Transport Infrastructure

Norfolk Southern reported an increase in its fourth-quarter profits on Thursday, citing a?cost control strategy amid a fluctuating freight demand and persistent macroeconomic pressure. The U.S. Surface Transportation Board sent Union Pacific's $85 billion merger proposal back to the company earlier this month for revision. Surface Transportation Board has deemed that the December merger application is incomplete. Union Pacific CEO Jim Vena, however, said the request was routine and that the deal would still be completed in the first half 2027. Mark George, Norfolk CEO, said that the rejection of the merger request was more a "procedural" issue than a...

Lunate, based in Abu Dhabi, has appointed Mohammed Hassan Alsuwaidi as its executive chairman and managing director. He will be leading the firm's global expansion strategy. Lunate manages $115 Billion in assets, and describes itself in a press release as an independent commercial partner-led alternative investing company. Alsuwaidi will help to expand its international presence, and deepen institutional capital relationships. Over the next five years, the firm plans to double its assets under management. Alsuwaidi is the founder CEO of ADQ. The fund is owned by Abu Dhabi and is the third largest sovereign wealth fund in the emirate. Since...

Norfolk Southern announced a higher profit for the fourth quarter on Thursday due to cost control. This was despite uneven freight demand, and a persistent macroeconomic stress. The results come after the U.S. Surface?Transportation?Board earlier this month returned Union Pacific's $85 billion merger proposal with the company to be revised. Surface Transportation Board has deemed Union Pacific's December merger application incomplete. However, Jim Vena, the CEO of Union Pacific, said that the request was routine and the deal is still on schedule to close in the first half of 2027. Norfolk stated in October that it anticipated future top-line fluctuations...

Trump's administration has suspended funding for the new $16. The Trump administration's suspension of funding for a new $16? In October, President Donald Trump announced that he had cancelled the project. His Republican administration has repeatedly targeted transit and infrastructure projects that are in Democratic-led States. At a Tuesday hearing, the Gateway Development Commission, a New Jersey Democrat and U.S. Rep. Josh Gottheimer said that the project would be suspended on the 6th of February if Trump did not restore funding approved under the former administration of?former president Joe Biden. He claimed that about 1,000 workers would lose their jobs...

Meta Platforms, the parent company of Facebook, will pay Gorilla Glass manufacturer Corning up to $6 billion in the coming years as part of a deal for fiber-optic cable supply for its AI data centres. Meta will be the main customer of Corning's advanced optical fiber, cables and connectivity products. Corning is also expanding its manufacturing capabilities in North Carolina including its cable factory in Hickory. Corning's optical connector products are among the key components needed to support massive computing and data transmission needs at?data centres. Corning shares will surge by 84% in 2025 due to the demand for their...

United Airlines unveiled on Tuesday its largest-ever summer schedule for the?Chicago O'Hare International Airport. The airline is escalating their battle with American Airlines to gain gates and attract higher-priced passengers in the city's third-largest airport. United Airlines, based in Chicago, said it expected to run a record number of departures daily from O'Hare during the summer season. This is up by nearly 170 compared to a year ago. The expansion comes just days after Scott Kirby, CEO of United Airlines, pledged to add as many flights as necessary to prevent American from gaining extra gates at United’s expense in the...

Union Pacific, the U.S. railroad, reported results for its fourth quarter that were below analyst estimates on Tuesday. This was due to a 'volatile freight market and macroeconomic pressures', which strained its operations. Last year, the?company unveiled an A $85 billion acquisition bid It will create the nation's first coast-tocoast freight railroad. Rail unions have been vocal in their opposition to the merger, claiming that it could threaten jobs and raise costs for shippers. The U.S. Surface Transportation Board returned the proposal for revision in early?this week, citing that it was missing information. It also applied tougher competition rules after...

Ship tracking service Vortexa reported that exports of crude oil from U.S. Gulf Coast ports fell to zero on Sunday after a major winter storm swept the country. A recent Arctic blast has swept the United States, putting strain on energy grids and infrastructure. According to analyst predictions, up to 2 million barrels of oil production per day went offline over the weekend because of the cold weather. In a 'LinkedIn' post,?Samantha Santa Maria Hartke, head of?market analysis?at Vortexa said that the storm had reduced exports of liquefied petrol gas such as propane and butane to a third of seasonal...

