Passenger Ground & Sea Transportation

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...

Here are the top business stories from the New York Times for October 2. These stories have not been verified and we cannot vouch for the accuracy of these reports. Snapchat, a social media platform, announced that it would start charging its users to store photos and videos in the Memories section of its app once they have exceeded five gigabytes. The Trump administration announced Wednesday that they would not be releasing the $18 billion federal funds awarded to New York City in previous years for two of its largest infrastructure projects, the Hudson Tunnel as well as the Second...

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 The safety board stated that the design and maintenance practices of the agency and their railcars are outdated and pose "an immediate and unacceptable risk due to the severity and frequency of electrical fires which can spread into occupied compartments."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...

White House Budget Chief said Wednesday that the federal government withholds $18 billion from the Hudson Tunnel Reconstruction Project and Second Avenue Subway - two of New York City’s largest construction projects. The hold was announced just hours after the partial shutdown of the government began. It is the latest attempt to put pressure on Democrats in Congress regarding the shutdown. Chuck Schumer, the Senate Democratic Leader from New York State has been an avid supporter of both projects. He is also leading Democratic opposition against President Donald Trump’s plan to continue funding by government. Russ Vought, director of the...

Letitia James, New York's Attorney General, filed an emergency motion and a lawsuit on Tuesday seeking a temporary injunction against U.S. Homeland Security Secretary Kristi Noem as well as the Department. She accused them of illegally refusing to provide nearly $34 millions of funding requested by New York State's Metropolitan Transportation Authority. The MTA is a state-run agency that runs New York City's buses and subways, as well commuter rails that serve the nearby suburbs. James filed a lawsuit in late Tuesday at the U.S. District Court of the Southern District of New York to seek an emergency order before...

Hertz Global, a car rental company, announced on Tuesday that it has launched an online marketplace for buying used cars. After the news, shares of the company rose by as much as 2,5%. Hertz announced the announcement following its collaboration with Amazon.com Automotive Retail Platform, Amazon Autos to sell used vehicles. The company also said that it would offer customers the option of trade-ins. Hertz is facing a sluggish rental market, which has led it to abandon a large portion of its electric vehicle fleet and replace them with gas-powered vehicles over the last few years. Last year, the company...

LA28 announced on Monday that Highland Electric Fleets will be the official electric bus provider of the 2028 Olympic Games and Paralympic Games. This partnership will see 500 zero-emission school buses deployed to support transport operations. LA28 will repurpose yellow school buses that are already in use to transport accredited stakeholders to the Games. This approach, say the organizers, will reduce emissions and costs. Highland will be joining the LA28 Transport team to run a program that the partners have described as the first of its kind for electric school buses at the Games. The company will be responsible for...

A group of U.S. Democratic legislators on Monday called on the Federal Communications Commission chairman to withdraw plans to stop government subsidies for wireless technology on school buses, which were originally created as part of a COVID era program. The lawmakers, led by Senator Ed Markey, noted that the FCC had allocated $48 million in its budget for 2024 to fund Wi-Fi for buses. More than 8,000 libraries and schools have also requested tens or millions of dollars to provide more than 200 hotspots for students and teachers. The letter, signed by over 50 Democratic legislators, including Senators Ron Wyden...

After a fatal accident in Florida and an audit by the government, the U.S. Transportation Department announced Friday that it would issue an emergency regulation restricting commercial driver's licenses for non-U.S. nationals. Non-citizens won't be eligible for a driver's license unless they comply with new rules, such as an employment-based Visa, and submit to a federally mandated immigration status check. Sean Duffy, Transportation Secretary, is also taking enforcement action against California to stop it from issuing commercial driver's licenses to foreigners. Duffy stated that "licenses for dangerous foreign drivers to operate an 80,000-pound vehicle are often issued illegally." A spokesperson...

The state transportation department approved Tesla to begin testing autonomous robotaxis with a safety monitor on Friday. The Arizona Department of Transportation stated in an email that Tesla applied for a permit in June to start trials for an autonomous ride-sharing service. It now plans to test roboticaxis using safety drivers in the Phoenix Metro Area. Tesla has not responded to our request for comment. It wasn't immediately clear when or for how long the trials would take place. Tesla's Chief Executive Elon M Musk stated previously that Tesla planned to launch an automated ride-hailing services to approximately half of...

The Trump administration announced late Friday that it had reached a deal with the federal government to regain control of Washington Union Station, located in the nation’s capital. The U.S. Department of Transportation, President Donald Trump’s latest initiative to increase federal control, announced last month that it would reclaim the management of Washington's Union Station. It is one of the nation's largest rail hubs. The federal government will assume control of Union Station under a new agreement signed by Amtrak and the Federal Railroad Administration. The FRA stated that "regaining control of the station will allow Amtrak the freedom to...

