Report of China rail section collapse jolts shares

Part of a central China high-speed railway line that had already undergone test runs collapsed following heavy rains, state media reported, jolting railroad shares and reviving worries over safety.

Rescuers in southern China were racing against time on Monday to reach more than 40 coal miners trapped underground at the weekend in two flooded pits, state media said.In the southern Guangxi region, heavy rains hampered efforts to reach 19 workers trapped in a colliery in Heshan city which collapsed Saturday due to torrential downpours pummelling the area, Xinhua news agency reported.Three bodies have already been pulled from the pit, the report said.

China launched services Wednesday on the world's longest high-speed rail route, the latest milestone in the country's rapid and — sometimes troubled — super fast rail network.

Thirteen people died and 33 others went missing as tropical storm Fanapi swept across southern China this week, triggering severe flooding and mudslides, state media reported Wednesday.Fanapi made landfall on the mainland Monday, one day after slamming Taiwan with heavy rains, killing two people and leaving more than 100 injured on the island.All of the deaths occurred in southern China's Guangdong province, which saw its worst rains in a century, the official Xinhua news agency said.

By BubbleBustInvesting.com:High-fliers Netflix (NFLX) and Baidu (BIDU) reported record second quarter profits on Monday afternoon. Netflix reported a profit of $68.2 million or $1.26, and revenue of $789 million, beating analysts’ estimates on earnings but missing slightly on revenues; guidance trailed estimates.

The remnants of Tropical Storm Matthew have dumped torrential rains on southern Mexico and much of Central America, killing at least four people as it let loose floods and mudslides across the water-logged region.In El Salvador, a 32-year-old man was killed when he was swept away by a swollen river, and another person was missing, authorities said.In Mexico's southern Chiapas state, three Tzeltal Indians, two of them children, perished when their house collapsed during a heavy rainstorm.

[AP] - China's Railway Ministry exaggerated the speed that a showcase rail link between Beijing and Shanghai is capable of operating at, a report said Wednesday, citing a retired top engineer.