GMS, a leading ship recycling company in Dubai, has told its CEO that it has applied for a U.S. licence to purchase and scrap vessels seized by the U.S. Government linked to Venezuelan oil trading. In recent weeks, the U.S. Coast Guard and military have seized seven vessels that either carried Venezuelan oil in their cargo or had done so previously. The seizure was part of Washington’s campaign to force Venezuelan president Nicolas Maduro from power, which culminated with U.S. forces capture him on January 3. Oil spills are possible while the vessels remain in the water. They are part...

The Trump administration announced on Monday that it will be restructuring the Federal Aviation Administration. It will also create a new office for safety oversight to consolidate five different units. The decision?comes? a day before Tuesday's National Transportation Safety Board is scheduled to criticize FAA for failing to act in near-miss situations at an hearing to determine probable cause of a January 2025 collision between a Army helicopter and American Airlines passenger jet that resulted in the deaths of 67 people near Reagan Washington National Airport. The FAA stated that the "new aviation safety office" was part of its strategic...

As freezing rain and heavy winter snowfall disrupted travel, airlines were forced to cancel or delay thousands of flights on Monday. FlightAware data shows that as of Monday, more than 4,300 flights had been delayed and over 5,300 canceled, following the cancellation of 11,000 flights on Sunday, the largest daily total since pandemic. Cirium data indicated that as of 8:20 am ET, 14% of flights were canceled. The U.S. National Weather Service has said that a low pressure system south of New England will move eastward over the Atlantic Ocean on Monday. This is expected to bring heavy snowfall to...

The Federal Aviation Administration announced on Monday that seven people died and one was seriously injured when a private plane crashed in Bangor, Maine as it took off. The FAA reported that the crash of the twin-engine turbofan jet Bombardier Challenger 600 at Bangor International Airport occurred around 7:45 pm on Monday. The National Transportation Safety Board (NTSB) is investigating this crash that occurred during snowy weather conditions and low visibility. Bombardier has referred all questions to the NTSB. The Bangor Airport remained closed on Monday morning. An official from the government said that the plane had arrived at?Maine, Maine...

Adani Airports urged India on Wednesday to relax limits on how many seats foreign carriers can sell?on flights into and out of?the country, saying that the curbs were holding back its ambitions to become a world aviation hub. These limits are part of bilateral agreements to protect domestic carriers, but they have long frustrated overseas carriers. Dubai's Emirates has, for instance, said that demand is much higher than the weekly seat limits under the India-UAE agreement. Arun Bansal, Chief Executive of Adani Airports, said that "in the short-term" bilateral agreements are limiting growth in Indian aviation. He made this statement...

Mattar Al Tayer, Chairman of Dubai's Roads and Transport Authority said that electric air taxis developed Joby Aviation will begin commercial operations in Dubai before the end of this year. Joby Aviation's first fully electric air taxi test flight in the emirate was conducted in June 2025. This is a significant milestone in Dubai's efforts?to introduce them to its existing transport networks. The Joby Aerial taxi, developed by a Californian company, is the "flagship" electric vertical take-off-and-landing aircraft. It can travel up to 160 km (100 miles), at speeds of 320km/h (200mph). Joby’s air taxi has zero emissions and is...

According to Spanish police and Turkish Airlines, a false bomb threat received via an onboard mobile connection forced a Turkish Airlines flight from Istanbul on Thursday to land at Barcelona's El Prat Airport after making an emergency landing. Turkish Airlines spokesperson stated earlier that crew had detected that a passenger created an in-flight hotspot that was named with a?bomb warning as the aircraft approached?Barcelona. The Guardia civil?police force in Spain said that after a thorough examination of the aircraft, following the disembarkation of its passengers, the alert was deactivated. No explosives were found. Spanish airport operator AENA confirmed that El...

Kazakhstan called on Europe and the U.S. to secure oil transport after drone attacks on tankers headed to a Black Sea Terminal on the Russian coast that handles 1% of the global supply. Unidentified drones attacked at least two oil tankers in Tuesday's Black Sea, including a tanker chartered by U.S. major Chevron. They were sailing toward a terminal along the Russian coast that would load oil from Kazakhstan. In a press release, Kazakhstan's foreign ministry said that three tankers had been hit on their way to the Black Sea marine terminal for the Caspian Pipeline Consortium. Drones attacked CPC’s...

