Passenger Transportation

Passenger Transportation Services

Magnitude-5.3 earthquake strikes Tokyo after Japan issued megaquake advisory

A magnitude5.3 earthquake hit Tokyo and eastern parts of Japan on Friday evening, the government stated, a day after it released the firstever advisory about the threat of a substantial earthquake in the west of the country. Although damage to the areas closest to the epicentre was not instantly clear, Prime Minister Fumio Kishida said the federal government had actually not gotten any reports of significant damage, speaking at his Tokyo workplace quickly after the quake. The quake's epicentre remained in the Kanagawa prefecture south next to the capital, at a depth of 10 km (6.2 miles), Japan Meteorological Firm...

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...

Passenger Transportation

UK's Mobico initiates sale process of N.America bus unit to trim debt

British transportation business Mobico published on Wednesday a 28.1% dive in its firsthalf profit, and said it has started the sale process for its North American school bus company in an attempt to cut financial obligation. The Birmingham-based company, which altered its name from National Express to Mobico in 2015, stated it will release brand-new debt-reduction initiatives in the 2nd half of 2024. The bus unit produced 1.12 billion pounds ($ 1.46 billion). in income in 2023, while the group's net debt at the end of. June stood at 1.24 billion pounds. In 2015, Mobico suspended its dividend and chose...

Passenger Transportation Services

Porsche Holding in group taking stake in Greyhound owner Flix

Porsche Automobil Holding SE stated on Monday it belongs to an investor group that is taking a 35% stake in Flix SE, owner of Greyhound services in The United States and Canada and FlixBus in Europe. Porsche, which manages German carmaker Volkswagen , said it was co-investing with personal equity firm EQT and financier Klaus-Michael Kuehne, among others, which its stake in Flix SE deserved a low double-digit million euros. EQT in July announced the joint investment of a 35% stake in Flix, at the time divulging Kuehne as co-investor however not Porsche. A person familiar with the offer told...

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...