Agco posts lower profit on falling crop prices — October 28, 2014

Reuters — Agco Corp. posted a lower quarterly profit Tuesday as growers around the globe, faced with falling prices for farm commodities, purchased fewer tractors and harvesters. The company, which makes equipment sold under the Challenger, Fendt, Massey Ferguson and Valtra brand names, reported a third-quarter net profit of $65 million, down from $125.2 million […]

Smoother grain flow points to Ottawa lifting rail regulations — October 28, 2014

Winnipeg | Reuters — Barring a sudden pile-up of grain across Western Canada in the next five weeks, Ottawa will lift requirements that railways move minimum volumes of crops, Agriculture Minister Gerry Ritz said in an interview. While Ritz says he is not ruling out any options before the rules expire Nov. 29, government data […]

PotashCorp fined for mine worker’s death — October 22, 2014

Reuters — A Saskatchewan court has fined PotashCorp $280,000 following a mine worker’s death in 2012 when a machine used to move ore to conveyor belts backed over him. A Provincial Court judge in Saskatoon fined PotashCorp on Tuesday after the world’s biggest fertilizer company pleaded guilty to one charge of failing to comply with […]

CP CEO says unlikely to pursue hostile bid for CSX — October 21, 2014

Toronto | Reuters — Canadian Pacific Railway (CP) is still open to a merger with one of the two bigger eastern U.S. carriers even after talks with CSX Corp. failed, though a hostile bid is unlikely, CEO Hunter Harrison said Thursday. CP, Canada’s No. 2 railway with extensive operations in the U.S., said on Monday […]

Larger grain handle helps boost CN’s Q3 — October 21, 2014

A markedly larger grain and fertilizer handle in the three months ending Sept. 30 has helped pump up the third-quarter bottom line for Canadian National Railway (CN). Montreal-based CN on Tuesday reported third-quarter net income of $853 million on $3.118 billion in total revenue, up from $705 million on $2.698 billion in the year-earlier period. […]

Prairie grain revenue up as CP books record Q3 profit — October 21, 2014

An increased grain handle for the three months ending Sept. 30 has helped boost Canadian Pacific Railway (CP) to its highest third-quarter profit ever. Calgary-based CP released its Q3 results Tuesday, reporting record net income of $400 million on record total revenue of $1.67 billion for the quarter, up from $324 million on $1.534 billion […]

CP, CSX no longer talking merger — October 20, 2014

Canadian Pacific Railway (CP) has shut down last week’s media buzz about any possibility of a merger with the third biggest railway in the U.S. The Wall Street Journal and other media recently reported Calgary-based CP and Jacksonville-based CSX had held “exploratory talks” about combining their operations. [Related story] CP on Monday confirmed it had […]

U.S. senator raises concerns over potential CP, CSX deal — October 17, 2014

Chicago | Reuters — The head of a U.S. Senate subcommittee raised concerns in a letter Thursday to the U.S. Attorney General and head of the top U.S. rail regulator about a potential merger between Canadian Pacific Railway and CSX Corp., and called on them both to fully review the antitrust implications of any such […]

Shortlines shortchanged in Western Canada — October 17, 2014

CNS Canada – Western Canada’s shortline railways are getting the short end of the stick as they struggle to meet their own commitments moving grain and other products along their tracks. A backlog of grain on the Prairies over the past winter, linked in part to poor rail movement, prompted the federal government to implement […]

As clock winds down, CP’s CEO hunts for his dream deal — October 17, 2014

Toronto/Chicago | Reuters – Veteran railroad boss Hunter Harrison has won over many critics since taking over as chief executive of Canadian Pacific Railway (CP), but he still has unfinished business — creation of a consolidated North American railway — and is running out of time to do it. That might explain why CP, Canada’s […]