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Road and Rail Railroads

  • DETROIT, Aug 23- Cheap gasoline is squeezing U.S. bus companies and the Amtrak passenger rail system that bet more consumers would embrace alternatives to driving for trips shorter than 400 miles, a study by researchers at DePaul University concluded. Since 2014, eight of the 50 most heavily-traveled routes between cities 120 to 400 miles apart have lost...

  • DETROIT, Aug 23- Cheap gasoline is squeezing U.S. bus companies and the Amtrak passenger rail system that bet more consumers would embrace alternatives to driving for trips shorter than 400 miles, a study by researchers at DePaul University concluded. Since 2014, eight of the 50 most heavily-traveled routes between cities 120 to 400 miles apart have lost...

  • Aug 22- Online travel provider Expedia Inc is looking to build up its rail booking services in the United States, Chief Executive Dara Khosrowshahi said in an interview with Reuters on Tuesday. The Bellevue, Washington- based company, which offers online bookings of hotels, flights and cars for travelers, is working to expand those capabilities to passenger...

  • What's working: Transport sector plays

    Donald Broughton, Broughton Capital, weighs in on which companies are positioned to profit in the transport space.

  • Aug 17- CSX Corp Chief Executive Hunter Harrison hit back at dozens of trade groups that urged a federal probe of service disruptions at the No. 3 U.S. railroad, saying their complaints were "grossly exaggerated," according to a letter seen by Reuters on Thursday. The Rail Customer Coalition this week asked federal rail regulators to investigate CSX's "chronic...

  • Harrison, a septuagenarian known for turnarounds of Canadian railroads, also slammed the Rail Customer Coalition for not discussing its complaints with him first. A Rail Customer Coalition spokesman said its letter reflected "broad agreement" among its members- which include chemical and agricultural companies, steel makers and beer producers- that "...

  • Aug 17- CSX Corp Chief Executive Hunter Harrison hit back at dozens of trade groups that urged a federal probe of service disruptions at the No. 3 U.S. railroad, saying their complaints were "grossly exaggerated," according to a letter seen by Reuters on Thursday. The Rail Customer Coalition this week asked federal rail regulators to investigate CSX's "chronic...

  • The letter, from the Rail Customer Coalition sent on Monday, is the latest challenge to CSX Chief Executive Hunter Harrison's effort to ramp up productivity at the Jacksonville, Florida- based railroad and fulfill investor expectations for substantially better financial performance. Senators John Thune of South Dakota and Bill Nelson from Florida, and...

  • Net income for Omaha, Nebraska- based Berkshire fell to $4.26 billion, or $2,592 per Class A share, from $5 billion, or $3,042 per share, a year earlier. Operating profit declined 11 percent to $4.12 billion, or $2,505 per Class A share, from $4.61 billion, or $2,803 per share. "They had a good quarter," said Bill Smead, chief executive of Smead Capital Management Inc in...

  • Net income for Omaha, Nebraska- based Berkshire fell to $4.26 billion, or $2,592 per Class A share, from $5 billion, or $3,042 per share, a year earlier. Operating profit declined 11 percent to $4.12 billion, or $2,505 per Class A share, from $4.61 billion, or $2,803 per share. "They had a good quarter," said Bill Smead, chief executive of Smead Capital Management Inc in...

  • Hyndman, Pa., Aug 2- Rail cars carrying gas and sulfur on a CSX Corp freight train skidded off the tracks and burst into flames on Wednesday in a small Pennsylvania town, forcing hundreds of residents to flee their homes as firefighters fought the blaze. No injuries were reported after the crash in Hyndman, about 100 miles southeast of Pittsburgh.

  • Aug 2- A CSX Corp freight train carrying flammable materials derailed as it moved through a southern Pennsylvania town on Wednesday, striking a residential garage that caught fire, forcing more than 100 residents from their homes, authorities said. No injuries were reported after the crash in Hyndman, about 100 miles southeast of Pittsburgh, but CSX warned...

  • Aug 2- A CSX Corp freight train derailed as it moved through a southern Pennsylvania town on Wednesday, striking a residential garage that caught fire and forcing more than 100 residents from their homes, authorities said. No injuries were reported after the crash in Hyndman, about 100 miles southeast of Pittsburgh, but CSX warned customers of service...

  • Truck on road

    The Dow industrials, up almost 3% in July, has notably diverged from the transports, down nearly 4%.

  • CN chief executive Luc Jobin said on a call with analysts that he expects volume growth during the second half of the year, despite tougher comparable figures from the fourth quarter of 2016. "It's a lot of volume coming at us," CN chief financial officer Ghislain Houle said on the call. CN reaffirmed 2017 adjusted earnings per share of C $4.95 to C $5.10, despite...

  • Canada's largest railroad company said net income rose to C $1.03 billion, or C $1.36 per share, in the second quarter ended June 30 from C $858 million, C $1.10 per share, a year earlier. Excluding items, the company earned C $1.34 per share, slightly ahead of analysts' average estimate of C $1.32, according to Thomson Reuters I/B/E/S. Revenue rose 17 percent to C $3.33...

  • July 25- Canadian National Railway Co reported a 20 percent rise in quarterly profit on Tuesday as the railroad moved higher volumes of commodities including Canadian grains and fertilizers. Canada's largest railroad company said net income rose to C $1.03 billion, or C $1.36 per share, in the second quarter ended June 30 from C $858 million, C $1.10 per share, a...

  • Artist's impression of the MTR Express' newly unveiled Trainy McTrainface

    A train operator in Sweden has vowed to name one of its trains Trainy McTrainface in a bid to bring “joy” to all those disappointed when the U.K. overturned a public vote to name a polar research ship with a similar quirky name.

  • Trade Representative Robert Lighthizer released this week for the renegotiation of NAFTA with Mexico and Canada is reasonable and in line with what the Trump administration has promised to focus on, the head of America's largest railroad said on Thursday. Talks with Mexico and Canada on revisions to the treaty, which came into effect in 1994, are due to start...

  • Union Pacific CEO: We are working on to make our service the best in the marketplace

    Union Pacific Chairman & CEO Lance Fritz discusses the rail company's quarterly earnings and strategy going forward.