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☆ House GOP's budget 'poison pills' could force spending cuts, rattle economy
▼ + stars: | 2024-02-27 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +5 min

House Republican hardliners' efforts to stonewall a budget deal ahead of a looming government shutdown could risk triggering automatic spending cuts later this spring that may put pressure on the U.S. economy's already fraught recovery. A full-year budget deal to avert the FRA cuts appears increasingly unlikely, amid staunch opposition from the House's ultraconservative wing. Freedom Caucus derailmentMembers of the House Freedom Caucus, a coalition of hardline conservatives, have been working to derail a permanent budget. Instead, they want to extend the current temporary spending resolution through the rest of the fiscal year, ensuring the FRA's spending cuts are triggered on April 30. But if the FRA's automatic spending cuts take effect, they could rattle the broader economy's teetering recovery.

Persons: Mike Johnson, Jake Sullivan, economy's, Joe Biden, Chuck Schumer, Mitch McConnell, Hakeem Jeffries, Jan, Johnson, Kevin McCarthy, McCarthy, McConnell, Piper Sandler, Nancy Lazar, Lazar, Sen, Patty Murray Organizations: National Security, U.S, Capitol, House Republican, Congressional Research Service, Caucus, Democrat, Freedom Caucus, Congressional Locations: Washington ,, stonewall, D

☆ Most online hate targets women, says EU report
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - Women are the main targets of online hate, including abusive language, harassment and incitement to sexual violence, a European Union report said on Wednesday. The study was conducted on YouTube, Telegram, Reddit and X - formerly known as Twitter - in four EU countries between January and June 2022. It showed women were the main targets across all platforms and countries involved. "The sheer volume of hate we identified on social media clearly shows that the EU, its Member States, and online platforms can step up their efforts to create a safer online space for all," FRA director Michael O'Flaherty said in a statement. Tech giants have been facing mounting scrutiny recently, with a surge in harmful content and disinformation following the Israel-Hamas war.

Persons: Michael O'Flaherty, Diana Mandiá, Milla Nissi, Angus MacSwan Organizations: EU's Agency, Fundamental Rights, YouTube, EU, EU's Digital Services, European Commission, Facebook, Tech, Thomson Locations: Roma, Bulgaria, Germany, Italy, Sweden, Israel, Gdansk

As the Nebraska explosion made clear, there can be problems that are hard to spot before potentially disastrous accidents occur. Some details about the explosion might never be known because the shipping container carrying the acid was destroyed. Union Pacific CEO Jim Vena said he understands and welcomes the agency's scrutiny. Vena said Union Pacific and other major railroads have become safer over time. “And that’s what I’m challenging the team with here at Union Pacific is we have to get better ... We’ll invest in it.

Persons: haven’t, ”, Andy Foust, Warren Flatau, Pete Buttigieg, —, Foust, “, hasn’t, Dennis Thompson, Thompson, Jim Vena, Vena, We’ll, Charlie King Organizations: —, Union Pacific, Federal Railroad Administration, . Transportation, Rail, Transportation Workers, Transportation Division, . Railroad, Materials Safety Administration, Norfolk Southern, Platte Fire, Pacific, of Railroad Infrastructure Locations: OMAHA, Neb, Nebraska, North Platte , Nebraska, Omaha, Norfolk, Ohio, railyard, Palestine

☆ US House Republican spending plan hits new snag as shutdown looms
▼ + stars: | 2023-11-09 | by ( David Morgan | ) www.reuters.com time to read: +4 min

Lawmakers said they expect the Louisiana Republican to unveil a continuing resolution or "CR" to avert a partial government shutdown as late as Saturday. Johnson can afford to lose no more than four Republican votes from his slim 221-212 House majority on legislation opposed by Democrats. But he is under pressure from Republican hardliners to lumber any CR with spending cuts and policy riders Democrats uniformly reject. "If there's any kind of CR, there has to be spending reductions," Representative Chip Roy, a prominent conservative, told reporters. House Republicans are trying to pass a full slate of 12 appropriations bills for fiscal 2024, which began on Oct. 1.

