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☆ Warren Buffett is struggling to find bargains, Berkshire Hathaway's 2nd-quarter earnings show
▼ + stars: | 2023-08-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett found few bargains in the second quarter, Berkshire Hathaway's earnings show. The investor's company sold a net $8 billion of stock, and spent only $1.4 billion on buybacks. They also spent only $1.4 billion on stock buybacks last quarter, down from over $4 billion in the first quarter. They plowed a record $68 billion into stocks last year, or $34 billion on a net basis. In contrast, Berkshire sold over $18 billion of stock on a net basis during the first six months of this year.

Persons: Warren Buffett, Warren Buffett's, Berkshire Hathaway's, That's, it's, Buffett, didn't, Fitch Organizations: Berkshire, Service, BNSF Railway, Travel Centers, Treasury, CNBC, AAA, AA Locations: Wall, Silicon, Alleghany, Berkshire

☆ Twenty-one injured in east China magnitude 5.5 earthquake - state media
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: 1 min

Aug 5 (Reuters) - Twenty-one people were injured and 126 buildings collapsed after an earthquake of magnitude 5.5 struck the eastern Chinese province of Shandong on Sunday, state broadcaster CCTV reported. The earthquake, 10 km (6 miles) deep, jolted Pingyuan County of Dezhou City at 02:33 a.m. (1833 GMT on Saturday), according to the China Earthquake Networks Center. China Railway Group suspended some train operations on routes including the Beijing-Shanghai Railway and Beijing-Kowloon Railway in response to the earthquake, CCTV reported. Reporting by Shanghai Newsroom, Jyoti Narayan in Bengaluru; Editing by Toby Chopra and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Jyoti Narayan, Toby Chopra, William Mallard Organizations: CCTV, Dezhou City, China Earthquake Networks, China Railway Group, Shanghai Railway, Kowloon Railway, Shanghai Newsroom, Thomson Locations: Shandong, Pingyuan, Dezhou, Beijing, Bengaluru

☆ Uganda to reopen century-old rail link after China fails to fund new line
▼ + stars: | 2023-08-04 | by ( Elias Biryabarema | ) www.reuters.com time to read: +2 min

The line, which has been out of use for roughly 40 years, is part of the East Africa rail network that stretches from Kenya's Indian Ocean seaport of Mombasa. It was built by Kenya and Uganda's former colonial ruler Britain around the beginning of the 20th-century. Uganda decided to revamp the old network after plans to build a separate modern standard gauge railway (SGR) failed to secure financing from China. The European Union funded construction of the Gulu hub, completed in late 2021, as part of the effort to revamp Uganda's railway network, which fell into disrepair during the country's economic collapse in 1970s and early 80s. Ugandan officials hope once the link is restored, rail will replace trucks in shipping transit goods to South Sudan and northeastern Democratic Republic of Congo.

Persons: Thomas Mukoya, John Linnon Sengendo, Sengendo, Elias Biryabarema, George Obulutsa, Barbara Lewis Organizations: REUTERS, Democratic, Uganda Railways Corporation, Reuters, China Harbour, Engineering Company, Bridge Corporation, European Union, Thomson Locations: Kenya, Uganda, Kibera, Nairobi, South Sudan, DRC Kenya, KAMPALA, Democratic Republic of Congo, East Africa, Mombasa, Britain, China, Ugandan, Tororo, Uganda's, Gulu, Kampala

☆ Huawei ban would cost German rail operator 400 million euros, der Spiegel reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A Huawei logo is seen on a cell phone screen in their store at Vina del Mar, Chile July 18, 2019. REUTERS/Rodrigo Garrido/File photoBERLIN, Aug 4 (Reuters) - Germany's national railway operator would have to spend up to 400 million euros ($437.44 million) to replace all the components in its infrastructure supplied by Chinese tech giant Huawei Technologies [RIC:RIC:HWT.UL], Spiegel magazine reported on Friday. Deutsche Bahn, which is state-owned, would face delays of five to six years for its projects if the German government decided to ban Huawei components in the short term, the report said, citing an internal company document. A spokesperson for Deutsche Bahn said the company would not comment on internal documents. Any decision to ban Huawei outright would likely draw an angry response from Beijing, with the Chinese foreign ministry having urged Berlin to act in line with its own interests and international rules.

