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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Deadly Portugal funicular crash likely due to problems with cable, report says

    Published by Global Banking and Finance Review

    Posted on September 7, 2025

    Featured image for article about Headlines

    LISBON (Reuters) -Problems with a cable likely caused a Lisbon funicular railwaypopular with tourists to hurtle down a hill, killing at least 16people and injuring another 22 when it crashed into a building, according to a preliminary report.

    The yellow tram-like carriage, which carries people up and down a steep hillside in the Portuguese capital, hit a building after leaving the track on Wednesday, just metres from its twin at the bottom of a steep hill.

    Portugal's Office for Air and Rail Accident Investigations on Saturday released its first investigative report into the crash.

    The report said the cabins had travelled "not more than about six meters" when they "suddenly lost the balancing force provided by the cable connecting them."

    "Cabin No. 2 suddenly reversed, its movement halting approximately 10 meters beyond due to its partial excursion past the end of the track and the burial of the underside of the trambolho (trolley) at the end of the cable trench," it added.

    "Cabin No. 1, at the top of Calcada da Gloria, continued its downward movement, increasing its speed.

    The report added: "The cabin's brakeman immediately applied the pneumatic brake and the hand brake to try to halt the movement. These actions had no effect in stopping or reducing the cabin's speed, and it continued accelerating down the slope."

    The report added an examination of the wreckage showed "the connecting cable had given way" at the attachment point to the cabin at the top of the hill.

    A final report will be published later.

    (Reporting by Graham KeeleyEditing by Bernadette Baum)

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