ANKARA, Turkey— Turkey inaugurated a high-speed rail service Friday linking Ankara to Istanbul which will cut travel time between the country's main two cities by half.» Read More
July 24- Union Pacific Corp, the largest publicly traded U.S. railroad, reported a 17 percent rise in quarterly profit, mainly due to higher shipments of agricultural products and coal. Coal is Union Pacific's largest cargo in terms of volumes. Union Pacific has benefited from a rise in grain shipments meant for export to Mexico and China.
July 24- Union Pacific Corp, the largest publicly traded U.S. railroad, reported a 17 percent rise in quarterly profit, partly due to a rise in shipments at its agricultural products business. Net income rose to $1.29 billion, or $1.43 per share, in the quarter from $1.11 billion, or $1.18 per share, a year earlier. Total revenue rose 10 percent to $6.02 billion.
WASHINGTON, July 23- The U.S. ethanol industry pushed back on Wednesday against what they called a "one size fits all" approach to proposed federal rules for shipping fuel by rail, saying regulators must distinguish between the often corn-based biofuel and crude oil.
NEW YORK, July 23- The U.S. Department of Transportation on Wednesday proposed new safety rules for hauling crude oil by rail after a string of explosive accidents, in a move that could impact railroads, drillers, refiners and railcar makers amid an energy boom.
Wick Moorman, Norfolk Southern CEO, discusses his company's quarter, low coal inventories, and the new safety precautions for shipping oil via railroads.
The Department of Transportation has proposed new safety rules for moving crude oil and ethanol by rail. CNBC's Morgan Brennan looks at how this influencing rail stocks.
WASHINGTON— Responding to a series of fiery train crashes, the government proposed rules Wednesday that would phase out tens of thousands of older tank cars that carry increasing quantities of crude oil and other highly flammable liquids through America's towns and cities.
NORFOLK, Va.— Norfolk Southern executives are optimistic about the economy after delivering a 21 percent rise in second-quarter profit as the railroad hauled more freight. The Norfolk, Virginia- based railroad reported net income of $562 million, or $1.79 per share, in the quarter.
*2nd- qtr net profit $1.79/ shr vs est $1.74. July 23- U.S. railroad operator Norfolk Southern Corp reported a better-than-expected second-quarter profit, helped by higher volumes across its businesses as the economy improves.
BISMARCK, N.D.— North Dakota's congressional delegation is pressing Canadian Pacific Railway to provide details of its backlog of grain shipments, saying farmers need detailed information with fall harvest fast approaching. But Sen John Hoeven, R- N.D., Sen. Heidi Heitkamp, D- N.D., and Rep.
TORONTO, July 21- Canadian National Railway Co, the country's largest rail operator, reported a big spike in profit on Monday as it moved record volumes of goods and made a swift recovery from last quarter's brutal winter weather.
TORONTO, July 21- Canadian National Railway Co, the country's largest rail operator, reported a big jump in profit on Monday and bolstered its 2014 financial outlook, reflecting a swift recovery from last quarter's tough winter weather.
HOUSTON, July 21- California refiners remain far behind peers elsewhere in the country in replacing expensive imports with cheaper North American crudes from a new production boom. More than half of the 1.7 million barrels of crude processed by California refineries each day is imported, largely from Saudi Arabia, Ecuador, Iraq and Colombia.
The Obama administration is rolling out a series of reforms including lower speeds and thicker walls to improve rail safety. Biz isn't happy.
WASHINGTON, July 18- North Dakota's Bakken oil patch has thrived thanks in large part to the once-niche business of hauling fuel on U.S. rail tracks.
July 18- Railroad operator Kansas City Southern reported higher-than-expected quarterly revenue as it shipped more agriculture products and automobiles. Kansas City Southern operates on a unique, north-south route in central U.S. and derives half of its annual revenue from cross-border business with Mexico.
July 18- Railroad operator Kansas City Southern reported higher quarterly net income and revenue, helped by a jump in agriculture and automotive shipments. Net income available to common stockholders jumped to $129.8 million, or $1.18 per share, in the second quarter ended June 30, from $15.4 million, or 14 cents per share, a year earlier.
TORONTO, July 17- Canadian Pacific Railway Ltd reported stronger-than-expected results on Thursday, and said rising freight volumes and prices should push already record results to new highs later this year. The shares of the Calgary- based railway, which have risen some 20 percent since its last quarterly report, surged as much as 4.7 percent on the news.
A strike on New York's Long Island Rail Road has been averted after a tentative agreement was reached, a labor union said on its website.
ALBANY, N.Y.— As many as 44 trains a week, each loaded with at least a million gallons of volatile crude oil from North Dakota's Bakken region, move through upstate New York, according to documents released Tuesday by the state.