Transportation Road and Rail

  • *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.

  • ROME, April 11- To traders at the famous Royal FloraHolland flower market near Amsterdam, Vincenzo Crupi was just another businessman helping to make the Netherlands the largest exporter of cut flowers in the world. To the police, Crupi was a mafia suspect allegedly concealing drugs worth millions of dollars alongside fragrant bouquets he trucked to Italy.

  • 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...

  • Ogden comeback

    Ogden, Utah was once a hub of rail and industry. But beginning in the 1970’s, people left and the town slipped into decline. Reporter Mary Thompson heads there to see what’s working now in this town near the Wasatch Mountains.

  • Glencore putting Australian coal train fleet on the block

    The commodities giant aims to raise as much as $1.1-billion by selling the Hunter Valley rail business.

  • SAN FRANCISCO, March 14- Drivers for ride-hailing app Lyft will no longer face the imperative of owning a car under a rental program launched on Monday with General Motors Co. Depending on how many rides drivers complete, the cost will range from $99 a week plus 20 cents per mile to free for drivers who complete at least 65 trips a week, Zimmer said.

  • 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...

  • Cramer's Mad Dash: Rails 'have bottomed'

    Jim Cramer explains what to watch ahead of the open, including why rail stocks are cheap and he'd be willing to buy CSX.

  • Railroads under pressure: Expert

    Justin Long, Stephens railroad analyst, discusses the ripple effect of crude's crush and declining rail demand on the railroad sector.

  • Crude- by-rail hits snag

    CNBC's Morgan Brennan reports transporting oil by railroad has hit a detour as crude prices collapse and volumes for the biggest railroads have dropped.

  • Google-backed start-up aims to fix traffic

    Urban Engines wants commuters to travel during off-peak hours to reduce congestion in cities.