Latest news with #High-SpeedRailProject
Yahoo
28-02-2025
- Business
- Yahoo
Amtrak seeking partner to build 240-mile Texas high-speed rail project
AUSTIN (KXAN) — Amtrak is soliciting a partner to help bring high-speed rail to the Lone Star State. Amtrak procurement documents published this week revealed the national passenger railroad company is releasing a request for qualifications (RFQ) to prospective firms for the Dallas to Houston High-Speed Rail Project. That project marks a 240-mile endeavor poised to linking the two metropolitan areas within 90 minutes. The trains are expected to travel up to 205 miles per hour, and an intermediate stop in Brazos Valley is planned as part of the project proposal, according to Amtrak RFQ details. 'Amtrak is working to confirm the viability of the concept of a dedicated high-speed rail route between Dallas and Houston,' a spokesperson told KXAN. 'As part of these efforts, we are seeking to identify the interest of potential partners through responses to this Request for Qualifications process.' The selected delivery partner will assist in managing the program, design work, construction, quality management and procurements, among other responsibilities noted in the RFQ. Notice-for-the Texas-High-Speed-Rail-HSR-Project-Delivery-Partner-Upcoming-ProjectsDownload High-speed rail is a transportation area that has captured a growing number of Texas officials' interest in recent years. State Rep. John Bucy III, D-Austin, filed House Bill 483 back in November that, if passed, would allocate state funding to support the development of high-speed rail linking Dallas, Austin and San Antonio along the Interstate 35 corridor. Bucy told KXAN in November ample mobility choices in Central Texas will help bolster the region and state's economy while also minimizing congestion and gridlock. State Sen. Sarah Eckhardt, D-Austin, filed an accompanying bill in the Texas Senate on Nov. 21. Texans and those visiting our great state deserve robust options for travel and commuting. The IH-35 corridor is a major hub for work and recreation, and it only makes sense that high speed rail is an option for this corridor. You could live and work in Dallas, go to a meeting in Austin, have dinner in San Antonio, and be home in time to put your kids to bed. All of that without having to sit in heavy traffic or go through airport security. It's time for Texas to lead once more on infrastructure, including on transit. Making Texas as good as its promise must include extensive and modern transit systems. State Rep. John Bucy III (D-Austin) Earlier in the fall, Travis County Judge Andy Brown and Bexar County Judge Peter Sakai announced the creation of the Texas Passenger Rail Advisory Committee, with the goal of advocating for expanded rail funding in the 2025 Texas legislative session. Both Brown and Sakai championed the alternative transit mode as a means of bridging the San Antonio and Austin metro areas, minimizing congestion and traffic-related pollution and promoting economic opportunities within the transit corridor. That isn't to say there hasn't been some pushback from state leaders. Rep. Cody Harris, R-Palestine, filed HB 1402 on Nov. 19, which, if passed, would prohibit allocating funds 'to pay for the alteration of a roadway related to the construction of a high-speed rail project operated by a public or private entity.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
24-02-2025
- Business
- Yahoo
Gold Holds Near Record After Surge in Exchange-Traded Funds
(Bloomberg) -- Gold held close to a record following a surge in holdings of exchange-traded funds backed by the precious metal. Trump Targets $128 Billion California High-Speed Rail Project Trump Asserts Power Over NYC, Proclaims 'Long Live the King' Trump to Halt NY Congestion Pricing by Terminating Approval Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Bullion traded around $2,940 an ounce on Monday, just shy of a fresh peak reached on Thursday. Prices have risen for the past eight weeks, the longest streak since 2020. Gold-backed ETFs saw the biggest net inflows since 2022 last week. Mounting concerns over US President Donald Trump's disruptive trade and geopolitical agendas are driving demand for gold as a haven asset. Goldman Sachs Group Inc. last week raised its year-end target for the metal to $3,100, saying that central-bank buying would be a key driver, as well as expanding ETFs. The US dollar dropped early on Monday, before paring losses, after reports on Friday showed US business activity slowed and consumer confidence waned, while expectations for inflation surged. Swaps markets priced in more rate cuts by the Federal Reserve this year, with traders expecting a first reduction for 2025 in July, rather than September. A weaker dollar and lower borrowing costs typically benefit gold. Data this week includes the Federal Reserve's preferred inflation metric on Friday, which is expected to cool to the slowest pace since June. However, glacial progress on taming price pressures overall will keep policymakers cautious about lowering rates further. Spot gold was little changed at $2,936.21 an ounce as of 10:51 a.m. in London. The Bloomberg Dollar Spot Index was down little changed, after three weeks of losses. Silver rose, while platinum and palladium declined. --With assistance from Yihui Xie. Walmart Wants to Be Something for Everyone in a Divided America Meet Seven of America's Top Personal Finance Influencers Can Dr. Phil's Streaming Makeover Find an Audience in the MAGA Era? How Med Spas Conquered America India's Most Reliable Retirement Plan: Selling Grandma's Jewelry ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