Persons: Rodrigo Garrido, Rachel More, Miranda Murray Organizations: Huawei, Vina del, REUTERS, Huawei Technologies, Spiegel, Deutsche Bahn, Deutsche Telekom, Thomson Locations: Vina del Mar, Chile, BERLIN, Beijing, Berlin

☆ Floods hit Slovenia, forcing evacuations and disrupting transport
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

KAMNIK, Slovenia Aug 4 (Reuters) - Torrential rains described by rescuers as "biblical" hit northern and western Slovenia on Friday, disrupting traffic and causing black outs, with helicopters evacuating people from some areas. Rescuers struggled to reach flooded areas and issued a public call for rubber boats in places where roads were closed and impassable due to landslides. Helicopters evacuated people trapped at their homes in the town of Skofja Loka, where vehicles and trucks were submerged or taken by torrents, local media reported. "We have not seen floods like these not just in 500 years, but in a 1,000 years," Roman Kocilija, chief of the rescuers in the village of Most pri Komendi, was quoted as saying by local media. He appealed to citizens to stay indoors in the town of Kamnik, where authorities declared an emergency situation and closed kindergartens.

Persons: Kocilija, Marjan Sarec, Borut Zivulovic, Daria Sito, Angus MacSwan Organizations: Environment Agency, Helicopters, Defence, Thomson Locations: KAMNIK, Slovenia, Croatia, Bosnia, Skofja Loka, Kamnik

☆ Japanese vice minister quits as PM Kishida's ratings slide
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Tokyo prosecutors raided the office of ruling Liberal Democratic Party lawmaker Masatoshi Akimoto on suspicion that he took bribes amounting to tens of millions of yen, according to public broadcaster NHK. The foreign ministry later announced that Akimoto had stepped down from his post as a vice minister. The resignation comes after Kishida's approval rating slid to its lowest since he took office in 2021. Errors that have recently come to light with the card have included health insurance information linked to the wrong social security account and welfare payments made to the wrong person. State broadcaster NHK and other media have reported that Tokyo prosecutors suspect Japan Wind Development Co paid bribes to Akimoto.

Persons: Masatoshi Akimoto, Amit Dave, Fumio Kishida, Akimoto, Hirokazu Matsuno, Sakura Murakami, Robert Birsel Organizations: Land, Transport, Speed, Kalupur, REUTERS, Liberal Democratic Party, NHK, Yomiuri, State, Development, Reuters, Thomson Locations: Infrastructure, Tourism, Ahmedabad, Mumbai Ahmedabad, India, TOKYO, Tokyo, The Tokyo

☆ Italy announces special tourist trains and 'cruise trains'
▼ + stars: | 2023-08-02 | by ( Julia Buckley | ) edition.cnn.com time to read: +5 min

Ferrovie dello Stato Italiane (FS), Italy’s state-owned railway operator, has announced a new program of tourist-focused trains, using vintage locomotives on popular vacation routes. “Lusso” (luxury) trains will be spearheaded by the long-distance, super-luxury Orient Express Dolce Vita train, which will now launch in 2024, instead of this year as previously anticipated. The luxury Dolce Vita train will debut in 2024. These new routes will include night trains. sphraner/iStock Editorial/Getty ImagesThere will even be “cruise trains” – routes conceived with the idea of shuttling vacationers back and forth from short breaks.

Persons: we’ll, Stanley Tucci, Lusso, DIMORESTUDIO, Lamberto, Luigi Ferraris, ” Antonio Tajani Organizations: CNN, intel, Ferrovie dello Stato, Orient, Express, Golden Eagle, Cortina, d’Ampezzo, FS, Fondazione FS Locations: Italy, Venice, Milan, Tuscan, Rome, Otranto, Puglia, Metaponto, Basilicata, Reggio Calabria, Cortina d'Ampezzo, Calalzo, Umbria, Swiss

"China is not trying to supplant the IMF," said Matthew Mingey, a senior analyst with Rhodium Group. "When China has allowed these swap lines to be tapped, in many cases it's to unlock an IMF bailout or ensure an IMF programme stays on track." In turn, China is a major customer for Argentina's soy, corn and poultry exports. "China has every incentive to tightly manage Argentine drawings under the swap lines as the risks are very high." The swap line that the People's Bank of China (PBOC) signed in 2009 with Buenos Aires was the first agreed with a Latin American country.

