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CMA CGM’s profit jumps on buoyant shipping demand
Date: November 9, 2024
By Gus Trompiz PARIS (Reuters) – Strong global demand pushed up CMA CGM’s third-quarter profit while the current quarter was seeing a rush to ship goods from China, the shipping group said on Friday as it played down the risk to trade from possible U.S. tariffs. The French company reported a net profit of $2.73...
Fraport says germany’s high costs slow travel recovery at Frankfurt airport
Date: November 5, 2024
(Reuters) -Frankfurt Airport operator Fraport posted on Tuesday a 2% core income miss and a modest increase in its passenger numbers during the third quarter, as high location costs for German carriers hindered a recovery in travel demand. Shares in Fraport fell as much as 3% in morning trading. Fraport said its core income (EBITDA)...
EU must spend 39 billion euros a year for net zero transport targets, campaign group says
Date: November 5, 2024
By Alessandro Parodi (Reuters) – Europe needs to spend 39 billion euros ($42.46 billion) a year to reach its net zero targets in the transport sector by 2050, campaign group Transport & Environment (T&E) said on Monday, issuing five key recommendations for the European Union. The EU is seeking a more coordinated industrial policy involving...
Air-taxi maker lilium to file for insolvency after failed fundraising efforts
Date: November 4, 2024
By Abhijith Ganapavaram (Reuters) -German air-taxi maker Lilium said on Monday it would file for insolvency “soon”, after efforts to solve its cash-crisis failed to yield results. The move highlights the difficulties faced by startup aviation firms in an industry that is capital intensive and has high entry barriers. It also comes as air-taxi makers...
EU must spend 39 billion euros a year for net zero transport targets, campaign group says
Date: November 4, 2024
By Alessandro Parodi (Reuters) – Europe needs to spend 39 billion euros ($42.46 billion) a year to reach its net zero targets in the transport sector by 2050, campaign group Transport & Environment (T&E) said on Monday, issuing five key recommendations for the European Union. The EU is seeking a more coordinated industrial policy involving...
Uber shares slide as slowing bookings growth spooks investors
Date: October 31, 2024
By Akash Sriram (Reuters) -Uber Technologies signaled a further slowdown in its mainstay app-based taxi business as it forecast fourth-quarter gross bookings below Wall Street estimates, sending its shares down nearly 8%. Bookings growth, a key measure of ridership for online taxi operators, slowed to a more than one-year low in the third quarter and...