Road and Rail Railroads

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  • The U.S. Court of Appeals for the District of Columbia Circuit struck down parts of a 2008 law called the Passenger Rail Investment and Improvement Act, saying it violates the due process rights of freight carriers. Judge Janice Rogers Brown wrote on behalf of the unanimous three-judge panel that "there are limits to how far Congress may go to ensure Amtrak's...

  • BEIJING, April 27- China's rail freight volume fell 9.0 percent in the first quarter of 2016 from a year earlier to 791 million tonnes, the country's top economic planner said on Wednesday. The tepid reading comes after China posted its weakest economic growth in 25 years in 2015.. Many China watchers look to rail volumes along with other activity gauges such as...

  • Canada's biggest railroad, which reported a 4.3 percent fall in first-quarter revenue, said it now expected 2016 adjusted earnings per share to match last year's C $4.44. Reduced freight volumes due to a slump in oil prices, a string of bankruptcies in the coal industry and increased competition from trucks have been weighing on railroad operators in Canada...

  • CHICAGO, April 21- Norfolk Southern Corp on Thursday reported a quarterly profit that was lifted by cost cutting and measures taken to streamline operations, shaking off a 6 percent freight decline and sending the railroad's stock up more than 3 percent. Like all the other major U.S. railroads, the Norfolk, Virginia- based company has had to do that while...

  • CHICAGO, April 21- No. 4 U.S. railroad Norfolk Southern Corp on Thursday reported a higher quarterly profit that handily beat expectations, as cost cutting and measures taken to streamline operations offset a 6 percent decline in freight volumes. The Norfolk, Virginia- based company reported first-quarter net income of $387 million or $1.29 per share, up 25...

  • CHICAGO, April 21- Union Pacific Corp on Thursday posted an unexpectedly higher first-quarter profit as it cut costs to meet falling demand, but the No. 1 U.S. railroad said it remained challenged by low energy prices, a strong U.S. dollar and weak retail sales. Omaha, Nebraska- based Union Pacific reported an 8 percent decline in freight volumes from a year earlier,...

  • CHICAGO, April 21- Union Pacific Corp on Thursday posted an unexpectedly better quarterly profit as it cut costs to meet falling demand, but the No. 1 U.S. railroad said it remained challenged by low energy prices, a strong U.S. dollar and weak retail sales. For the first quarter of 2016, Omaha, Nebraska- based Union Pacific reported an 8 percent decline in freight...

  • *Raises dividend to C $0.50/ share from C $0.35. MONTREAL/ TORONTO April 20- Canadian Pacific Railway Ltd plans to pay out dividends and put its funds toward share buybacks rather than building a cash hoard after failing in a recent M&A quest, its chief executive said on Wednesday. "We're not going to sit on cash unless we have an idea of what we're going to do with it," CEO...

  • *Raises dividend to C $0.50/ share from C $0.35. April 20- Canadian Pacific Railway Ltd's plans to repurchase up to 5 percent of its shares may have fallen short of expectations, a week after Canada's second-largest railroad abandoned its bid to buy Norfolk Southern Corp.. As of Tuesday's close of C $189.95, the repurchase would be worth about C $1.31 billion.

  • *Raises dividend to C $0.50/ shr from C $0.35. *Q1 adj earnings/shr C $2.22 vs est. Canada's No. 2 railroad raised its quarterly dividend to 50 Canadian cents per share from 35 Canadian cents.

  • As of Tuesday's close of C $189.95, the buyback would be worth about C $1.31 billion. Canada's No. 2 railroad raised its quarterly dividend to 50 Canadian cents per share from 35 Canadian cents. CP's net income rose to C $540 million, or C $3.51 per share, in the three months ended March 31, from C $320 million, or C $1.92 per share, a year earlier.

  • CHICAGO, April 13- No. 3 U.S. railroad CSX Corp said on Wednesday its expects "mid-to-high single digit" freight volume declines in the second quarter due largely to slumping coal demand, but its top executive said there are signs America's industrial economy may avoid a recession. "During the fourth quarter, there was a risk of an industrial recession," chief...

  • CHICAGO, April 12- No. 3 U.S. railroad CSX Corp said on Tuesday that lower freight, in particular a 31 percent drop in coal volumes, had hurt its first-quarter profit and still expected coal to weigh on earnings throughout 2016.. The Jacksonville, Florida- based railroad posted first-quarter net income of $356 million, or 37 cents per share, down more than 19 percent...

  • CSX CEO: Tough environment but signs of life

    Michael Ward, CSX Corporation CEO, joins Closing Bell to discuss CSX earnings and business strategy.

  • An engineer with CSX passes through the Norfolk Southern Bellevue Terminal in Bellevue, Ohio.

    Canadian Pacific Railway said it had scrapped efforts to buy Norfolk Southern, almost six months after it launched its unsolicited $28 billion bid.

  • CHICAGO, April 7- The U.S. military on Thursday raised concerns with a federal rail regulator over the voting trust Canadian Pacific has proposed as part of its takeover bid for Norfolk Southern and said the deal could adversely affect the country's national defense. In a letter to the U.S. Surface Transportation Board dated April 7, the Department of Defense...

  • Freight trains originating in China have arrived in cities as far afield as Madrid and Tehran as China seeks to demonstrate the viability of a trans-continental service. China Railway, the state-owned railroad operator, now runs a regular weekly container train between Wuhan and Hamburg in Germany with other cities in both countries also developing...

  • LONDON, April 1- Cheap natural gas has slashed coal traffic across the U.S. rail network and in turn hit demand for diesel, demonstrating the interlocking relationship between the country's energy and transport systems. U.S. rail freight declined more than 6 percent in the first 12 weeks of 2016 compared with a year earlier, according to the Association of...

  • Amtrak train derails in Kansas

    Several cars on a train derailed west of Dodge City early Monday.

  • LONDON, March 10- Global distillate markets remain heavily oversupplied but the glut will not clear unless the world economy avoids recession and there is a renewed acceleration in freight demand. Freight movements picked up in January despite the exceptionally severe weather across much of the country that month, according to data from the U.S. Bureau of...