Industry News
 

Domestic News

 

New USMCA Trade Deal Could Increase Demand for Nearshoring in Mexico

Cross-border trade flows in North America will prosper as USMCA settles in, according to speaker at CBP symposium. As the coronavirus pandemic continues to disrupt international trade, Mexico stands to benefit from more companies moving manufacturing to North America, said Patrick Ottensmeyer, president and CEO of Kansas City Southern.
 

Uinta Basin Railway Green-Lighted

Drexel Hamilton Infrastructure Partners, LP and the State of Utah’s Seven County Infrastructure Coalition executed an agreement Sept 8 to advance the Uinta Basin Railway, a new railroad to be constructed and operated by Fort Worth, Texas-based Rio Grande Pacific Corp. to serve the mineral, agricultural, and construction industries of northeastern Utah’s Uinta Basin.
 

Layoffs Continue at UP

Union Pacific announced Sept. 4 that it plans to lay off an unspecified number of non-agreement and agreement employees, according to a report in the Omaha World-Herald. UP attributed "continuous efforts to streamline operations, while aligning our service product and resources to drive efficiency" as the reason.
 

Buyer of Schlumberger Frack Unit Eyes Lead Over Halliburton

Liberty Oilfield Services, which will become North America’s second-biggest fracking provider with the acquisiton of a Schlumberger unit, expects to one day topple Halliburton from the top spot.
 
 

International News

 

Rail receives €4.7bn in French Recovery Spending Package

France: The government announced on September 3 its intention to provide a financial support package for the rail sector worth €4.7bn as part of a post-pandemic recovery plan. Transport Secretary Jean-Baptiste Djebbari said that the funding package, which forms part of a wider national programme termed France Relance, would help to reinforce the investment priorities set out since the national railway reform programme concluded in June 2018.

 

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