Persons: Julia Nikhinson, Mike Johnson, Joe Biden, Biden, Chuck Schumer, Johnson, Chip Roy, Tom Cole, Cole, We've, Steve Womack, Republican centrists, Kevin McCarthy, McCarthy, It's, Ralph Norman, David Morgan, Nandita Bose, Susan Heavey, Scott Malone, David Gregorio, Mark Porter Organizations: U.S, Capitol, Congress, REUTERS, Rights, . House, White, Treasury, Lawmakers, Louisiana Republican, Democratic, Republican, House Republicans, Internal Revenue Service, District of, Food and Drug Administration, Amtrak, Biden, Republicans, Caucus, Thomson Locations: Washington , U.S, Louisiana, Washington, District of Columbia

☆ Anti-Black racism is rising in EU countries, led by Germany, study finds
▼ + stars: | 2023-10-25 | by ( Francois Murphy | ) www.reuters.com time to read: +2 min

VIENNA, Oct 25 (Reuters) - Racism towards Black people is growing in Europe, with Germany, Austria and Finland showing the highest rates of discrimination and harassment, a survey of first- and second-generation Black immigrants in 13 EU countries published on Wednesday found. In Austria and Germany the proportion was 64% - almost twice the previous level of 33% in Germany and a significant increase from the 42% recorded in Austria six years earlier. "It is shocking to see no improvement since our last survey," FRA Director Michael O'Flaherty said. The highest national rate was 54% in Germany, followed by Finland and Austria. The FRA report included a series of recommendations for EU member states such as properly enforcing anti-discrimination legislation and considering a motivation based on racial bias as an aggravating circumstance when setting penalties for crimes.

Persons: Michael O'Flaherty, Ipsos, Francois Murphy, Aurora Ellis Organizations: European Union Agency for Fundamental Rights, FRA, Thomson Locations: VIENNA, Europe, Germany, Austria, Finland, Saharan Africa, Belgium, Denmark, France, Ireland, Italy, Luxembourg, Poland, Portugal, Spain, Sweden

☆ Anti-Black Racism Is Rising in EU Countries, Led by Germany, Study Finds
▼ + stars: | 2023-10-25 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

By Francois MurphyVIENNA (Reuters) - Racism towards Black people is growing in Europe, with Germany, Austria and Finland showing the highest rates of discrimination and harassment, a survey of first- and second-generation Black immigrants in 13 EU countries published on Wednesday found. In Austria and Germany the proportion was 64% - almost twice the previous level of 33% in Germany and a significant increase from the 42% recorded in Austria six years earlier. "It is shocking to see no improvement since our last survey," FRA Director Michael O'Flaherty said. The highest national rate was 54% in Germany, followed by Finland and Austria. The FRA report included a series of recommendations for EU member states such as properly enforcing anti-discrimination legislation and considering a motivation based on racial bias as an aggravating circumstance when setting penalties for crimes.

Persons: Francois Murphy VIENNA, Michael O'Flaherty, Ipsos, Francois Murphy, Aurora Ellis Organizations: European Union Agency for Fundamental Rights, FRA Locations: Europe, Germany, Austria, Finland, Saharan Africa, Belgium, Denmark, France, Ireland, Italy, Luxembourg, Poland, Portugal, Spain, Sweden

FRA spokesman Warren Flatau said freight railroads weren't addressed because a 2015 law Congress passed only required regulators to establish a rule for passenger railroads. But many freight railroads, including all the biggest ones that handle a majority of shipments nationwide, have installed cameras voluntarily, starting with outward-facing cameras and later adding ones showing the crews' actions. Later, lawmakers also required regulators in the 2015 law to look at requiring locomotive video recorders for passenger trains. Amtrak pledged in 2015 to install cameras on its trains after a crash in Philadelphia that killed eight people and injured about 200. “While video recorders cannot directly prevent accidents, they help maintain a higher standard of safety,” said FRA Administrator Amit Bose.

