Passenger Transportation

Passenger Ground & Sea Transportation

As the US invests in critical minerals, Washington lobbying is boosted by these firms.

A review of public documents and interviews with executives revealed that critical mineral companies have increased their lobbying efforts to Washington in order to benefit from the ambitious investments made by U.S. president Donald Trump to firms considered essential to national safety. The review revealed that at least 12 companies, including those in the lithium, copper and rare earths industries, as well as geothermal, have signed agreements with Washington lobbying firms. Influence campaigns have increased dramatically in recent years to secure federal investment, permit support and long-term contract guarantees. The White House is shifting its focus from the traditional emphasis...

Asia

North America

Passenger Ground & Sea Transportation

New Jersey Rail System Strike Strands New York bound commuters

New Jersey rail engineers left their jobs on Friday, after marathon contract negotiations stalled before a midnight deadline. This triggered a strike in a transit system which serves hundreds of thousands commuters to New York City. The commuter train strike, the first since a three week walkout in more than forty years, went into effect on January 1, 12:01 am EDT (0401 GMT). The Brotherhood of Locomotive Engineers and Trainmen (BLET), which represents 450 NJ Transit commuter train engineers, reported that a 15-hour nonstop bargaining session ended when negotiators from the management walked out of Thursday's talks at 10 pm....

Passenger Ground & Sea Transportation

Cargill and LDC among the winners of Brazil's port auction

Cargill and BTG Pactual Commodities, as well as a consortium consisting of Louis Dreyfus, Brazilian grain trader Amaggi and the Louis Dreyfus Group have been awarded rights to operate 3 terminals in Paranagua Port on Wednesday. The competitive auction that involved multiple bidders highlights the importance to improve Brazilian logistics within the context of the global trader's war. The companies bid a total of 855 million reais (about 151 million dollars) at an auction held by the Sao Paulo Stock Exchange for the right to operate three different Paranagua zones for 35 years. Global grain traders are preparing to meet...

Passenger Transportation

Amazon's soy shipping route to Brazil is disrupted by protests and poor roads

The poor road conditions and protests by indigenous groups have caused the shipment of Brazil's bumper soya bean crop to be delayed this week at the port of Miritituba, in the Amazon rainforest. This is where major grain traders such as Cargill and Bunge operate. The demand for soy, which is produced and exported by Brazil, the largest producer in the world, has risen dramatically. China is the world's No. 1 soybean consumer, as traders prepare for a potential trade war that could discourage Chinese imports. Miritituba loaded 15 million tons soy and corn onto barges last year, bound for...

Passenger Transportation Services

Martin Midstream states Glass Lewis backs buyout deal with Martin Resource

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...

Passenger Transportation

Financial Times - Oct 24

The following are the leading stories in the Financial Times. Reuters has actually not validated these stories and does not guarantee their accuracy. Headings - Addison Lee to be bought by Singapore-listed group in 269 mln pounds deal - UK ministers explore utilizing break stipulations in asylum real estate agreements - Arm cancels Qualcomm's chip design licence amidst legal dispute - UK competition regulator to probe investment barriers - Intesa Sanpaolo unveils plans to cut 9000 tasks Overview - Addison Lee, the UK-based private-hire taxi and carrier business, has actually accepted be purchased by Singapore-listed transportation conglomerate ComfortDelGro in an...

Passenger Transportation Services

Martin Midstream buyout faces opposition from hedge funds Nut Tree and Caspian Capital

Hedge funds Nut Tree Capital Management and Caspian Capital are planning to oppose the takeover of Martin Midstream Partners by the company's largest shareholder, according to a joint statement from the funds. The hedge funds, that made a competing quote to buy Martin Midstream for $4.50 per system in July, have actually argued that Martin Resource Management Corporation's $157 million deal to buy Martin Midstream undervalues the fuels storage and transporter and raises concerns over disputes of interest. MRMC and Martin Midstream did not right away react to requests for remark. Earlier in October, MRMC accepted buy the common units...

Passenger Transportation Services

China's drivers stress as robotaxis pick up speed - and guests

Liu Yi is among China's 7 million ridehailing chauffeurs. A 36yearold Wuhan citizen, he started driving parttime this year when construction work slowed in the face of an across the country excess of unsold houses. Now he forecasts another crisis as he stands beside his car seeing neighbours order driverless taxis. Everybody will go starving, he said of Wuhan motorists competing versus robotaxis from Apollo Go, a subsidiary of innovation huge Baidu. Baidu and the Ministry of Industry and Info Technology declined comment. Ride-hailing and cab driver are among the first workers globally to face the threat of task loss...

Europe

Passenger Transportation Services

London commuters switch to boats and bikes as Tube strike enters its second week

Commuters used buses, boats and bikes to get around London on Tuesday after a strike by staff shut down the "Tube", London's underground network. Londoners were looking for other ways to commute to work. As a result, the demand for river and shared bike transport increased. This led to longer journeys, and congestion on other transport networks. The London-based Centre for Economics and Business Research estimated that the strike would have a direct cost of 230 millions pounds ($310) on the London economy, and many more indirect costs. Lime, a company that operates electric bikes in the city, reported a...

Transportation

London's Tube system shuts down as workers start a week-long strike

London's Underground rail network halted on Monday, as workers began a strike over pay and conditions of employment. This caused travel disruptions for both commuters and tourists. The underground rail network is expected to be shut down until Thursday. This means that the 3.7 million people who use it daily will have to work from home or find other ways to travel. Forest, which operates 15 000 e-bikes throughout London, reported that it was experiencing four times the demand for its ebikes at 9 am. Some commuters opted for buses or the few remaining train lines, but most reported longer...

Passenger Transportation

London's Tube system shuts down as workers start a week-long strike

London's Tube system came to a halt on Monday, as workers began a strike over pay and conditions of work. This caused commuters and visitors to the British capital great inconvenience. Between Monday and Thursday, there are not expected to be any London Underground trains. The Docklands Light Railway that connects Canary Wharf with the City of London will also not operate on Tuesday or Thursday. Many Londoners chose to cycle to work and others took detours on Monday morning. Laura Sutton, 46 a legal adviser, was at London Bridge Station. She said, "The prospect of having to wait all...

Western Europe

East Asia

Passenger Ground & Sea Transportation

Saudi Wealth Fund sold its stakes on Meta, Shopify, and PayPal during Q2

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...

Passenger Ground & Sea Transportation

Eneos, a Japanese company, will cease lubricants manufacturing at Yokohama in March 2028

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...

Passenger Ground & Sea Transportation

China's Pony.ai eyes robotaxi services in Hong Kong, joining Baidu

Guangzhoubased Pony.ai Inc. is looking for to release its robotaxi services in Hong. Kong, signing up with Baidu in a race to supply services in. the city, as the self-governing driving firm looks to broaden its. operations internationally. Nasdaq-listed Pony.ai strategies to supply robotaxi travelling. services for airport personnel within Hong Kong International. Airport before broadening into other city locations in the city, the. company stated in a declaration late on Friday. It did not provide a. timespan for the launch. Chinese artificial intelligence giant Baidu is likewise considering. the launch of its driverless taxi service in the city after...

Ground Transportation

Japan's Nikkei touches more than a week high on hopes of strong US economy

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...

Passenger Transportation Services

Japan, Tokyo federal governments target $4.7 bln assessment for Tokyo Metro in IPO, sources state

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,...

Passenger Transportation

Japan, Tokyo governments target $4.7 bln appraisal for Tokyo Metro in IPO, sources state

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...