The Trump administration announced on Friday that it could withhold federal funding from Boston and Chicago, if those cities do not take further steps to ensure the safety and security of transit workers and subway and bus passengers. The U.S. Transportation Department sent letters to the Massachusetts Bay Transportation Authority and Chicago Transit Authority, requesting that they respond within two weeks to incidents in which passengers were injured. Sean Duffy, the Transportation Secretary, said last month that he could withhold as much as 25% of New York City federal funding if they did not improve safety among subway workers. Duffy...

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. Tesla unveiled on Tuesday new versions of two of its most popular models: Model Y, and Model 3. These will be sold for $40,000 each and $37,000 separately. A Los Angeles jury on Monday ordered Johnson & Johnson to pay $966 Million to the family a California woman, who died of a rare cancer. The company had been found liable after a lawsuit claiming that its baby powder products caused cancer....

China's National Railway recorded 23,13 million trips during the first day the eight-day National Day Holiday on Wednesday. This is up almost 8% over a year ago and a record for a single day, according to state media CCTV. CCTV reported that more than 19 million trips would be made Thursday on the rail network. According to CCTV, the Yangtze River Delta Railway was expected to handle 4 million passengers. This is a 10% increase over last year. After the official end of the holiday on October 8, the Ministry of Culture and Tourism will release total travel data. On...

Two Chinese firms announced on Saturday that they would partner with local companies to launch robotaxi service in Singapore as the city-state expands its autonomous driving. Grab, a ride-hailing service operator in China, announced that it will partner with WeRide next year to launch services. Pony.ai, ComfortDelGro and others said they would be partnering for similar services. They were waiting on regulatory approval. Grab announced in a press release that it had been chosen by the local authorities to run two autonomous shuttle services in the Punggol region. WeRide will start taking passengers in five- and eight seater vehicles from...

A Manhattan federal judge is expected to approve the $740 million settlement DiDi Global reached with a lawsuit alleging it defrauded its investors in connection with their initial public offering in mid-October. The class action lawsuit accused DiDi, of hiding and disobeying a Chinese Government order to delay its June 2021 IPO. This raised more than $4 billion and valued DiDi around $67.5 billion. In July 2021, shares of DiDi fell as China's Cyberspace Administration of China banned the company from accepting new customers. They also ordered the removal of DiDi Travel from app stores for smartphones. In July, the...

Saudi Arabia's nearly $1 trillion sovereign wealth funds sold their stakes in several U.S. listed companies, including Meta, Shopify, and PayPal, in the second quarter. Securities filings published on Thursday confirm this. The 13F filings also show that the Public Investment Fund sold its stakes at Nu Holdings, FedEx and Alibaba Group during a period when U.S. stocks recovered from a drop in April tied to U.S. Tariff policies. The filings revealed that PIF had no shares remaining in Meta, Shopify PayPal, Alibaba Nu Holdings, FedEx, or Nu Holdings. The fund's last filing revealed that at the end March it...

Six people including a former Minister were arrested Friday for their involvement in the reconstruction of a train station whose roof collapsed in November, killing 16 people and triggering Serbia’s largest anti-government demonstrations in decades. Tomislav Mojii, the former minister of infrastructure, was arrested by the office of prosecutor for organized crime. The six men are suspected of inflating the invoices of a consortium consisting of two Chinese companies, China Railway International Co. and China Communications Construction Co. who were tasked with reconstructing the Novi Sad railway station and its tracks. The statement stated that the Chinese consortium was able...

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...

The S&P 500, Nasdaq, and Nvidia all closed at record highs Thursday. Nvidia's value was also above $4 trillion, while the Brazilian Real recovered some of its losses after U.S. president Donald Trump announced a 50% tariff against the country's products. Delta Air Lines' shares also soared 12%, after the company forecasted profits for both the third quarter and full year above analyst estimates. United Airlines ended the day 14.3% higher and Hertz Global was up 11.8%. Shares Nvidia ended up 0.75% at $164.10, giving the chipmaker a market value of $4.004 trillion, thanks to surging demand for artificial-intelligence. This...

Pasifik Eurasia Lojistik announced that it had signed a railway transportation agreement with a subsidiary China Railway for the launch of cargo train services on a corridor connecting China to Europe via Turkey, bypassing Russia. The initial plan is to operate 10 train services, and eventually 1,000. It is anticipated that the Middle Corridor will see a significant increase in freight volume thanks to the partnership with China's state-owned railway logistics company. The Middle Corridor, a China-Europe freight route that is promoted by the West, includes Kazakhstan, Azerbaijan and Georgia, as well as Turkey. Fatih Erdogan, Chairman of Pasifik Holding's...

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...

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...