Persons: Matthew Mingey, Buenos, Mark Sobel, Sobel, Sergio Massa, Martin Castellano, Alejandro Werner, Werner, Mingey, Jorgelina, Rosario, Karin Strohecker, Jorge Otaola, Joe Cash, Kirsten Donovan Organizations: International Monetary Fund, IMF, U.S . Treasury, Reuters, World Bank, TAG, People's Bank of China, Buenos Aires, Economy, Institute of International Finance, Relations, Georgetown Americas Institute, Western Hemisphere Department, Thomson Locations: China, Argentina, Beijing, Washington, Latin America, Buenos Aires, U.S, Buenos, American, United States, Zambia, Sri Lanka, Taiwan, Ukraine

At least 11 people have been killed and 27 others reported missing, state broadcaster CCTV reported, while more than 127,000 people have been evacuated from the city. In Mentougou district, the average rainfall was more than 18 inches, according to data from Beijing’s meteorological service, while nearby Fangshan saw 16 inches of rain. The storm is the deadliest to hit Beijing since 2012 when floods killed 77 people – a toll that authorities initially tried to cover up. Before hitting Fujian, the typhoon had killed at least 39 people in the Philippines and lashed parts of southern Taiwan. At least 1,870 passengers and 68 staff had been stranded on two trains and were finally led to safe ground by Monday afternoon, Xinhua reported, citing Beijing’s state railway operator.

Persons: Doksuri, Pedro Pardo, Xi Jinping, ” Xi Organizations: CNN, CCTV, Beijing, Xinhua, Authorities Locations: Beijing, China, Mentougou district, Fangshan, Zhengzhou, Henan, Beijing's Mentougou, AFP, Fujian, Philippines, Taiwan, Guizhou, Mentougou, Zhangjiakou, Hebei, Zhejiang

[1/6] German tourist Kevin Khani and Austrian tourist Georg Riedlbaur use an automated translation window at the Seibu-Shinjuku station in Tokyo, Japan, July 26, 2023. REUTERS/Kim Kyung-Hoon/File photoTOKYO, July 31 (Reuters) - As Japan enjoys a post-pandemic resurgence in tourism from around the globe, Seibu Railway is testing out an automated translation window to help confused foreigners navigate one of Tokyo's most complex transportation hubs. Kevin Khani was among foreign travellers who got turned around in the Seibu-Shinjuku station recently and found the VoiceBiz window helpful. Across the road from the Seibu station is Shinjuku's central Japan Railway (JR) station, which is the busiest in the world, with some 3.6 million people passing through daily. Weary from a 1 a.m. flight arrival, French tourists Isabelle and Marc Rigaud used the translation window to try to find their way from the Seibu station to the JR station.

Persons: Kevin Khani, Georg Riedlbaur, Kim Kyung, Harry Potter, Ayano Yajima, Toppan, Isabelle, Marc Rigaud, Tom Bateman, Rocky Swift, Simon Cameron, Moore Organizations: Seibu, REUTERS, Japan, Seibu Railway, Seibu Holdings, Kansai International, Japan Railway, Thomson Locations: Shinjuku, Tokyo, Japan, TOKYO, United States, Europe, Seibu, Alibaba

☆ New tentative labor deal reached in Canadian port negotiations
▼ + stars: | 2023-07-31 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The International Longshore and Warehouse Union of Canada (ILWU) and the British Columbia Maritime Employers Association (BCMEA) late Sunday announced a tentative labor agreement. Canadian Labor Minister Seamus O'Regan commented Monday morning on the announcement of another tentative deal. This latest tentative deal does not mean the uncertainty is over. The first tentative labor deal was rejected by the union body in a two-day vote last week. A 14-day strike has led to more than 16 canceled sailings to the Canadian ports, according to maritime intelligence company, eeSea.

