transportation

LIRR’s $2.5 billion Third Track opens after six decades of debate, planning and construction

The nearly 10-mile third track of the Long Island Rail Road through Nassau County is complete, officials said Monday morning. The $2.5 billion effort had been considered and debated by Long Island planners for more than six decades before construction began in 2019. “It’s the completion of a long, long journey,” Governor Kathy Hochul announced …

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Toyota CEO Akio Toyoda talks EV skepticism, ‘happy dance,’ his legacy

Toyota CEO Akio Toyoda speaks during a small media roundtable on September 29, 2022 in Las Vegas. Toyota LAS VEGAS — Toyota engine Last week, CEO Akio Toyoda simply said what he would like his legacy to be: “I love cars.” How well the 66-year-old racer, car enthusiast and business scion will be remembered when …

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Carnival shares fall on ballooning costs, dragging cruise stocks lower

The brand new Carnival Cruise Line ship Mardi Gras, docked in Port Canaveral, Florida on July 30, 2021. Joe Burbank | Orlando Sentinel | Tribune News Service | Getty Images Shares of Carnival fell below their pandemic lows on Friday after the cruise line released third-quarter results that showed higher costs associated with inflation, supply …

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China extends EV tax break; Li Auto shares fall after delivery outlook cut

Li Auto warned that the “supply chain constraint” will mean the company will deliver fewer cars than expected in the third quarter. Meanwhile, China has extended a tax exemption for new energy vehicles until the end of 2023 as it seeks to boost the growth of electric cars. CFOTO | Edition of the future | …

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Boeing to pay $200 million to settle charges in 737 Max probe

A Boeing 737 MAX 7 lands during an evaluation flight at Boeing Field in Seattle, Washington on September 30, 2020. Lindsey Wasson | Reuters Boeing will pay $200 million and then-CEO Dennis Muilenburg will pay $1 million to settle charges of deceptive investors following two fatal 737 Max jetliner crashes, the Securities and Exchange Commission …

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Ford warns investors of an extra $1 billion in supply chain costs during the third quarter

2023 Ford F-150 Raptor R Ford DETROIT – Ford engine warned investors on Monday that the company expects to commit $1 billion more than expected in the third quarter due to inflation and supply chain issues. Ford said supply issues led to parts shortages affecting about 40,000 to 45,000 vehicles, largely high-margin trucks and SUVs, …

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Volkswagen targets $70.1 billion to $75.1 billion valuation in planned Porsche IPO

The name of car manufacturer Porsche is attached to the curved facade of the new Porsche Center in Magdeburg. Stéphane Schulz | photo alliance via Getty Images volkswagen will price preferred shares in Porsche AG’s planned IPO at 76.50 euros to 82.50 euros ($76.61 to $82.62) per share, the automaker announced Sunday, generating proceeds between …

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FedEx Stock Tumbles After Delivering Terrible Earnings News

Text size FedEx disappointed investors Thursday with a surprise shortfall. Benoît Doppagne/BELGA/AFP via Getty Images fedex shares fell after the company doubly disappointed investors on Thursday announcing weak quarterly results earlier than expected while withdrawing its financial guidance for the full year. The stock fell more than 12% in after-hours trading after fedex (ticker: FDX) …

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Ray Dalio says watch out for rates reaching this level, because Wall Street stocks will take a 20% hit

After that CPI shock earlier in the week, Wall Street is showing a fresh batch of data on Thursday, with the overall retail sales figure coming in higher than expected. And a disastrous rail strike can be reversed. But there is little to cheer billionaire investor and hedge fund manager Ray Dalio who, in our …

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