The speed, flexibility and economy of road transport have caused a precipitous decline in rail freight across the world.

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Freight transport accounts for 40% of the growth in demand, partly because trucks are growing more efficient at a slower rate than cars.

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At present less than 6% of total British freight transport is accounted for by rail, compared with 15% in France and 21% in Germany.

ECONOMIST: Transport

Just about every major oil services company and at least one major integrated oil company have been swept up in an ongoing U.S. government investigation Swiss freight-forwarding company Panalpina World Transport Holding.

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In 2002, Patrick Corporation joined with Toll Holdings, a transport company, to buy the rail-freight business of the federal government and that of the state of New South Wales.

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Much larger sums, however, will be needed if the railways are to meet the targets set in the government's ten-year transport plan of a 50% increase in rail passengers and an 80% increase in rail freight.

ECONOMIST: Refinancing the railways