Oct 20- Canadian Pacific Railway Ltd said on Monday that it had ended talks to buy CSX Corp and that the two companies planned no further discussions, sending shares of the No. 3 U.S. railroad operator down more than 3 percent. Neither side had confirmed the talks, initially reported by the Wall Street Journal a week ago. However, analysts had said service problems...» Read More
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.
*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.
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.
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.
WASHINGTON, July 14- Leaders of the U.S. energy and rail sectors have agreed to toughen tanker cars for future oil train cargo and to a schedule to retire older model cars that regulators have deemed unsafe, said two industry sources familiar with the plan. The Transportation Department is expected to outline that safety plan before the end of the month.
CARACAS, June 26- Colombia's biggest coal miner, Cerrejon, said late on Thursday it was transporting coal again from its mine to port after protesters ended a six-day blockade on its private railway line that took the company to the brink of defaulting on shipments.
June 26- Norfolk Southern Corp said it would require its customers to give the railroad company legal protection against damage caused by explosions or leakage of hazardous materials carried in older tank cars. Norfolk Southern said the legal protection, which applies to older DOT-111 tank cars built before late 2011, would take effect on July 15.
June 26- Norfolk Southern Corp said it would require its customers to give the railroad company legal protection against damages caused by explosions or leakage of hazardous materials carried in older tank cars, The Wall Street Journal reported on Thursday.
HOUSTON, June 24- U.S. regulators this autumn may impose new standards for rail tank cars that carry crude oil that are tougher than the latest design adopted by railroads in 2011, a top industry safety executive said on Tuesday.
June 24- Coal miners and power companies are both suffering as railroads struggle to clear a backlog of coal stuck in the Powder River Basin in Wyoming and Montana after the harshest winter in over a decade.
NEW YORK, June 16- As politicians debate the dangers of a massive increase in oil carried by rail in North America, railroads and energy producers are considering the same for natural gas.
WINNIPEG, Manitoba, June 10- Grain handlers are lobbying the Canadian government for even stricter rules requiring railroads to allocate thousands of railcars to them each week in hopes of stopping an unprecedented crop logjam from getting worse.
WASHINGTON, June 2- Oil industry studies concluding that Bakken crude oil is safe to move by rail under existing standards may underestimate the dangers of the fuel and should not be the last word, U.S. lawmakers and industry officials said on Monday.