Persons: Rob Ashton, Ashton, Seamus O'Regan, Berkshire Hathaway, John Brooks, Brooks Organizations: Warehouse Union of Canada, British Columbia Maritime Employers Association, Sunday, Canada Industrial Relations, ILWU, Canadian Labor, Canadian, Canadian Pacific Kansas City, Canadian National Railway, U.S, BNSF, Union Pacific, Norfolk Southern, CSX, Pacific Kansas City Locations: Burrard, North Vancouver, British, ILWU Canada, Canadian Pacific, U.S, Berkshire, East, Pacific Kansas

☆ India, Maharashtra train shooting: Four dead after railway officer opens fire on moving train
▼ + stars: | 2023-07-31 | by ( Manveena Suri | ) edition.cnn.com time to read: +1 min

CNN —An Indian railway security officer opened fire on a moving train in the country’s western Maharashtra state on Monday, killing four people, according to a spokesperson for the Western Railway. The incident occurred on a passenger train traveling from Jaipur to Mumbai around 6 a.m. local time (8:30 p.m. ET Sunday), the spokesperson told Indian news agency Asian News International on camera. He was arrested by police after he pulled the alarm and jumped off the train, the spokesperson continued. Divisional Railway Manager Neeraj Kumar told reporters that the families are being contacted and compensation would be given to the next of kin.

Persons: Chetan Kumar, Tikaram Meena, Neeraj Kumar Organizations: CNN, Western Railway, Asian, International, Protection, Divisional Locations: Maharashtra, Jaipur, Mumbai, “

☆ Russian missile kills 2 in Zaporizhzhia, Ukrainian official says
▼ + stars: | 2023-07-29 | by ( Vladyslav Smilianets | ) www.reuters.com time to read: +1 min

ZAPORIZHZHIA, Ukraine, July 29 (Reuters) - A Russian missile attack killed two people and blew out apartment windows in the southern Ukrainian city of Zaporizhzhia on Saturday, Anatoliy Kurtiev, secretary of the city council, said. "An enemy missile hit an open area," Kurtiev said on Telegram. Men in uniforms examined pieces of shrapnel and stood beside a crater in the earth several meters wide. Kurtiev said the blast wave broke windows in 13 high-rise buildings and an educational institution. Reporting by Vladyslav Smilianets in Zaporizhzhia, Ukraine Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Anatoliy Kurtiev, Kurtiev, gesticulating, Vladyslav Smilianets, Alistair Bell Organizations: Thomson Locations: ZAPORIZHZHIA, Ukraine, Russian, Ukrainian, Zaporizhzhia

After selling off more than 9% this week, shares of defense contractor RTX look poised for a bounce back, according to one technical indicator. Nearly half of Wall Street analysts rate shares a buy. It's the second most oversold stock in the S & P 500 with a 14-day RSI of 19.6. Just 14% of analysts rate shares a buy, with the average price target suggesting nearly 8% downside. Half of Wall Street analysts rate shares a buy, with a price target that implies 7% upside.

Persons: RTX, Lamb Weston, Estee Lauder, Biogen, Goldman Sachs Organizations: Federal Reserve, CNBC Pro, Raytheon, Pratt & Whitney, Wall Street, Ford Motor, Union Pacific, UNP, Pacific, Street, Marathon Petroleum

BEIJING/TAIPEI, July 28 (Reuters) - Typhoon Doksuri swept into southern China on Friday, unleashing heavy rain and violent gusts of wind that whipped power lines and sparked fires, uprooted trees, and ripped off part of a stadium roof. REUTERS/Eloisa LopezSocial media video showed power lines sparking and bursting into flames as winds thrashed Jinjiang, a city of 2 million, while in Quanzhou trees were uprooted and left in the middle of roads. FERRY OVERTURNSTyphoon Doksuri has already left a wake of death and destruction as it moved from the Philippines across southern Taiwan. In southern Taiwan, the storm toppled trees and cut power to hundreds of thousands of homes. The storm had cut power to more than 278,000 homes across Taiwan and downed hundreds of trees in Kaohsiung.