21-02-2025
- Politics
- Yahoo
Ugandan Court Charges Opposition Leader Besigye With Treason
(Bloomberg) -- A Ugandan court charged opposition leader Kizza Besigye with treason over an alleged plot to end President Yoweri Museveni's four-decade rule of the East African nation. Trump to Halt NY Congestion Pricing by Terminating Approval Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Trump Targets $128 Billion California High-Speed Rail Project Child Migrant Watchdog Gutted in DOGE Cuts Seated in a wheelchair, Besigye appeared in a magistrates court in the capital, Kampala, on Friday, three weeks after Uganda's Supreme Court barred his trial in a military tribunal for the same offense. The charge of treason carries the death penalty. The court charged Besigye, as well as an aide and a military officer, with plotting to overthrow Museveni, his lawyer Caleb Alaka said by phone from Kampala. None of them were allowed to enter a plea because capital offenses can only be heard by the High Court, he said. Video footage of the court appearance was tweeted by Winnie Byanyima, the head of UNAIDS and Besigye's wife. Besigye has previously denied any wrongdoing. Uganda is preparing to hold elections in January 2026. Besigye, 68, has unsuccessfully tried to unseat Museveni — who has been in power since 1986 — in four elections. The opposition leader was abducted along with his aide in neighboring Kenya in November and driven to Kampala for trial. The retired former soldier previously served as a personal physician to octogenarian Museveni during the war that brought him to power. He served as a minister in Museveni's initial government and held senior army positions before the two fell out before elections in 2001. After being charged, Besigye ended a hunger strike that he had begun last week in protest at his 'illegal' detention without being charged, his lawyer Erias Lukwago said in remarks broadcast on Radio Simba. He's scheduled to appear in court again on March 7. Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Med Spas Conquered America The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory Crypto, Inflation, Bonds: Your Investment Guide to a Risky Year Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival ©2025 Bloomberg L.P.
Yahoo
21-02-2025
- Business
- Yahoo
Euro-Zone Private Sector Barely Grows With Germany Offering Hope
(Bloomberg) -- Business activity in the euro area hardly grew again in February, reinforcing fears that the bloc remains mired in stagnation. Trump to Halt NY Congestion Pricing by Terminating Approval Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Trump Targets $128 Billion California High-Speed Rail Project Child Migrant Watchdog Gutted in DOGE Cuts The Composite Purchasing Managers' Index by S&P Global held at 50.2, just above the 50 threshold separating expansion from contraction. Analysts had predicted a reading of 50.5. 'The somewhat milder recession in the manufacturing sector is only just being overcompensated for by the barely noticeable growth in the services sector,' Cyrus de la Rubia, an economist at Hamburg Commercial Bank, said Friday in a statement, adding that the figures don't point to a recovery. The euro held an earlier drop, trading about 0.2% lower at $1.0476, as investors added to bets on European Central Bank interest-rate reductions. Money markets are now pricing 78 basis points of easing this year compared with 74 basis points on Thursday. Bonds held gains, with the German 10-year yield three basis points lower at 2.50%. European growth has been hobbled by a manufacturing malaise, political turmoil in its two biggest member-states and heightened uncertainty from the war in Ukraine to persistent threats of US trade tariffs The latest jolt came from President Donald Trump and his administration as they signaled much weaker support for European defense in the future, necessitating much higher military outlays by the continent itself. What Bloomberg Economics Says... 'The PMI survey for February suggests the hit to the euro-area economy from the rise in uncertainty created by Trump's tariff threats has been modest. However, the coast is still far from clear as the details of his proposed measures remain hazy. In any case, putting trade policy aside, the expansion of the economy has been lackluster for some time and it could still benefit from further monetary easing.' —David Powell, senior euro-area economist. Click here for full REACT The euro area's PMI has been fluctuating around 50 since June, with a series of ECB cuts since last June helping prevent a downturn. Long-awaited rebounds in consumer demand and corporate spending, however, have failed to materialize, even as inflation looks set to return to 2% this year. Germany has begun to perform a little better ahead of Sunday's snap ballot, where it's hoped that the likely next chancellor, conservative Friedrich Merz, will cut red tape and reinvigorate investment. Its composite PMI beat analyst expectations to reach 51. De la Rubia was upbeat on the prospect of a new course for the region's top economy, saying that the next German government may 'be able to act after the elections, which should also provide a positive impetus for the euro zone as a whole.' By contrast, French data wrong-footed economists with a reading of just 44.5 - well below January's 47.6. That reflected a particularly poor showing in services. Nonetheless, the data revealed that gauges for services inflation across the region either rose or stayed elevated. 