Passenger Ground & Sea Transportation

A partial federal government shutdown could cost the U.S. travel industry $1 billion weekly and cause widespread disturbances for travelers, a trade group representing airline companies, hotels and other travel business stated on Friday. An extended government shutdown threatens holiday travel disturbances that Americans won't endure, stated U.S. Travel Association CEO Geoff Freeman. On Thursday, the head of the Transport Security Administration alerted an extended partial U.S. government shutdown could result in longer wait times at airports. TSA expects to evaluate a record 40 million guests over the vacations after setting records over the Thanksgiving vacation. Fitch Scores said on...

Martin Midstream Partners said on Wednesday that proxy advisory firm Glass Lewis has advised the energy infrastructure firm's unitholders to vote for the business's proposed buyout deal with Martin Resource Management Corp. . The statement of the Glass Lewis report comes days after Martin Midstream had actually stated that another proxy advisory company Institutional Investor Provider (ISS) had also suggested a. favorable vote for the deal. However, 2 hedge funds Nut Tree Capital Management and. Caspian Capital, holding 13.6% of Martin Midstream, are. promoting a competing bid and urging investors to vote against. the deal. The two hedge funds have...

The following are the leading stories in the Financial Times. Reuters has actually not validated these stories, and does not vouch for their accuracy. Headings - South Western Railway set to be very first train operator nationalised by Labour - Mastercard reaches contract in UK to settle claims of overcharging on fees - British Steel nationalisation one alternative in search for rescue, admits government - UK auditors refuse to sign off Tees Valley regeneration project's accounts Overview - South Western Railway will be the first train operator in Britain to be renationalised under strategies by the Labour government to fix...

U.S. passenger railroad Amtrak said on Tuesday ridership topped 2019 preCOVID levels for the very first time in 2024 and reached a record high even with less capability. Ridership increased 15% over 2023 to a record 32.8 million customer trips, as traveler income hit $2.5 billion, up 9%. over the prior year, while total operating profits was $3.6. billion, up 7%. Amtrak reported an adjusted operating loss of. $ 705 million for the 12 months ending Sept. 30, down 9% over. 2023. Amtrak's prior record was 32.3 million travelers in 2019,. which was up 45% from 2003. Amtrak in March...

Uber released a water transport hailing service on beautiful Dal Lake in India's Kashmir region on Monday, providing trips on boats popular with travelers. Users of the service can book journeys on the lake's. traditional wood Shikara boats if they book at. least 12 hours and up to 15 days in advance, Uber officials. stated. The ride-hailing app currently provides water transport services. in London and some other cities however this is its first in India. Around 4,000 Shikaras, often ornately decorated and. canopied, run on Dal Lake and are popular among locals as. well as travelers. Uber will match...

Americans are anticipated to set a new record for Thanksgiving travel, with almost 80 million to hit the roadways, catch flights and board cruises over the vacation duration, travel group AAA stated on Monday. About 1.7 million more individuals will travel this year from Tuesday, Nov. 26 to Monday, Dec. 2, compared to a comparable duration in 2023. Although staffing and aircraft scarcities have actually topped the airline company market's ability to increase capability throughout the vacations in previous years, a record number of Americans are expected to fly to their locations this year. American Airlines prepares to shuttle 8.3...

Estonian ridehailing and food shipment startup Bolt said on Thursday it had actually hit 2 billion euros ($ 2.11 billion) in yearly income, as the European competitor of U.S.based Uber grows its global presence and prepares to go public. The business stated in a statement its app has reached over 50 nations and is the No. 1 operator in more than 20 of them, having expanded its offering to ride-hailing, scooter and e-bike rental, food and grocery delivery and automobile sharing. Its home country of Estonia is one of Europe's biggest tech hubs, real estate over 1,450 startups according to...

The ePlane Business, an Indian electric air taxi startup, has actually raised $14 million as it sets its sights on starting manned air taxi testing by mid2025, it stated on Thursday. The funds will be used for the development and certification of its manned electric vertical launch and landing (eVTOL). airplane, ePlane, which raised the money in a Series B financing. round, co-led by Speciale Invest and Antares Ventures, according. to a statement. The fundraise provides the Chennai-based firm a post-money. appraisal of $46 million, up from $21.2 million in December. 2021. So far, it has raised $19.85 million. eVTOLs...

