Financial Archives - Page 225 of 388 - International Railway Journal

Financial

July 9, 2020 | Financial

Soussan steps down as Siemens Mobility joint CEO

MR Michael Peter will become sole CEO of Siemens Mobility with effective from July 10 following Ms Sabrina Soussan’s decision to step down as dual CEO and end her 20-year career with the company.

July 9, 2020 | Financial

Alstom-Bombardier Transportation: concessions proposed to appease EC

ALSTOM has committed to sell key product lines to assuage concerns raised by the European Commission (EC) on the effect of its acquisition of Bombardier Transportation on the European rail market.

July 8, 2020 | Financial

“Uncertainty” over First Group’s ability to continue operating

FIRST Group has acknowledged a “material uncertainty exists” about its ability to continue trading, as plummeting passenger numbers and an inability to sell its American subsidiaries resulted in a pre-tax loss of £299.6m in its 2019-20 annual results to March 2020 published on July 8.

July 8, 2020 | Financial

Sinara acquires controlling stake in Vagonmash

SINARA Transport Machines (STM), Russia, has completed a deal to acquire a 49% share of metro rolling stock manufacturer Vagonmash (VM), giving STM a controlling stake in the business.

July 7, 2020 | Financial

Russian government provides $US 953m to support rail transport

THE Russian government has provided Roubles 7.2bn ($US 100m) to support integral businesses in the rail sector during the coronavirus pandemic, with an additional Roubles 61.23bn planned.

July 7, 2020 | Europe

Vy and Bombardier agree maintenance contract for Swedish overnight trains

NORWEGIAN operator VY has awarded Bombardier Transportation a four-year contract to maintain its Swedish overnight trains, with an option for a two-year extension.

July 7, 2020 | Financial

World Bank approves €345m loan for Turkish freight corridors

THE World Bank has approved a €345m loan for Turkey’s Rail Logistics Improvement project, which aims to improve intermodal connectivity, and reduce emissions and costs along selected rail freight corridors in the country.

July 6, 2020 | Infrastructure

China invests Yuan 325.8bn in rail in first half of 2020

CHINA is on track to exceed its rail asset investment targets this year despite the impact of coronavirus, after investing Yuan 325.8bn ($US 46.3bn) in the first half of 2020, up Yuan 3.8bn (1.2%) on the same period last year.

July 3, 2020 | Financial

Trafikverket appoints Lloyd’s Register for assessment contract

ENGINEERING consultancy firm Lloyd’s Register has announced a SKr 28m ($US 3m) framework agreement with Sweden’s Transport Administration (Trafikverket), to provide third party assessment services for the country’s rail network.

July 3, 2020 | Financial

CN announces investments in Ontario, British Columbia and Nova Scotia

CANADIAN National Railway (CN) has announced a $C 765m ($US 563.6m) investment for the improvement and maintenance of infrastructure in the provinces of Ontario, British Columbia and Nova Scotia for this year.

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