Persons: Warren Flatau, Jennifer Homendy, Homendy, there’s, ” Homendy, ”, Amit Bose Organizations: —, National Transportation Safety, Federal Railroad Administration, Railroad Association, Norfolk Southern, NTSB, Union Pacific, Metrolink, Amtrak Locations: OMAHA, Neb, Ohio, Norfolk, East Palestine, Pennsylvania, Palestine, Chatsworth , California, Chatsworth, Philadelphia

Some railroad unions want more scrutiny of the safety of remote control operations major railroads have used for years in and around railyards without significant problems. Remote control train operators might have only a month or two of training before taking the controls, although the length of training varies by railroad. Safety statistics on railroad crashes are unclear because Federal Railroad Administration reports don't break out those involving remote control trains from incidents involving trains operated by engineers and conductors. Grissom said his union has had three members die in incidents involving remote control trains since 2015. He said Anderson's death, combined with fiery derailments that have happened across the country this year, reinforce the need for stronger railroad safety regulations.

Persons: Don Grissom, Brotherhood of Railway Carmen, ” Grissom, Grissom, hasn't, Fred Anderson, carmen, Anderson, Bryan Tucker, didn't, Eddie Hall Organizations: CSX, Brotherhood of Railway, National Transportation Safety, Federal Railroad Administration, NTSB, of Locomotive Engineers, Railroad Administration, Norfolk Southern Locations: OMAHA, Neb, railyards, Walbridge , Ohio, Jacksonville , Florida, Norfolk, East Palestine, Ohio

☆ Every single one of Amtrak's shiny new Acela trains has a manufacturing defect, audit says
▼ + stars: | 2023-10-04 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

All of Amtrak's new Acela trains produced so far have manufacturing defects. AdvertisementAdvertisementAmtrak's new Acela trains could be delayed yet again, according to a new government audit of the $2.1 billion project. Amtrak's Inspector General found manufacturing defects in all 12 of the trainsets and 22 café cars produced so far. Scott Olson/Getty ImagesAmtrak's new high-speed Acela trains, which will have nearly 25% more seats than their predecessor and operate at top speeds of 160 mph, were originally scheduled to launch service in Spring 2021. Amtrak says data provided by Alstom shows the trains are on track for initial revenue launch in 2024.

Persons: General's, —, it's, Scott Olson, General, Laura Mason Organizations: Service, Alstom, Amtrak, Liberty, FRA Locations: Hornell , New York

☆ US passenger railroad Amtrak high-speed Acela program facing new delays
▼ + stars: | 2023-10-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

An Amtrak Acela train arrives at New York's Penn Station, the nation's busiest train hub, in New York City, U.S., May 25, 2017. The Amtrak inspector general in a report on Tuesday said the program faces further delays because the new Amtrak trains have not met Federal Railroad Administration (FRA) requirements and all of the trainsets produced so far have defects. The report added the likeliest cause of more delays would be a lack of a validated trainset model, followed by certain trainset defects. Alstom said it is working with the FRA to meet requirements "through their first-ever safety certification for high-speed trains." Congress approved $66 billion for rail as part of the 2021 infrastructure bill, with Amtrak receiving $22 billion.

Persons: Mike Segar, David Shepardson, Mark Porter, Josie Kao Organizations: Amtrak, Station, REUTERS, Rights, Alstom, Federal Railroad Administration, FRA, Thomson Locations: New, New York City, U.S, Boston, Washington

(AP) — Nebraska authorities said they don't expect any lingering problems related to Thursday's explosion of a railroad shipping container carrying an acid used to make explosives because the chemical largely burned off and any residue was contained at the scene. No one was injured in the blast at Union Pacific's massive railyard in North Platte, and no structures were damaged. But Thursday's incident in the Union Pacific railyard was nothing like that. He said the other container that burned in the fire likely contained memory foam — not another hazardous chemical. Union Pacific was able to continue operating part of the railyard throughout the incident, and full operations resumed after the fire was extinguished Thursday evening.