Persons: Doksuri, Meranti, Zhuang, Aya, Eloisa Lopez, Bernard Orr, Ryan Woo, Yimou Lee, Dominique Patton, Yuhan Lin, Kevin Huang, Ethan Wang, Michael Perry, Neil Fullick Organizations: Sunday, Philippine Coast Guard, REUTERS, Eloisa Lopez Social, Residents, Reuters, Thomson Locations: BEIJING, TAIPEI, China, Fujian, Quanzhou, Anhui, Beijing, Xiamen, Binangonan, Rizal province, Philippines, Jinjiang, Taiwan, Manila, Kaohsiung, Taipei, Shanghai

☆ Typhoon Doksuri smacks southern Taiwan as China braces for landfall
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

As of 7:15 a.m. (23:15 GMT) Typhoon Doksuri, categorised at the second-strongest typhoon level by Taiwan's weather bureau, headed towards China's southeastern province of Fujian after crossing the Taiwan Strait with maximum winds of 191 kmh (118 mph). Businesses and schools were shut for the second day in southern counties of Taiwan including the major port city of Kaohsiung amid warnings of landslides and floods. The storm had cut power to more than 186,000 homes across Taiwan and downed hundreds of trees in Kaohsiung. Rainfall of more than 1 metre was recorded in the mountainous eastern and southern parts of the island. More than 300 domestic and international flights were suspended and railway services between southern and eastern Taiwan were halted.

Persons: Doksuri, Yimou Lee, Michael Perry Organizations: Thomson Locations: TAIPEI, Taiwan, China, China's, Fujian, Taiwan Strait, Kaohsiung, Penghu, Philippine, Manila, Philippines

[1/5] Members of the Philippine Coast Guard remove a fallen tree from a road following the onslaught of Typhoon Doksuri in Buguey, Cagayan province, Philippines, July 26, 2023. As of 10:15 a.m. (0215 GMT) Typhoon Doksuri, categorised at the second-strongest typhoon level by Taiwan's weather bureau, headed towards the southern Taiwan Strait with maximum winds of 191 km (118 miles) per hour. All domestic flights and ferry lines were suspended in Taiwan while more than 100 international flights were cancelled or delayed. Railway services between southern and eastern Taiwan were shut. "Typhoon Doksuri should not be underestimated," Kaohsiung city mayor Chen Chi-mai said in a Facebook post late on Wednesday.

Persons: Doksuri, Chen Chi, Han Kuang, Yimou Lee, Ann Wang, Michael Perry Organizations: Philippine Coast Guard, REUTERS, Railway, Thomson Locations: Buguey, Cagayan province, Philippines, REUTERS TAIPEI, Southern Taiwan, China, Taiwan Strait, Kaohsiung, Taiwan, Taipei Port, Taiwan's

☆ Rail freight from Canada to U.S. continues to drop after ports strike
▼ + stars: | 2023-07-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Last week, total rail volume from Canada to the U.S. was down 12%, according to The Association of American Railroad's latest rail traffic report for the week ending July 22. This was an improvement given the first full week of the strike saw a 46% decrease in rail trade from Canada, and the second week suffered a 36% decrease. Rail traffic from Canada into the U.S. had a third-straight weekly drop as a result of the on-again, off-again strike at the West Coast Canadian ports. When the first strike ended on its thirteenth day, delays for rail containers were estimated at 39 to 66 days. Adding another day with the on-again, off-again strike last week, brings the congestion removal tally up to 42-70 days.

Persons: Port of Prince Rupert, Doug Macdonald, Rupert, Blaine Davidson, Terri Shimensky, Shimensky, Eric Byer, Byer, NACD Organizations: The Association of American, West Coast, Railway Association of Canada, CNBC, The Railway Association of Canada, Port, National Association of Chemical Distributors, CN, U.S ., Railroads, Canada, Association of American Railroads Locations: Canada, Port of Vancouver, Port of, Vancouver, Ohio, of Long, U.S . West Coast, U.S, Chicago, West

Shares of the company rose 7% to hit a 1-1/2 year high after Boeing also posted second-quarter results above Wall Street expectations. The planemaker is now transitioning its 737 production line - including the MAX models that make up the vast majority of 737 production - to building 38 jets per month, up from 31, the company said. Calhoun later added the company is already in "prep mode" to raise monthly 737 production to 42, but wouldn't specify whether Boeing would do so in 2023, as Boeing Commercial Airplanes head Stan Deal said told Bloomberg TV in June. 'ENCOURAGING' RESULTS AMID CHALLENGESA photo of Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. Boeing expects to deliver most of the 228 MAXs in its inventory by the end of 2024, making it critical that Boeing step up production.

