OTTAWA, April 23- Canada will require that older rail cars used for carrying crude oil be phased out by May 2017, the government said on Wednesday, moving ahead of the United States to ban the controversial cars in light of burgeoning oil-by-rail traffic and a deadly accident last year.» Read More
Jan 27- Teamsters union members have approved YRC Worldwide Inc's revised labor contract, clearing the way for the struggling trucking company to proceed with its refinancing plans, sending its shares up 13 percent before the bell.
Jan 24- Regional railroad operator Kansas City Southern missed fourth-quarter profit estimates on Friday amid weakness in its energy business, including lower coal shipments, sending its shares down more than 20 percent in early trading.
TORONTO, Jan 23- A rise in oil production has spurred a huge boom across North America in shipping crude via rail as energy producers look for alternatives to relieve congested pipelines.
Newer cars feature thicker steel and protective plates and fixtures, but the U.S. Department of Transportation has so far allowed older cars to stay in circulation, even as the Association of American Railroads has called for their "aggressive" retrofitting.
Jan 22- Norfolk Southern Corp on Wednesday reported a 24 percent increase in fourth-quarter earnings, beating Wall Street's expectations, as strong chemicals, construction materials and auto shipments more than offset a dip in coal volumes. Norfolk Southern said it worked on reigning in costs throughout the year.
WASHINGTON, Jan 16- Rail operators may route some fuel shipments around urban areas and slow down trains carrying some dangerous deliveries in the wake of a recent spate of fiery derailments, the U.S.
Jan 15- CSX on Wednesday posted a fourth-quarter profit that fell short of Wall Street's estimates as rising shipments of chemicals, autos and agricultural products failed to make up for weak coal volumes.
Jan 15- CSX Corp posted a smaller fourth-quarter profit that missed Wall Street estimates by a cent, as coal volumes stayed weak and its shares fell 3 percent. Coal shipments have been a problem for CSX and its competitor Norfolk Southern as the shift to natural gas caused utility coal stockpiles to surge as demand for coal from power producers declined.
Michael Ward, CSX CEO, projects modest growth for 2014 and discusses trends throughout Q4. Ward also expects to face some similar coal challenges experienced in 2013.
*Alcoa slides after results, Sears down on holiday sales. NEW YORK, Jan 10- U.S. stocks traded flat on Friday after the December payroll report came in much weaker than expected, raising new questions about both the strength of the economy and the aggressiveness of Federal Reserve stimulus.
*Alcoa slides after results, Sears down on holiday sales. NEW YORK, Jan 10- U.S. stocks edged lower on Friday after the December payroll report came in much weaker than expected, raising new questions about both the strength of the economy and the aggressiveness of Federal Reserve stimulus.
*Alcoa shares slide after results. NEW YORK, Jan 10- U.S. stocks were little changed in volatile trading on Friday as a weaker-than-expected payrolls report was partly blamed on frigid weather, leaving traders in search of further clues on the state of the economy.
*Alcoa shares slide after results. NEW YORK, Jan 10- U.S. stocks were set to rise slightly at the open on Friday even as the December jobs report came in much weaker than anticipated. "That's what markets do," said John Canally, investment strategist and economist for LPL Financial in Boston.
*Alcoa shares slide after results. NEW YORK, Jan 10- U.S. stock index futures climbed in low volume on Friday as traders awaited a key report on employment in the world's largest economy. "I expect the number to be strong and an initial surge to 1,850 on the S&P," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York.
*Alcoa shares slide after results. *Alcoa reported a massive quarterly loss on Thursday after recent declines in aluminum prices; its shares fell 7.5 percent in premarket trading.
TORONTO/ WASHINGTON, Jan 9- Political pressure to quickly improve the safety of crude oil rail shipments intensified in Washington on Thursday, while Canadian officials said two of the cars involved in the latest fiery derailment were of an older variety long faulted by regulators.
Jan 9- Workers at trucking company YRC Worldwide Inc represented by the Teamsters union rejected a contract extension that the company proposed, putting a plan to restructure its debt in jeopardy.
LONDON, Jan 9- Train accidents involving crude oil and other flammable liquids are becoming uncomfortably common. The fiery train derailment in New Brunswick on Tuesday is the third major accident involving crude by rail in just three months, and the fourth since July 2013.
NEW DELHI, Jan 9- India will soon invite foreign businesses to help expand its once-mighty but now outdated railways, government sources said, in a move that would mark the opening up of one of the country's last great state-controlled industries.
LONDON, Jan 8- Most crude oil being transported by rail in the United States and Canada is moving in tank cars that will rupture and catch fire if the train derails, according to accident investigations and reports filed with U.S. rail regulators, posing a lethal danger to railway workers and communities along the route.