North America

After a U.S. court of appeals refused to overturn a lower court's order, the commission in charge of the $16 billion Hudson Tunnel Project in New York said it would soon receive $205 million in federal funding that had been frozen. Last week, the funding freeze caused construction to be halted and 1,000 workers were out of work. U.S. district judge Jeannette Vargas issued a preliminary order last week that ordered the federal government release funds to a project that would overhaul critical rail infrastructures in New York and New Jersey, which had been frozen since October 1 by President...

Public Storage, an investment trust in real estate, forecast its core funds from operations for 2026 below Wall Street expectations on Thursday. This was due to a softer demand for their'self-storage' units and the departure of its CEO. The Glendale-based company is expecting core FFO for the full year to be in the range between $16.35 and $17.00 per common share. According to data compiled by LSEG, the midpoint of this forecast is lower than analysts'?average estimates of $16.91 a share. Joe Russell, the president and CEO of Self-Storage World's largest self-storage facility, will also step down on March 31,...

Ryanair warned Thursday that Dublin Airport could be forced to?cut capacity? by more than 15%, and Aer Lingus flight to New York may be stopped after an advisor to Europe's highest court supported the basis for a passenger limit at Ireland's major airport. The Court of Justice of the European Union has suspended the imposition of a 32 million passenger-per-year limit pending its ruling. However, on Thursday Advocate General Campos Sanchez-Bordona of the court indicated that there was no need to overturn the cap. In the next few months, the court will make a decision. It follows non-binding opinions on...

Italian high-speed train operator 'Italo' announced on Thursday that it will introduce SpaceX Starlink across its fleet, becoming the first major train company in the world to use the satellite connectivity service from low-Earth orbit. Elon Musk’s Starlink is gaining popularity among airlines that want to provide Internet access to their passengers. Other rail operators have also begun testing the system, but they are not yet ready to adopt it. Last year, the Italian state railway - Ferrovie dello Stato - ran a trial with two providers including Starlink. ScotRail, a Scottish rail company, also conducted a Starlink six-week trial...

Sources said that the Federal Aviation Administration made the decision to temporarily close El Paso Airport due to safety concerns regarding testing of a laser-based 'counter-drone' technology at nearby U.S. Army Fort Bliss. This was not the first incident where the problem affected flights. The FAA and the U.S. Department of Homeland Security reported that in March, when the U.S. Secret Service tested counter-drone tech near Reagan Washington National Airport, it led to faulty alerts for aircraft potentially close by. Senator Ted Cruz. Cruz, the chair of the Senate Commerce Committee revealed at an hearing last year that the government...

Three sources who are directly familiar with the matter have confirmed that CME Group will approve Taiwan and Hong Kong to be warehouse locations for aluminum. This is as the U.S. commodity exchange intensifies its competition against the London Metal Exchange (LME) Asia. The new locations planned would be a major expansion for CME, as the region accounted last year for two thirds of the global production of metals used in packaging and transportation. CME's Asian warehouse footprint is currently limited to Malaysia, Singapore and South Korea. C. Steinweg and Pacorini Global Services, warehouse operators in Taiwan's port of Kaohsiung...

Bombardier Canada announced on Wednesday that Dubai's Vista Global, a?private jet provider based in Dubai, has placed an order for 40 Challenger 3500 business jets worth $1.18 billion. Bombardier stated that the order includes a?option for an additional 120 aircraft, which would bring a total value of 160 planes to approximately $4.72 billion. The deal is part of a sustained 'demand for private flying', which has swollen the?order books of business jet manufacturers. The Challenger 3500, an upscaled version of Bombardier's Challenger 350 Business Jet that seats up to ten passengers, is a variant of the Challenger 350. Bombardier is...

A court in India has sentenced an Indian journalist to a year's imprisonment for his posts on social media about the Adani Group. The court said that the posts were?unverified, defamatory, and painted the group in a negative light. Adani Enterprises led by billionaire Gautam Adani filed a case against India journalist Ravi Nair at a Gujarat district court in 2021, accusing him for making statements that suggested "political.. patronage... financial irregularities and unethical.. conduct", according to an order.. seen on Tuesday. The court's order stated that "no documentary material, official records, or verified data have been produced" to support...