Persons: there'll, Dave Calhoun, Calhoun, Stan Deal, Brian West, Lindsey Wasson, Peter McNally, Refinitiv, Valerie Insinna, Abhijith Ganapavaram, Anil D'Silva, Nick Zieminski Organizations: Boeing, Boeing Commercial Airplanes, Bloomberg TV, Boeing Factory, REUTERS, Commercial Aerospace, Thomson Locations: Renton , Washington , U.S, West

☆ Union Pacific appoints former executive Jim Vena as CEO
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: 1 min

July 26 - Union Pacific Corp (UNP.N) on Wednesday named former chief operating officer Jim Vena as its top boss, months after CEO Lance Fritz said he was stepping down, sending the U.S. railroad operator's shares up 6.7% in premarket trading. Vena, who will take the top job on Aug. 14, started his career in 1976 and was in the reckoning to lead Canadian National Railway Co (CNR.TO) after investors backed him for the role. He has worked under the late Hunter Harrison at Canadian National, who pioneered Precision Scheduled Railroading (PSR), which is commonly used across the industry today. Union Pacific, which connects 23 states in the western part of the country by rail, also elected Mike McCarthy as its board chairman. Reporting by Nathan Gomes and Amna Karimi in Bengaluru; Editing by Anil D'Silva and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Vena, Lance Fritz, Vena, Hunter Harrison, Mike McCarthy, Nathan Gomes, Amna, Anil D'Silva, Vinay Dwivedi Organizations: Union Pacific Corp, Wednesday, U.S ., Canadian National Railway Co, Canadian National, Union Pacific, Thomson Locations: Bengaluru

FRANKFURT/LONDON, July 26 (Reuters) - German industry is finding new ways to transport cargoes from coal to chemicals as increasingly frequent low water levels on the Rhine disrupt Europe's largest economy. At Kaub , the critical chokepoint for Rhine barges, water levels fell to their lowest this year earlier this week. ARTERY OF THE ECONOMYThe impact of low water levels is not limited to big business. But logistics firms are benefiting from rising demand for vessels adapted to lower river levels. "We expect, due to climate change, that the extremes on the river Rhine will happen more often," said Maickel Uijtewaal, general manager at Stolt-Nielsen (SNI.OL).

Persons: Uwe Arndt, Barbara Hoyer, majeure, Roberto Spranzi, Maickel Uijtewaal, Steffen Bauer, Christoph Steitz, Vera Eckert, Ludwig Burger, Patricia Weiss, Rene Wagner, Nette, Tom Kaeckenhoff, Matthias Inverardi, Vincent Flasseur, Barbara Lewis Organizations: Federal Waterways, Shipping Agency, Reuters Graphics, Cologne, BASF, Reuters Graphics Reuters, Kiel Institute, Deutsche Bank, Reuters, Stolt, Nielsen, HGK Shipping, Daniels, Midland Co, Chemicals, Thomson Locations: FRANKFURT, LONDON, Kaub, Europe, Reuters Graphics Germany, Ludwigshafen, HGK, Frankfurt, Berlin, Duesseldorf, London

☆ Boeing boosts monthly 737 production to 38, posts upbeat earnings
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

Shares of the company jumped 4% before the bell after the company also posted second-quarter results that beat Wall Street expectations. The push to build 38 MAXs a month comes amid heightened travel demand, as airlines seek to grow their fleets post-pandemic. Boeing Commercial Airplanes head Stan Deal said in June that the company would ramp up narrow-body production to 38 a month "very soon." Although Boeing set a deadline to ramp 737 production by the end of the year, executives signaled to its supply chain that the boost to 38 a month would begin in June. Those plans faltered in April when a supplier defect involving the improper installation of a 737 bracket was discovered, though Boeing maintained it would still ramp to 38 jets by year-end.

