturned an earlier court ruling that had stopped the project. It had also faulted a Surface Transportation Board environmental impact report issued by the federal agency in its approval of the railway for being too limited in scope. Environmentalists and the Colorado County challenged the project. Four other conservative justices joined the ruling, written by conservative...

The U.S. Supreme Court on Thursday upheld a Utah railroad project that was intended to transport crude oils, ruling against environmentalists and a Colorado County who had challenged the federal approval. The 8-0 decision overturned a lower courts' decision which had stopped the project. It had also faulted a Surface Transportation Board environmental impact report issued by the federal agency in approval of the railway for being too limited in scope. A coalition of seven Utah Counties and an Infrastructure Investment Group are seeking to build an 88-mile-long (142-km-long) railway line to connect the sparsely-populated Uinta basin region to an...

The Trump Administration announced on Wednesday that it had agreed to stop the U.S. Transportation Department from considering race or gender in awarding federal highway and transportation project funding for small businesses. In September, a judge in Kentucky ruled a federal program enacted by the U.S. government in 1983 that treated businesses owned and operated by racial and ethnic minorities as presumptively disadvantaged in order to qualify for funding was in violation of the U.S. Constitution’s equal protection guarantee. In a court document, the Transportation department stated that "the program's use of presumptions based on race and gender is unconstitutional."...

FedEx Freight, the company that specializes in freight trucking, announced on Monday that it had appointed John Smith as its CEO. Smith has worked for the company more than 25 year as the chief operating office of its U.S.A. and Canada businesses. Between 2018 and 2021, he was the CEO of FedEx Freight and was responsible for the growth in revenue and operating income. He also guided the company through the pandemic. In December 2024, the company announced its first separation of its trucking freight segment. It restructured in order to provide a more customized execution on the global parcel...

New Jersey Transit will resume its trains on Tuesday, after reaching a tentative agreement on Sunday with the striking rail engineers over wage increases. This ends a three-day strike that left tens and thousands of commuters in New York scrambling for alternative transportation. Just after midnight, on Thursday, NJ Transit began its first statewide rail-strike in over 40 years. It is the third largest transit system in America, providing more than 700,000.00 passenger trips per day, on average, across its light rail, train and bus lines. In the beginning, the Brotherhood of Locomotive Engineers and Trainmen (BLET), which represents 450...

New Jersey Transit will resume its trains on Monday, after reaching a wage agreement with the striking rail engineers, said the engineers' union on Sunday. The deal ended a work stoppage which had affected approximately 350,000 passengers. The strike was the first NJ Transit strike in over 40 years. It began just after midnight Thursday. Tens of thousands commuters were left scrambling for alternate transportation to New York. The Brotherhood of Locomotive Engineers and Trainmen (BLET), which represents 450 NJ Transit commuter train engineers, announced that it had reached a pay agreement with the agency over the weekend and that...

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...

According to an agreement reviewed by, China and Vietnam agreed to begin feasibility studies on two new lines during Chinese President Xi Jinping’s visit to Hanoi last week. Both neighbours have been talking about upgrading two railways built by France more than 100 years ago and developing a third direct connection along their adjacent coast. In response to growing concern over U.S. Tariffs, Xi urged Vietnam Monday to strengthen its supply chains. Components made in China are often assembled before they are exported in the north of Vietnam. To Lam, Vietnam's top leader, said that the construction of three railways...

On Wednesday, U.S. president Donald Trump signed an Executive Order aimed at revitalizing U.S. Shipbuilding and reducing China’s grip on global shipping. For years, Republican and Democratic U.S. legislators have warned of China's increasing dominance in the seas as well as the diminishing U.S. navy readiness. The order instructs the U.S. trade representative to proceed with a plan, which includes charging U.S. docking fees for any ship in a fleet of vessels that are Chinese-built or Chinese flagged. Allies will also be encouraged to follow suit. The Department of Homeland Security is also required to enforce the collection of Harbor...

Six sources claim that the Trump administration may soften its proposed fee for China-linked vessels visiting U.S. port after receiving a lot of negative feedback. The industries said it could be financially devastating. Six sources familiar with the issue said that the six changes being considered include a delayed implementation as well as new fee structures aimed at reducing the cost of visiting Chinese vessels. Sources asked to remain anonymous due to the sensitive nature of the subject. The White House, and the Office of the U.S. Trade Representative(USTR), the government agency involved in the draft of the proposal, have...

Scientists said that a strip of Pacific Ocean seabed, which was mined more than 40 year ago for metals, has not recovered. This adds weight to the calls for a ban on all deep-sea mining during this week's U.N. led talks. Scientists from the National Oceanography Centre in Britain led a 2023 expedition by a team to the mineral rich Clarion Clipperton Zone. They found that the effects of a 1979 mining test experiment are still felt on the seafloor. This complex ecosystem hosts hundreds of species. According to a study published in Nature Journal, the collection of "polymetallic" nodules...

Eneos Japan, the largest oil refiner in Japan, announced on Tuesday it would gradually stop production of lubricants, and certain petroleum products, at its Yokohama facility near Tokyo, by March 2028. However, they will look into moving lubricants to other facilities. In a press release, the company stated that the decision was made after a thorough review of the refining landscape and the marketing landscape. This included a structural decline in the domestic demand for petroleum and the intensifying competition in Asia. Eneos Holdings' Eneos unit said: "We have determined that it is urgent to restructure our production and supply...

China Civil Engineering Construction Corporation will invest $1.4billion via a 30 year concession to upgrade Tanzania-Zambia Railway, said the line's operator on Thursday. The competition for Africa's vital minerals is heating up. TAZARA is the initials of the railway that is used to identify it as a major route for exporting copper from central Africa. It offers a way around South Africa's logistical bottlenecks which have caused a slowdown in copper and cobalt. In a press release, Bruno Ching'andu said that the decision to grant the concession was based on an evaluation of TAZARA’s challenges throughout the years. This required...

According to a review of an arbitration file, a unit of China’s state-owned Power Construction Corp of China has sued Laos Utility Electricite du Laos in Singapore for $555 million of unpaid dues relating to. The claim is based on the electricity generated by PowerChina's Nam Ou Power unit, which operates the $2.73 billion Nam Ou River Cascade hydropower project. It has a capacity to generate 1.27 gigawatts of power from seven cascades that are located along 350 km of river in Southeast Asia. The Nam Ou Project is one of Laos’ largest projects, representing 7% of its 18 GW...

Anglo American South Africa's iron ore business is looking for private investors to operate a rail route that is vital to shipments of steelmaking ingredient to international markets. Transnet, the struggling state-owned company, owns and operates a 861 km (535 miles) rail line that runs from Kumba Iron Ore’s Sishen Mine in South Africa’s Northern Cape Province to Saldanha Port. Mpumi Zikalala, CEO of Kumba, stated that the line is plagued by derailments, and Transnet’s "constraints" on its balance sheet mean it cannot run the line effectively. Kumba, Africa’s largest iron ore producer, has reduced production after stocks rose to...

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...