New York City has sued Extra Space Storage, one of the biggest owners of self storage space in the U.S., for "predatory practices" and bait-and switch pricing. It also accused it of letting its units suffer from vermin, water damage, and mold. The Department of Consumer and Worker Protection of the city accused Extra 'Space of violating false advertisement laws on Tuesday by misleading consumers with low prices for storage units, which it falsely claimed were "clean" and pest-free. According to the lawsuit?Extra Space "dramatically raised" prices shortly after many consumers moved in their belongings, often without prior notice. Some...

The Irish cabinet gave its formal approval on Tuesday for a law that would scrap a cap on passengers at Dublin Airport. This has led to calls from U.S. airlines to restrict Irish airline flights to the United States. Transport Minister Darragh O'Brien wants the law that would give the government power to raise the cap to be passed as soon as possible by the parliament. Local planners have set a 32-million passenger limit for the airport. However, the cap is suspended until the Court of Justice of the European Union rules on the airport's?compliance to EU regulations. Last year,...

Donald Trump, the U.S. president, threatened on Monday to prevent the opening of a new $4.7 billion bridge linking Detroit and Windsor,?Ontario, as his latest salvo in a trade dispute with Canada. Trump cited Canada as the owner of the Gordie Howe International Bridge, Canada's refusal to stock certain U.S. alcoholic drinks on Canadian shelves, Canada’s tariffs on milk products, and its trade negotiations with China. Canada financed the bridge because the U.S. refused. It is expected to open within the next few months. Tolls will cover the costs over a period of 30 years. Trump posted on Twitter: "I...

A proposal document released on Monday showed that the European Union had proposed to extend its sanctions against Russia?to include ports located in Georgia and Indonesia which handle Russian oil. This would be the first time for the bloc to target ports in a third country. The EU proposal was reviewed by and would add Kulevi, in Georgia, and Karimun, in Indonesia, to the list of sanctions, barring EU individuals and companies from transacting with either port. These measures are part of 'EU's 20th package of sanctions over Russia's conflict in Ukraine. The package, which was jointly drafted and presented...

FedEx, a global delivery company, announced on Thursday that its?adjusted? earnings for the current holiday season would exceed Wall Street's median estimate. It also set growth goals through 2029. FedEx announced that its earnings for the third quarter, ending February 28, will surpass analysts' expectations. This announcement was made ahead of its annual Investor Day in Memphis, Tennessee where it is headquartered. FedEx compared the average FactSet estimate of $4.01 for each share. FedEx announced in December that its 'third-quarter adjusted earning per share will fall below the reported $4.82 for the second quarter. The third quarter's earnings, which are...

FedEx, the global delivery company, announced on Thursday that its adjusted earnings for this holiday quarter will exceed Wall Street's average estimates and set growth goals through 2029. FedEx announced that its earnings for the third quarter, ending February 28, will surpass analysts' expectations. This announcement was made ahead of FedEx's annual investor day, which is held in Memphis, its headquarters. FedEx used FactSet’s average estimate of $4.01 for this comparison. FedEx announced in December that its adjusted earnings per share for the third quarter would be lower than the reported $4.82 per shares of the second quarter. The 'third...

Teamsters Union announced on Monday that it has sued United Parcel Service for violating their national contract with the new buyout packages? offered by the delivery giant to drivers. The two agreed to a contract ?deal covering 340,000 Teamsters-represented workers in 2023. The ?deal averted ?a strike at UPS, which has more Teamsters-represented employees than any other U.S. company. UPS announced in January that it would close 24 facilities and cut up to 30 000 jobs as it sought to shift away from millions low-profit deliveries to its largest customer, the online retailer Amazon.com. The union stated that "the scope...

The companies announced on Monday that a consortium led by FedEx investors and InPost investors had agreed to purchase the parcel locker business in a deal worth 7.8 billion euros ($9.2 billion). This will allow InPost to expand its reach throughout Europe, while giving FedEx the opportunity to access the locker network. The 15.60 euro offer price per share is a 17% premium over InPost's Friday closing price, but below InPost 2021 IPO's 16 euros. The Amsterdam-listed shares opened at a 14% increase, trading at highs of May 2025. Hein Pretorius is the chair of InPost’s supervisory board. He told...

