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WASHINGTON — The Supreme Court on Tuesday will weigh the fate of an 88-mile railroad project that would transport crude oil in Utah as the justices consider a dispute over whether federal officials conducted a stringent enough environmental review before approving it. It is opposed by Eagle County, Colorado, which claims that it will suffer from downstream effects of the railroad, as well as environmental groups. The federal entity overseeing approval of the project, the Surface Transportation Board (STB), conducted an environmental review and subsequently gave it the green light to commence. The Biden administration has backed the coalition at the Supreme Court in arguing that the STB's review was sufficient. Lawyers for Eagle County said in court papers that the appeals court correctly concluded that the STB had not done a full analysis.

Persons: WASHINGTON —, Joe Biden, Biden, Elizabeth Prelogar, Neil Gorsuch, Philip Anschutz . Organizations: Seven County Infrastructure Coalition, Surface Transportation Board, ., Appeals, District of Columbia Circuit, Environmental, Eagle, STB, DHIP Group, Rio Grande Pacific Corp, Liberal, Anschutz Exploration Corp Locations: Utah, Uinta, Eagle County , Colorado, Louisiana, Texas, Eagle County, Colorado, Rio

☆ Singapore tourist arrivals double in 2023 amid global travel recovery
▼ + stars: | 2024-02-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Travellers look at the flight departure schedule on the screen at Singapore Changi airport on December 7, 2022.International tourist arrivals to Singapore more than doubled in 2023, surging to 13.6 million compared to 2022's figure of 6.3 million. The Singapore Tourism Board said this in line with its forecast, and was at 71% of 2019 levels, the last full year before the Covid-19 pandemic hit the country. Indonesia topped the ranking for the most amount of tourists to Singapore at 2.3 million, followed by China and Malaysia at 1.4 million and 1.1 million respectively, according to STB data. "Other key markets that posted buoyant recovery included Australia, South Korea and USA," the tourism board added.

Organizations: International, Singapore Tourism Board Locations: Singapore Changi, Singapore, Indonesia, China, Malaysia, Australia, South Korea, USA

☆ Vietnam's real estate woes: how much worse can they get?
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

HANOI, Oct 26 (Reuters) - A rough year for Vietnam's real estate sector has seen developers miss interest payments on debt, amid a credit crunch spurred by ill-timed government measures, although spillover risk has been limited. Shares of the largest listed developer, Vinhomes (VHM.HM), part of the country's biggest conglomerate, Vingroup (VIC.HM), have fallen 13% this year. In September, the Asian Development Bank warned of potential spillover into banking from irregularities in corporate bonds and real estate markets, although troubled bonds made up just a small portion of total bank credit. While ill-timed government measures, companies' high debt and oversupply are responsible for the sectors' woes in both countries, conditions are different in Vietnam. Vietnam has a less acute situation of oversupply and speculation than China, he added, while real estate's contribution to its economy is also smaller.

Persons: Ho, Van Thinh Phat, Jean Xavier of S, Truong, Truong My Lan, Van Thinh, P's Xavier Jean, Francesco Guarascio @fraguarascio, Phuong Nguyen, Anne Marie Roantree, Clarence Fernandez Organizations: Dragon, Hung Thinh Corp, Moody's, Asian Development Bank, P Global, P, Southeast Asia Bank, Maritime Bank, Asia Commercial Bank, Vietnam Prosperity Bank, VP Bank, Bank, Van Thinh Phat Holdings Group, Thomson Locations: HANOI, Ho Chi Minh City, Vietnam, Phu, Hanoi, Southeast, Asia, Truong My, VIETNAM, CHINA, China

Embattled Bamboo, Vietnam's No. "Bamboo Airways has reduced a number of pilot personnel recently to serve this goal," the statement said, denying that late payments of salaries were the reason behind the departures. Many staff at Bamboo have sometimes had to face delays in salary payments but this had not, until recently, affected foreign pilots who make up a large majority of the airline's pilot staff, the sources said. Messages seen by Reuters from an internal company chat forum that management uses to communicate with foreign pilots show some salary payments have been late. Bamboo, which flies both internationally and domestically, has around 17% of Vietnam's market share, its then CEO told local media in March.

