New York State Sen. Kathleen聽Marchione and UPS Inc. are among those who are opposing the merger of Canadian Pacific Railway and Norfolk Southern Corp., according to letters on file with the Surface Transportation Board.
February 18, 2016Search
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Amazon Expands Deliveries by Its 'On-Demand' Drivers
SAN FRANCISCO 鈥 Amazon.com Inc. is聽quietly inviting drivers for its new "on-demand" delivery service to handle its standard packages, as the online retailer known for low prices and razor-thin profit margins looks to speed up delivery times and tamp down its growing multibillion-dollar logistics bill.
February 18, 2016Railroads Close Tracks, Cut Jobs Across the Country as Coal Cools Off
Working in or around Conway Terminal, the sprawling testament to the might of the U.S. freight railroad system, it might be easy to forget the storm of troubles brewing at Norfolk Southern Corp.
February 18, 2016Biden to Highlight Freight-Rail Project During Memphis Visit
Vice President Joe Biden will travel to Memphis on Feb. 17 to highlight work on Norfolk Southern's Crescent Corridor freight-rail project.
February 12, 2016CP鈥檚 Quest for Norfolk Southern Intensifies
MIAMI 鈥 Canadian Pacific Railway Ltd. and Norfolk Southern Corp. have upped the stakes in a $30 billion battle for control of the U.S. railway, as the potential acquirer said it would take its case directly to NS shareholders.
February 15, 2016NTSB Rips FMCSA on Crash
The Federal Motor Carrier Safety Administration was publicly criticized by the National Transportation Safety Board for 鈥渋nadequate safety oversight of high-risk carriers鈥 after an investigation of a fatal crash in Illinois in which fatigue was blamed.
February 15, 2016CP to Drop Norfolk Southern Pursuit if Resolution Fails, CEO Says
Canadian Pacific Railway Ltd. is ready to end efforts to buy Norfolk Southern Corp. if shareholders of the U.S. railroad reject a resolution calling for merger talks, the head of the Calgary-based company said.
February 11, 2016Maersk Profit Plunges as Oil, Container Units Suffer
A.P. Moeller-Maersk A/S reported an 84% plunge in 2015 profit after its oil unit was hit by lower energy prices and聽the container division聽got squeezed between sluggish trade growth and overcapacity. The shares fell the most in almost a year.
February 10, 2016CP Rail Said to Back Away From Norfolk Southern Proxy Fight
Canadian Pacific Railway is moving away from a proxy fight for Norfolk Southern Corp. but still plans to pursue a takeover of the U.S. carrier, a person familiar with the plan said.
February 9, 2016Saia, Echo Report Lower Fourth-Quarter Earnings
Weaker freight market conditions drove net income down 16% at less-than-truckload carrier Saia Inc., which聽reported a profit of $11.4 million, or 45 cents a share, and Echo Global Logistics Inc. earnings declined 64% to $1.7 million, or 6 cents a share, hurt by acquisition-related costs.
February 5, 2016