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21Vianets stock price surged by over 30% at the start of trading, but the gains have since narrowed to 23%.On May 13, data from the Hong Kong Railway Corporation (MTR) showed that passenger traffic on the Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link has been steadily increasing since 2026. As of April, the average daily passenger volume exceeded 90,000, higher than the average of 80,000 per day in 2025, and the daily passenger volume has twice broken the record since the line opened. Hong Kongs Secretary for Transport and Logistics, Chan Mei-po, stated at a Legislative Council meeting on the 13th that the Hong Kong SAR Government is actively discussing with the MTR Corporation and relevant mainland authorities the operation and supporting arrangements for shops and facilities located in the waiting hall of the West Kowloon Station within the mainland port area under the "co-location arrangement" framework. At the same time, the government is continuously improving the service level of the high-speed rail to meet passenger travel needs and the long-term development needs of the high-speed rail.Market news: U.S. Energy Secretary Wright told lawmakers that Iran could reach weapons-grade enrichment levels "within weeks." He noted that while weaponization steps would still be required, the country is approaching a critical threshold.1. U.S. EIA gasoline inventories declined for the 13th consecutive week last week. 2. U.S. domestic crude oil production reached its highest level since the week ending February 13, 2026 last week. 3. U.S. domestic crude oil production saw its largest increase since the week ending February 6, 2026 last week. 4. U.S. EIA strategic petroleum reserves reached their lowest level since the week ending October 11, 2024 last week. 5. U.S. EIA strategic petroleum reserves saw their largest decrease since the week ending August 20, 1982 last week, marking the 7th consecutive week of decline.Market news: U.S. Energy Secretary Wright told lawmakers that Iran is "terribly close" to producing weapons-grade uranium.

California environmental inquiry costs Stellantis subsidiary $5,6 million

Charlie Brooks

Oct 14, 2022 15:04

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Thursday, state officials stated that Stellantis subsidiary FCA US will pay $5.6 million to settle an investigation into violations of California's air quality rules.


According to the California Air Resources Board (CARB), among the 30,600 affected vehicles are Ram 1500, Jeep Grand Cherokee, and Dodge Durango models from 2012 to 2018 equipped with 5.7L gasoline engines that did not fulfill certification emission requirements.


FCA will pay a $2.8 million civil penalty and an additional $2.8 million to enhance the number of electric school buses within the South Coast Air Basin. CARB reported FCA's cooperation with the investigation into the emissions problem discovered during state testing.


This instance demonstrates why CARB's compliance testing is so important for safeguarding the state's air quality and public health, according to CARB Executive Officer Steven Cliff.


Stellantis commented on Thursday, "While we accept responsibility, this does not align with our long-term goals," adding that the company is striving to create 25 electrified vehicles in the United States by 2030.


In June, FCA US pleaded guilty to criminal conspiracy and agreed to pay around $300 million to settle a diesel emissions fraud investigation conducted by the Justice Department.


The Justice Department asserted that FCA US utilized deceptive software features to evade regulatory monitoring and fraudulently help diesel vehicles in complying with pollution laws.


In a diesel class action case, FCA US already paid a $311 million civil penalty and more than $183 million in compensation to over 63,000 claimants.


This is the second settlement FCA and California have struck in the past four years.


In 2019, CARB and FCA negotiated a settlement regarding FCA's alleged use of "defeat device software" to circumvent emissions testing on over 100,000 diesel vehicles nationwide.


California was awarded over $78 million of the $500 million settlement.


FCA merged with the French carmaker PSA in 2021 to form Stellantis.

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