New York Guv Kathy Hochul will reveal on Thursday that the state prepares to restore a blockage charge for driving in parts of Manhattan that she indefinitely put on hold in June, a source informed Reuters. New york city City's blockage pricing program, the first of its kind in the U.S., was at first to have charged a toll of $15. throughout daytime hours for guest vehicles driving in Manhattan. south of 60th Street beginning June 30. Hochul prepares to reveal a modified program that is anticipated. to have a base charge of $9 for automobile, the source said. The...

U.S. traveler railway Amtrak stated Wednesday it was temporarily suspending all train service between New york city and Washington due to the fact that of overhead power concerns in Philadelphia, disrupting the travel plans of countless riders. Amtrak said the suspension because of downed overhead wires blocking the tracks would last till around 3 p.m. ET and trains in service will hold at a station up until service resumes. Amtrak has actually faced numerous major service interruptions in the last six months in New Jersey. Amtrak and NJ Transit stated in August they had actually increased evaluation, assessment and maintenance...

Rental automobile company Hertz Global reported a widerthanexpected thirdquarter loss and missed income estimates on Tuesday, harmed by high depreciation charges from its fleet automobiles, sending its shares down more than 4%. The business tape-recorded a $1 billion property impairment charge throughout the quarter, citing a decrease in fleet worths over the in 2015 following a general decline in automobile costs as consumers delay large purchases in an unsure economy. Previously this year, the company stated it would slim down its car inventory, with a sale of about 30,000 electrical automobiles consisting of Tesla vehicles, mentioning greater repair costs associated...

Hertz Global reported a. widerthanexpected thirdquarter loss and missed out on earnings. price quotes on Tuesday, injured by depreciation charges from its. fleet automobiles, sending shares of the rental automobile company down more. than 8% in premarket trading. Hertz tape-recorded a $1 billion possession problems charge during. the quarter, pointing out a decline in fleet residual worths, which. describes an automobile's disposal rate at the end of its operating. period, over the last year. Previously this year, the company started a sale of about. 20,000 of its electric automobiles consisting of from Tesla,. pointing out higher repair expenses associated with...

Japan's Nikkei share average touched its highest in more than one week on Monday, as financiers bought stocks anticipating the U.S. economy to stay strong. The Nikkei reached 39,053.64, hitting its greatest given that Nov. 15, before ending the early morning session 1.53% greater at 38,868.68. The more comprehensive Topix was up 1.02% to 2,747.14. Abroad factors are essential for Japanese stocks now as we have actually not seen much market moving catalysts within Japan, said Fumio Matsumoto, chief strategist at Okasan Securities. Wall Street closed greater on Friday, with all 3 major indexes posting weekly gains, as financiers basked...

Self-driving firm WeRide notched an appraisal of $ 4.21 billion after raising $120 million in its U.S. initial public offering (IPO) on Friday, ending up being the latest Chinese company to capitalize on reducing regulatory hurdles to list in New York. The company offered 7.7 million American depositary shares in the offering at $15.50 a piece, the lower end of its targeted range of $15.50 to $18.50 per ADS. It likewise raised around $320.5 million in a concurrent personal positioning. WeRide anticipates to raise an overall of $458.5 million from both the IPO and the personal placement. The Chinese firm,...

Tokyo City saw its stock untraded on its Tokyo market launching on Wednesday with a. excess of buy orders in early trade. Tokyo Metro, one of the capital's 2 major train. operators, raised $2.3 billion after pricing its initial public. offering at the top of an indicative variety at 1,200 yen apiece. The IPO was more than 15 times oversubscribed, Reuters has. reported, with financiers drawn to a family name with an. appealing dividend yield. The listing of a big company familiar to individual. financiers has a large benefit in widening the investor base,. Toshio Morita, CEO of the Japan...

Tokyo City is anticipated to raise 348.6 billion yen ($ 2.3 billion) after rates its initial public offering at the top end of its variety, according to 2 sources familiar with the matter, in the largest IPO in Japan for 6 years. The IPO was more than 15 times oversubscribed, stated the sources, with the firm's dividend yield seen as an appealing proposition by many including retail investors drawn to a. home name. The business has priced the shares at 1,200 yen apiece,. compared to a series of 1,100 to 1,200 yen, according to the. sources, who decreased to be...