Persons: Bamboo, Vietnam's, Bamboo's, Nguyen Ngoc Trong, Trong, Francesco Guarascio @fraguarascio, Khanh Vu, Phuong Nguyen, Mai Nguyen, Jamie Freed, Edwina Gibbs Organizations: Bamboo Airways, Airways, Reuters, Sacombank, Vietnam's, Thomson Locations: Samcombank, HANOI, United States

Many companies have complained about poor railroad service over the past couple years as the industry worked to recover from the depths of the pandemic. It, however, welcomed regulators establishing some clear minimum service standards for railroads that never existed before and requiring railroads to report more details about their performance. Getting the rule right is important because roughly 75% of refineries and petrochemical manufacturers are only served by a single railroad. Canadian regulators have long had similar rules that allow companies to hire other railroads to deliver their goods. The Canadian rules don't require companies to prove they are getting poor service like the proposed new U.S. rules.

Persons: Scott Jensen, Martin Oberman, ” Oberman, Rob Benedict, Benedict, Ian Jefferies, ” Jefferies, Jeremy Ferguson, ” Ferguson Organizations: — Companies, Surface Transportation, American Chemistry Council, Chemistry, American, and Petrochemical Manufacturers, Association of American Railroads, Transportation Division, International Association of, Rail, Transportation Workers Locations: OMAHA, Neb, U.S, North America, Canada, Mexico

☆ After back-to-back train disasters, regulators approve the largest rail merger in decades creating a line that would stretch from Canada to Mexico
▼ + stars: | 2023-03-16 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

Regulators approved a railroad merger that would create a single route stretching from Canada to Mexico. The rail industry has seen train accidents and labor disputes in recent months. "30-40% of the United States economy depends on a well-functioning railroad," Oberman said in the Wednesday press conference. That's why the STB has been "railing about some of the rail service problems and issues affecting the rail industry," he said. Oberman also argued shippers would not lose any existing rail competition from the merger.

☆ Union Pacific shares rise after CEO Fritz to step down amid investor pressure
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Shares of Union Pacific Corp (UNP.N) surged nearly 10% before the bell on Monday, a day after the U.S. railroad operator announced that its Chief Executive Lance Fritz would step down this year amid pressure from investor Soroban Capital Partners. The gains came after some Wall Street analysts backed the leadership change at the company, which has struggled with labor shortages and service issues. Union Pacific's shares have dropped more than 25% over the past 10 months. Other analysts said a new leadership has the potential to improve the company's operating ratio — a key profitability metric. In its most-recent quarter, the company flagged higher operating expenses caused by operational inefficiencies and the current economic environment hitting its revenue growth.

☆ Bank of America upgrades Union Pacific after railroad operator says new CEO coming in 2023
▼ + stars: | 2023-02-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Bank of America says it's time to buy Union Pacific after the company announced its current CEO, Lance Fritz, would be stepping down this year. Analyst Ken Hoexter upgraded the railroad operator's shares to buy from neutral. Hoexter said the leadership change shows the company is prioritizing an operational fix after it was flagged for poor service by the Surface Transportation Board last year. The firm expressed optimism for the frontrunner for Fritz's replacement — former Union Pacific COO Jim Vena — citing his strong track record at the company. Hoexter raised his price target to $241 from $218, implying a 25% upside from Friday's closing price.

☆ Chinese travel volume to Singapore won't fully recover in 2023: STB
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVolume of Chinese travelers to Singapore won't fully recover in 2023: Singapore Tourism BoardKeith Tan of the Singapore Tourism Board says it expects a full recovery across all markets by sometime in 2024.

☆ Union Pacific pauses use of controversial freight rail embargoes
▼ + stars: | 2022-12-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

In a letter addressed to STB chairman Martin Oberman and sent to the STB on Friday by Fritz, the Union Pacific CEO stated, "We are taking a hard look at our use of congestion-related embargoes. Union Pacific carries nearly 27% of freight served by rail and nearly 11% of all long-distance freight volume. Unions have said that even as major freight rail companies add workers, the data supplied to STB on hiring is masking a longer-term trend of labor attrition. According to a Union Pacific spokesperson, total craft hiring was 27,753 in October 2022 compared to 32,315 in October 2019. Union membership data shows employment on all of the Class I rails, including Union Pacific, is down from just before the start of the pandemic and even down between October 2021 and October 2022.