Persons: Dave Calhoun, Stan Deal, Refinitiv, Valerie Insinna, Abhijith Ganapavaram, Anil D'Silva Organizations: Boeing, Boeing Commercial Airplanes, Paris Air Show, Air India, Airbus, Thomson

At least one person drowned in the province of Rizal in the wake of the typhoon, the national disaster agency said. But authorities issued land warnings for several counties and cities in southern Taiwan including the major port city of Kaohsiung. Railway services between eastern and southern Taiwan will be suspended from Wednesday evening. More than 300 people have been evacuated in southern and eastern Taiwan as a precaution as Doksuri was expected to bring up to 1 metre (3.3 feet) of rainfall there. A Level II emergency response implies an oncoming typhoon could severely affect the country, according to the state council's national emergency plan for flood control and drought relief.

Persons: Doksuri, Talim, Karen Lema, Bernard Orr, Yimou Lee, Raju Gopalakrishnan Organizations: Reuters, Weather Bureau, Railway, Meteorological Centre, South China Sea, Meteorological Administration, Guangzhou Daily, Central Meteorological Administration, Thomson Locations: MANILA, BEIJING, TAIPEI, Philippines, Taiwan, China, Cagayan province, Rizal, Philippine, Kaohsiung, South, Fujian, Guangdong, Manila, Beijing, Tapei, Shanghai

☆ Union Pacific names former executive Vena as CEO, misses profit estimate
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

Vena, who will take the top job on Aug. 14, started his career in 1976 and was in the reckoning to lead Canadian National Railway Co (CNR.TO) after investors backed him for the role. He has worked under the late Hunter Harrison at Canadian National, who pioneered Precision Scheduled Railroading (PSR), which is commonly used across the industry today. Union Pacific, which connects 23 states in the western part of the country by rail, also elected Mike McCarthy as its board chairman. The company reported second-quarter profit of $2.54 per share, missing analysts' average estimate of $2.75 per share, according to Refinitiv IBES data, as its shipments fell. The railroad industry has been struggling with railcar shortages resulting in shipment delays and supply-chain disruptions.

Persons: Jim Vena, Lance Fritz, Vena, Hunter Harrison, Fritz, Mike McCarthy, Nathan Gomes, Amna, Anil D'Silva, Vinay Dwivedi Organizations: Union Pacific Corp, Wednesday, U.S ., Canadian National Railway Co, Canadian National, Soroban Capital Partners, Union Pacific, Thomson Locations: Bengaluru

[1/3] People embrace as they stand near damage to a road, after the heaviest rain to hit the Atlantic Canadian province of Nova Scotia in more than 50 years triggered floods, in Ellershouse, West Hants Regional Municipality, Nova Scotia, Canada July 23, 2023. REUTERS/John Morris/File PhotoOTTAWA, July 24 (Reuters) - Two of the four people missing after floods ripped through the Canadian Atlantic province of Nova Scotia over the weekend are dead, Premier Tim Houston said on Monday. The floods washed away roads, swamped buildings and damaged bridges and a Canadian National Railway (CNR.TO) track connecting with Halifax, Canada's fourth-largest port. Canadian National has already restored much of the damaged infrastructure, but some repairs will be delayed until the flood waters recede, company spokesman Scott Brown said. "With supply chains the reality is the longer the disruption lasts, the more severe the impact is," he said by phone.

Persons: John Morris, Tim Houston, Houston, Scott Brown, Lane Farguson, Farguson, David Ljunggren, Nia Williams, Aurora Ellis, Grant McCool Organizations: Atlantic, Ellershouse , West, Ellershouse , West Hants Regional, REUTERS, OTTAWA, Canadian, Monday, Police, Canadian National Railway, Canada's, Canadian National, U.S . Midwest, Thomson Locations: Atlantic Canadian, of Nova Scotia, Ellershouse ,, Ellershouse , West Hants, Ellershouse , West Hants Regional Municipality , Nova Scotia, Canada, Canadian Atlantic, Halifax, Europe, Asia, Ottawa, British Columbia

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