Persons: Dennis Thompson, ” Thomson, it's, Thompson, Warren Flatau Organizations: —, Platte Fire, Nebraska Emergency Management Agency, Union Pacific, Federal Railroad Administration Locations: OMAHA, Neb, — Nebraska, North Platte, Nebraska, Western Nebraska, Ohio, East Palestine , Ohio, Platte, Denver, Omaha

While he's willing to invest in that, mostly he wants to make sure Union Pacific's day-to-day operations are steadily improving. He's also working to speed up decision making at the railroad to help make Union Pacific more responsive to customers. We’re going to have the best service, and we’re going to have the best safety record. That will put pressure on Union Pacific’s profits. Railroad safety has been in the spotlight this year ever since a Norfolk Southern train derailed and caught fire in eastern Ohio back in February.

Persons: Jim Vena, he's, ” Vena, Vena, He's, Lance Fritz, “ We’re, Amit Bose Organizations: —, Pacific's, Union, Canadian National, Union Pacific, Federal Railroad Administration Locations: OMAHA, Neb, Union Pacific, West, Norfolk Southern, Ohio, East Palestine

(AP) — Federal inspectors said they found an alarming number of defects in the locomotives and railcars Union Pacific was using at the world's largest railyard in western Nebraska this summer, and the railroad was reluctant to fix the problems. Federal Railroad Administrator Amit Bose wrote a letter to UP's top three executives Friday expressing his concern that the defects represent a “significant risk to rail safety " on the Union Pacific railroad. But the letter didn't detail what kind of defects inspectors found in the Bailey Yard in North Platte, and there are a myriad of federal rules. “Union Pacific will never compromise on the safety of our employees. Union Pacific has a network of 32,400 miles (52,000 kilometers) of track in 23 Western states.

Persons: Amit Bose, Bose, ” Bose, carmen, Kristen, South, Jim Vena Organizations: —, Union Pacific, Federal, “, Pacific, FRA, Union Pacific's Locations: OMAHA, Neb, Nebraska, North Platte, Omaha , Nebraska, ”

☆ Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
▼ + stars: | 2023-08-10 | by ( Yusuf Khan | ) www.wsj.com time to read: +12 min

“It’s definitely a [mining] renaissance,” said Rebecca Campbell, global mining and metals lead at law firm White & Case. “We’re trying to foster a permitting landscape that is both efficient and responsible.”In Europe, the mining renaissance comes after years of nearly no new mining activity on the continent. Left: A layer of spodumene within the host rock that Savannah Resources intends to mine. Savannah Resources, which has set up two offices in the municipality, has said it would strictly avoid that and instead build reservoirs to store rain water. That view is echoed by Savannah Resources.

Persons: COVAS, Portugal —, Barroso, BEL, mina ”, ”, Nelson Gomes, Covas, Alex Gorman, “, Nelson, YUSUF KHAN, “ It’s, Rebecca Campbell, ” “, Jayni Hein, Hein, “ We’re, Peel Hunt’s Gorman, Dale Ferguson, Gomes, Jessica Polfjärd, Polfjärd, Ana Fontoura Gouveia, Fontoura, ” Fontoura, Yusuf Khan Organizations: COVAS DO BARROSO, Associação, Peel, Vulcan Energy Resources, Adriatic Metals, White, Covington, Burling, Environmental, Council, Savannah Resources, Sustainable Business, Sweden’s Moderate Party, Serra Locations: Portugal, Porto, Boticas, Covas, It’s, Europe, Germany, Sweden, Bosnia, Finland, Greece, U.S, Savannah, London, spodumene, Serbia, China, yusuf.khan

☆ US agency says Norfolk Southern needs 'significant improvements'
▼ + stars: | 2023-08-09 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

A Norfolk Southern train rests near the University of North Carolina's energy generation plant in Chapel Hill, North Carolina, U.S. August 11, 2022. REUTERS/Jonathan Drake/File PhotoWASHINGTON, Aug 9 (Reuters) - U.S. railroad regulators on Wednesday said Norfolk Southern needs "significant improvements" in its safety culture after a Feb. 3 derailment in Ohio caused cars carrying toxic vinyl chloride and other dangerous chemicals to spill and catch fire. "We expect Norfolk Southern to do their part, acting on the recommendations in this assessment as well as previous ones to increase safety." Norfolk Southern said CEO Alan Shaw and members of the company’s leadership team met with Bose in Atlanta on Tuesday to review the findings. The report found Norfolk Southern had not moved quickly to embrace findings from the 2022 audit and noted little action in the last 12 months.