'With just two weeks to go before the ECB meeting, the price front is sending bad news,' said de la Rubia. 'This is partly due to the fact that wage settlements continue to be above average.' The ECB has become increasingly certain that price gains are headed back toward the 2% goal in the coming months, allowing them to continue lowering borrowing costs. Executive Board member Isabel Schnabel, however, has warned that after five moves since last June, the central bank is nearing the point where it might pause or halt rate cuts. PMIs are closely watched by markets as they arrive early in the month and are good at revealing trends and turning points in an economy. A measure of breadth of changes in output rather than depth, business surveys can sometimes be difficult to map directly to quarterly GDP. Separate data showed continued private-sector growth in the UK, though the composite PMI reading was less than expected. The US index is seen advancing to 53.2 when numbers are released later Friday. --With assistance from Mark Evans, Joel Rinneby and Alice Gledhill. (Updates with Bloomberg Economics and UK data in final paragraph.) Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Med Spas Conquered America The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory Crypto, Inflation, Bonds: Your Investment Guide to a Risky Year Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
21-02-2025
- Business
- Yahoo
Wealth Tax Backed by French Lawmakers Is Panned by Government
(Bloomberg) -- French Budget Minister Amelie de Montchalin criticized a bill adopted by the National Assembly for a 2% wealth tax, saying the measure — which is unlikely to become law — would hurt investment and job creation. Trump to Halt NY Congestion Pricing by Terminating Approval Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Trump Targets $128 Billion California High-Speed Rail Project Child Migrant Watchdog Gutted in DOGE Cuts The measure 'would have one grave consequence for our country and that is that the investment, entrepreneurship and corporate growth that we are trying to promote because it's good for the French, for jobs and everyone's wealth, would drop, and that's not tolerable,' she said Friday in an interview on TF1 television. Montchalin spoke hours after the lower house of parliament adopted the proposal for a 2% levy on the country's ultra-wealthy citizens. The so-called 'Zucman tax,' named for French economist Gabriel Zucman, was backed by green and leftist lawmakers but not by the government, centrist, conservative or far-right groups. It's not expected to go any further in the legislative process. Calling the vote a 'historic victory' in a post on X, Zucman said it represents a 'giant step forward for France and could inspire other countries.' He backs adoption of a 2% global minimum wealth tax on billionaires. The measure would apply to 0.01% of the country's richest citizens, or about 4,000 people who are worth more than €100 million ($105 million) each, according to the proposal, which says that the wealthiest generally pay proportionally less tax than most French because of their use of tax optimization methods. The levy could bring an estimated €15 billion to €25 billion a year into state coffers and would apply only to those not paying enough tax through other existing levies, according to the version of the law adopted by deputies. It would apply to trusts and holding companies often used for tax avoidance, it said. Yet the measure would need to be debated and win support in the French Senate, which is dominated by right-of-center lawmakers, and it wouldn't be expected to pass. Tax Avoidance Montchalin said the government plans to start discussions in a couple of months with legal and other experts to find ways to fight the over-use of tax optimization strategies by the country's wealthiest citizens. 'This is the start of the process,' she said. 'We'll take measures so that this type of avoidance ceases.' The minister reiterated President Emmanuel Macron's longstanding policy that the country's business community wants political, economic and fiscal stability, and that when taxes are too high, the wealthy choose to leave the country. 'Fiscal stability isn't to create new taxes,' she said. 'There will be mechanisms to ensure that those who steadfastly avoid taxes or don't pay taxes on revenue that is from private income will be taxed.' France is home to some of the world's wealthiest people, including LVMH founder Bernard Arnault and L'Oreal SA heiress Francoise Bettencourt Meyers. Taxing the rich was a hot-button topic during last year's French election campaign, which resulted in a deeply divided parliament and weak coalition government. Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Med Spas Conquered America The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory Crypto, Inflation, Bonds: Your Investment Guide to a Risky Year Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival ©2025 Bloomberg L.P.
