Transportation

  • November 15, 2012

    EIB Lends First €200M For Cairo Metro Expansion

    The European Investment Bank has signed documents for the first €200 million ($255.64 million) of what is expected to be a €600 million loan to extend the Cairo metro system, delivering on a new commitment to keep funding flowing to the region in the wake of the country's political turmoil.

  • November 14, 2012

    Toyota Recalls 2.7M Vehicles Over Steering, Pump Issues

    Toyota Motor Corp. on Wednesday recalled 2.77 million vehicles worldwide over separate problems with their steering shafts and water pumps, a setback that comes just one month after the automaker issued its largest-ever recall for a single car part.

  • November 14, 2012

    NTSB Highlights Top Transport, Infrastructure Safety Issues

    The National Transportation Safety Board on Wednesday urged policymakers to invest more in transportation safety and infrastructure and do more to curb substance-impaired or distracted driving — issues the agency highlighted as top transportation and public safety priorities in 2013.

  • November 14, 2012

    Oil Shipper Overseas Shipholding Enters Bankruptcy

    Oil tanker giant Overseas Shipholding Group Inc. docked in Delaware bankruptcy court on Wednesday, citing weak demand for oil amid the global recession and a tax issue that has cast doubt on its financial reporting.

  • November 13, 2012

    Icahn Could Revive Merger Bid With 10% Stake In Railcar Co.

    Activist investor Carl Icahn picked up a 9.99 percent stake in railcar manufacturer Greenbrier Cos. Inc., according to a securities filing made Tuesday, stoking suspicion that he would try to force another buyout of the company after a failed try in 2008.

  • November 9, 2012

    MGM, CBS Chiefs' SPAC Takes Off With $430M In-Flight Deal

    A fund founded by former Metro-Goldwyn-Mayer Studios Inc. Chairman Harry Sloan and CBS Corp. entertainment chief Jeff Sagansky on Thursday closed a $430 million deal to create a new in-flight entertainment group, beating by three months a deadline to return $190 million to investors.

  • November 9, 2012

    France OKs Eurotunnel's €65M English Channel Ferry Buy

    France's competition watchdog said Thursday it had given the green light to Groupe Eurotunnel SA's €65 million ($84 million) acquisition of three English Channel ferries from the now-liquidated ferry operator SeaFrance SA, after Eurotunnel promised to keep separate its rail and ferry units.

  • November 8, 2012

    €230M EU Project Bond Test Phase Comes Online

    The pilot phase of the Europe 2020 Project Bond Initiative was finally rolled out on Wednesday when the European Investment Bank signed off on the completed implementation plan for the €230 million ($293 million) infrastructure bond guarantee program.

  • November 5, 2012

    US Suzuki Distributor Skids Into Bankruptcy Amid Low Sales

    American Suzuki Motor Corp. filed for Chapter 11 protection Monday, saying it would stop selling new automobiles in the U.S. and blaming low sales volumes and increased federal regulatory control over the American auto industry for its financial decline.

  • October 29, 2012

    UK Competition Regulator Probes Eurotunnel's €65M Ferry Buy

    The United Kingdom's competition authority said Monday that it was investigating Groupe Eurotunnel SA’s €65 million ($84 million) acquisition of ferries from the now-liquidated ferry operator SeaFrance SA, citing concerns that the merger reduced competition among English Channel transport services providers and may cause fare hikes.