Persons: Jonathan Drake, Amit Bose, Alan Shaw, Bose, Shaw, We’re, David Shepardson, Jonathan Oatis, Stephen Coates Organizations: University of North, REUTERS, Norfolk, Transportation, Transportation Department's Federal Railroad Administration, Atlanta, FRA, Southern, Thomson Locations: Norfolk Southern, Chapel Hill , North Carolina, U.S, Ohio, Transportation Department's, Atlanta

☆ US offers mixed review of Norfolk Southern safety culture
▼ + stars: | 2023-08-09 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

A Norfolk Southern train rests near the University of North Carolina's energy generation plant in Chapel Hill, North Carolina, U.S. August 11, 2022. Inspections in March identified over 100 defects across 95 miles (153 km) of Norfolk Southern territory "and FRA is considering enforcement actions based on those defects. Norfolk Southern said CEO Alan Shaw and members of the company’s leadership team met with FRA Administrator Amit Bose in Atlanta on Tuesday to review the findings. The railroad delivered the report to a consultant conducting an independent review of its safety program. The report found Norfolk Southern had not moved quickly to embrace findings from the 2022 audit and noted little action in the last 12 months.

Persons: Jonathan Drake, Norfolk, Alan Shaw, Amit Bose, Shaw, Bose, We’re, David Shepardson, Chris Reese, Jonathan Oatis Organizations: University of North, REUTERS, Transportation, Transportation Department's Federal Railroad Administration, Southern, Norfolk, FRA, Thomson Locations: Norfolk Southern, Chapel Hill , North Carolina, U.S, East Palestine , Ohio, Transportation Department's, Atlanta

☆ Monfils magic downs Eubanks in Toronto
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

[1/5] Aug 7, 2023; Toronto, Ontario, Canada; Gael Monfils (FRA) serves against Christopher Eubanks (USA) (not pictured) in first round play at Sobeys Stadium. Mandatory Credit: Dan Hamilton-USA TODAY SportsAug 7 (Reuters) - Frenchman Gael Monfils put on an impressive display of speed and skill to beat American Christopher Eubanks 7-6(3) 6-7(4) 6-1 to advance to the second round of the Canadian Open in Toronto on Monday. Eubanks battled back from a 4-1 deficit in the second set breaker and leveled the match with a perfectly executed serve and volley in the first meeting between the pair of popular players. But Monfils broke Eubanks in the first game to jump out to an early lead he would not relinquish in the deciding set. Next up for Monfils is a second round meeting with Stefanos Tsitsipas, who enjoyed a first round bye, at the Masters 1000 tournament.

Persons: Gael Monfils, Christopher Eubanks, Dan Hamilton, Frenchman Gael Monfils, American Christopher Eubanks, Monfils, Eubanks, Stefanos Tsitsipas, Rory Carroll, Stephen Coates Organizations: Sobeys, Frenchman, American, Canadian, Wimbledon, Monfils, Thomson Locations: Toronto , Ontario, Canada, Toronto, Los Angeles

☆ Rembrandts of 'extraordinary rarity' could fetch $10 million at auction
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 30 (Reuters) - Two rediscovered Rembrandts, the last known pair of portraits by the Dutch master to have remained in private hands, could fetch around $10 million at auction next week. Signed and dated 1635, the depictions of married couple Jan Willemsz van der Pluym and Jaapgen Carels, who were close to the artist's family, have a price estimate of 5 million - 8 million pounds ($6.35 million - $10.16 million). "They are things of extraordinary rarity,” he said, adding the Amsterdam-based Rijksmuseum had analysed them. The portraits are among the highlights of Christie's July 6 "Old Masters Part I Sale", part of the auction house's Classic Week. Also on offer is a panel by Greek-born Spanish Renaissance painter El Greco, "The Entombment of Christ" (6 million - 8 million pounds) and a bust of Helen of Troy by neoclassical sculptor Antonio Canova (2.5 million - 4 million pounds).

