The Federal Railroad Administration has terminated the $63.9 million grant awarded to Amtrak under the Corridor Identification and Development Program for the Amtrak Texas High-Speed Rail Corridor project.
Previously known as the Texas Central Railway project, it was originally announced as a purely private venture, but as the cost estimates dramatically increased, the proposal became dependent on Amtrak and federal funding for development work.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.