U.S. passenger railroad Amtrak told Congress in a letter made public Tuesday it needs another US$1.475 billion bailout or it will be forced to ...
U.S. passenger railroad Amtrak told Congress in a letter made public Tuesday it needs another US$1.475 billion bailout or it will be forced to make sweeping service cuts and likely suspend some routes.
FILE PHOTO: An Amtrak passenger train sits in New York City's Pennsylvania Station, U.S. April 27, 2017. REUTERS/Mike SegarWASHINGTON: U.S. passenger railroad Amtrak told Congress in a letter made public Tuesday it needs another US$1.475 billion bailout or it will be forced to make sweeping service cuts and likely suspend some routes.
Amtrak, which has been devastated by the coronavirus pandemic, in April received US$1 billion in emergency funding for U.S. passenger railroad Amtrak. Amtrak said it will reduce its operating costs by approximately US$500 million including restructuring its workforce and controlling discretionary expenses.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Macy's announces US$1 billion bond offering to repay credit facilityMacy's Inc said on Tuesday it planned to raise US$1.1 billion in a bond offering, backed by a first mortgage on some of its properties, to repay ...
Read more »
Lufthansa says Germany approves stabilization packageGermany's new Economic Stabilization Fund (WSF) has approved a 9 billion euro (US$9.80 billion) stabilization package for Lufthansa , Germany's ...
Read more »
US small firms leave US$150 billion in coronavirus stimulus untappedWhen the U.S. government first rolled out forgivable loans to small businesses in early April under the Paycheck Protection Program, loan officers ...
Read more »
Tencent to invest US$70 billion in 'new infrastructure'Chinese tech giant Tencent Holdings will invest 500 billion yuan (US$70 billion) over the next five years in technology infrastructure including ...
Read more »
French carmaker Renault could close plants and cut jobs: unionFrench carmaker Renault could unveil job cuts and plants closures on Thursday as the company looks to save 2 billion euros (US$2.2 billion) in ...
Read more »
Ryanair vows to appeal against Lufthansa aid packageRyanair will contest a 9 billion-euro (US$9.9 billion) German aid package for Lufthansa, the budget airline's Chief Executive Michael O'Leary ...
Read more »