Persons: Jan Willemsz van der, Jaapgen Carels, “, they’ve, Henry Pettifer, ”, El Greco, Helen of Troy, Antonio Canova, Fra Angelico, Saint John the, Magdalen, Queen Charlotte, King George III's, Marie, Louise Gumuchian, Barbara Lewis Organizations: Christie’s, International, Reuters, Virgin, Saint John the Baptist, Thomson Locations: Amsterdam, Spanish, Bayreuth

☆ Veterans Rapinoe, Morgan named in U.S. World Cup squad
▼ + stars: | 2023-06-21 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

[1/2] Jun 10, 2023; Seattle, Washington, USA; OL Reign forward Megan Rapinoe (15) is seen before the game against the Kansas City Current at Lumen Field. Five players, Rapinoe, Morgan, midfielder Julie Ertz, defender Kelley O’Hara and goalkeeper Alyssa Naeher were part of the victorious U.S. World Cup squads in 2015 and 2019. The top-ranked Americans are fielding one of their least experienced squads in recent memory, with 14 of the 23 players going to their first World Cup, compared to 11 in 2019 and seven in 2015. Sam's sister and fellow midfielder, Kristie Mewis, was included in the roster for her first World Cup at age 32. Her Gotham FC team mate, Lynn Williams, also made the cut for the global showpiece tournament for the first time at age 30.

Persons: Megan Rapinoe, Michael Thomas Shroyer, Alex Morgan, Vlatko Andonovski, Alyssa Thompson, Naomi Girma, Savannah DeMelo, Andonovski, Sophia Smith, Trinity Rodman, Morgan, Julie Ertz, Kelley O’Hara, Alyssa Naeher, Mallory Swanson, Becky Sauerbrunn, Catarina Macario, Sam Mewis, Kristie Mewis, Lynn Williams, Aubrey Kingsbury, Casey Murphy, Alana Cook, Crystal Dunn, Emily Fox, Sofia Huerta, Kelley O'Hara, Emily Sonnett, Lindsey Horan, Rose Lavelle, Kristie, Ashley Sanchez, Andi Sullivan, Amy Tennery, Ed Osmond Organizations: Kansas, Lumen, YORK, Savannah, Women's Soccer League, U.S, Gotham FC, Washington, North, Courage, Chicago Red Stars, Portland Thorns FC, Diego Wave FC, NY Gotham FC, Racing Louisville FC, FC, Olympique Lyonnais, San Diego Wave FC, Angel, Thomson Locations: Seattle , Washington, USA, States, Australia, New Zealand, NJ, Angel, New York

☆ US to conduct safety review of all major railroads -letter
▼ + stars: | 2023-06-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/3] General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, U.S., March 2, 2023. REUTERS/Alan FreedWASHINGTON, June 6 (Reuters) - The Biden administration will conduct safety assessments of all major U.S. railroads following the Feb. 3 derailment of a Norfolk Southern (NSC.N) operated train in Ohio, according to a letter seen by Reuters on Tuesday. Bose's letter said each major railroad will be asked to "develop corrective actions in response to FRA’s recommendations, and FRA will track those to completion." A major rail trade group did not immediately comment. Last month, the U.S. Senate Commerce Committee approved rail safety legislation that tightens rules on trains carrying explosive substances.

