Connect with us

Business

Amtrak is launching its faster NextGen Acela with better amenities after years of delays. Here’s what you need to know

Published

on

Amtrak is launching its faster NextGen Acela with better amenities after years of delays. Here’s what you need to know


Amtrak’s NextGen Acela.

Courtesy: Amtrak

Amtrak rolled out its NextGen Acela trains on Thursday, marking the next phase for the U.S.’s attempt at high-speed rail.

Dubbing itself as “America’s only high-speed rail service,” the new trains will run between Washington, D.C., and Boston, with a top speed of 160 mph. It’s an extension of Amtrak’s existing Acela trains, which run through the busy Northeast corridor and operate at speeds up to 150 mph on certain sections of the route.

According to Amtrak, more than 69 million passengers have traveled on Acela trains since the service began at the end of 2000. In fiscal year 2024, Amtrak said customers rode more than 3 million Acela trips, generating nearly $530 million in ticket revenue.

The new trains, contracted with French manufacturer Alstom, will replace the current Acela equipment. Amtrak said the NextGen Acela trains will accommodate 27% more customers and have enhanced features like free, high-speed Wi-Fi, as well as wider seats, a tilt system that enables a smoother ride and more daily departures.

At its launch, Amtrak said it will begin with five new trains, aiming to deploy all 28 by 2027.

Inside Amtrak’s NextGen Acela train.

Courtesy: Amtrak

“I think America deserves high-speed rail,” Transportation Secretary Sean Duffy said at a Wednesday event with Amtrak in Washington, D.C. “This is, at 160 miles an hour, one great step in that process.”

Like its predecessor, the Acela fleets offer only first class and business class seating. The rail company will operate both the older trains and newer models over the next few months as more of the NextGen trains are added.

“These trains are beautiful, they are fast, they are state-of-the-art, and they are American-made,” Amtrak President Roger Harris said at the Wednesday event. “There has never been a better way to travel by train in America.”

The parts for the new trains were manufactured in 29 states, with 95% produced within the U.S., Amtrak said, adding that the manufacturing generated more than 1,200 new jobs.

As of 2024, Amtrak owned 16 Acela trainsets.

A rocky track record

Amtrak employees walk past the Amtrak NextGen Acela, an all-new high speed train running between Washington, DC, and Boston, prior to the train’s inaugural departure from Union Station in Washington, DC, August 27, 2025.

Saul Loeb | AFP | Getty Images

The new trains are not without struggles. Amtrak originally planned on debuting them in 2022, but faced numerous delays.

In May, Amtrak said it was eliminating 450 roles to save $100 million in annual costs. That came after the White House reportedly forced CEO Stephen Gardner to resign in March as President Donald Trump called for changes. Amtrak has yet to name a new CEO.

The rail company has also lost money for years. In fiscal year 2024, Amtrak reported $3.6 billion in revenue compared with $8.8 billion in capital and operating expenses. It recovered 84% of its operating costs with ticket sales and other revenue, Amtrak added.

The new trains are also significantly slower than their high-speed counterparts in Europe and Asia, with Japanese bullet trains operating at a top speed of 200 mph.

It’s not America’s first attempt at the high-speed rail, either.

California has aimed for more than a decade to build a bullet train that can travel between Los Angeles and San Francisco in under three hours. That vision has since been trimmed, aiming to now connect just a 170-mile stretch of land with questions surrounding its viability.

Last month, Duffy formally terminated all of the California High-Speed Rail Association’s federal funding after a Federal Railroad Administration report determined that the project was unable to complete its goals, and on Tuesday, he pulled an additional $175 million from the project. The state of California has filed to sue the government for what it calls an “illegal” action with the canceled federal funding.

Private rail company Brightline has also attempted the high-speed rail formula in Florida. The company aims to privatize the rail system and has welcomed millions of passengers on its trains, which travel at 125 mph.

But Brightline has had its fair share of financial struggles. The company is facing looming debt and reported a net loss of roughly $549 million in 2024, marking an uncertain road ahead.



Source link

Business

Pine Labs, Groww & more: Top stocks to watch on April 16 – The Times of India

Published

on

Pine Labs, Groww & more: Top stocks to watch on April 16 – The Times of India


Citigroup initiated its coverage of Pine Labs with a buy rating and a target price of Rs 235. Analysts said that India’s payments fintech is on a monetization improvement trajectory, with leading players increasingly entrenched in respective core areas of leadership. While product, services and distribution build-outs into comprehensive plays will continue across the fintech ecosystem, large players don’t face significant disruption risks owing to: Across-the-board profitability push; rising regulatory costs and compliance requirements; and stickiness borne out of integration into enterprise business workflows. Further, while consumer payments have seen flux in competitive positioning in the past decade, there have been relatively fewer changes in positioning and leadership within segments in merchant payments.BoFA Securities has initiated its coverage of Groww (Billionbrains Garage Ventures) with a buy rating and a target price of Rs 235. Analysts said Groww is well positioned to capitalize on India’s retail investing tailwinds and they expect compounded annual growth rate (CAGR) for revenue at 30% over FY26-FY28. The company produces best-in-class profitability with further upside from operating leverage. Analysts have valued Groww at 39x FY28E price-to-earnings. They, however, said that the near-term risks for the stock are a weak capital market performance and the expiry of the six-month lock-in of shares post-IPO.Elara Capital initiated its coverage of Jindal Saw with a buy rating and a target price of Rs 280. Analysts said earnings recovery is expected over FY27–FY28, driven by water, and oil & gas demand. The company’s order book is at an all-time high, indicating strong visibility. They also feel Jal Jeevan Mission spending revival to drive domestic pipe demand, while the global pipeline capex is supported by energy security concerns. Analysts also pointed out that exports are rising, with diversification reducing dependence on domestic capex. The company’s capacity expansion to support margins and operating leverage. They feel the stock’s valuations are attractive, with rerating potential driven by execution and growth.Jefferies has downgraded Indus Towers to underperform from buy with a target price cut to Rs 375 from Rs 530. Analysts downgrade the stock due to site-renewal risks bunched up over second half of 2026 (H2CY26) and first half of 2027 (H1CY27) which could impact revenues and growth. Elevated capex levels due to higher growth and maintenance capex which will impact earnings growth as well free cash flow and payouts. They cut Indus Towers’ revenue and profit after tax (PAT) estimates by 2-6% to factor renewal risks post which stock offers 3% EPS growth and a 4% yield. They said risks on growth outlook should weigh on re-rating potential too.Kotak Institutional Equities has a buy on Ujjivan SFB with a target price of Rs 72. Analysts said that the RBI has returned Ujjivan SFB’s application for a universal bank license, citing need for further loan portfolio diversification. While the outcome is clearly not favourable, the regulator has flagged no concerns relating to governance, compliance or operational soundness. Analysts said their investment thesis did not factor in any benefit from a potential transition to a universal bank. Hence, they maintained a buy but remained watchful of any sharp changes in asset mix strategy in response to RBI’s feedback.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)



Source link

Continue Reading

Business

China’s hits economic growth target despite Iran war disruption

Published

on

China’s hits economic growth target despite Iran war disruption



The better-than-expected GDP data comes as Asian countries have been hit hard by the impact of the conflict.



Source link

Continue Reading

Business

Geelong fire: Blaze at Australian oil refinery to impact petrol supplies

Published

on

Geelong fire: Blaze at Australian oil refinery to impact petrol supplies



The fire has deepened fears over the nation’s petrol supplies amid a global crunch.



Source link

Continue Reading

Trending