For U.S. rail traffic, 2016 wasn’t exactly a banner year. Total carloads fell 8.2 percent compared with 2015’s level, marking the second consecutive year of declining traffic, according to data from the Association of American Railroads (AAR). A weak manufacturing economy and turmoil in energy markets were two of the main reasons for the decline, […]
The ports along Texas coast have entered the recovery mode following the Hurricane Harvey that flooded parts of Southeast Texas amid historic rainfall. The hurricane, which was subsequently downgraded to a tropical storm, shut down ports leaving commercial vessels including oil tankers and cruise ships stranded off Texas, with some of them forced to divert […]
The three alliances will take delivery of a large number of ultra-large container ships over the next two years, sending smaller tonnage cascading down to the other trades for the rest of this year and in 2018. Most of those displaced vessels will be redeployed, with the largest of them moving to the Asia-Mediterranean trade, […]
Tropical Storm Harvey will take a financial toll on the nation’s economy, but how much of one depends on the extent of flooding in the coming days. Even after the immediate threat from Harvey has passed and the floodwaters receded, the Texas Gulf Coast faces tens of billions of dollars in property damage, bottlenecks at […]
United Technologies Corp. agreed to buy Rockwell Collins Inc. for about $23 billion, creating an aerospace behemoth that can outfit jetliners and warplanes from tip to tail. The transaction, one of the biggest in aviation history, gives rise to an aircraft-parts giant better positioned to withstand the squeeze from planemakers Boeing Co.and Airbus SE for […]
Chinese President Xi Jinping said downward risks and uncertainties for the global economy are on the rise, and pledged to boost the power of emerging markets on the world stage. The external environment for developing economies is complicated and grim, Xi said in a speech Tuesday to the BRICS summit of leaders from Brazil, Russia, […]
U.S. consumer spending rose slightly less than expected in July and annual inflation increased at its slowest pace since late 2015, which could diminish expectations of an interest rate increase in December.
U.S. crude oil prices are on track to post the steepest monthly losses in more than a year on Thursday as concerns spread over falling demand in the world’s top oil-consuming country after storm Harvey knocked out almost a quarter of its refineries.
Investors rediscovered a taste for the dollar and commodities on Thursday, as upbeat Chinese and U.S. economic news whetted appetite for riskier assets globally, while tensions over North Korea simmered in the background.
U.S. house prices are forecast to rise by a cumulative 10 percent over this year and next, driven by a scarcity of new homes, low interest rates and steadily-increasing demand, a Reuters poll of property market analysts showed.
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