Three autonomous regions of Somalia with close ties to the United Arab Emirates (UAE) have rejected a central government decision taken this week to "sever" ties with UAE, which has been a long-term sponsor. Somalia canceled all agreements with the UAE on Monday, including those in the security field. The country accused the Gulf of having undermined Somalia's sovereignty by 'training and funding' its army, and investing in its ports. Somalia has not provided any further information about its motives for this move. Mogadishu investigates allegations that the UAE escorted a separatist leader from Yemen to Somalia via Somalia. Separately...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased by almost 40% in December compared to November, reaching about 3,41 million metric tonnes. This was due to higher fuel production, and a'seasonal decline in domestic demand. Sources said that exports of ultra-low sulphur diesel via Primorsk - Russia's largest outlet for diesel shipments - grew 35% on a month-on-month basis to 1.7 millions tons as major suppliers increased output and supplies. Last month, diesel?and gasoline loadings at southern ports Tuapse?and Novorossiysk increased by?almost 60 percent compared to November. This was due to local refineries...

The Somalia government announced on Monday that it was 'annulling' all agreements with United Arab Emirates. This includes?port deals, defence and security collaboration, and'security and defence cooperation. It accused the UAE of undermining the national sovereignty. The Council of Ministers of Somalia said that the decision was based on "credible reports" and "convincing evidence" of hostile acts undermining the national sovereignty, territorial integrity, and political independence of Somalia. In a press release, it was stated that the decision "applies?to?all agreements and partnerships relating?to the ports of Berbera?and Bosaso?and Kismayo... and] bilateral security and defense cooperation agreements." The?UAE foreign ministry didn't...

Oleksiy Kuleba, Ukraine's deputy prime minister, said that Russian drones attacked two foreign-flagged ships on Monday. This was the second attack on Black Sea shipping in four days. Kuleba stated that the vessels were flying the flags of Panama and San Marino. He also said one person was injured. He added that the San Marino flagged vessel had just been loaded with corn and was on its way to Panama to pick up vegetable oil. Kuleba posted on Telegram that "this is further proof that Russia is deliberately targeting civilian vessels, international commerce, and maritime security." Sources familiar with the...

These are the most popular stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. U.S. prosecutors have opened an investigation into Federal Reserve chair Jerome Powell for his testimony about the renovation of the building at the Federal Reserve Bank last summer. Allegiant Travel has reached a deal worth $1.1 billion to purchase Sun Country Airlines. This is despite the fact that budget airlines in the U.S. are facing stiff competition from their larger competitors. Walmart plans to expand drone deliveries to '150 more stores in the next year, with a...

Ukraine officials reported on Friday that Russia had attacked two civilian boats with drones, one of which was flying a foreign flag, in the southern Odesa area, killing a Syrian citizen and injuring a second. In the last two month, Moscow has intensified its attacks on Ukraine's sea export routes in retaliation to attacks on tankers of Russia's "shadow fleet", which were heading there to export oil. Oleksiy Kuleba, Deputy Prime Minister, said in a press release that a ship was sailing along Ukraine's export route to pick up grain cargoes at the port Chornomorsk. The ship was flying the...

U.S. Energy Sec. Chris Wright stated that there is room to balance the roles of the United States and China in Venezuela, to allow for commerce. However, Washington will not let Beijing have a major influence over the Latin American nation. Wright said in an interview with Fox Business Network that he expects to?see Chevron rapidly grow its operations in Venezuela, while ConocoPhillips and Exxon Mobil will also be looking to play a positive role. "I think you'll see China playing a long-term role in Venezuela. The United States will control oil flow as long as the United States is...

The Gulf's major stock exchanges were mixed on Monday morning amid lower oil prices, as investors weighed geopolitical risk against concerns about a possible oversupply. Brent crude 'futures' fell 52 cents or 0.8% to $60.23 per barrel at 0801 GMT as global supplies were adequate, reducing concerns over supply disruptions following the capture of Venezuelan President Nicolas Maduro by the U.S. in an audacious raid on the weekend. Saudi Arabia's benchmark?index?dropped by 0.2%. This is a continuation of the 1.8% drop from the previous session. ?Oil giant Saudi Aramco slipped 0.6%. According to a Monday survey, the non-oil sector of...