These are the most popular stories from the Wall Street Journal. These?stories have not been?verified and we cannot vouch for the accuracy of these stories. A consortium consisting of the U.S. private equity firm Advent International, the logistics company FedEx and investment companies A&R & PPF have agreed to buy Polish parcel delivery provider InPost. The deal is worth $9.22 billion. Innovent Biologics, a Chinese drugmaker, has partnered with Eli Lilly to develop a new treatment that could earn?upwards of $8.5 billion through milestone payments. - Grocery giant Kroger is planning to hire Greg Foran as its new chief executive....

The U.S. The U.S. Postal Service reported on Thursday a "net quarterly loss" of $1.25bn as it continues to face liquidity issues. Operating revenue in the three months ended December 31 was down 1.2% at $22.2 billion compared to 2024 when it had a quarterly profit of $144 million. Officials called for policymakers on Thursday to reform the Postal Service Civil Service Retirement obligation, give USPS greater flexibility in pricing and increase its 15 billion statutory debt limit. David Steiner, Postmaster General of USPS, said on Thursday that the company has formed a team which will review all aspects to...

FedEx announced on Wednesday that it is 'working with Boeing and U.S. aviation safety regulators to bring back to service the MD-11 cargo jets by May 31, after the fatal crash of one of these jets operated by United Parcel Service in November. FedEx said, "We are continuing to work with Boeing to determine any inspections and maintenance required to safely return our MD-11 aircraft to service," referring to the Federal Aviation Administration. UPS announced on Tuesday that it had accelerated a plan to retire its remaining MD-11 cargo jet fleet, which consisted of over two dozen aircraft. UPS announced...

United Parcel Service, the largest package delivery company in the world, announced on Tuesday that it will close 24 additional facilities and eliminate up to 30,000 positions by 2026. This is due to its ongoing shift towards a'more profitable business. In midday trading, shares of the company rose 4%. The company also announced fourth quarter results that exceeded Wall Street expectations and forecasted a surprise increase in annual revenue. FedEx shares gained 2.6%. Carol Tome, CEO of the company, said in a conference with analysts that the company plans to reduce Amazon deliveries. "We are now in the last six...

FedEx announced on Friday it would 'cut up to 500 positions 'and invest a maximum of?78million euros ($91.58million) in a major overhaul of its domestic operations. The company announced that it would reduce the number of stations from 103 to 86, simplify its network and eliminate overlap infrastructure. The U.S. courier firm stated that "the French courier and express transportation market is dominated... by a highly competitive sector... with cost pressures." It added that the overhaul could create over 770 new jobs in full- and part time?operations, with priority given to employees who are already working. FedEx stated that there...

An EU diplomat said that the EU's free-trade agreement with South American nations will likely?be implemented on a temporary basis as early as March. On?Thursday a challenge to the EU's highest court is looming. On Wednesday, EU lawmakers sent the controversial trade agreement between the EU and Brazil, Argentina Paraguay, and Uruguay to the European Court of Justice. This could delay the deal by up to two years. An EU diplomat said that the EU-Mercosur Agreement would be implemented provisionally after the first Mercosur nation ratifies it. The diplomat said that "Paraguay is likely to be the next country in...

The U.S. The U.S. Postal Service announced on Tuesday that it will launch an online platform for 'proposals to access its last-mile network. This would allow a wider range of customers to raise funds by opening up more than '18,000 destination delivery units nationwide and local processing centres to a broader audience. USPS had warned that it would run out of money as early as 2027. U.S. postmaster general David Steiner said last month he hoped Amazon.com, and other major retailers, would bid in the auction. Steiner stated that this could add millions of dollars to USPS's revenue. Amazon didn't...

These are the most popular stories from the Wall Street Journal. These stories have not been?verified and we cannot vouch for their accuracy. Dennis Cinelli, a technology executive who is currently a board member at Paramount Skydance, has been named as the company's next chief financial officer. After a visit to the White House, top officials from Denmark and Greenland stated that they had not convinced U.S. president Donald Trump to give up his plans to annex Greenland. Federal investigators are examining how Boeing has responded to previous failures on McDonnell Douglas aircraft. Alibaba Group is rolling out an update...