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WASHINGTON — A fatal collision of two Union Pacific freight trains in Arkansas resulted from a fatigued engineer and conductor who were both likely asleep aboard one of the trains, federal investigators ruled Dec. 6.    

Union Pacific Corp. net income slipped 13% to $1.13 billion, or $1.36 per share, hurt by lower intermodal and other freight volume and weaker pricing.

Union Pacific Corp. and Canadian Pacific Railway Ltd. this week reported second-quarter net income fell 19% and 16% respectively in a weak rail freight market, while smaller carrier Kansas City Southern raised net income 7% with help from a tax credit.

Union Pacific Corp. reported first-quarter earnings higher than analysts’ expectations as the railroad cut costs and boosted prices to mitigate a steep drop in cargo demand, pushing shares to their highest value in five months.

Union Pacific Corp. selected CEO Lance Fritz to become its chairman Oct. 1 when Jack Koraleski retires from the post after 43 years at the railroad.

Union Pacific Corp., the largest U.S. railroad, posted first-quarter profit and sales below estimates as West Coast port congestion and slack coal demand caused carloads to decline.

Mechanics at the Con-way Freight facility in Gary/Hammond, Indiana, rejected a vote to be represented by the International Association of Machinists and Aerospace Workers union.

Canadian National Railway and the Unifor union said they have negotiated a tentative labor agreement, averting a lockout of 4,800 workers.

Royal Dutch Shell Plc and the United Steelworkers, which represents 30,000 U.S. oil workers, are said to be planning to restart talks this week to resolve a labor dispute as more workers joined in the nation’s biggest refinery strike since 1980.