Persons: Alan Freed WASHINGTON, Biden, Chuck Schumer, Amit Bose, Schumer, David Shepardson, Chris Reese, Nick Zieminski Organizations: REUTERS, Reuters, Federal Railroad Administration, U.S . Senate, Norfolk Southern, Thomson Locations: East Palestine , Ohio, U.S, Southern, Ohio, Norfolk

☆ Amtrak's new high-speed trains have been delayed again because the tracks they're supposed to run on are too old and busted
▼ + stars: | 2023-06-01 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

The debut of Amtrak's new high-speed trains has been delayed for a third year in a row to 2024. It's due to complications passing federal safety checks on the Northeast Corridor, Amtrak said. The Amtrak tracks between Boston and Washington are notoriously run down. The trains' manufacturer, Alstom, says the culprit isn't the trains themselves, but rather the tracks they're supposed to run on. The Amtrak tracks between Boston and Washington, a high-traffic section known as the Northeast corridor, are notoriously rundown — with some tracks dating back 150 years.

Organizations: Amtrak, Morning, Alstom, Federal Railroad, FRA Locations: Boston, Washington, United States, Europe, Asia

☆ Train carrying hazardous materials derails in Maine
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: 1 min

April 15 (Reuters) - A train carrying hazardous materials derailed and caught fire north of Rockwood, Maine, fire officials said in a Facebook post on Saturday. Rockwood Fire and Rescue posted a photo of the derailment on its Facebook page and asked residents to "stay clear," without specifying the extent of damage. An FRA safety inspector is en route to the site of a Canadian Pacific Railway derailment near Brassua, Maine, U.S. Federal Railroad Administration said in a tweet. loading"Local responders have contained a fire in the area with no hazardous material released", it added. Reporting by Shivani Tanna in Bengaluru; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ US funding stress metric hits three-month high as crisis rattles regional banks
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 20 (Reuters) - A market-based indicator of stress in the U.S. banking system jumped on Monday to its highest in three months, as turmoil engulfed regional lenders following the collapse of Silicon Valley Bank. The gap between the U.S. three-month forward rate agreement and the three-month overnight index swap rate, a funding stress indicator, rose to around 18 basis points in London trade from 23.7 bps on Thursday. The so-called FRA/OIS spread which is used to gauge U.S. banking sector stress jumped to 18.2 bps, from closer to 12 bps last week, its highest since Dec. 22. A U.S. official said on Sunday that the deposit outflows that left many regional banks reeling in the wake of SVB's failure had slowed and in some cases reversed, as investors tried to ascertain whether the crisis was contained. Reporting by Amanda Cooper; Editing by Yoruk Baceli and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Market stress indicators flash warnings as banking worries continue
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +3 min

March 20 (Reuters) - Fears of a global banking crisis are continuing to swirl, with investors keeping a close eye on a dashboard of indicators that show how stress is rippling through markets and the banking system. Many of these are continuing to flash warnings, though they have not surpassed levels seen during the COVID-19-fueled market turbulence of 2020. But the spread, measuring the gap between the euro zone three-month forward rate agreement and the overnight index swap rate, is still relatively elevated at around -1 basis points in a sign of lingering concern about financial market stress. Cost of insuring European junk bondsThe cost of insuring exposure to European junk bonds rose to the highest since mid-November on Monday at over 516 basis points. This has risen over 130 basis points since March 7 as riskier assets have borne the brunt of bank turmoil on both sides of the Atlantic.

☆ U.S. banks' CDS prices surge as contagion concern widens
▼ + stars: | 2023-03-15 | by ( Mehnaz Yasmin | ) www.reuters.com time to read: +3 min

March 15 (Reuters) - A jump in the cost for Wall Street banks to insure bonds against default on Wednesday was another worrisome indicator of credit stress for investors amid the crisis at Credit Suisse and at U.S. regional banks. Swiss bank Credit Suisse (CSGN.S) fell to a record low on Wednesday. Five-year credit default swaps for the flagship Swiss bank hit a new record high. Credit default swaps on Credit Suisse also inverted on Wednesday with the two-year rising above the five-year, and both hit a new 52-week high, according to data from Ortex. Some analysts believe that the larger banks are resilient and are more worried about the smaller and mid-sized banks.

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