☆ Rail union bosses warn of election consequences as Senate moves closer to vote on labor deal to prevent strike
▼ + stars: | 2022-12-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

watch nowLeaders of the rail labor unions that have voted not to ratify the tentative labor deal tell CNBC that as the Senate moves closer to a vote on Thursday afternoon on legislation to prevent a rail strike, senators need to realize this is a humanitarian issue and their members will not forget who supported them. On Wednesday, the House passed the tentative rail labor agreement and additional legislation to add seven paid sick days, which has been one of the most important issues to rail workers in the breakdown of negotiations with freight rail companies. All three union presidents say they understand why President Biden had to push Congress to pass the tentative agreement. Biden's PEB deal 'missed the mark'Ferguson said the Presidential Emergency Board rail labor deal "missed a few marks and sidestepped a few, mainly our attendance policy issues." Supply chain congestion and rail embargoesThe unions argue that precision railroading and the lack of labor are the reasons behind congestion in the supply chain.

☆ Union Pacific CEO called to hearing in Washington as risk of rail strike rises
▼ + stars: | 2022-11-22 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The Surface and Transportation Board is calling Union Pacific management including CEO Lance Fritz to appear at hearings December 13-14 about the freight railroad's use of embargoes. UP carries nearly 27 percent of freight served by rail and nearly 11 percent of all long-distance freight volume. The risk of a nationwide freight rail strike in December has been rising. We have quality of life issues," said Jeremy Ferguson, president of SMART-TD, which on Monday voted to reject the labor deal, with a rail strike now potentially starting as soon as Dec. 9. Ferguson, similar to fellow union president Dennis Pierce of BLET, referenced a recent CNBC interview with Fritz, during which the Union Pacific CEO laughed when asked about the risk of a rail strike.

But that doesn’t mean that the freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. “Railroads understand that service is not at the level customers expect or deserve. “”I’m told by a lot of our members that this has been the worst rail service year in their careers. For rail customers there is basically no alternative for the products they ship.

☆ Actorul George Mihăiță, implicat într-un accident la Bucureşti. Avea o alcoolemie de 1,05
▼ + stars: | 2021-07-01 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Actorul George Mihăiță s-a ales miercuri cu un dosar penal pentru conducere sub influența băuturilor alcoolice, după ce, beat fiind, a intrat cu mașina într-un alt autoturism oprit în refugiul STB. În jurul orei 21.20, actorul George Mihăiță, 72 de ani, care se deplasa cu mașina pe Bulevardul Basarabia, a pierdut controlul volanului și a izbit violent o dubă oprită în refugiul STB. În urma testului cu aparatul etilotest, George Mihăiță rezultatul fiind a fost 1.05 mg/l. Poliţiştii l-au dus la INML pentru a i se preleva probe biologice pentru a stabili cu exactitate alcoolemia. Actorul s-a ales cu dosar penal pentru conducerea unui autovehicul sub influența băuturilor alcoolice.

Persons: George Mihăiță, . Poliţiştii, George Mihăiţă Organizations: Comedie Locations: Basarabia, România, București

☆ Un tramvai a fost la un pas de a spulbera o femeie cu trei copii. Tragedia a fost evitată în ultimul moment (VIDEO)
▼ + stars: | 2021-05-19 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

O femeie cu trei copii care se angajaseră în traversarea străzii pe o trecerea de pietoni a fost la un pas să fie spulberată de un tramvai. Imaginile surprinse de o cameră de supraveghere au fost plasate pe Facebook de o bucureșteancă. În video se vede cum tragedia a fost evitată într-o fracțiune de secundă. După cum vedeți în video cu ce viteza trece, neacordând prioritate pietonilor și la fracțiune de secundă era să ia viața unei mame și celor 3 copii ai ei. Până în acest moment, conducătoarea tramvaiului nu a fost de găsit pentru a ne oferi un punct de vedere.

Organizations: Facebook

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