Tokyo Metro is expected to raise 348.6 billion yen ($ 2.3 billion) after pricing its going public at the top end of its range, according to two sources knowledgeable about the matter, in the biggest IPO in Japan for 6 years. The company has actually priced the shares at 1,200 yen each, compared to a series of 1,100 to 1,200 yen, said the sources, who declined to be called as the info is not public. Tokyo Metro declined to comment. One of Tokyo's two major subway operators, the company is set to announce the rates later Tuesday and list on...

Japan Xray screening tool maker Rigaku set a tentative going public (IPO) price range of 1,230 to 1,260 yen ($ 8.48) per share versus a preliminary quote of 1,230 yen, a regulative filing showed on Wednesday. At the top of the range, Rigaku, which is backed by buyout company Carlyle Group, would raise approximately 129 billion yen ($ 870 million), consisting of an overallotment. Rigaku's final IPO rate will be selected Oct. 17, before the Tokyo Stock market listing on Oct. 25. Japan's stock exchange suffered a selloff in early August, sparked by a surprise rate of interest walking and...

Subway operator Tokyo Metro said on Friday it prepares to note on the Tokyo Stock Exchange on Oct. 23, setting the phase for what would be Japan's biggest initial public offering (IPO) in about six years. At Tokyo City's a sign price of 1,100 yen per share, 319.55 billion yen ($ 2.25 billion) worth of shares will be used. Tokyo City's history go back to 1920 with the facility of the Tokyo Underground Railway Business. Seven years later, it opened Japan's very first subway line, between the Asakusa and Ueno districts of Tokyo. Individually, Rigaku, a maker of X-ray screening...

Malaysia's Sultan Ibrahim will visit China for a fourday visit, China's foreign ministry said on Wednesday, with the ceremonial ruler from the southern state of Johor most likely to seek assistance to revive jobs improving its connectivity to neighbouring Singapore. Sultan Ibrahim was installed as the country's 17th king in January, under a special system of monarchy where the heads of Malaysia's 9 royal families take turns to be the king every 5 years, and are expected to stay above politics. However the 65 year-old has actually suggested he means to weigh in on the nation's political issues , and...

Eleven people were killed in China's eastern Shandong province on Tuesday after a school bus lost control at a hectic pedestrian junction, broadcaster CCTV reported, with disturbing video revealing bodies resting on the road and caught under the automobile. 6 parents and 5 children were killed in the incident while one remained in crucial condition. More than 2 dozen were injured, CCTV said. Dongping Cops Department stated in a statement on WeChat that a car getting students lost control at a junction in Dongping County, Shandong on Tuesday morning. The accident is under examination, it added. In July, an automobile...

Japan's national and Tokyo governments are seeking a 700 billion yen ($ 4.7 billion). assessment for Tokyo City as they prepare to list the subway. operator as early as Octoberend, 3 sources stated, in what. would be the nation's most significant IPO in approximately 6 years. The two federal governments, which own 100% of Tokyo Metro, plan to. set up a conference of brokerages within a week for an instruction on. the IPO and anticipate to receive approval for the listing from the. Tokyo Stock Exchange as soon as mid-September, the sources. said. With half the company to be offered,...

Japan's nationwide and Tokyo federal governments are seeking a 700 billion yen ($ 4.7 billion). valuation for Tokyo Metro as they prepare to note the subway. operator as early as Octoberend, three sources stated, in what. would be the country's biggest IPO in approximately six years. The two governments, which own 100% of Tokyo City, plan to. set up a meeting of brokerages within a week for a rundown on. the IPO and anticipate to receive approval for the listing from the. Tokyo Stock Exchange as soon as mid-September, the sources stated. With half the business to be sold, the...

Rail links will be high on the agenda when Vietnam's recently designated leader To Lam travels to China to satisfy President Xi Jinping next week, authorities stated, as the neighbours seek to boost trade. Smooth rail links are viewed as essential for supply chains, as a growing variety of Chinese producers move some export-oriented operations to Vietnam in the middle of trade stress between China and the United States. The countries are connected by 2 railways from Southern China to Vietnam's capital Hanoi and its northern commercial hub, but the Vietnamese infrastructure dates back to French colonisation and has a...